Nado vs Phoenix: which perp DEX is better?
A side-by-side comparison of Nado and Phoenix on fees, leverage, volume, chain and token.
| Nado | Phoenix |
|---|
| 24h volume | $347M | $45M |
| Maker fee | 1 bps | n/a |
| Taker fee | 3.5 bps | n/a |
| Max leverage | 20x | 25x |
| Model | Orderbook | Orderbook |
| Chain | Ink (Kraken L2) | Solana |
| Token | No token | No token |
| Assets | Crypto | Crypto, Commodities, Stocks |
Nado vs Phoenix: which should you choose?
If your priority is cost, Nado wins on taker fees (3.5 bps). For maximum leverage, Phoenix goes up to 25x. For depth and liquidity, Nado trades the most volume of the two. Both are pre-token, so either could reward early activity with a future airdrop.
Nado runs a orderbook on Ink (Kraken L2), while Phoenix runs a orderbook on Solana. Read the full profiles: Nado and Phoenix.
FAQ
- Is Nado or Phoenix cheaper?
- Nado has the lower taker fee (3.5 bps vs n/a). Funding rates also affect total cost, so check both before trading.
- Which has higher leverage, Nado or Phoenix?
- Phoenix offers more, up to 25x, versus 20x. Higher leverage means higher liquidation risk.
- Which is bigger, Nado or Phoenix?
- Nado has more listed 24h volume ($347M), which usually means deeper liquidity and less slippage.
More comparisons
Not financial advice. Volume figures are compiled from each venue's public data on our
live rankings and may lag; fees, leverage and token status are curated and can change. Always verify on the exchange before trading. Perpetual futures are high risk and leverage can liquidate your position.