Comparison of dYdX vs Raydium [ 2024 ]

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

Your expert: Alejandro Borja

dYdX

dYdX

Your expert: Xavier Tarrasó

raydium

Raydium

Main points

Fees

0,10%/0,05%
NFTs
Yes

Native token

Token DYDX
0,25%

Fees

No
NFTs
Token RAY
Native token

Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

No
No

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.
4.5 – Low fees on the Solana blockchain, with dual yield farming options enhancing overall value.

Level

0,10%/0,05%
0,25%

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​​.
Raydium employs a straightforward fee structure, making it transparent for users. For each transaction executed in its liquidity pools, Raydium charges a 0.25% fee, which is split between liquidity providers and RAY token stakers. Specifically, 88% of this fee is redirected to the liquidity pool as a reward for liquidity providers, while the remaining 12% is used to buy RAY tokens and distribute them to stakers. Additionally, trades executed via the Serum DEX incur an average transaction fee of 0.22%, which can decrease based on the number of SRM tokens staked. Besides these fees, users also need to consider network fees for transactions on the Solana blockchain, which are typically very low, ranging from 0.0001 to 0.001 SOL per transaction.

dYdX

Raydium

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Product selection

Native token

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

Earns

Yes, dYdX offers EARN opportunities mainly through staking DYDX tokens for staking rewards and liquidity provider incentives.
Yes, Raydium provides EARN opportunities through liquidity mining, staking RAY tokens, and dual yield farming programs.

NFT marketplace

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

Cripto/debit card

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

Company information

Full name

dYdX Trading Inc.
Raydium Protocol

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, Raydium is not regulated by any specific financial regulatory authority.

Year founded

2017
2021

Founder

Antonio Juliano
AlphaRay and XRay

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, Raydium 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, Raydium 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, Raydium does not support direct deposits via credit card. It only allows transactions through wallet connections.

Comparative table

dYdX FEATURES Raydium
dYdX allows relatively low minimum trades, suitable for both small and large investors, though not the lowest in the market.
Minimum Trade
Raydium allows relatively low minimum trades, accommodating users who wish to start with small amounts.
dYdX offers highly competitive fee structures, especially on Layer 2, minimizing costs significantly for traders.
Trading and Transaction Fees
Raydium offers extremely competitive fees, with low trading costs thanks to the efficiency of the Solana network.
The selection of cryptocurrencies is somewhat limited, focusing primarily on major assets which restricts diversity in trading.
Number of Cryptocurrencies
While Raydium supports a variety of SPL tokens, its selection is less diverse compared to larger exchanges.
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
It provides a good range of trading pairs, focusing on quality and liquidity, especially within the Solana ecosystem.
The platform excels in transparency, with open access to smart contracts and clear, public documentation of its operational protocols.
Website Transparency
The website offers clear information about trading processes and fees, though could improve on team transparency.
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
Limited to the Solana network, which, while fast and cheap, restricts users looking for multi-chain trading 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 DEX, Raydium does not offer custodial storage, relying on users to manage their wallets securely.
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
Offers robust staking options and rewards, making it an attractive platform for users looking to earn through DeFi activities.
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
Raydium’s website is user-friendly and well-designed, making navigation and trading simple and efficient for all user levels.
Customer service is adequate with support channels available, but feedback suggests there could be improvements in response times and support reach.
Customer Service
Limited customer support options with no live chat or 24/7 service, which can be a downside for users needing immediate help.
Deposits and withdrawals are efficiently handled via smart contracts, although options are limited to cryptocurrencies with no fiat support.
Deposit and Withdraw
Deposits and withdrawals are handled through users’ wallets with no intermediaries, enhancing security but requiring user diligence in transactions.

Key features

Analysis tools

Advanced trading charts, order book depth, margin and leverage calculators, risk management tools, and historical trade data.
Trading charts, order book, liquidity pool analytics, and price impact indicators.

Mobile APP

Yes, dYdX has a mobile app available for both iOS and Android.
No, Raydium 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.
Raydium benefits from the high security standards of the Solana blockchain. It has implemented multiple audits and employs advanced security practices to safeguard user assets and transactions.

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.
Raydium offers AcceleRaytor for launching new projects, dual yield farming, integration with the Serum DEX for advanced trading, and staking opportunities for RAY tokens with additional rewards.

Anonymity

No, dYdX typically requires identity verification, especially for advanced trading features and higher withdrawal limits, due to regulatory compliance.
Yes, Raydium allows for anonymous account usage through wallet connections on the Solana blockchain.

Key points

Available cryptocurrencies

Ethereum (ETH), Bitcoin (BTC), dYdX (DYDX), Tether (USDT), USD Coin (USDC), and other popular ERC-20 tokens.
Solana (SOL), Raydium (RAY), Ethereum (ETH), Bitcoin (BTC), USD Coin (USDC), and multiple 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.
Raydium provides a seamless user experience with its integration into the Solana ecosystem, offering fast and low-cost transactions. The platform is relatively easy to use, but new users might need some time to get accustomed to the Solana-based operations and features.

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.
Raydium is cost-effective due to its integration with the Solana ecosystem, offering low transaction fees and high-speed trades. Its dual liquidity provision (AMM and Serum DEX order book) maximizes value for users seeking efficiency and low costs.

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.
Ideal for both new and experienced traders who value fast and low-cost transactions on the Solana network. Its integration with the Serum DEX provides advanced trading capabilities, making it a good fit for those looking for both simplicity and depth.

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.
Raydium operates on the Solana blockchain, providing high-speed and low-cost transactions. It integrates with Serum, offering deep liquidity pools. Raydium is excellent for traders looking for fast transactions but still lacks the extensive token support found on Ethereum-based 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.
Raydium utilizes the Solana blockchain, offering fast and low-cost deposits and withdrawals. Users can connect Solana-compatible wallets, such as Phantom or Sollet, to trade. The efficient transaction process is appealing, but users must handle wallet management and security themselves.

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.
Raydium utilizes Solana-compatible wallets like Phantom for users to start trading. The process involves connecting the wallet to the platform without any formal registration, ensuring user privacy and ease of access. This approach is efficient but requires users to be diligent about wallet management and 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.
Raydium offers customer support through community forums, social media, and its help center, which includes comprehensive documentation and FAQs. The community-driven support is robust, but users who prefer direct customer service may find this approach lacking in immediacy and personalization.

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.
Raydium benefits from the high security standards of the Solana blockchain. It has implemented multiple audits and employs advanced security practices to safeguard user assets and transactions.

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 closely following the developments in decentralized exchanges, I highly recommend giving Raydium a try, especially for those intrigued by the DeFi space and looking for low transaction fees and fast trades. The platform’s unique integration with Serum DEX and its operations on the Solana blockchain offer a seamless trading experience. However, keep in mind the importance of staying informed about the blockchain’s performance and diversifying your DeFi activities to manage risks effectively. Happy trading!

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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 Raydium [ 2024 ]