Liquidity: dYdX V4 leadsdYdX V4 2 : 1
Open Interest at dYdX V4 is $55.3M versus $30.6M at GMX V2 Perps. Also 24h volume: $42.5M at dYdX V4 versus $30.9M at GMX V2 Perps.
Volume, order book and open interest come from exchange APIs and aggregators and are averaged, so one lucky day decides nothing. For a purchase of a few hundred dollars the difference is invisible, but a large order fills at market depth: the more liquidity, the less is lost to slippage.
Assets: level1 : 1
Perpetual markets: 15 at GMX V2 Perps versus 119 at dYdX V4. Both exchanges offer roughly the same choice.
Active trading pairs are counted from the instrument lists of the exchanges themselves where they publish them, coin counts come from CoinGecko. If you need a specific coin, check its availability on each venue separately.
Reliability: both stable0 : 0
30-day uptime: 99,7 % at GMX V2 Perps versus 99,8 % at dYdX V4. Both exchanges pass our monitoring without a meaningful gap.
Uptime is measured over 30 days of Kurslog monitoring with a check every 15 minutes, founding year and proof of reserves come from the catalog, trust score from CoinGecko. A one-year gap or 0.2% of uptime counts as a tie.
Bottom line
dYdX V4 leads in 1 of 3 sections: trading and liquidity. GMX V2 Perps does not win a single section.
Market metrics refresh automatically, so the score can shift over time. Choose by the sections that matter to you.
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Ahead on: perpetual markets, open interest, 24h volume.
Open an accountdYdX V4 review →
Better on: supported networks, tvl.
Open an accountGMX V2 Perps review →Spread, order book depth and pair volume come straight from public exchange APIs every 10 minutes and are averaged over 7 days; USDT withdrawal fees come from exchange APIs every 6 hours; uptime from Kurslog monitoring; exchange volume, trust score and coin count from CoinGecko; fee tiers, languages and features are entered manually from official exchange pages. The winner of each metric is calculated, not editorially chosen. This is not investment advice.