The Ultimate Resource for Perpetual Futures Decentralized Exchanges

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FAQ

1. What is a Perpetual DEX (Perp DEX)?

A Perp DEX is a decentralized exchange that supports perpetual futures contracts—derivatives with no fixed expiration date. Instead of trusting a centralized custodian with your funds, you retain full control of your private keys using a Web3 wallet (e.g., Metamask, Phantom, or Rabby). Perp DEXes allow traders to go long or short on various assets with leverage, just like a centralized futures platform, but with on-chain transparency and self-custody.

2. How Does It Compare to a CEX?

Ownership of Funds: On a DEX, you keep your private keys. CEXes typically hold your funds, which adds counterparty risk.
No KYC: Most Perp DEXes do not require Know Your Customer (KYC) procedures since they operate via permissionless smart contracts.
Transparency: Perp DEXes are generally fully on-chain, so anyone can verify balances and trades. CEXes have historically had opaque ledgers—one infamous example is the FTX collapse, which involved hidden liabilities and effectively a “bank run” when users withdrew en masse.
No Gas Fees on Trades: Many modern DEXes operate on layer 2 solutions or custom chains, drastically reducing or eliminating gas fees for trading.
Performance & Liquidity: Although CEXes often still have an edge in liquidity, DEX tech has improved vastly in recent years. Some offer near-instant finality and high throughput, making them comparable to a CEX experience.
Forced Transparency: As DEXes gained popularity, CEXes responded by introducing “proof of reserves” pages to show they hold enough assets to cover withdrawals. DEXes, by design, offer on-chain verifiability from the start.

3. Do I Need a Web3 Wallet?

Yes, in most cases you’ll need a Web3 wallet such as Metamask, Phantom, or Rabby to interact directly with the DEX’s smart contracts. However, many Perp DEXes now provide simpler email or social logins (custodial or semi-custodial solutions), which lower the barrier to entry if you’re not ready to manage your own wallet keys.

4. Where Do You Source Your Metrics (Volume, TVL, OI, etc.)?

We gather metrics from on-chain data providers (e.g., DeFiLlama) and individual exchange APIs, which provide volume, TVL, OI, and other stats. Our goal is to consolidate this data and present it in a transparent, side-by-side comparison.

The Ultimate Resource for Perpetual Futures Decentralized Exchanges

FAQ

1. What is a Perpetual DEX (Perp DEX)?

2. How Does It Compare to a CEX?

3. Do I Need a Web3 Wallet?

4. Where Do You Source Your Metrics (Volume, TVL, OI, etc.)?

5. How Often Is the Data Updated?