Paradex DEX review
Live Paradex stats updated every minute: 24h volume, open interest, fees (0% maker / 0% taker), and up to 50x leverage across 63+ pairs on Starknet.
At a glance
- Measured cost rank
- Rank 2 of 39, 0.72 bps$10,000 BTC market buy, measured October 3, 2026, 12:55 UTC. Full ranking
- Fees, base tier
- 0% maker, 0% takerSource, read 2026-09-23
- Maximum leverage
- 50x on BTC and ETHSource, read 2026-09-23
- Chain and settlement
- Own appchain on the Starknet stack; proofs post to EthereumSource, read 2026-09-23
- Custody of funds
- Non-custodial per the terms; L1 bridge; no forced withdrawal describedSource, read 2026-09-23
- Funding interval
- Accrues all the time; quoted per 8 hoursSource, read 2026-09-23
- Audits named in official docs
- Cairo Security Clan (core contracts, May 2025), Zellic (StarkGate (upstream of the L1 bridge)), Trail of Bits (Starknet core contracts, 2022), HackerOne (API and web pentest)Source, read 2026-09-23
- Last reviewed
- 2026-09-23
Verdict
7.5/10 · how we rankRanked #31 of 84 DefiLlama-listed perp DEXes by 24h volume (0.21% share, 2026-10-03 snapshot). Taker fee 0% is below the DEX median of 0.04%.
Advantages
- Retail accounts pay 0% maker and 0% taker fees under the official fee schedule
- The official markets API listed 63 perp markets on September 23, 2026
- The audits page names four security firms and the scope of each review
- The funding page publishes a cap per 8-hour period for each market group
Considerations
- The docs do not describe a forced withdrawal path, and Paradex can limit withdrawals in a lockdown
- A January 2026 database fault caused wrong liquidations and a chain rollback
- PerpFinder has no reliable measured trading cost for Paradex yet
- Pro and API users pay a taker fee from 4.5 bps to 3.5 bps
Last editorial review 2026-09-23 · live protocol stats refresh every minute — rating is our editorial assessment, not an objective fact.
- Markets
- 63+ pairs
- Launch date
- 2023-08
Paradex — volume and open interest
Venue terms from the registry. Daily volume series since 2026-06-05; latest observed day 2026-10-03.
Paradex is a decentralized perpetual futures exchange on an appchain that uses the Starknet stack. Retail accounts pay 0% maker and taker fees. The official API listed 63 perp markets with up to 50x leverage. Airdrop & points program
Market share by 24h volume
- Hyperliquid Perps26.8%
- Variational17.5%
- Aster Perps10.8%
- Lighter Perps6.5%
- GMX Solana6.3%
- Other ranked venues32.2%
Share of reported 24h volume across the 84 ranked DefiLlama-listed perp DEXes in the 2026-10-03 snapshot. Browse DefiLlama-listed perp DEXes
PerpFinder may earn a commission from this link. You can lose all your money on perp trades. Details
Live figures
- Volume 24h
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- Volume 7d
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- Volume 30d
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- Volume 1y
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- Volume all-time
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- Fees 24h
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- Fees 7d
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- Fees 30d
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- Fees 1y
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- Fees all-time
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- Open interest
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Taker fee vs other perp DEXes
Show all 36 venues▾
Published base-tier rates from each venue's fee page. A negative maker fee is a rebate. Volume tiers, referral discounts and token holdings can lower what you pay.
Rating breakdown
Key features
Who can use Paradex perps
Each answer comes from the Paradex terms or help pages, or from a regulator register. Each source shows the date that we opened it. See all venues in the perps by country matrix.
- United StatesNot available
The restricted-persons page names the United States and its territories as restricted, and bars U.S. persons.
- United KingdomNot named
The terms name the United Kingdom only as a sanctions authority. The restricted-persons page does not list the United Kingdom as a restricted territory.
- EU and EEANot named
The terms name the European Union only as a sanctions authority. The restricted-persons page does not list the European Union or the EEA as a restricted territory.
- CanadaNot available
The restricted-persons page names Canada as a restricted territory and bars Canadian persons.
