PERP DEX full comparison
Chain, trading model, fees, referral benefits, max leverage, collateral, and token and points status in one table. Click an exchange name for its full overview. Last checked October 23, 2026.
| Exchange | Chain | Model | Maker | Taker | Referral benefit | Max leverage | Markets | Collateral | KYC | Token | Points |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Hyperliquid | Own L1 | Order book | 0.015% | 0.045% | 4% offOn your first $25M of volume | 40x | 178+ | USDC | None | HYPE | — |
| Lighter | Ethereum ZK rollup | Order book | 0% | 0% | 10% offWeekly rebate on paid (Premium) account fees | 50x | 214 | USDC, etc. | None | LIT | Live |
| Aster | Aster Chain | Order book + pool | 0% | 0.04% | 5% offReferral code fee rebate | 1001x | 597 | USDT, etc. | None | ASTER | — |
| GMX | Arbitrum, Avalanche | Pool / oracle | 0.04% | 0.06% | 5% offUp to 10% depending on referrer tier | 100x | 129 | ETH, USDC, etc. | None | GMX | — |
| RISEx | RISE Chain | Order book | 0.01% | 0.03% | Invite accessGated mainnet, invite required | 25x | 45 | USDC | None | — | Live |
Fees are at the base tier. Max leverage is for major markets such as BTC and varies by coin.