Veranta vs dYdX
Same lines, side by side: fees, leverage, markets, KYC, custody and referral perks, from official pages and DefiLlama.
| Line | Veranta | dYdX |
|---|---|---|
| 30-day volume | #P11 · $3,194.0MEdge | #P12 · $1,037.0M |
| Trading fees | 0.045% taker · 0.001% makerNo order book: the venue prices against its vault and rewards the side that balances open interest. Opening or closing on the lighter side costs 0.001%, on the heavier side 0.045%, charged on notional at both ends. Forex, commodities, indices and equities trade with zero commission while those markets are in growth mode, and Upside Perps skip upfront fees to take a share of profits instead. Funding and borrow are charged while the position is open.Edge | 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. |
| 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 500×Edge | up to 50× |
| Perp markets | 100Edge | 78 |
| Identity check | No KYC | No KYC |
| Custody | Non-custodial, gasless one-click trading from your wallet | Non-custodial, wallet signature |
| Settles on | Base (Avantis/Veranta contracts) | dYdX Chain (Cosmos app-chain) |
| Collateral | USDC | USDC |
| Where it runs | Web | Web |
| Chains | EVMBase | EVM · NobleEthereum, NobleEdge |
| Documented features | 3 of 10 | 4 of 10Edge |
| Order book | No | Yes |
| Cross margin | Not documented | Yes |
| Spot trading | No | Not documented |
| Vaults / copy vaults | Yes | Yes |
| Copy trading | Not documented | Not documented |
| Stocks, gold or forex | Yes | No |
| Points program | Not documented | No |
| API | Yes | Yes |
| Mobile app | Not documented | Not documented |
| Telegram bot | No | Not documented |
Which one should you pick?
Pick Veranta if
You want one account for FX, equities, commodities and crypto, and you are willing to trade the balancing side to pay almost nothing.
Avantis became Veranta, and the model stayed the same: an AMM-style venue where your fee depends on which side of the market you take, from 0.001% when you balance open interest to 0.045% when you add to it. Leverage reaches 500x on FX majors and 250x on blue-chip crypto through Upside Perps.
veranta.xyz
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
