Is perps trading on DeFi protocols worth it? CEXs vs DEXs.

Personally, I’ve only traded for short-term profits on CEXs. When it comes to swapping, then I’m comfortable doing it on a DEX more than on a CEX – just because I don’t hold tokens on CEXs, but on my own wallet. One less extra step and more secure with self-custody.

When it comes to perps trading, that’s another completely different story. Trades get through faster and the whole UI /UX gives me more peace of mind. With that said, protocols such as Decentralized Perpetuals Exchanges on large chains such as Ethereum, Polygon or Arbitrum have become very popular lately.

That made me open my mind and try some of these Perpetuals Exchanges. The reason I used decentralised perps DEXs instead of centralised perps trading is because it’s just easier with the UI/UX and much faster (plus generally cheaper with borrowing fees).

Here are some of the most worthy ones by chain, in my opinion. It’s a personal and non-exhaustive list, so feel free to add more in the comments!

– Ethereum: dYdX
– Arbitrum: GMX
– Polygon: QuickPerps Falkor
– Solana: Jupiter
– Optimism: Aevo
– Base: Synthetix
– Kava: Kinetix

Most of my activity occurs on Polygon as that’s what I got comfortable with. We’ve all got our chains that we use more than others. That’s where I stay but other chains/perpetuals listed above have a lot going for them and perfectly mimic the CEX trading experience.

I’ve tried a bunch of Decentralized Perpetuals Exchanges and the ones listed above have met my requirements of UI/UX the best. As mentioned before, I might have missed some of the better ones out there. That’s why I want to hear from you in the comments below.