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dYdX vs Kinetiq Markets

Side-by-side comparison of two perpetual futures exchanges — updated in real time.

Metric

Kinetiq Markets

Chain

dYdX Chain

Hyperliquid L1

Type

Orderbook

Oracle

24h Volume

$180M

—

Open Interest

$73.2M

—

Maker Fee

-0.011%

0.030%

Taker Fee

0.030%

0.090%

Max Leverage

25×

50×

Markets

294

23

Collateral

USDC

USDH

Funding Interval

1h

1h

Airdrop Status

$DYDX

$KNTQ

dYdX — Pros & Cons

Pros

Own sovereign L1 chain
188 markets
Maker rebates
DYDX token live

Cons

Volume has declined vs competitors
Cosmos chain less accessible
Complex bridging

Kinetiq Markets — Pros & Cons

Pros

Unique TradFi asset focus (equities, indices, commodities)
Built on Hyperliquid L1 — fast execution
kHYPE liquid staking integration

Cons

USDH-only collateral
Fewer markets than crypto-focused DEXes (~23)
Dependent on Hyperliquid ecosystem

Trade on dYdX →Trade on Kinetiq Markets →

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