In: Glossary
Orderbook vs AMM
Two ways a perp DEX matches your trade.
An orderbook venue matches your order against resting bids and asks, just like a centralized exchange. This gives fine-grained control over price and is favoured by active traders.
An AMM or pool model trades you against a shared liquidity pool at an oracle-derived price, which can be simpler but behaves differently on large orders.
Filter venues by model on the rankings, or see the onchain orderbook list.