Comparison of dYdX vs Orca [ 2024 ]

The best cryptocurrency exchanges compared by their commissions, products offered, security and much more. Here is the dYdX vs Orca comparison!

Your expert: Alejandro Borja

dYdX

dYdX

Your expert: Xavier Tarrasó

orca

Orca

Main points

Fees

0,10%/0,05%
NFTs
Yes

Native token

Token DYDX
<0,10%

Fees

No
NFTs
Token ORCA
Native token

Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

No
Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive trading fees, especially for advanced trading features, but higher costs for gas fees on Layer 1.
4.6 – Low transaction fees on the Solana blockchain, making it very cost-effective.

Level

0,10%/0,05%
<0,10%

Brief explanation

dYdX employs a competitive fee structure that benefits both low-volume and high-volume traders. For trading, the platform uses a maker-taker fee model. Maker fees, for orders that rest on the order book and provide liquidity, range from 0% to 0.02%, while taker fees, for orders that remove liquidity, range from 0.05% to 0.1% based on trading volume. Notably, dYdX offers zero trading fees for users with a 30-day trading volume below $100,000​​. Additionally, holding the platform’s native DYDX token can earn users up to a 50% discount on trading fees​​. For withdrawals, there are no fees for standard transactions, but a 0.1% fee applies for fast withdrawals​​. There are no deposit fees, making dYdX a cost-effective choice for active traders​​.
Orca operates on the Solana blockchain, allowing it to offer exceptionally low trading fees. Typically, each transaction on Orca incurs a fee of approximately $0.00001, thanks to Solana’s efficient and cost-effective network. This is significantly lower than the fees seen on many Ethereum-based exchanges. Orca’s fee structure is transparent and straightforward, with no hidden charges, ensuring that users understand exactly what they are paying. Additionally, users can provide liquidity to Orca’s pools, earning a portion of the trading fees as rewards, further enhancing the appeal of this decentralized exchange.

dYdX

Orca

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Product selection

Native token

Yes, the native token is DYDX.
Yes, the native token is ORCA.

Earns

Yes, dYdX offers EARN opportunities mainly through staking DYDX tokens for staking rewards and liquidity provider incentives.
Yes, Orca provides EARN opportunities through yield farming, staking ORCA tokens, and participating in double-dip pools for dual rewards.

NFT marketplace

No, dYdX does not have an NFT marketplace.
No, Orca does not have an NFT marketplace.

Cripto/debit card

No, dYdX does not offer a debit card.
No, Orca does not offer a debit card.

Company information

Full name

dYdX Trading Inc.
Orca

Regulation

No, dYdX is not regulated by any specific financial regulatory authority, although it operates under compliance with general regulations for financial products and services.
No, Orca is not regulated by any specific financial regulatory authority.

Year founded

2017
2021

Founder

Antonio Juliano
Grace “Ori” Kwan and Yutaro “Rawfal” Mori

Payment methods

Transfers

Deposits: Cryptocurrency transfers; Withdrawals: Cryptocurrency transfers.
Deposits: Cryptocurrency transfers; Withdrawals: Cryptocurrency transfers.

Mastercard

No, dYdX does not support direct deposits via Mastercard. It only allows transactions through wallet connections.
No, Orca does not support direct deposits via Mastercard. It only allows transactions through wallet connections.

Wire transfer

No, dYdX does not support direct deposits via wire transfer. It only allows transactions through wallet connections.
No, Orca does not support direct deposits via wire transfer. It only allows transactions through wallet connections.

Card

No, dYdX does not support direct deposits via credit card. It only allows transactions through wallet connections.
No, Orca does not support direct deposits via credit card. It only allows transactions through wallet connections.

