DEX comparison
GMXvsdYdX
Pool-based perps with real LP yield versus a battle-tested on-chain order book — simplicity against pro-grade order types.
At a glance
Higher 24h volume
dYdX
$900.0M
Lower taker fee
dYdX
0.05%
Deeper liquidity (TVL)
GMX
$480.0M
Longer track record
dYdX
since 2017
dexwatch score
dYdX
86/100
Full comparison
Every figure is an approximate snapshot from public trackers. “Best” marks the stronger value in a row — higher volume or liquidity, lower fees, longer track record. Max leverage is shown as information, not a positive.
| Exchange | $GMX ★★★★★★★★★★84/100Solid | $DYDX ★★★★★★★★★★86/100Excellent |
|---|---|---|
| Type | Perp DEX | Perp DEX |
| Chains | ArbitrumAvalanche | dYdX Chain |
| 24h volume | $420.0M | $900.0MBest |
| 7d volume | $2.90B | $6.20BBest |
| Total value lockedLiquidity depth | $480.0MBest | $350.0M |
| Token price | $18.90 | $0.920 |
| 24h change | 2.90% | 0.80% |
| Market cap | $195.0M | $690.0M |
| Maker feeNegative = rebate | 0.06% | −0.005%Best |
| Taker feeLower is cheaper | 0.06% | 0.05%Best |
| Max leverageHigher = riskier | 50× | 50× |
| Trading pairs | 38 | 142Best |
| LaunchedLonger track record | 2021 | 2017Best |
| Security scoredexwatch estimate | 82/100 | 86/100Best |
| Audits | ABDKGuardian | Informal SystemsTrail of Bits |
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GMX vs dYdX FAQ
Which has higher trading volume, GMX or dYdX?
dYdX — about $900.0M in the last 24 hours versus $420.0M on GMX. Figures are an approximate snapshot and move constantly.
Is GMX or dYdX cheaper to trade?
dYdX has the lower headline taker fee at 0.05%, versus 0.06% on GMX. Network gas and price impact still apply on top.
Which has deeper liquidity, GMX or dYdX?
GMX holds more total value locked ($480.0M versus $350.0M), a rough proxy for how much size a market can absorb.
What's the main difference between GMX and dYdX?
GMX is a perp dex on Arbitrum, Avalanche, while dYdX is a perp dex on dYdX Chain. Match the venue to the chain and assets you actually use.
What are perpetuals & perp DEXes?Leverage risk & liquidationDEX trading fees: maker/taker & pool feeperpetualleveragefunding rate
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