Jupiter Perps vs dYdX
Same lines, side by side: fees, leverage, markets, KYC, custody and referral perks, from official pages and DefiLlama.
| Line | Jupiter Perps | dYdX |
|---|---|---|
| 30-day volume | #P10 · $6,207.0MEdge | #P12 · $1,037.0M |
| Trading fees | 0.06% per open or closeNo order book and no maker/taker split on the JLP markets (SOL, ETH, wBTC): a 0.06% base fee is charged on open and on close, plus a price-impact fee that grows with the clip and with the imbalance of open interest, an hourly borrow fee, and a swap fee of 10 bps (2 bps on stablecoins) when the input token has to be converted. Beta markets charge a taker or maker fee per order plus an hourly funding rate instead. | 0.050% taker · 0.010% makerSeven tiers on 30-day trailing volume across all markets: 5.0/1.0 bps below $1M, 4.5/1.0 above $1M, 4.0/0.5 above $5M, 3.5/0 above $25M, 3.0/0 above $50M, 2.5/-0.7 above $100M and 2.5/-1.1 above $200M, so the largest makers are paid. Staking DYDX adds a further discount on net positive fees; maker rebates are excluded from that discount.Edge |
| New-user perk | None documented | Referred users start at fee tier 3 instead of tier 1, worth up to $550 of fee savingsEdge |
| Max leverage | up to 250×Edge | up to 50× |
| Perp markets | 9 | 78Edge |
| Identity check | No KYC | No KYC |
| Custody | Non-custodial, Solana wallet | Non-custodial, wallet signature |
| Settles on | Solana | dYdX Chain (Cosmos app-chain) |
| Collateral | USDC, SOL, wETH, wBTC | USDC |
| Where it runs | Web, iOS, Android | Web |
| Chains | SolanaSolana | EVM · NobleEthereum, NobleEdge |
| Documented features | 6 of 10Edge | 4 of 10 |
| Order book | Not documented | Yes |
| Cross margin | Not documented | Yes |
| Spot trading | Yes | Not documented |
| Vaults / copy vaults | Yes | Yes |
| Copy trading | Not documented | Not documented |
| Stocks, gold or forex | Yes | No |
| Points program | Yes | No |
| API | Yes | Yes |
| Mobile app | Yes | Not documented |
| Telegram bot | No | Not documented |
Which one should you pick?
Pick Jupiter Perps if
You already live in the Jupiter ecosystem and want perps without leaving the app or the mobile client.
Perps are one tab inside the largest Solana app: three markets trade against the JLP pool, with leverage up to 250x, and six Beta markets add JUP, HYPE, ZEC and tokenised stocks. The 0.06% base fee is the highest of the series, and borrow fees keep accruing while a position is open.
jup.ag
Pick dYdX if
You publish content about perps: the 30% to 50% taker-fee share with instant USDC payouts is the best economics here.
The most generous affiliate programme of the series, and the clearest case of a venue that lost the volume war: 78 active markets and $1.04B of 30-day volume, against $204B for Hyperliquid. The order book, the fee ladder and the payout mechanics are fully documented.
dydx.trade