Comparative table

dYdX FEATURES Orca
dYdX allows relatively low minimum trades, suitable for both small and large investors, though not the lowest in the market.
Minimum Trade
Orca allows users to trade with relatively low minimums, suitable for beginners wanting to start with smaller amounts.
dYdX offers highly competitive fee structures, especially on Layer 2, minimizing costs significantly for traders.
Trading and Transaction Fees
Orca offers competitive low fees on transactions, leveraging Solana’s low-cost structure to benefit users.
The selection of cryptocurrencies is somewhat limited, focusing primarily on major assets which restricts diversity in trading.
Number of Cryptocurrencies
Limited primarily to SPL tokens, Orca’s selection is growing but still less extensive compared to multi-chain DEXs.
Offers a moderate range of crypto-to-crypto trading pairs, primarily focused on major cryptocurrencies, limiting options for altcoin traders.
Crypto-to-Crypto Trading Pairs
Offers a solid range of trading pairs within the Solana ecosystem, though limited outside of it.
The platform excels in transparency, with open access to smart contracts and clear, public documentation of its operational protocols.
Website Transparency
High transparency with clear information on trading mechanics and fee structures directly on their website.
dYdX operates primarily on Ethereum and has integrated Layer 2 solutions, enhancing speed and reducing costs, though it’s not available on multiple blockchains.
Credit/Debit Card
Currently operates solely on the Solana network, which may be restrictive for users seeking multi-chain options.
As a non-custodial exchange, dYdX allows users to maintain control over their private keys, though it doesn’t provide custody services itself.
Storage Offering
As a non-custodial DEX, Orca does not offer storage; users maintain control of their private keys.
dYdX offers some staking options and rewards, mainly focused on liquidity providers, but it’s not as extensive or diverse as some might prefer.
Staking and Rewards
Provides opportunities for staking and earning rewards, enhancing the profitability for liquidity providers.
The dYdX website is user-friendly, well-designed, and offers all necessary information readily accessible, making it easy for users to navigate.
Mobile App and Desktop
The website is user-friendly, well-designed, and easy to navigate, making trading straightforward for all users.
Customer service is adequate with support channels available, but feedback suggests there could be improvements in response times and support reach.
Customer Service
Customer support is available, but as a decentralized platform, it may not be as robust as services offered by centralized exchanges.
Deposits and withdrawals are efficiently handled via smart contracts, although options are limited to cryptocurrencies with no fiat support.
Deposit and Withdraw
Instant and direct from user wallets, Orca facilitates seamless deposits and withdrawals without holding user funds.

Key features

Analysis tools

Advanced trading charts, order book depth, margin and leverage calculators, risk management tools, and historical trade data.
Basic trading charts, price tracking, liquidity pool analytics, and transaction history.

Mobile APP

Yes, dYdX has a mobile app available for both iOS and Android.
No, Orca does not have a dedicated mobile app, but it can be accessed via mobile browsers.

Security

dYdX emphasizes security through extensive smart contract audits, multi-signature wallets, and robust risk management tools. The platform also utilizes Layer 2 scaling solutions to provide secure and cost-effective transactions.
Orca operates on the Solana blockchain, known for its high security and low transaction costs. The platform has undergone security audits and emphasizes transparency and community trust.

Additional features

dYdX provides Layer 2 scaling for faster and cheaper transactions, insurance funds to protect traders from extreme losses, and perpetual contracts for advanced trading strategies.
Orca features an innovative Fair Price Indicator to ensure users get the best rates, a user-friendly token swap interface, and double-dip pools where users can earn rewards in two tokens simultaneously.

Anonymity

No, dYdX typically requires identity verification, especially for advanced trading features and higher withdrawal limits, due to regulatory compliance.
Yes, Orca allows users to trade anonymously by connecting their wallets, without requiring personal information.

Key points

Available cryptocurrencies

Ethereum (ETH), Bitcoin (BTC), dYdX (DYDX), Tether (USDT), USD Coin (USDC), and other popular ERC-20 tokens.
Solana (SOL), Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Tether (USDT), and various SPL tokens on the Solana network.

User-friendliness

dYdX is designed for more experienced traders, offering advanced trading options like margin trading and perpetual contracts. While its user interface is clean and professional, the complexity of its trading tools might not be suitable for beginners.
Orca stands out for its simplicity and ease of use, making it a great choice for beginners. The platform’s intuitive interface and focus on user experience make trading straightforward and accessible, although its feature set is less comprehensive compared to more advanced platforms.

