On-chain perpetuals · 2026

The perp DEX leaderboard,
scored by someone who trades them.

No content-farm fluff. Rankings come from running live, market-neutral bots on Hyperliquid and hands-on testing of every venue below — fees, liquidity, leverage and funding, the things that actually move your P&L.

See the full ranking → Start trading guide

Ranked perp DEXs

Our score · live data mid-2026

01HLHyperliquidPerp DEX ★★★★★ ★★★★★ 4.7 taker0.035%max lev50xVisit →02BBBybitCEX ★★★★★ ★★★★★ 4.3 taker0.055%max lev100xVisit →03ASAsterPerp DEX ★★★★★ ★★★★★ 4.2 taker0.04%max lev100xVisit →04dYdYdXPerp DEX ★★★★★ ★★★★★ 4.0 taker0.05%max lev20xVisit →05JUPJupiterPerp DEX ★★★★★ ★★★★★ 4.0 taker0.065%max lev100xVisit →06GMXGMXPerp DEX ★★★★★ ★★★★★ 3.9 taker0.06%max lev50xVisit →07VXVertexPerp DEX ★★★★★ ★★★★★ 3.8 taker0.03%max lev20xVisit →

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Guides & reviews

Guide

How to Start Trading on Hyperliquid in 2026 (Step-by-Step)

To start trading on Hyperliquid, connect an EVM wallet, hold USDC on the Arbitrum One network, and deposit it into the protocol — there is no sign-up and no KYC. The minimum deposit is 5 USDC. You can be placing your first perpetual trade in under ten minutes.

Read → Comparison

Best Perp DEX in 2026: Top 6 Perpetual DEXs Compared (Tested)

The best perpetual DEX in 2026 is Hyperliquid, which has the lowest fees, the deepest on-chain liquidity, and a fully verifiable order book. dYdX, GMX, Jupiter, Aster, and Vertex each win narrower use cases — by chain, fee model, or leverage. Here is how they compare.

Read → Explainer

What Is a Perpetual DEX? A Trader's Plain-English Guide (2026)

A perpetual DEX is an on-chain exchange for perpetual futures, where trades settle via smart contracts and you keep custody of your funds. Unlike a CEX, there is no company holding your collateral — positions, funding and liquidations are enforced on-chain.