Best DEX Platforms: Complete Comparison 2025

The decentralized exchange (DEX) landscape has exploded in 2025, with over $100 billion in total value locked across dozens of platforms. But which DEX is best for your needs? This comprehensive guide compares the top 10 DEX platforms to help you make an informed choice.

TL;DR - Quick Comparison Table

| DEX | Chains | TVL | Daily Volume | Fee Structure | Best For | |-----|--------|-----|--------------|---------------|----------| | Uniswap | Ethereum, Polygon, Arbitrum, Optimism, Base | $5.2B | $1.8B | 0.01%-1% | General trading, LP | | Curve | Multi-chain | $3.8B | $800M | 0.04% | Stablecoins, low slippage | | PancakeSwap | BSC, Ethereum, Aptos | $2.1B | $650M | 0.25% | BSC ecosystem, low fees | | dYdX | Ethereum, own chain | $900M | $2.5B | 0.02%-0.05% | Perpetuals trading | | Balancer | Multi-chain | $1.2B | $300M | Variable | Custom pools, portfolio | | SushiSwap | 30+ chains | $850M | $280M | 0.3% | Multi-chain, variety | | GMX | Arbitrum, Avalanche | $780M | $450M | 0.1% | Leveraged trading | | Trader Joe | Avalanche, Arbitrum, BSC | $320M | $180M | 0.3% | Avalanche ecosystem | | Osmosis | Cosmos | $280M | $120M | Variable | Cosmos ecosystem | | Camelot | Arbitrum | $240M | $150M | 0.3% | Arbitrum native, launchpad |

Data as of December 2025

Detailed Platform Comparisons

1. Uniswap - The Market Leader

Overview

Uniswap is the largest and most influential DEX, pioneering the automated market maker (AMM) model. With versions V2 and V3 both active, it offers flexibility for traders and liquidity providers.

Key Features

Strengths:

✅ Highest liquidity for most pairs
✅ Best price execution for large trades
✅ Concentrated liquidity (V3)
✅ Multiple fee tiers (0.01%, 0.05%, 0.3%, 1%)
✅ Strong security track record
✅ No KYC required
✅ Multi-chain support

Weaknesses:

❌ High gas fees on Ethereum mainnet
❌ Complex for beginners (V3)
❌ Active management needed for V3 LP
❌ No native token utility (UNI is governance-only)

Metrics

Total Value Locked: $5.2 billion
Daily Volume: $1.8 billion
Number of Tokens: 5,000+
Supported Chains: 8
Average Slippage (ETH/USDC): 0.02% on $100K

Fee Structure

V3 Four-tier system:

0.01%: Stablecoin pairs
0.05%: Correlated assets
0.3%: Standard pairs
1%: Exotic pairs

V2 Single tier:

0.3% on all pairs

Best For

Large volume traders needing best execution
Experienced LPs seeking high yields
Projects launching new tokens
Multi-chain DeFi users

Learn More

2. Curve Finance - The Stablecoin King

Overview

Curve specializes in stablecoin and pegged asset trading, using custom bonding curves that minimize slippage and impermanent loss for similar-value assets.

Key Features

Strengths:

✅ Best rates for stablecoin swaps
✅ Extremely low slippage
✅ Minimal impermanent loss for stable pairs
✅ CRV token rewards for LPs
✅ Vote-escrowed tokenomics (veCRV)
✅ Factory pools allow anyone to create
✅ Multi-chain deployment

Weaknesses:

❌ Complex tokenomics
❌ Limited to similar-value assets
❌ High gas costs for small trades
❌ Steep learning curve for voting

Metrics

Total Value Locked: $3.8 billion
Daily Volume: $800 million
Number of Pools: 200+
Supported Chains: 10+
Average Slippage (USDC/USDT): 0.001% on $1M

Fee Structure

Base fee: 0.04% (one of the lowest)
Admin fee: 50% to veCRV holders
LP receives: 0.02% per swap

Best For

Stablecoin arbitrage traders
Large stablecoin swaps
LPs seeking stable, low-IL returns
DeFi protocols integrating stablecoin swaps

APY Examples

USDC/USDT/DAI 3pool:

Base APY: 2-4%
CRV rewards: 3-8%
Total APY: 5-12%

stETH/ETH pool:

Base APY: 3-5%
CRV rewards: 5-12%
LDO rewards: 2-4%
Total APY: 10-21%

3. PancakeSwap - BSC's Dominant DEX

Overview

PancakeSwap is Binance Smart Chain's largest DEX, offering low fees and fast transactions. Recently expanded to Ethereum and Aptos chains.

