dYdX price and where to buy DYDX

What is dYdX?

dYdX is a decentralised exchange for perpetual futures that runs on its own blockchain. DYDX is staked by the chain’s validators, and trading fees are paid out to stakers.

How to buy dYdX, step by step

1. Pick an exchange. DYDX is listed on every exchange we track. Compare fees, funding options and whether it serves your country in our exchange reviews.
2. Create and verify your account. Regulated exchanges ask for identity documents before you can deposit fiat.
3. Fund the account. A bank transfer or a stablecoin deposit usually costs far less than a card payment.
4. Buy DYDX. Use the DYDX/USDT or DYDX/USD market, and check the cheapest venue in the table above first.
5. Decide where to keep it. On the exchange is simplest, but the exchange then holds your coins. DYDX exists on the dYdX chain and as a token on Ethereum; choose the network your wallet expects.

Where to buy dYdX at the best price

The cheapest venue right now is marked in the table above. Add its trading fee before comparing: on DYDX the venues disagree by about 0.19 percent on average, so on a small purchase the fee and the funding method usually matter more.

• The price on that venue. Each row shows the gap to our composite.
• The trading fee. Our fee comparison lists spot fees side by side.
• How you fund the account. A bank transfer or stablecoin deposit is usually far cheaper than a card payment, which often costs several percent.

Why the dYdX price differs between exchanges

In our minute-by-minute measurement the gap between the highest and lowest venue averaged about 0.19 percent, against about 0.025 percent for Bitcoin. It went above half a percent in about 32 minutes out of every thousand, and reached about 1.2 percent at its widest.

About a third of the DYDX spot volume we track trades on a single venue. The spread figure at the top of this page is the live measurement; our guide on why crypto prices differ between exchanges explains the mechanism.

What moves the dYdX price

The wider crypto market, and in DYDX’s case its own news too. In our hourly composite, DYDX moved with Bitcoin at a correlation of about 0.53, where 1 would mean identical moves, and its moves were about two and a half times the size of Bitcoin’s.

DYDX-specific drivers come on top: trading volume on the dYdX exchange, which funds staking rewards, and leverage. The funding rates on this page show whether leveraged traders are paying to be long or short right now.

Pros and cons of dYdX

Pros

• Stakers receive a share of trading fees.
• Its volume is spread across venues rather than concentrated on one.

Cons

• One of the wider price gaps between exchanges we track, about eight times Bitcoin’s.
• Its hourly moves were about two and a half times Bitcoin’s in our data.
• It trades far below its all-time high of about $27.9.

dYdX’s highest price

dYdX’s all-time high is about $27.9 on volume-weighted data. The chart above shows the last 30 days of our composite, and the DYDX to USD converter applies the live price to any amount.