perps dexs重塑加密衍生品，提供自我顾客，透明度和无KYC永久期货

随着对集中交流的监管审查的增长，交易者正在转移到链上平台，以获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.

随着对集中交易的监管审查加剧，交易者正在向分散的永久交易所（PERPS DEX）转移，以更大的控制和安全性对其资产和交易。

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.

与CEXS不同，分散的永久性定居在链上解决交易，在确保全球可访问性的同时最大程度地降低了对手风险。当交易者寻求深厚的流动性，低摩擦和对其资产的全部所有权时，诸如Hyproliquid之类的平台在市场份额上飙升，从Binance和Bybit等主要交易所获得需求。

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.

我们已经将2025年的最高分散的永久交易所（PERPS DEX）排名，评估了安全性，流动性，费用和执行速度，以帮助您选择Defi中加密货币期货交易的最佳平台。

1. HyperLiquid – Best Overall Perpetuals DEX

1。超流动性 - 最佳总体永久性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.

超流动性领导着分散的永久交易所（PERPS DEX）市场，始终处理4-6亿美元的每日交易量。它提供了主要的加密资产中最深的流动性，从而确保了最小的滑倒和有效的贸易执行。

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.

与其他依靠外部流动性提供商的DEX不同，超流动性运营着当地流动性引擎，可提供更严格的点差和卓越的市场深度。凭借超毫秒的执行速度，高级的链上订单和无天然气交易，Hypliquid将Defi的透明度与集中式交易所的效率结合在一起。

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

贸易商可以在130多种资产上获得高达50倍的杠杆作用，并以强大的风险管理和无缝的交易经验支持。

Key Features

关键功能

Native liquidity engine for tighter spreads and deeper liquidity

本地流动性引擎可用于更严格的差异和更深的流动性

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

高级链上订单书，具有子毫秒执行速度

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

最佳资本效率的无天气交易和跨金额策略

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

多资产存放保险库以赚取空闲资产的收益并支持该平台

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

包括BTC，ETH，SOL，AVAX，UNI，寿司等广泛资产

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

主要资产高达50倍的高杠杆作用，使积极的交易者能够增加收益

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

一个用户友好的界面，可满足初学者和经验丰富的交易者

2. GMX – Leading Multi-Chain Perps DEX

2。GMX - 领先的多链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以仲裁和雪崩为基础，在包括BTC，ETH和AVAX在内的20多种资产之间提供高达100倍的杠杆作用。 GMX不是订单簿，而是使用多资产流动性池（GLP）来实现低速交易，流动性提供商获得了一定的平台费用。

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.

生态系统由GMX，GLP和GM代币提供动力，这些代币驱动了积分奖励并激励流动性。 GMX的交易费用在0.05％至0.07 %%之间，为交易者提供了成本效益的执行。

Key Features

关键功能

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

仲裁和雪崩的多链存在，扩大了交易者的选择

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

主要资产高达100倍的高杠杆作用，可满足积极的商人

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

一个独特的多资产流动性池（GLP），用于有效交易和低滑倒

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

GMX本地令牌，用于占有，治理和赚取平台奖励

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

具有成本效益的交易费，通常从0.05％到0.07％

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

一个用户友好的界面和对初学者友好的功能，使所有经验级别的交易者都可以使用

3. Drift – Best Perpetuals DEX on Solana

3。漂移 - 最佳永久磁带

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的顶级分散衍生品交易所，在40多个市场（包括SOL，BTC和ETH）上可提供高达50倍的杠杆作用。它基于Solana的快速低成本基础设施，以最少的费用和深厚的流动性提供了近乎固有的贸易执行。

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的混合流动性模型结合了动态AMM（DAMM），分散的限制订单（DLOB）和恰到时光（JIT）拍卖，确保差距紧张和低滑倒。该平台还支持交易交易，使交易者可以使用多种抵押品类型，同时在闲置资产上赚取收益。

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

每日交易活动的总数超过500亿美元和1.5亿美元，漂移正在迅速获得市场份额。

Key Features

关键功能

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

具有快速执行速度，低费用和深厚流动性的基于索拉纳的平台

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

主要资产高达50倍的高杠杆作用，使交易者能够增加收益

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

结合DAMM，DLOB和JIT拍卖的混合流动性模型，以获得最佳流动性和最小的滑移

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

跨利润的交易，用于闲置资产的有效资本利用和赚取收益率

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

一个用户友好的界面和对初学者友好的功能，使所有经验级别的交易者都可以使用

4. dYdX – Most Advanced Decentralized Perps Exchange

4。DYDX - 最先进的分散perps交换

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最初建于以太坊第2层，迁移到其自己的基于COSMOS的区块链，实现了完全分散的交易，低延迟订单匹配和链结算。 DyDX凭借每日交易量为3亿美元，直接与集中交易所竞争。

It uses an off-chain order book for high-

它使用一本非链订单来进行高级