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Cryptocurrency & Blockchain · head to head

dYdX vs Lido

dYdX logo

dYdX

Cryptocurrency & Blockchain

Decentralized perpetual trading

From
Free
Rated
-
Full reviewWebsite
Lido logo

Lido

Cryptocurrency & Blockchain

Liquid staking for Ethereum and beyond

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: dYdX newer platform with smaller liquidity pools compared to centralized exchanges; Lido lido takes a 10% fee on staking rewards, split between node operators and the DAO Treasury
  • They diverge on capability: dYdX covers Perpetual Contracts, Lido covers Liquid Staking.

Where they differ

Only the attributes on which dYdX and Lido actually diverge.

Attributes where dYdX and Lido differ
AttributedYdXLido
Founded20172020

Identical on both: starting price (Free), pricing model (free), free tier (Yes), platforms (Web), user rating (Not yet rated), category (Cryptocurrency & Blockchain).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in dYdX

  • Perpetual Contracts
  • Cross Margin
  • Portfolio Margin
  • Governance
  • DYDX Token
  • Cosmos SDK

Only in Lido

  • Liquid Staking
  • stETH Token
  • No Minimum
  • DeFi Composable
  • LDO Token
  • Multi-chain

Both cover

  • Web support

What people use each for

The jobs each tool is most often brought in to do.

dYdX

  • Definot Lido
  • Dexnot Lido
  • Derivativesnot Lido

Lido

  • Liquid staking of ETH and other proof of stake tokensnot dYdX

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

dYdX

  • Newer platform with smaller liquidity pools compared to centralized exchanges
  • Requires cryptocurrency wallet for trading, adding friction for new users
  • Limited fiat on/off ramps compared to centralized alternatives like Coinbase

Lido

  • Lido takes a 10% fee on staking rewards, split between node operators and the DAO Treasury

Pricing, plan by plan

dYdX

Free
  • FreeFree
    • Perpetual trading
    • Governance
    • Staking

Lido

Free
  • FreeFree
    • Liquid staking
    • stETH token
    • DeFi integration

Which should you pick?

Choose dYdX if

  • You need perpetual contracts.
  • You want to start without paying.
  • You also want cross margin.
dYdX review

Choose Lido if

  • You need liquid staking.
  • You want to start without paying.
  • You also want steth token.
Lido review

Questions people ask

Is dYdX or Lido better?
Neither clearly leads. dYdX starts at Free and Lido at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, dYdX or Lido?
dYdX starts at Free and Lido at Free.
Does dYdX or Lido run on more platforms?
Both run on Web, so platform support will not decide this one for you.
Can I use dYdX for free?
Both have a free tier, so you can try either at no cost before committing.
What is dYdX best used for?
dYdX is most often used for defi, dex, derivatives. Of those, defi and dex are not what Lido is typically brought in for.
What can dYdX do that Lido cannot?
dYdX covers Perpetual Contracts, Cross Margin, Portfolio Margin, Governance. Lido covers Liquid Staking, stETH Token, No Minimum, DeFi Composable. Both handle Web support.

Answered from the vendors’ own pages

dYdX: What type of trading does dYdX specialize in?

dYdX is a decentralized platform for perpetuals and margin trading, allowing professional traders to trade crypto derivatives without expiry dates. Built on ZK-rollup technology, it enables trading 143+ cryptocurrencies with leverage up to 50x on selected contracts.

Source
dYdX: How does dYdX maintain decentralization?

dYdX governance is fully community-driven, meaning token holders decide on protocol upgrades, fee structures, and risk parameters. The platform distributes 100% of its trading fees to stakers.

Source
dYdX: What are dYdX's gas fee advantages?

Built on StarkWare's ZK-rollup technology, dYdX enables trading with near-zero gas fees while users maintain full custody of their assets.

Source
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Related pages

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