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DN DECISION ENGINE

Which perpetual futures venues deserve your next round of research?

Filter a deliberately limited evidence set by location, custody, API requirement, monthly activity and execution style. This tool does not declare a universal winner. It removes known mismatches, surfaces unresolved access questions and keeps affiliate destinations out of the matching logic.

Evidence reviewed 2026-10-186 venues · research asset v1.3No live execution rankingInputs stay in this page's memory

WHAT MATTERS

A fit signal is not approval to trade.

DN hard-excludes only mismatches supported by the reviewed records, such as an explicit U.S. restriction, a custody-model mismatch or a missing API when API trading is required. Where country eligibility is not encoded confidently, the venue remains a research candidate with a visible verification warning.

  • Commercial relationships do not add score points.
  • Unknown eligibility never becomes an assumed approval.
  • Operational overrides in DN's platform policy suppress a venue from matching.

Describe the workflow

Location is a coarse research filter, not legal advice. Provider terms, account classification, citizenship, residence, sanctions, entity location and product-specific rules can override it.

RESEARCH SHORTLIST

6 current candidates

Ordered by workflow fit, not performance or commission.

Centralized exchangeFit points 76

Deribit

Centralized derivatives venue with perpetuals, options and documented JSON-RPC, WebSocket, HTTP and FIX connectivity.

Research fit: matches the selected activity band, supports the selected execution style.

No reviewed country exclusion in this tool applies to the selected location, but provider eligibility still controls.

Custody model
Exchange-held collateral
API
Documented trading API
API controls
Private API methods use scoped API keys; read-only access can be separated from trading permissions.
Access evidence
Deribit publishes a restricted-jurisdiction list. Retail derivatives access is not available in every country.
Evidence date
2026-10-18
Inspect primary sources
Official venueVisit partner (affiliate)
Hybrid derivatives exchangeFit points 76

GRVT

Hybrid derivatives venue with account-level API permissions, IP whitelisting and a published restricted-jurisdiction list.

Research fit: matches the selected activity band, supports the selected execution style.

No reviewed country exclusion in this tool applies to the selected location, but provider eligibility still controls.

Custody model
Exchange-held collateral
API
Documented trading API
API controls
Trading-account API keys support Trade and View permissions; IP whitelisting is available.
Access evidence
GRVT publishes restricted jurisdictions including the United States, Canada and several sanctioned or high-risk jurisdictions.
Evidence date
2026-10-18
Inspect primary sources
Official venueVisit partner (affiliate)
On-chain derivatives exchangeFit points 76

Paradex

On-chain derivatives venue with documented public and private APIs and explicit restricted-person rules.

Research fit: matches the selected activity band, supports the selected execution style.

No reviewed country exclusion in this tool applies to the selected location, but provider eligibility still controls.

Custody model
On-chain collateral
API
Documented trading API
API controls
Private API endpoints are account-scoped; use the narrowest credentials and limits supported by your workflow.
Access evidence
Paradex explicitly excludes U.S. and Canadian persons plus sanctioned persons and territories.
Evidence date
2026-10-18
Inspect primary sources
Official venueVisit partner (affiliate)
Centralized exchangeFit points 72

Binance

Centralized USDⓈ-M and COIN-M futures venue with documented REST and WebSocket derivatives APIs.

Research fit: matches the selected activity band, supports the selected execution style.

DN has not encoded a definitive country approval here; confirm current product eligibility before use.

Custody model
Exchange-held collateral
API
Documented trading API
API controls
API-key permissions and exchange-account controls; verify the minimum scopes required for your integration.
Access evidence
Country and product eligibility must be confirmed for the exact Binance entity and derivatives product before use.
Evidence date
2026-10-18
Inspect primary sources
Official venueVisit partner (affiliate)
On-chain perpetual protocolFit points 72

GMX

On-chain perpetual protocol with documented APIs, SDKs, contract integration and dynamic position, funding, borrowing and network costs.

Research fit: matches the selected activity band, supports the selected execution style.

DN has not encoded a definitive country approval here; confirm current product eligibility before use.

Custody model
On-chain collateral
API
Documented trading API
API controls
Integration can use public APIs, SDKs and contract calls; wallet permissions and transaction signing remain user-controlled.
Access evidence
Check the current GMX terms and front-end access rules for your location. Protocol access and front-end access are not equivalent.
Evidence date
2026-10-18
Inspect primary sources
Official venueVisit partner (affiliate)
On-chain order bookFit points 72

Hyperliquid

Fully on-chain perpetual order books on HyperCore with a documented trading API and agent-wallet model.

Research fit: matches the selected activity band, supports the selected execution style.

DN has not encoded a definitive country approval here; confirm current product eligibility before use.

