dYdX

dYdX is a decentralized derivatives exchange founded by Antonio Juliano in 2017 that migrated to its own Cosmos-based dYdX Chain with the v4 release in 2023. It runs a fully on-chain order book where validators perform trade matching, across more than 200 markets.

dYdX fees

dYdX charges about 1 bps maker and 5 bps taker (a basis point is 0.01%). As with any perp venue, the funding rate often matters more than the headline fee: it is a recurring payment between longs and shorts that can quietly run for or against your position. See how this stacks up on the lowest-fee perp DEX ranking.

dYdX leverage & markets

dYdX offers up to 100x leverage across crypto markets on dYdX Chain (Cosmos). Higher leverage magnifies both gains and liquidation risk, so size positions carefully. For the most aggressive limits, see the highest-leverage perp DEX ranking.

Is dYdX safe and is there KYC?

dYdX is non-custodial: your funds stay in your own wallet and you sign each trade, so there is no company holding your balance and typically no KYC. The trade-off is smart-contract and liquidation risk, so prefer venues with a solid track record and verify contracts yourself.

Who is behind dYdX?

dYdX was built by Antonio Juliano.

Backers: a16z, Paradigm, Polychain, Kronos Research, Bain Capital Ventures.

dYdX milestones

• 2017dYdX founded by Antonio Juliano
• 2021dYdX raises a 65M USD round led by Paradigm
• 2023dYdX v4 launches on the dYdX Chain

dYdX FAQ

What is dYdX?

dYdX is a Cosmos appchain perp DEX with a fully on-chain order book. It runs on dYdX Chain (Cosmos) using a orderbook model, offering up to 100x leverage on crypto markets.

What are dYdX's fees?

dYdX charges roughly 1 bps maker and 5 bps taker (1 bp = 0.01%). Funding is paid periodically between longs and shorts.

Does dYdX require KYC?

No. dYdX is a decentralized exchange: you connect a self-custody wallet and trade permissionlessly, with no signup or KYC on the protocol.

Does dYdX have a token?

Yes, dYdX's token is $DYDX.