dYdX is built for traders who treat the order book like their cockpit. Our perpetual markets offer non-expiring contracts on major crypto assets, giving you the flexibility to go long, short, or hedge without rolling expiries. Whether you’re scalping on market microstructure, swing trading with leverage, or hedging an on-chain position, dYdX provides a low-latency, capital-efficient environment that scales with your strategy.
Key Features
High-performance matching engine: Millisecond execution with predictable fills and minimal slippage.
Deep liquidity: Tight spreads and layered order books across top perpetual pairs.
Flexible margin & leverage: Choose isolated or cross margin and access competitive leverage with robust risk controls.
Advanced order types: Market, limit, stop, post-only, reduce-only and OCO setups to implement sophisticated trade logic.
On-chain transparency: Auditable smart contracts and public trade history for trust and accountability.
How Perpetuals Work on dYdX
Perpetual contracts replicate the economic exposure of holding an asset without owning it outright. Instead of settlement at a fixed expiry, perpetuals maintain price parity with the underlying via a funding mechanism. dYdX’s funding model is designed to keep perpetual prices tightly aligned with spot markets while enabling traders to maintain positions indefinitely.
Use margin to open positions: deposit collateral, select your leverage, and submit an order. Risk is managed through real-time margin checks, dynamic maintenance margins, and automated liquidation systems to protect both traders and market health.
Trader Tools & Analytics
Trade smarter with an integrated toolkit: depth charts, time & sales, VWAP and TWAP execution, position history, P&L simulators, and real-time funding rate displays. Customizable dashboards let you monitor multiple markets and set alerts for price, funding changes, or margin thresholds — all in one responsive UI.
Security & Reliability
Security is foundational. dYdX combines industry-standard on-chain custody with rigorous off-chain risk controls. Smart contracts are audited by third parties, and operational best practices — cold storage for reserves, multi-signature governance, and continuous monitoring — help safeguard user funds. Our redundancy and failover procedures ensure the platform remains available when market conditions demand it most.
Fees, Funding & Liquidity
Fees are designed to reward liquidity providers while keeping costs competitive for active market participants. Funding rates fluctuate with supply/demand dynamics; dYdX publishes real-time funding and historical metrics so traders can plan carry trades or short-term strategies with full visibility. Tight spreads and active order book depth reduce execution cost for large orders.
Why Choose dYdX?
Professional-grade infrastructure: Built for speed, reliability, and fairness.
Transparency: On-chain settlements and auditable contracts increase accountability.
Control: Rich order types, margin modes, and real-time risk metrics empower precise trade execution.
Community & governance: Decentralized decision-making and active developer engagement keep the protocol evolving.
Get Started
Ready to trade? Create an account, complete KYC where required, deposit collateral, and explore the perpetual markets on testnet or mainnet. Use the practice mode to test strategies before committing capital, and check the documentation for step-by-step guides, API access, and best-practices for risk management.
Trade with transparency — deep liquidity, low latency, and auditable settlement
DYDX offers a professional trading experience for perpetual contracts and spot markets. Built with a focus on safety and composability, it supports advanced order types and programmatic access for algos and market makers.