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Kinetiq Markets vs dYdX

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

Metric

Kinetiq Markets

Chain

Hyperliquid L1

dYdX Chain

Type

Oracle

Orderbook

24h Volume

—

$180M

Open Interest

—

$73.2M

Maker Fee

0.030%

-0.011%

Taker Fee

0.090%

0.030%

Max Leverage

50×

25×

Markets

23

294

Collateral

USDH

USDC

Funding Interval

1h

1h

Airdrop Status

$KNTQ

$DYDX

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

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

Trade on Kinetiq Markets →Trade on dYdX →

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