--- title: "Perp DEX: How EVEDEX's Perpetual Exchange Works | EVEDEX" description: "What a perp DEX is and how EVEDEX's works: off-chain matching, on-chain settlement on Arbitrum, 0.015%/0.045% fees, 200x on BTC-USD up to $50K notional." url: "https://evedex.com/en/perp-dex/" lang: "en" date_published: "2026-08-21" date_modified: "2026-09-15" --- # Perp DEX with Off-Chain Speed and Arbitrum Settlement EVEDEX is a hybrid perp DEX: orders match off-chain and settle on Arbitrum L2. Trade 52 perpetual pairs 24/7, with 200x on BTC, ETH and SOL up to $50,000 notional. [Trade BTCUSD](https://exchange.evedex.com/en/trade/BTCUSD) ## EVEDEX perp DEX at a glance Key trading terms as of September 15, 2026, from EVEDEX trading terms and fee schedule. - **200x** — BTC, ETH and SOL up to $50,000 notional - **0.015%** — Maker fee; taker 0.045%, before cashback - **52** — Perpetual pairs, trading 24/7 - **6 USDT** — Minimum deposit; minimum order 5 USDT ## Perp DEX comparison: how the leading venues work Four perp DEXs by design, size and documented drawbacks, EVEDEX first. More venues are in our [list of decentralized crypto exchanges](https://evedex.com/en/blog/list-of-decentralized-crypto-exchanges/); centralized venues are ranked on the [best crypto futures exchange](https://evedex.com/en/best-crypto-futures-exchange/) page. | Exchange | How orders match | Open interest; pairs | Drawbacks | | --- | --- | --- | --- | | **EVEDEX** | Hybrid: off-chain matching, Arbitrum L2 settlement | $678.6M; 52 perpetual pairs | No spot or options; no US, Canada | | **Hyperliquid** | Fully on-chain order book on own L1 | $14.18B; 404 perpetual pairs | Most alts 3x–10x | | **dYdX** | Validator-run order book on dYdX Chain | $44.3M; 119 perpetual pairs | Thin open interest | | **GMX** | Oracle-priced fills against GM pools | $31.8M on Arbitrum; 15 markets | Borrow fee on open positions; V1 exploit 2025 | _Perpetual DEXs compared, snapshot of September 15, 2026_ Data as of September 15, 2026: [CoinGecko derivatives](https://www.coingecko.com/en/exchanges/derivatives) at BTC $76,888, Hyperliquid market data; access rules: [Hyperliquid terms](https://app.hyperliquid.xyz/terms), [dYdX Help Center](https://help.dydx.trade/en/articles/166970-geo-restrictions-site-access); fees: [GMX docs](https://docs.gmx.io/docs/trading/fees/). ## Why trade perpetuals on EVEDEX Order-book execution, on-chain settlement, one USDT account. Margin, funding and liquidation rules are on our [crypto derivatives](https://evedex.com/en/crypto-derivatives/) page. ### No gas per order Placing, amending and cancelling orders costs nothing on-chain. You pay only fees capped at 0.015% maker and 0.045% taker before cashback, and only when an order executes. ### Settlement on Arbitrum L2 Balances, positions, liquidations and funding are recorded on-chain on Arbitrum L2, while the order book and matching engine run off-chain for speed. ### One account, 52 markets Trade crypto, five stocks, gold, silver, WTI oil, EURUSD and USDJPY from one cross-margin USDT balance, 24/7. ### Audited smart contracts CertiK has completed two smart-contract audits for EVEDEX, the latest delivered July 28, 2025. A $500,000 ADL Protection Reserve has run since July 18, 2026. ## Start trading on the perp DEX in three steps From wallet to open position in minutes, without traditional KYC, from 6 USDT. ### Connect and deposit Log in with your wallet and deposit from 6 USDT. The first deposit deploys your personal deposit contract on Arbitrum for about 0.1 USDT. ### Pick a pair and leverage Margin is notional divided by leverage: 10x on 1,000 USDT reserves 100 USDT. 200x applies only to BTC, ETH and SOL up to $50,000 notional. ### Sign and place the order Every order carries your wallet signature. A 10,000 USDT taker order costs 4.50 USDT; unfilled orders cost nothing. ## Risk warning Perpetual futures carry a high risk of loss: at 100x, a 1% move against you equals your initial margin, and under cross margin your whole futures balance is at risk. EVEDEX is not intended for UK retail clients. This page is not investment advice. ## Perp DEX questions, answered ### What is a perp DEX? A perp DEX, short for perpetual decentralized exchange, is a venue for futures contracts that never expire, with settlement recorded on-chain rather than only in a company ledger. EVEDEX is a hybrid perp DEX: matching runs off-chain and settlement on Arbitrum L2, across 52 perpetual pairs. ### Is EVEDEX a fully on-chain DEX? No. EVEDEX is hybrid: the order book and matching engine run off-chain, while balances, positions, liquidations and funding are recorded on-chain on Arbitrum L2. A fully on-chain book processes every order on its chain; on EVEDEX, placing and cancelling orders carries no gas cost. ### Where do my deposited funds go? Each deposit goes to a personal deposit contract on Arbitrum, deployed with your first deposit for about 0.1 USDT. The contract can transfer only to a pre-specified bridge, which credits your USDT margin balance after an AML check. The minimum deposit is 6 USDT. ### What leverage can I use on EVEDEX? It depends on the pair: 200x on BTC-USD, ETH-USD and SOL-USD up to $50,000 notional, 100x on XRP, oil, silver and gold, 75x on 24 pairs, 50x on 18, 30x on PIPPIN and 10x on pre-market contracts (EVEDEX trading terms, September 15, 2026). ### What does it cost to trade on EVEDEX? Fees are capped at 0.015% maker and 0.045% taker before cashback and apply only to executed orders. Cashback of up to 35% on your own trades lowers the effective rates to 0.00975% maker and 0.02925% taker. Orders carry no gas cost. ### How does the funding rate work? Funding is calculated every 8 hours per pair and charged hourly at one eighth of the rate, passing directly between longs and shorts. When the perpetual trades above the index price, longs pay shorts; below it, shorts pay longs. EVEDEX itself takes no side in the payment. ### What happens when a position is liquidated? A margin call fires first at 80% margin utilisation and lifts at 60%. If equity falls below maintenance margin, which starts at 0.4% of notional on BTC-USD up to $50,000, the engine closes the position at the mark price and charges a 5% liquidation fee. ### What can I trade on EVEDEX? All 52 pairs are perpetual futures: 39 crypto pairs, five stocks (TSLA, COIN, MSTR, CRCL, SPCX), Tether Gold, silver, WTI oil, EURUSD, USDJPY, the SPY index and two pre-market contracts, ANTHROPIC and OPENAI. Every pair trades 24/7 from one USDT margin account. ### How big is EVEDEX compared with other perp DEXs? CoinGecko recorded $678.6M of open interest and $647.6M of 24-hour volume on EVEDEX on September 15, 2026. That is far below Hyperliquid at $14.18B of open interest, but above dYdX at $44.3M and GMX on Arbitrum at $31.8M. ## Trade perpetuals on a hybrid perp DEX 52 perpetual pairs, 24/7. Fees capped at 0.015% maker and 0.045% taker before cashback, 200x only on BTC, ETH and SOL up to $50,000 notional, from 6 USDT. [Trade BTCUSD](https://exchange.evedex.com/en/trade/BTCUSD)