Key Features

Strengths:

✅ Very low transaction fees (<$0.50)
✅ Fast confirmations (3 seconds)
✅ V3 with concentrated liquidity
✅ Extensive BSC token coverage
✅ Additional features (lottery, NFTs, predictions)
✅ CAKE staking rewards
✅ Cross-chain bridge integrated

Weaknesses:

❌ Lower security than Ethereum
❌ BSC centralization concerns
❌ Less liquidity than Ethereum DEXs
❌ More scam tokens on BSC

Metrics

Total Value Locked: $2.1 billion
Daily Volume: $650 million
Number of Tokens: 3,000+
Supported Chains: 3 (BSC, Ethereum, Aptos)
Average Gas Fee: $0.30-0.80

Fee Structure

V2:

Trading fee: 0.25%
LP receives: 0.17%
Treasury: 0.08%

V3:

Multiple tiers: 0.01%, 0.05%, 0.25%, 1%
100% to LPs

Best For

BSC ecosystem users
High-frequency traders (low fees)
Retail traders with smaller positions
Yield farmers seeking CAKE rewards

4. dYdX - Perpetuals Trading Leader

Overview

dYdX is the leading decentralized derivatives exchange, offering perpetual contracts with up to 20x leverage. Recently migrated to its own Cosmos-based chain.

Key Features

Strengths:

✅ Highest leveraged trading volume
✅ Professional trading interface
✅ Order book model (not AMM)
✅ No gas fees on v4 (own chain)
✅ Cross-margin trading
✅ Advanced order types
✅ Mobile app available

Weaknesses:

❌ Not true DEX (centralized order matching)
❌ Geographic restrictions (KYC for US)
❌ Complex for beginners
❌ Limited to perpetuals (no spot)
❌ Liquidation risks

Metrics

Total Value Locked: $900 million
Daily Volume: $2.5 billion (highest for derivatives)
Available Markets: 50+ perpetuals
Maximum Leverage: 20x
Maker Fee: 0.02%
Taker Fee: 0.05%

Best For

Experienced traders
Leveraged position trading
Professional market makers
Those seeking advanced trading features

5. Balancer - Customizable Liquidity Pools

Overview

Balancer allows creation of custom liquidity pools with up to 8 tokens and custom weightings, making it unique among DEXs. Think of it as a programmable index fund.

Key Features

Strengths:

✅ Custom pool ratios (not just 50/50)
✅ Multi-token pools (up to 8 assets)
✅ Lower impermanent loss potential
✅ Portfolio management through pools
✅ Boosted pools with gauges
✅ BAL governance token
✅ Concentrated liquidity pools

Weaknesses:

❌ Lower volumes than competitors
❌ Complex pool creation
❌ Higher gas costs for multi-token swaps
❌ Smaller token selection

Metrics

Total Value Locked: $1.2 billion
Daily Volume: $300 million
Number of Pools: 1,500+
Supported Chains: 8
Pool Types: Weighted, Stable, Boosted, Managed

Fee Structure

Variable fees: Set by pool creator (typically 0.1%-1%)
Protocol fee: 50% of swap fees
LP receives: 50% of swap fees

Use Cases

80/20 Pools:

80% project token, 20% WETH
Less impermanent loss than 50/50
Popular for new token launches

Stable Pools:

Similar to Curve for stablecoins
Low slippage for pegged assets

Managed Pools:

Dynamic weights
Portfolio rebalancing
Index funds

Best For

Projects launching tokens
Portfolio managers
LPs seeking reduced IL
Custom liquidity strategies

6. SushiSwap - The Multi-Chain Pioneer

Overview

SushiSwap started as a Uniswap fork but has evolved into a comprehensive DeFi platform across 30+ chains, offering DEX, lending, and more.

Key Features

Strengths:

✅ Deployed on 30+ chains
✅ Consistent UX across chains
✅ Additional DeFi features (Kashi lending)
✅ SUSHI rewards for LPs
✅ xSUSHI staking
✅ Onsen incentive programs
✅ Active community

Weaknesses:

❌ Lower liquidity than top DEXs
❌ Governance disputes
❌ Treasury management concerns
❌ Diluted focus across many chains

Metrics

Total Value Locked: $850 million
Daily Volume: $280 million
Supported Chains: 30+
Number of Tokens: 4,000+
Fee: 0.3% per swap

Fee Distribution

LP receives: 0.25%
xSUSHI stakers: 0.05%

Best For

Multi-chain users
LPs seeking SUSHI rewards
Projects needing multi-chain liquidity
Explorers of new chains

7. GMX - Decentralized Perpetuals

Overview

GMX offers spot and perpetual trading with up to 50x leverage, using a unique multi-asset pool (GLP) to provide liquidity.

