In: Glossary
Perp DEX
A decentralized exchange for perpetual futures.
A perp DEX (perpetual decentralized exchange) lets you trade perpetual futures onchain, with leverage, straight from your own wallet. There is no signup and usually no KYC, and no company custodies your funds: you sign each trade yourself.
Compared with a centralized exchange, a perp DEX removes custody and counterparty risk but adds smart-contract and liquidation risk. The trade-off is self-custody and permissionless access.
Every venue on our rankings is a perp DEX. See how they differ on fees, funding, leverage and liquidity.