dYdX Review
Perpetual DEXes · Official site ↗
Largest decentralized perpetual exchange — v4 on appchain
Best for: Traders who want decentralized perp exposure and affiliates seeking recurring commission
Risk Assessment
Largest perp DEX by volume, appchain since v4, audited, real revenue-sharing model.
Fees
| Taker | 0.05% |
| Maker | 0.02% |
| Affiliate Commission | 30%-50% of taker fee |
Strengths
- ✓Largest decentralized perpetual exchange by volume
- ✓Migrated to Cosmos appchain (v4) — full decentralization
- ✓Strong affiliate program (30-50% taker fee commission)
- ✓Established brand and deep liquidity
Weaknesses & Risks
- !LP returns depend on trading volume volatility
- !Appchain introduces validator set risk
- !Taker fees higher than newer competitors
dYdX FAQ
What is dYdX?
dYdX is a perpetual dexes founded in 2017 on ethereum, cosmos (dYdX Chain appchain). Largest decentralized perpetual exchange — v4 on appchain
What APY can I earn on dYdX?
Current yields typically range from 5% to 35% APY, with a typical rate around 15%. APY varies with market conditions, utilization and token emissions — always verify live rates before depositing.
Is dYdX safe?
DifiCalc risk grade: A. Largest perp DEX by volume, appchain since v4, audited, real revenue-sharing model. Audits: Trail of Bits, Certora. As with all DeFi, smart-contract and market risk remains — never deposit more than you can afford to lose.
What fees does dYdX charge?
Taker: 0.05%. Maker: 0.02%. Affiliate Commission: 30%-50% of taker fee.
Run the numbers yourself
Model a real dYdX position with our free yield calculator — no signup.
Information last reviewed in 2026. APY figures are indicative ranges from protocol data and may differ from live rates. This page is for informational purposes only and is not financial advice.