Key Features

Strengths:

✅ Up to 50x leverage
✅ Zero price impact trades
✅ No slippage for most trades
✅ GLP staking yields (30-50% APY)
✅ Real-time Chainlink pricing
✅ No counterparty risk
✅ Minimal fees (0.1%)

Weaknesses:

❌ GLP holders take on trader risk
❌ Limited to Arbitrum and Avalanche
❌ Smaller market than centralized exchanges
❌ No limit orders (only market)

Metrics

Total Value Locked: $780 million
Daily Volume: $450 million
Available Markets: 10+ perpetuals
Maximum Leverage: 50x
Trading Fee: 0.1%

GLP Pool

Composition:

ETH, BTC, LINK, UNI (crypto assets)
USDC, USDT, DAI (stablecoins)
Dynamic rebalancing

Returns for GLP Holders:

Base APY: 20-30%
Escrowed GMX rewards: 10-20%
Total APY: 30-50%

Best For

Leveraged traders
GLP liquidity providers
Arbitrum users
Those seeking real yield (not inflationary rewards)

8. Trader Joe - Avalanche's Native DEX

Overview

Trader Joe is Avalanche's leading DEX, now expanded to Arbitrum and BSC. Features liquidity book for concentrated liquidity and reduced impermanent loss.

Key Features

Strengths:

✅ Liquidity Book innovation
✅ Very low fees on Avalanche
✅ Fast transactions (sub-second)
✅ Launch pad for new projects
✅ Lending markets
✅ JOE token rewards
✅ Clean, modern interface

Weaknesses:

❌ Smaller than Ethereum DEXs
❌ Limited to 3 chains
❌ Lower liquidity for exotic pairs
❌ Avalanche ecosystem concentration risk

Metrics

Total Value Locked: $320 million
Daily Volume: $180 million
Supported Chains: 3 (Avalanche, Arbitrum, BSC)
Trading Fee: 0.3%
Average Gas: $0.10-0.50

Liquidity Book

Unique features:

Fungible liquidity bins
Customizable liquidity distribution
Zero slippage within bins
Reduced impermanent loss

Best For

Avalanche ecosystem users
Traders seeking low fees
LPs using liquidity book
New project launches

9. Osmosis - Cosmos Ecosystem DEX

Overview

Osmosis is the leading DEX in the Cosmos ecosystem, featuring customizable AMMs and IBC (Inter-Blockchain Communication) integration.

Key Features

Strengths:

✅ Built specifically for Cosmos
✅ IBC enables cross-chain swaps
✅ Superfluid staking (LP + stake simultaneously)
✅ Low fees ($0.01-0.05)
✅ Fast finality
✅ Custom AMM parameters
✅ OSMO incentives

Weaknesses:

❌ Limited to Cosmos ecosystem
❌ Smaller user base
❌ Less liquidity than Ethereum DEXs
❌ Requires Keplr wallet

Metrics

Total Value Locked: $280 million
Daily Volume: $120 million
Number of Pools: 800+
Supported Chains: 50+ (via IBC)
Average Fee: Variable (0.1%-1%)

Unique Features

Superfluid Staking:

LP tokens used for staking
Earn trading fees + staking rewards
Increased capital efficiency

Best For

Cosmos ecosystem users
Those seeking low-fee trading
ATOM holders
Cross-chain Cosmos swaps

10. Camelot - Arbitrum's Native DEX

Overview

Camelot is Arbitrum's community-driven DEX, featuring a unique tokenomics model and launchpad for new projects.

