DEX Fee Comparison Tool
Compare trading fees across the top perpetual DEXes. Find the most cost-effective exchange for your trading strategy and calculate your potential annual savings.
Trading Fee Comparison
| Funding | Discounts | |||||
|---|---|---|---|---|---|---|
HY Hyperliquid Hyperliquid L1 | 0.01% | 0.025%29% off 0.035% | 1 hour | 50x | 140 | VIP Builder |
01 01 Exchange N1 Chain | 0.02% | 0.05% | 1 hour | 40x | 15 | VIP Builder |
DR Drift Solana | Free | 0.05% | 1 hour | 20x | 35 | VIP Builder |
DY dYdX dYdX Chain | 0.02% | 0.05% | 1 hour | 20x | 180 | VIP Builder |
ZE Zeta Markets Solana | Free | 0.05% | 1 hour | 20x | 25 | VIP Builder |
JU Jupiter Perps Solana | Free | 0.06% | 1 hour | 100x | 8 | VIP Builder |
GM GMX Arbitrum | 0.05% | 0.07% | 1 hour | 100x | 12 | VIP Builder |
* Fees shown are base rates. VIP tiers and trading volume discounts may reduce fees further. Data last updated January 2025.
Fee Calculator
Calculate your potential savings based on trading volume
Total notional value of trades per month
Save 64% by using Hyperliquid instead of GMX
Save 64% by using Hyperliquid instead of GMX
Total Fees by DEX (Monthly)
Best choice: Hyperliquid
At $100,000 monthly volume, you would pay $25 in fees per month.
Understanding Perpetual DEX Trading Fees
Why Trading Fees Matter for Perpetual Traders
Trading fees are one of the most significant factors affecting your profitability as a perpetual futures trader. Unlike spot trading where you might hold positions for weeks or months, perpetual traders often execute dozens or hundreds of trades per month. Even small differences in fee structures can compound into substantial amounts over time.
For example, a trader with $100,000 in monthly trading volume would pay $50 at 0.05% taker fees, but only $25 at 0.025% taker fees. That is a $25 monthly difference, or $300 annually. Scale this up to $1 million in monthly volume, and you are looking at $3,000 in annual savings just by choosing the right exchange.
Types of Fees on Perpetual DEXes
1. Maker vs Taker Fees
The distinction between maker and taker fees is fundamental to understanding exchange fee structures. Makers add liquidity to the order book by placing limit orders that do not immediately execute. Takers remove liquidity by placing market orders or limit orders that execute immediately. Most exchanges charge lower fees for makers (sometimes even offering rebates) because they provide valuable liquidity that makes the market more efficient.
2. Funding Rates
Unlike trading fees which are one-time costs, funding rates are periodic payments exchanged between long and short position holders. These payments occur hourly or every eight hours depending on the exchange. Funding rates keep perpetual prices aligned with spot prices. When the perpetual price trades above spot (contango), longs pay shorts. When it trades below (backwardation), shorts pay longs. Use our Funding Rate Calculator to estimate your funding costs.
3. Borrowing and Position Fees
Some decentralized perpetual exchanges like GMX charge additional borrowing fees based on position size and utilization of the liquidity pool. These fees can vary dynamically based on market conditions and are separate from standard trading fees. Always check the total cost structure before choosing an exchange.
How to Reduce Your Trading Fees
Use Builder Codes
Builder codes (referral codes) from trading interfaces can significantly reduce your fees. For example, Hyperliquid offers a 0.01% reduction on taker fees when using a builder code, bringing fees from 0.035% to 0.025%. This is essentially free money for traders who know about this discount.
Qualify for VIP Tiers
Many exchanges offer VIP programs that reduce fees based on your 30-day trading volume. dYdX, Hyperliquid, and Drift all offer tiered fee reductions for high-volume traders. Check each exchange's VIP requirements to see if you qualify.
Use Limit Orders When Possible
If your strategy allows, using limit orders instead of market orders means paying maker fees instead of taker fees. On exchanges like Drift where makers trade for free, this can eliminate trading fees entirely.
Consider Token Staking
Some protocols offer fee discounts for staking their native tokens. For example, staking DYDX tokens can reduce trading fees on dYdX. Factor in the opportunity cost of staking when calculating if this makes sense for your trading volume.
Fees Are Not the Only Consideration
While low fees are important, they should not be your only criterion for choosing a perpetual DEX. Consider these other critical factors:
- Liquidity: Low fees mean nothing if slippage eats your profits. Check order book depth for your typical trade sizes.
- Market Selection: Make sure the exchange supports the markets you want to trade.
- Reliability: Exchange uptime and execution speed matter, especially during volatile markets.
- Security: Consider the exchange's track record and smart contract security.
Use our Liquidation Calculator to understand your risk exposure, and our Position Size Calculator to determine appropriate position sizes for your account.
Our Comparison Methodology
The fee data in this comparison tool is gathered directly from each exchange's official documentation and verified through test trades. We focus on the most relevant metrics for active traders:
Fee structures change frequently. We update this data at least monthly to ensure accuracy.
We show base rates for new users. VIP discounts can reduce fees significantly for high-volume traders.
Track Your Trading Performance
Understanding your fees is just one part of becoming a profitable trader. Use Perp Dashboard to track your complete trading performance, including PnL, win rate, and how you compare to other traders on the leaderboard. Set up price alerts to never miss trading opportunities, and follow whale trades to see what the biggest traders are doing.
Frequently Asked Questions
Perpetual DEX trading fees are costs charged by decentralized exchanges when you open or close leveraged positions. These typically include maker fees (for limit orders that add liquidity) and taker fees (for market orders that remove liquidity). Fees usually range from 0.01% to 0.10% per trade, significantly impacting profitability for active traders.
Hyperliquid currently offers some of the lowest fees in the industry with 0.01% maker and 0.035% taker fees. dYdX is also competitive at 0.02% maker and 0.05% taker. However, the lowest fee exchange may not always be the best choice - consider liquidity, supported markets, and reliability alongside fees.
Maker fees apply when your order adds liquidity to the order book (limit orders that do not execute immediately). Taker fees apply when your order removes liquidity (market orders or limit orders that execute immediately). Maker fees are typically lower or even negative (you receive a rebate) because makers provide valuable liquidity.
Trading fees are one-time costs paid when opening or closing positions. Funding rates are periodic payments (usually hourly or every 8 hours) exchanged between long and short traders to keep perpetual prices aligned with spot prices. Funding can be positive or negative, meaning you might pay or receive funding depending on your position and market conditions.
Builder codes (also called referral codes) are special codes from trading interfaces that can reduce your trading fees. For example, using a builder code on Hyperliquid reduces taker fees from 0.035% to 0.025%. Always check if the platform you are using offers fee discounts through builder codes or VIP tiers based on trading volume.
Savings depend on your trading volume. A trader with $100,000 monthly volume could save $500-$1,000 per year by choosing a DEX with 0.01% lower fees. High-frequency traders with millions in monthly volume can save tens of thousands annually. Use our fee calculator above to estimate your specific savings.