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dYdX vs Binance : which trading platform to choose?
If you hesitate between dYdX and Binance for your crypto-active trading activities, here is our precise and detailed comparison to help you make the right choice.
Table of contents
Quick presentation of dYdX and Binance
dYdX
dYdX is a decentralized trading platform specializing in perpetual contracts on crypto pairs. Cosmos SDK technology for its V4 version, it offers an entirely non-custom : users keep total control of their assets.
Binance
Binance is a centralized exchange platform launched in 2017. It is currently the largest cryptocurrency grant in the world by trading volume . It offers an extensive range of services ranging from spot trading to derivative products , including staking , launchpads and even a crypto bank card .
dYdX vs Binance : number of cryptocurrencies available
- dYdX currently offers more than 20 0 pairs of perpetual contracts , mainly on major assets such as BTC , ETH , SOL , AVAX or ATOM . The offer is more targeted and oriented towards assets with high liquidity.
- Binance offers more than 50 0 cryptocurrencies for the spot trading and more than 200 perpetual pairs for the derivative market. It is one of the platforms with the widest selection of digital assets in the world. Note that perpetual contracts are not available in all countries (future prohibited in France for example).
Comparison of trading costs between dYdX and Binance
Fresh on dYdX
The model of trading on dYdX is based on a decreasing structure according to the cumulative volume over 30 days:
- 5 BPS (0.05 %) for Takers and 1 BPS (0.01 %) for makers if your volume is less than 1 million USD .
- 4.5 BPS Taker and 1 BPS Maker for a volume greater than or equal to 1 million USD .
- 4 BPS Taker and 0.5 BPS Maker for a volume greater than or equal to 5 million USD .
- 3.5 BPS TAKER for a volume greater than or equal to 25 million USD (more reduced Maker costs).
- 3 BPS TAKER from 125 million USD cumulative volume.
- From USD 125 million and with more than 0.5 % market share, traders obtain negative ( -0.5 bps ).
- The higher the trader's market share (up to ≥4 %), the higher rebates -1.1 BPS ).
This means that on dYdX, large traders can not only reduce their costs, but be paid to provide liquidity.
Fresh on Binance
On Binance , the costs structure is different depending on the type of market:
- Spot Trading: standard costs of 0.10 % (reduced to 0.075 % if you use BNB to pay your costs).
- Futures USDⓢ-M: Fresh for a standard user:
- 0.020 % Maker
- 0.040 % Taker
For VIP traders, depending on the volume and the BNB held, the costs can drop:
- VIP 1: 0.016 % Maker / 0.040 % Taker
- VIP 2: 0.014 % Maker / 0.035 % Taker
- VIP 5: 0.008 % Maker / 0.027 % Taker
- VIP 9: 0.0020 % Maker / 0.0170 % Taker (huge volumes, greater than 25 billion USD per month).
Future costs on Binance are therefore competitive and similar to those offered by dYdX. Traders with large volumes remain more advantaged on dYdX.
Summary: dYdX or Binance for trading costs?
dYdX is distinguished by ultra-competitive costs on perpetual contracts , with a decreasing structure from $ 1 million in monthly volume, and maker rebates beyond 125 million. This system rewards active traders and encourages to provide liquidity, making the platform particularly advantageous for advanced users.
Binance retains the advantage on the Spot market , especially for small wallets thanks to fixed costs of 0.1 % (reduced to 0.075 % via BNB ). On future , its costs are similar to those of dYdX for the low volumes, but quickly become less competitive without VIP status or significant commitment in BNB .
To this is added a major constraint: Binance perpetual contracts are inaccessible in many countries, especially on the European continent . dYdX , as a non-custodial and decentralized , remains usable from most jurisdictions with a simple portfolio .
Conclusion :
- For occasional spot trading , Binance remains an accessible solution.
- For active traders, in particular on perpetuals , dYdX combines performance, reduced costs and freedom of access , making it an excellent alternative to centralized exchanges.
COMPARATION TABLE OF FRAIS dYdX VS Binance
| Platform | Type of fee | Standard | Fresh for large volumes | Particularities |
|---|---|---|---|---|
| dYdX | Future | 5 bps (0.05 %) TAKER / 1 BPS (0.01 %) Maker | 3 bps (0.03 %) TAKER, up to -1.1 BPS MAKER (rebates) | Discounts from USD volume 1m, rebates for liquidity suppliers |
| Binance | Futures USDⓢ-M | 0.020 % Maker / 0.040 % Taker | Up to 0.0020 % Maker / 0.0170 % TAKER FOR VIP 9 | Gradual reductions depending on the volume and balance in BNB |
| Binance | Spot | 0.10 % (0.075 % with BNB) | Reduction for large volumes via the VIP program | Possibility of reducing with BNB and VIP status |
dYdX vs Binance : fund safety
- dYdX is based on a non-custodial . You sign each transaction from your own portfolio (such as Képlr or Metamask ), without transferring the guard of your assets so we cannot do better in terms of security if you manage your private keys.
- Binance is guarding the funds of its users, which exposes to a risk of Custody (even if the platform is renowned for its security systems such as the SAFU ).
dYdX vs Binance : additional features
dYdX
- Trading of perpetual contracts only
- Dydx Staking DYDX the platform or via keplr
- Award program for active users (via Airdrop and Community)
For a more detailed vision of the services offered by dYdX , we invite you to read our detailed opinion on dYdX .
Binance
- Spot trading , future , options , margin trading
- Staking of hundreds of active ingredients via Binance Earn
- Launchpads to participate in IDOs
- Crypto bank card to spend your cryptos easily
- Loan service (crypto lending)
dYdX vs Binance : accessibility and regulation
Binance is sometimes inaccessible or limited in certain countries (such as the United States where Binance Us is different and childish, Italy and the Netherlands where future is prohibited). KYC KYC all services. dYdX , as Dex, does not impose identity verification for trading, which makes the platform more accessible to users seeking anonymity, while being responsible for certain jurisdictions (voluntary access to certain countries via IP).
Comparison Summary: dYdX vs Binance
| Criteria | dYdX | Binance |
|---|---|---|
| Platform type | Decentralized (Dex) | Centralized ( CEX ) |
| Cryptos number | 200+ | 500+ |
| Trading | Very low | Very competitive on spot and derivatives |
| Funding of funds | Non-custodial | Custodial |
| Additional features | Staking, Airdrops | Staking, Lending, Launchpad, Bank Card |
| Accessibility | Without KYC | Compulsory KYC |
Our opinion on dYdX vs Binance
The choice between dYdX and Binance mainly depends on your strategy and your priorities:
- If you are looking to trader perpetual by keeping control of your funds and by reducing your costs to the maximum, dYdX is an excellent option.
- If you only want to access a wide choice of spot trading , without necessarily using derivative products, or if you live in a country where Binance future remains available, then Binance can be a practical option - while keeping in mind that it is a centralized .
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Yohan Uzzan
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