Key Features

Strengths:

✅ Arbitrum native with low fees
✅ Unique ve(3,3) tokenomics
✅ Launchpad for new projects
✅ Nitro pools for focused incentives
✅ NFT marketplace integration
✅ Strong community

Weaknesses:

❌ Single chain only
❌ Smaller than established DEXs
❌ Complex tokenomics
❌ Newer platform (higher risk)

Metrics

Total Value Locked: $240 million
Daily Volume: $150 million
Number of Pairs: 300+
Trading Fee: 0.3%
Average Gas: $0.20-0.60

Best For

Arbitrum ecosystem users
Early supporters of new projects
Yield farmers seeking high APY
NFT collectors (integrated marketplace)

Feature Comparison Matrix

Trading Experience

| Feature | Uniswap | Curve | PancakeSwap | dYdX | Balancer | SushiSwap | GMX | Trader Joe | Osmosis | Camelot | |---------|---------|-------|-------------|------|----------|-----------|-----|------------|---------|---------| | Ease of Use | ⭐⭐⭐⭐ | ⭐⭐⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐ | ⭐⭐⭐ | ⭐⭐⭐⭐ | ⭐⭐⭐ | ⭐⭐⭐⭐ | ⭐⭐⭐ | ⭐⭐⭐⭐ | | Mobile App | ✅ | ❌ | ✅ | ✅ | ❌ | ❌ | ✅ | ❌ | ✅ | ❌ | | Advanced Orders | ❌ | ❌ | ❌ | ✅ | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ | | Price Charts | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | | Limit Orders | ✅ | ❌ | ✅ | ✅ | ❌ | ✅ | ❌ | ✅ | ❌ | ❌ | | Slippage Control | ✅ | ✅ | ✅ | N/A | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ |

Liquidity Provider Features

| Feature | Uniswap | Curve | PancakeSwap | dYdX | Balancer | SushiSwap | GMX | Trader Joe | Osmosis | Camelot | |---------|---------|-------|-------------|------|----------|-----------|-----|------------|---------|---------| | Concentrated Liquidity | ✅ (V3) | ❌ | ✅ (V3) | N/A | ✅ | ❌ | N/A | ✅ | ❌ | ❌ | | Multiple Fee Tiers | ✅ | ❌ | ✅ | N/A | ✅ | ❌ | N/A | ❌ | ✅ | ❌ | | Yield Farming | ❌ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | | Impermanent Loss Protection | ❌ | Low (stable) | ❌ | N/A | Medium | ❌ | ✅ (GLP) | Medium | ❌ | ❌ | | Auto-compound | ❌ | ✅ | ✅ | N/A | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ |

Cost Comparison (Typical Trade)

| Platform | Network | $100 Trade | $1,000 Trade | $10,000 Trade | |----------|---------|------------|--------------|---------------| | Uniswap | Ethereum | $15-30 | $15-30 | $20-40 | | Uniswap | Arbitrum | $0.50-2 | $0.50-2 | $0.80-3 | | Curve | Ethereum | $20-40 | $20-40 | $25-50 | | PancakeSwap | BSC | $0.30-0.80 | $0.30-0.80 | $0.40-1 | | dYdX | Own chain | $0 | $0 | $0 | | Balancer | Ethereum | $18-35 | $18-35 | $22-45 | | SushiSwap | Arbitrum | $0.40-1.50 | $0.40-1.50 | $0.60-2 | | GMX | Arbitrum | $0.50-2 | $0.50-2 | $0.80-3 | | Trader Joe | Avalanche | $0.10-0.50 | $0.10-0.50 | $0.20-0.80 | | Osmosis | Cosmos | $0.01-0.05 | $0.01-0.05 | $0.02-0.10 | | Camelot | Arbitrum | $0.40-1.50 | $0.40-1.50 | $0.60-2 |

Gas fees are estimated and vary with network congestion

Security Comparison

Audit History

| Platform | Auditors | Last Audit | Security Incidents | |----------|----------|------------|-------------------| | Uniswap | Trail of Bits, ABDK, others | 2023 | None (V2/V3) | | Curve | Trail of Bits, MixBytes | 2024 | Front-end exploit 2023 (resolved) | | PancakeSwap | CertiK, Peckshield | 2024 | DNS hijack 2023 (resolved) | | dYdX | Trail of Bits, Peckshield | 2024 | Insurance fund deficit 2022 | | Balancer | Trail of Bits, OpenZeppelin | 2024 | V1 exploit 2020 (V2 secure) | | SushiSwap | Peckshield, QuantStamp | 2023 | MISO exploit 2021 | | GMX | Peckshield, ABDK | 2024 | None | | Trader Joe | Paladin, Solidity Finance | 2024 | None | | Osmosis | Informal Systems, Oak Security | 2024 | None | | Camelot | Peckshield, Solidity Finance | 2024 | None |

Security Best Practices

✅ All platforms:

Use hardware wallets for large amounts
Verify contract addresses
Check token approvals regularly
Enable 2FA where available
Beware of phishing sites

