So, looking for opinions here. Which platform do you think takes the crown for user-friendliness, security, and fees?
Hyperliquid, Perpmate, Asterdex, LighterBased, Axiom, Drift Trade, Paradex... did I miss any? What have your experiences been like with these?
When dealing with Dex what you should know is that trust, reputation is very essential and key to safety on those exchanges, even more important than chasing low fees and other flexibility in service delivery.
Also make sure to Keep your private keys very safe and be your own custody very important, always try new Dex with small amount to avoid stories that touched.
Few of above Dex exchange have good reviews on third party platforms, but still we can't rely on that much without doing our own research and taking precautions to avoid falling victim.
From all that list Im personally using
- Hyperliquid
- Aster
- Lighter
- Drift
- Paradex
off your list
- Ostium Market
- GMX
- Gains
- Kiloex
Best so far is Lighter and hyperliquid I mean everythings came after Hyperliquid and Lighter is best because u dont need fee and the platfrom is fast.
Have you tried this https://app.vooi.io/?r=L146XJP is basically a plafrom that combine all perp dex into one platfrom is Perp Dex aggregator
I have not visited Lighter before but are you sure about the zero fee on the site? Are you referring to trading and withdrawal fee or just the trading fee?
I think no platform can have zero fee because the owners of the exchange will want to make money and make the business grow. I guess the exchange is only offering it for some period of time for promotional purposes.
Among the list, I only tried Asterdex. It's cool because most of the popular layer 2 networks support it, like Arbitrum and BNB Chain, as you can use it on Ethereum main net and Solana too.
So if you're not really a huge trader, Asterdex will work, but other traders are using Hyperliquid, which has its own network, but not sure the fees of it compared to using layer 2 networks like Arbitrum/BNB Chain.
You are right but not all the time they will make money from funding rounds. There are other means they make money. It is true that the retail traders do not pay trading fee according to what I later found out but they offer premium account fee. The premium accounts are used by institutions, but the fee are lower in percentage if compared to centralized exchanges.
These are other ones that I saw also online:
In the list that you have, I have tried Hyperliquid and Lighter. They are both great but I have used Lighter more just because it was newer and also the potential airdrop back then. The current DEX I'm into using now is NADO. It's by Kraken, and they are using the Ink Network. Hoping for a great drop in it as well.
In addition to the list are from what I have tried
VariationalExtend
Hyperliquid is battle tested deep liquidity perpetual dex, the best one I keep using so far and the only competition for this is lighter. Aster feels cheap as heck.
Tried edgex but this one just didn't hit the spot and for some reason the UX feels counterintuitive.
My experience has been great with hyperliquid as always because liquidity won't lie. You want low funding rate perp position, a market with big liquidity usually is the answer.
Yeah do not like ASTER UI either, only one thing they good for if you are BNB holder you get better APR on it. Hyperliquid is surely best for desktop trading, but I did not like that much their mobile version that is why I use Perpmate for whenever I am outside it is basically HL frontend. Lighter not sure, it is like copy cat of Hl so I dont see any benefits on it yet... unless someone in this thread helps me understand it.
Almost all new Perp DEX distribute airdrops to their participants for trading volume. And exchanges like Aster and Lighter, which you write about, have already distributed such airdrops.That's why I currently trading on Pacifica, Ethereal, Bullpen and Variational, where, except for the profit from trading, you can get points that will later be converted into tokens.
Im using ethereal a perpetual dex under the ethena ecosystem. I think most dex are good its really depend on how the users used it. Ive been using ethereal for a while now and so far so good. What good is aside from doing perp trade you can also earned from your liquidity as they got APY% on your stablecoin deposits ( USDE) while doing the trade so that added bonus on your earning for fees.
Hyperliquid because the liquidity is HYPER pun intended .
Seriously though, it's always better to choose that one that got the highest liquidity and good company revenue because despite them being called DEX, the money is in their control and could always go bankrupt although they'd open withdrawal windows most likely.
Hyperliquid remains the best indeed for DEX scale in perpetual or Future trading, I still use it until now because it is very comfortable and accustomed to using Hyperliquid, the second option Lighter is also quite good as a futures trading DEX.
Yes, we still have to be careful even though it's a DEX, they have authority in fund management, so just be careful in trading wherever and whenever it is.