Custody model
On-chain collateral
API
Documented trading API
API controls
API wallets can sign on behalf of a master account; use narrowly scoped operational wallets and separate account-data queries from signing keys.
Access evidence
Check the current terms and interface restrictions for your location before trading.
Evidence date
2026-10-18
Inspect primary sources
Official venue

EXECUTION-AWARE ECONOMICS

Model order size, holding time and execution assumptions separately from headline fees.

DN supplies the reviewed fee schedule. You supply the execution assumptions. That separation matters because a $10K order and a $1M order can face very different market impact even when the displayed maker/taker fee is identical.

Illustrative execution assumptions

Choose a scenario profile or enter your own values.

Profiles populate slippage, market impact and funding only. They do not represent measured performance for any venue and never change the fit ranking.

Scenario: Custom / incomplete until you enter all execution assumptions

DN does not auto-fill venue performance from historical research.

Base, Conservative and Stress are generic sensitivity templates, not venue observations. You can replace every value with your own live quote, order-book observation or benchmark assumption. For historical execution context, open the DN Crypto Execution Quality Index. Historical benchmark results are not live quotes and do not automatically populate this tool.

Fee schedules reviewed 2026-10-19. Executed notional = order notional × round trips × 2 sides. Funding assumes the entered per-8h rate applies to order notional for the average holding time. A negative funding input represents a net credit. Paradex retains separate Retail and Pro schedules; GMX remains a documented fee range.

DeribitFee evidence 2026-10-19

Monthly executed notional: $2,000,000.00 · 10 round trips · 24h average hold.

$500.00 fees

Documented explicit fee: $500.00 · blended published fee 0.0250%.

Execution assumptions incomplete. The fee figure below is documentation-based only; no all-in execution total is shown.

Standard perpetuals/futures tier. Higher VIP tiers can differ.

Inspect fee source
GRVTFee evidence 2026-10-19

Monthly executed notional: $2,000,000.00 · 10 round trips · 24h average hold.

$449.00 fees

Documented explicit fee: $449.00 · blended published fee 0.0224%.

Execution assumptions incomplete. The fee figure below is documentation-based only; no all-in execution total is shown.

Level 1 perpetuals baseline; maker value is a documented rebate. Higher volume tiers differ.

Inspect fee source
ParadexFee evidence 2026-10-19

Monthly executed notional: $2,000,000.00 · 10 round trips · 24h average hold.

Retail$0.000.0000% blended published fee only
Pro 0$480.000.0240% blended published fee only

Execution assumptions incomplete. The fee figure below is documentation-based only; no all-in execution total is shown.

Account classification matters. Retail and Pro fee schedules are shown separately.

Inspect fee source
BinanceFee evidence 2026-10-19

Monthly executed notional: $2,000,000.00 · 10 round trips · 24h average hold.

$700.00 fees

Documented explicit fee: $700.00 · blended published fee 0.0350%.

Execution assumptions incomplete. The fee figure below is documentation-based only; no all-in execution total is shown.

Regular-user USDT-M standard rate before optional BNB, VIP or promotional discounts.

Inspect fee source
GMXFee evidence 2026-10-19

Monthly executed notional: $2,000,000.00 · 10 round trips · 24h average hold.

$800.00–$1,200.00

Documented position-fee range only; execution assumptions are incomplete.

Execution assumptions incomplete. The fee figure below is documentation-based only; no all-in execution total is shown.

Most-market position fee range per increase/decrease, depending on whether the trade improves or worsens open-interest balance.

Inspect fee source
HyperliquidFee evidence 2026-10-19

Monthly executed notional: $2,000,000.00 · 10 round trips · 24h average hold.

$600.00 fees

Documented explicit fee: $600.00 · blended published fee 0.0300%.

Execution assumptions incomplete. The fee figure below is documentation-based only; no all-in execution total is shown.

Tier 0 base perps rate before staking, referral, maker-volume or HIP-3 adjustments.

Inspect fee source

This is scenario analysis, not a live execution benchmark. It excludes liquidation costs, order-book path dependency, partial fills, latency, spread changes, realized funding variation, account-specific promotions and fee-tier qualification costs unless you represent them in your own assumptions.

Open the DN Execution Quality IndexOpen the full fee & VIP calculatorRead the VIP break-even model

METHODOLOGY

Decision support, not a league table

The score measures alignment with the filters you selected. It does not measure return, liquidity, slippage, latency, solvency, regulatory quality or execution reliability. A higher score is not a recommendation to deposit funds.

Commercial destinations are maintained separately from the evidence records. A reviewed affiliate link may appear after a venue qualifies, but affiliate status never increases the fit score. Hyperliquid currently uses a neutral official destination.

The current engine intentionally covers six venues. DN will expand the set only when the required product, access, custody and API evidence can be represented without guessing.

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