Use Case Recommendations

For Beginners

Recommended: PancakeSwap, SushiSwap, Camelot

Simple interfaces
Low fees for learning
Good documentation

For Large Traders ($10K+)

Recommended: Uniswap, Curve, dYdX

Best liquidity
Minimal slippage
Professional features

For Stablecoin Swaps

Recommended: Curve, Balancer (stable pools)

Lowest slippage
Minimal impermanent loss
Best rates

For Leveraged Trading

Recommended: dYdX, GMX

High leverage options
Advanced order types
Professional interfaces

For Yield Farming

Recommended: PancakeSwap, SushiSwap, Trader Joe

High APY opportunities
Token incentives
Multiple pools

For Multi-Chain Users

Recommended: SushiSwap, Balancer, Uniswap

Consistent UX across chains
Wide chain support
Established security

For Low-Fee Trading

Recommended: Osmosis, Trader Joe, PancakeSwap

Sub-$1 transaction costs
Fast confirmation
Good for frequent trading

How to Choose the Right DEX

Step 1: Identify Your Primary Need

Trading:

High frequency → Low-fee chains (BSC, Avalanche, Arbitrum)
Large positions → High liquidity (Uniswap, Curve)
Leverage → Perpetuals platforms (dYdX, GMX)

Liquidity Providing:

Passive income → Stable pairs (Curve, Balancer stable pools)
Active management → Concentrated liquidity (Uniswap V3)
High yield → Incentivized pools (PancakeSwap, Trader Joe)

Step 2: Consider Your Chain Preference

Ethereum:

Most secure, highest liquidity
High gas fees
Best for large positions

BSC:

Very low fees
Fast transactions
More scam risk

Arbitrum/Optimism:

Ethereum security
Lower fees
Good middle ground

Avalanche:

Very fast
Low fees
Growing ecosystem

Cosmos:

Lowest fees
IBC cross-chain
Smaller ecosystem

Step 3: Evaluate Costs

Calculate total costs:

Gas fees
Trading fees
Slippage
Opportunity cost

Example: $5,000 position

Ethereum Uniswap:

Gas: $30
Trading fee: $15 (0.3%)
Total: $45

Arbitrum Uniswap:

Gas: $1
Trading fee: $15 (0.3%)
Total: $16

BSC PancakeSwap:

Gas: $0.50
Trading fee: $12.50 (0.25%)
Total: $13

Step 4: Check Liquidity

For your specific trading pair:

Check TVL in the pool
Test with small amount first
Monitor slippage

Liquidity indicators:

$1M+ TVL: Good for trades up to $10K
$10M+ TVL: Good for trades up to $100K
$100M+ TVL: Good for trades up to $1M

Step 5: Assess Risk Tolerance

Low risk:

Established platforms (Uniswap, Curve)
Audited contracts
Ethereum network

Medium risk:

Newer platforms with audits
Layer 2 networks
Reputable teams

High risk:

New platforms (<6 months)
Unaudited contracts
High APY promises (>100%)

Advanced Strategies

Strategy 1: Multi-DEX Arbitrage

Monitor price differences across DEXs:

Example:

ETH on Uniswap: $2,000
ETH on SushiSwap: $2,005
Profit: $5 per ETH (minus gas)

Tools:

DEX aggregators (1inch, Paraswap)
Price monitoring bots
Flashloan arbitrage

Strategy 2: DEX Aggregation

Use aggregators to find best prices:

Benefits:

Compare multiple DEXs simultaneously
Split orders across platforms
Minimize slippage

Top aggregators:

1inch
Paraswap
Matcha
CowSwap

Strategy 3: Cross-DEX Liquidity Providing

Diversify LP positions across platforms:

Example portfolio:

40% Uniswap V3 (ETH/USDC, tight range)
30% Curve (stablecoin pool)
20% PancakeSwap (low-risk farming)
10% New platform (high yield, high risk)

Strategy 4: Yield Optimization

Maximize returns through:

Compounding rewards
Yield aggregators (Yearn, Beefy)
Reward token selling strategy
Tax-loss harvesting

Common Mistakes to Avoid

❌ Mistake 1: Ignoring Gas Fees

Problem: Gas costs eat profits on small trades Solution: Use L2s or alternative chains for <$1K trades

❌ Mistake 2: Not Checking Liquidity

Problem: High slippage on illiquid pairs Solution: Check TVL before trading, use aggregators

❌ Mistake 3: Forgetting Impermanent Loss

Problem: LP positions lose value despite fees Solution: Use IL calculator before providing liquidity