Value for money

dYdX delivers significant value, especially for advanced traders looking for margin trading and perpetual contracts. Despite being on Ethereum, its sophisticated tools and zero gas fees on Layer 2 trades make it a worthwhile investment for serious traders.
Orca offers excellent value for money with its low transaction fees on the Solana blockchain, ensuring fast and inexpensive trades. The platform’s emphasis on simplicity and cost-efficiency makes it highly attractive to budget-conscious users.

Countries of operation

Available globally, with some restrictions in countries like the US due to regulatory concerns.
Available globally, focusing on regions supporting Solana.

Best for

Geared towards advanced traders and institutional investors who require sophisticated trading tools like margin trading and perpetual contracts. Its robust platform is ideal for those seeking high leverage and advanced order types.
Designed for beginners and intermediate traders who prioritize ease of use and low fees. Its straightforward interface and quick transaction times make it a great choice for those new to DeFi and the Solana ecosystem.

Account

Trading

dYdX stands out for its advanced trading features, including margin trading and perpetual contracts. It is built on Ethereum, providing a secure and decentralized trading environment. The platform is ideal for experienced traders but might be overwhelming for beginners due to its advanced tools and higher transaction fees.
Orca is a user-friendly DEX on the Solana blockchain, offering low transaction fees and fast trade execution. It provides a simple interface suitable for beginners and experienced traders alike. However, its trading pair selection is currently limited compared to more established DEXes.

Deposit and withdrawal

dYdX supports Ethereum-based wallets like MetaMask for deposits and withdrawals. Users need to deposit funds into the platform to utilize advanced features like margin trading. While dYdX offers high security and control, Ethereum’s high gas fees can make the deposit and withdrawal process expensive, especially for smaller transactions.
Orca, operating on the Solana blockchain, benefits from Solana’s low transaction fees and fast processing times. Users can connect Solana-compatible wallets such as Phantom for seamless deposits and withdrawals. This makes trading on Orca cost-effective and quick, though the selection of supported wallets is less diverse compared to Ethereum-based DEXes.

Account opening process

To use dYdX, users connect their Ethereum-based wallets, such as MetaMask or Ledger. The platform requires a deposit of funds to enable trading features like margin and perpetual contracts. While the setup is straightforward and secure, new users might find the process complex due to Ethereum’s transaction fees and the need for initial deposits.
Orca on the Solana blockchain requires users to connect Solana-compatible wallets like Phantom to begin trading. The account setup is instantaneous, with no registration required, making it highly accessible. The platform’s simplicity and low transaction fees are appealing, though users must manage their wallet security.

KYC required?

Yes, KYC is mandatory for certain features and higher withdrawal limits.
No, KYC is not mandatory for using the platform.

Customer Service

dYdX provides support through its help center, which includes detailed documentation, FAQs, and troubleshooting guides. The platform also engages with its community via Discord and Twitter. While the available resources are thorough, the absence of direct customer service might be challenging for users needing quick, personalized assistance.
Orca, operating on the Solana blockchain, offers support through its official documentation, FAQs, and community channels like Discord and Twitter. While these resources are useful for troubleshooting, users who prefer direct support may find the lack of dedicated customer service challenging.

Security

dYdX emphasizes security through extensive smart contract audits, multi-signature wallets, and robust risk management tools. The platform also utilizes Layer 2 scaling solutions to provide secure and cost-effective transactions.
Orca operates on the Solana blockchain, known for its high security and low transaction costs. The platform has undergone security audits and emphasizes transparency and community trust.

Which of these exchanges is for you?

As an expert interacting frequently with various trading platforms, I find dYdX to be an exceptional choice for traders looking to delve into advanced trading options like derivatives and leverage within a secure, decentralized environment. The platform’s robust security measures and transparency make it a trustworthy option. However, I recommend it primarily for seasoned traders due to its complexity and focus on advanced financial instruments. Newcomers to cryptocurrency trading might find simpler platforms more suitable to start with.
As an expert on our website, I highly recommend Orca for users looking to dive into decentralized trading on the Solana blockchain. Its user-friendly interface, coupled with low transaction fees and robust security measures, makes it an excellent choice for both beginners and experienced traders. However, do bear in mind its limitation to Solana-based SPL tokens, which might restrict trading options compared to other multi-chain platforms.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong, any exchange can have problems.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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Comparison of dYdX vs Orca [ 2024 ]