perps dexs重塑加密衍生品，提供自我顧客，透明度和無KYC永久期貨

隨著對集中交流的監管審查的增長，交易者正在轉移到鏈上平台，以獲得更大的控制和安全性。

Perps DEXs are reshaping crypto derivatives with self-custody, transparency

perps dexs正在用自我抑制，透明度重塑加密衍生物

As regulatory scrutiny on centralized exchanges deepens, traders are shifting toward decentralized perpetuals exchanges (perps DEXs) for greater control and security over their assets and trades.

隨著對集中交易的監管審查加劇，交易者正在向分散的永久交易所（PERPS DEX）轉移，以更大的控制和安全性對其資產和交易。

Unlike CEXs, decentralized perpetuals settle trades on-chain, minimizing counterparty risk while ensuring global accessibility. Platforms like Hyperliquid have surged in market share, pulling demand from major exchanges like Binance and Bybit as traders seek deep liquidity, low friction, and full ownership of their assets.

與CEXS不同，分散的永久性定居在鏈上解決交易，在確保全球可訪問性的同時最大程度地降低了對手風險。當交易者尋求深厚的流動性，低摩擦和對其資產的全部所有權時，諸如Hyproliquid之類的平台在市場份額上飆升，從Binance和Bybit等主要交易所獲得需求。

We’ve ranked the top decentralized perpetual exchanges (Perps DEXs) for 2025, evaluating security, liquidity, fees, and execution speed to help you choose the best platform for crypto futures trading in DeFi.

我們已經將2025年的最高分散的永久交易所（PERPS DEX）排名，評估了安全性，流動性，費用和執行速度，以幫助您選擇Defi中加密貨幣期貨交易的最佳平台。

1. HyperLiquid – Best Overall Perpetuals DEX

1。超流動性 - 最佳總體永久性DEX

HyperLiquid leads the decentralized perpetuals exchange (perps DEX) market, consistently handling $4–6 billion in daily trading volume. It offers the deepest liquidity across major crypto assets, ensuring minimal slippage and efficient trade execution.

超流動性領導著分散的永久交易所（PERPS DEX）市場，始終處理4-6億美元的每日交易量。它提供了主要的加密資產中最深的流動性，從而確保了最小的滑倒和有效的貿易執行。

Unlike other DEXs that rely on external liquidity providers, HyperLiquid operates a native liquidity engine, delivering tighter spreads and superior market depth. With sub-millisecond execution speeds, an advanced on-chain order book, and gas-free trading, HyperLiquid combines the transparency of DeFi with the efficiency of a centralized exchange.

與其他依靠外部流動性提供商的DEX不同，超流動性運營著當地流動性引擎，可提供更嚴格的點差和卓越的市場深度。憑藉超毫秒的執行速度，高級的鏈上訂單和無天然氣交易，Hypliquid將Defi的透明度與集中式交易所的效率結合在一起。

Traders can access up to 50x leverage on 130+ assets, backed by robust risk management and a seamless trading experience.

貿易商可以在130多種資產上獲得高達50倍的槓桿作用，並以強大的風險管理和無縫的交易經驗支持。

Key Features

關鍵功能

Native liquidity engine for tighter spreads and deeper liquidity

本地流動性引擎可用於更嚴格的差異和更深的流動性

Advanced on-chain order book with sub-millisecond execution speeds

高級鏈上訂單書，具有子毫秒執行速度

Gas-free trading and cross-margin strategies for optimal capital efficiency

最佳資本效率的無天氣交易和跨金額策略

Multi-asset Staking Vaults to earn yield on idle assets and support the platform

多資產存放保險庫以賺取空閒資產的收益並支持該平台

A wide range of assets, including BTC, ETH, SOL, AVAX, UNI, SUSHI, and more

包括BTC，ETH，SOL，AVAX，UNI，壽司等廣泛資產

High leverage of up to 50x on major assets, enabling aggressive traders to multiply their gains

主要資產高達50倍的高槓桿作用，使積極的交易者能夠增加收益

A user-friendly interface that caters to both beginners and experienced traders

一個用戶友好的界面，可滿足初學者和經驗豐富的交易者

2. GMX – Leading Multi-Chain Perps DEX

2。GMX - 領先的多鏈PERPS DEX

Built on Arbitrum and Avalanche, GMX offers up to 100x leverage across 20+ assets, including BTC, ETH, and AVAX. Instead of an order book, GMX uses a multi-asset liquidity pool (GLP) to enable low-slippage trading, with liquidity providers earning a share of platform fees.