❌ Mistake 4: Using Wrong DEX for Use Case

Problem: Trading stablecoins on Uniswap instead of Curve Solution: Match DEX to asset type

❌ Mistake 5: Not Revoking Token Approvals

Problem: Unlimited approvals are security risk Solution: Regularly check and revoke at revoke.cash

❌ Mistake 6: FOMO into High APY

Problem: Unsustainable yields collapse Solution: Research tokenomics, diversify

❌ Mistake 7: Neglecting Security

Problem: Phishing, fake sites, unaudited contracts Solution: Verify URLs, use bookmarks, check audits

Future Trends in DEX Evolution

1. Intent-Based Trading

New protocols allowing users to express intents rather than specific routes:

CoWSwap already implementing
Better MEV protection
Simplified UX

2. Cross-Chain Atomic Swaps

True cross-chain trading without bridges:

Lower friction
Reduced bridge risks
Better capital efficiency

3. AI-Powered Routing

Machine learning optimizing trade routes:

Dynamic fee optimization
MEV protection
Predictive slippage

4. On-Chain Order Books

Combining CEX efficiency with DEX security:

Lower gas costs
Better price discovery
Professional trading features

5. Regulatory Compliance

DEXs adapting to regulations:

Optional KYC tiers
Geo-restrictions
Compliance-friendly features

Tools and Resources

Essential DEX Tools

Price Comparison:

Token Price Calculator - Compare prices across chains
DeFi Llama - TVL and volume tracking
GeckoTerminal - DEX charts and analytics

Liquidity Management:

Impermanent Loss Calculator
APY.vision - LP position tracking
Revert Finance - Uniswap V3 management

Security:

Revoke.cash - Manage token approvals
Wallet Guard - Phishing protection
De.Fi Scanner - Approval management

Portfolio Tracking:

Portfolio Tracker
DeBank - Multi-chain portfolio
Zapper - Position management

Conclusion: Best DEX for Different Users

🏆 Overall Winner: Uniswap

Best combination of liquidity, security, and features

💰 Best for Low Fees: Osmosis

Consistently lowest transaction costs

📊 Best for Stablecoins: Curve

Unmatched slippage and rates for stable assets

🎯 Best for Beginners: PancakeSwap

Simple interface, low costs, good documentation

📈 Best for Advanced Trading: dYdX

Professional features and leverage

🌐 Best for Multi-Chain: SushiSwap

Most chains with consistent experience

💎 Best for Yield: GMX

Sustainable real yield for GLP holders

⚡ Best for Speed: Trader Joe (Avalanche)

Sub-second transactions

Take Action

For Traders:

Start with test trades
- Try $100-200 first
- Compare fees and execution
- Find your preferred platform
Use price comparison tools
- Check token prices across chains
- Use DEX aggregators
- Monitor gas fees
Learn platform-specific features
- Each DEX has unique advantages
- Understand fee structures
- Master the interface

For Liquidity Providers:

Calculate your potential returns
- Use IL Calculator
- Compare APYs across platforms
- Factor in gas costs
Start with stable pairs
- Lower impermanent loss
- Learn LP mechanics
- Build confidence
Diversify across platforms
- Reduce platform risk
- Optimize for different pairs
- Balance active/passive strategies

Frequently Asked Questions

Q: Which DEX has the lowest fees? Osmosis has the lowest transaction fees ($0.01-0.05). For trading fees, Curve is lowest at 0.04%.

Q: Is it safe to use DEXs? Established DEXs like Uniswap and Curve are generally safe, but always verify contract addresses and be aware of smart contract risks.

Q: Can I lose money providing liquidity? Yes, through impermanent loss. Use our IL calculator to estimate risk.

Q: Which DEX is best for beginners? PancakeSwap or SushiSwap due to simple interfaces and low fees for learning.

Q: Do I need to pay gas fees on all DEXs? Gas fees vary by blockchain. Ethereum is highest ($5-50), while BSC/Avalanche are very low ($0.10-1).

Q: Can I use DEXs anonymously? Most DEXs require no KYC, but some (like dYdX) have restrictions. Always check terms.

Q: How do I know if a DEX is legitimate? Check for audits, TVL, daily volume, time in operation, and team transparency.

Related Tools & Guides

Data and rankings updated December 2025. DEX metrics change rapidly - always verify current data before making decisions.

Disclaimer: This comparison is for educational purposes only. Always do your own research before trading or providing liquidity. DeFi involves risks including smart contract vulnerabilities, impermanent loss, and market volatility.