Side-by-side comparison of two perpetual futures exchanges — updated in real time.
dYdX and SynFutures approach perp trading from different angles: dYdX's sovereign chain orderbook prioritizes decentralization and low fees, while SynFutures' AMM on Base enables permissionless market creation.
dYdX runs on its own Cosmos L1 with 188 orderbook markets, 25x leverage, maker rebates of 0.011%, and a 0.03% taker fee. SynFutures operates on Base with its Oyster AMM, listing 280 markets with 100x leverage, zero maker fees, and a 0.05% taker fee. The fee comparison is nuanced: dYdX gives larger maker rebates (0.011% vs 0%) but SynFutures has zero maker cost. For takers, dYdX is cheaper (0.03% vs 0.05%). SynFutures offers 4x more leverage and significantly more markets. SynFutures' permissionless listing means rapid expansion but potentially thinner liquidity on exotic pairs. dYdX's sovereign blockchain provides full decentralization of the matching engine, while SynFutures relies on Base's security. dYdX's ecosystem includes MegaVault (~20% APR) and $1.5M monthly trading rewards. SynFutures raised $38M+ from top-tier VCs. DYDX (50% community) is more established than F (28.5% community, launched December 2024).
Choose dYdX for lower taker fees, maker rebates, a sovereign decentralized chain, and passive yield. Choose SynFutures for 4x higher leverage, more markets (280 vs 188), zero maker fees, and permissionless market creation on Base.