GMX以仲裁和雪崩為基礎，在包括BTC，ETH和AVAX在內的20多種資產之間提供高達100倍的槓桿作用。 GMX不是訂單簿，而是使用多資產流動性池（GLP）來實現低速交易，流動性提供商獲得了一定的平台費用。

The ecosystem is powered by GMX, GLP, and GM tokens, which drive staking rewards and incentivize liquidity. With trading fees between 0.05% and 0.07%%, GMX provides cost-efficient execution for traders.

生態系統由GMX，GLP和GM代幣提供動力，這些代幣驅動了積分獎勵並激勵流動性。 GMX的交易費用在0.05％至0.07 %%之間，為交易者提供了成本效益的執行。

Key Features

關鍵功能

Multi-chain presence on Arbitrum and Avalanche, expanding traders’ options

仲裁和雪崩的多鏈存在，擴大了交易者的選擇

High leverage of up to 100x on major assets, catering to aggressive traders

主要資產高達100倍的高槓桿作用，可滿足積極的商人

A unique multi-asset liquidity pool (GLP) for efficient trading and low slippage

一個獨特的多資產流動性池（GLP），用於有效交易和低滑倒

gmx native token, used for staking, governance, and earning platform rewards

GMX本地令牌，用於佔有，治理和賺取平台獎勵

Cost-effective trading fees, usually ranging from 0.05% to 0.07%

具有成本效益的交易費，通常從0.05％到0.07％

A user-friendly interface and beginner-friendly features, making it accessible to traders of all experience levels

一個用戶友好的界面和對初學者友好的功能，使所有經驗級別的交易者都可以使用

3. Drift – Best Perpetuals DEX on Solana

3。漂移 - 最佳永久磁帶

Drift is Solana’s top decentralized derivatives exchange, offering up to 50x leverage on 40+ markets, including SOL, BTC, and ETH. Built on Solana’s fast, low-cost infrastructure, it delivers near-instant trade execution with minimal fees and deep liquidity.

Drift是Solana的頂級分散衍生品交易所，在40多個市場（包括SOL，BTC和ETH）上可提供高達50倍的槓桿作用。它基於Solana的快速低成本基礎設施，以最少的費用和深厚的流動性提供了近乎固有的貿易執行。

Drift’s hybrid liquidity model combines Dynamic AMM (DAMM), Decentralized Limit Order Book (DLOB), and Just-in-Time (JIT) auctions, ensuring tight spreads and low slippage. The platform also supports cross-margin trading, allowing traders to use multiple collateral types while earning yield on idle assets.

Drift的混合流動性模型結合了動態AMM（DAMM），分散的限制訂單（DLOB）和恰到時光（JIT）拍賣，確保差距緊張和低滑倒。該平台還支持交易交易，使交易者可以使用多種抵押品類型，同時在閒置資產上賺取收益。

With over $50 billion in total volume and $150 million in daily trading activity, Drift is rapidly gaining market share.

每日交易活動的總數超過500億美元和1.5億美元，漂移正在迅速獲得市場份額。

Key Features

關鍵功能

Solana-based platform with fast execution speeds, low fees, and deep liquidity

具有快速執行速度，低費用和深厚流動性的基於索拉納的平台

High leverage of up to 50x on major assets, enabling traders to multiply their gains

主要資產高達50倍的高槓桿作用，使交易者能夠增加收益

A hybrid liquidity model that combines DAMM, DLOB, and JIT auctions for optimal liquidity and minimal slippage

結合DAMM，DLOB和JIT拍賣的混合流動性模型，以獲得最佳流動性和最小的滑移

Cross-margin trading for efficient capital utilization and earning yield on idle assets

跨金錢交易，用於有效的資本利用和閒置資產收益率

A user-friendly interface and beginner-friendly features, making it accessible to traders of all experience levels

一個用戶友好的界面和對初學者友好的功能，使所有經驗級別的交易者都可以使用

4. dYdX – Most Advanced Decentralized Perps Exchange

4。DYDX - 最先進的分散perps交換

Originally built on Ethereum Layer 2, dYdX migrated to its own Cosmos-based blockchain, enabling fully decentralized trading, low-latency order matching, and on-chain settlement. With $300 million in daily trading volume, dYdX competes directly with centralized exchanges.

DYDX最初建於以太坊第2層，遷移到其自己的基於COSMOS的區塊鏈，實現了完全分散的交易，低延遲訂單匹配和鏈結算。 DyDX憑藉每日交易量為3億美元，直接與集中交易所競爭。

It uses an off-chain order book for high-

它使用一本非鏈訂單來進行高級