dYdX vs GMX Comparison

dYdX
dYdX
4.3of 5
Go to dYdX
vs
GMX
GMX
4.2of 5
Go to GMX
0.05% taker / 0.01% makerFees0.04% maker / 0.06% taker (V2)

Pros & Cons

dYdX
dYdX
Pros
  • Fully decentralised order book — matching runs through validators
  • Purpose-built Cosmos chain rather than a rollup dependency
  • Long operating history and mature market structure
  • 200+ markets
  • Low network fees
Cons
  • Market share has fallen sharply as liquidity moved to newer venues
  • Thinner books and higher slippage in secondary markets
  • No EU authorisation
  • Support runs through community channels
dYdX Reviews
GMX
GMX
Pros
  • Trading against a liquidity pool — no order-book slippage
  • Oracle-based pricing
  • 100+ perpetual contracts at up to 100x leverage
  • Live on several chains, centred on Arbitrum
  • Long operating history in DeFi
Cons
  • More expensive than fee-free order-book competitors
  • Ongoing funding costs weigh on longer holding periods
  • Dependence on oracle pricing as a structural risk factor
  • No EU authorisation
GMX Reviews

Score Comparison

4.2Usability4.3
4.2Features4.0
4.2Fees3.8
4.5Stability4.4
3.6Support3.5

Features

dYdX
dYdXHighlights
  • Decentralised matching at validator level
  • Purpose-built Cosmos chain
  • Established name in derivatives
  • 200+ perpetual markets
GMX
GMXHighlights
  • Pool-based model instead of an order book
  • No conventional slippage
  • Leverage up to 100x
  • Established protocol on Arbitrum

Details

dYdXGMX
dYdX Trading Inc.CompanyGMX Protocol
United StatesHeadquartersDecentralised, no registered office
dYdX ReviewsGMX Reviews