- AustraliaNot named
The restricted-persons page does not list Australia. No Paradex page states a service for Australia.
- SingaporeNot named
The terms name Singapore only as a sanctions authority. The restricted-persons page does not list Singapore as a restricted territory.
- NorwayNot named
The restricted-persons page does not list Norway. It does not list the European Union or the EEA as a restricted territory.
Identity check: Not stated. The Paradex documentation describes wallet-signature onboarding and does not mention an identity check. No Paradex page states whether the interface asks for identity verification.
This page is not legal advice. It repeats what each venue and regulator publish on the checked date. Read the current terms and ask a qualified adviser before you trade.
SourcesTerms, help pages and regulator registers
- United States: Paradex terms of service (checked 2026-09-23) · Paradex restricted-persons page (checked 2026-09-25)
- United Kingdom: Paradex terms of service (checked 2026-09-23) · Paradex restricted-persons page (checked 2026-09-25)
- EU and EEA: Paradex terms of service (checked 2026-09-23) · Paradex restricted-persons page (checked 2026-09-25)
- Canada: Paradex terms of service (checked 2026-09-23) · Paradex restricted-persons page (checked 2026-09-25)
- Australia: Paradex restricted-persons page (checked 2026-09-25)
- Singapore: Paradex terms of service (checked 2026-09-23) · Paradex restricted-persons page (checked 2026-09-25)
- Norway: Paradex restricted-persons page (checked 2026-09-25)
- Identity check: Paradex wallet-overview documentation (checked 2026-09-25)
Paradex review 2026
What Paradex is and how it settles
Paradex is a decentralized exchange (DEX) for perpetual futures contracts (perps). The chain introduction page calls Paradex a "Starknet-First Appchain." The same page describes a "Zero-knowledge proof roll-up chain" that is "Powered by the Starknet Stack." A zero-knowledge proof lets a chain prove that its state changes are correct.
The official documentation is on the Paradex docs site.
Audits
The audits and pentests page names four firms:
- Cairo Security Clan (May 2025): the Paraclear, Vault, Factory, Registry and Oracle contracts.
- Zellic (October 2023 and October 2024): StarkGate, the Starknet bridge.
- Trail of Bits (November 2022): the Starknet core contracts.
- HackerOne (March 2025): a penetration test of the API and the web app.
StarkWare ordered the Zellic and Trail of Bits reviews for its own code. Paradex lists them for its L1 bridge, which is a fork with minor changes. The 2023 Zellic report has a draft watermark. An audit examines one version of the code at one time. It does not remove smart contract risk.
Security incident
On January 19, 2026, a database upgrade during planned maintenance set the funding index to 0 on some markets. This fault caused wrong liquidations. Paradex stopped the exchange and rolled the chain back to the state before the maintenance. The post-mortem says that Paradex refunded $650,000 to 200 accounts from the Liquidator Vault.
Main risks
- Exit path: the docs do not describe a forced withdrawal path, and Paradex can limit withdrawals.
- Operator risk: Paradex rolled back the chain once, in January 2026.
- No measured cost: PerpFinder cannot show a reliable cost rank for Paradex yet.
- Fee changes: the fee page shows an effective date for the Pro maker fee, so rates can change.
- Smart contract risk: audits reduce this risk, but code errors can still occur.
- Leverage risk: at high leverage, a small price move can cause liquidation.
Fees
The fee page lists two account types. Retail accounts pay a 0% maker fee and a 0% taker fee. Pro and API users pay a maker fee of 0.3 basis points (bps), effective July 3. One bps is one hundredth of one percent.
Pro and API users pay a taker fee of 4.5 bps at the first tier and 3.5 bps at the top tier. Staking and fee-payment discounts can lower the Pro taker fee to a floor of 1.75 bps.
At the retail rate, a $10,000 market order has no trading fee. The spread, slippage and funding are separate costs. Use the fee calculator to test other order sizes.
Funding
The funding page says that funding accrues continuously. Paradex quotes the funding rate per 8-hour period by default. The cap per 8-hour period is 2% for BTC, ETH and SOL. The cap is 0.5% for traditional finance (TradFi) markets and 5% for other markets. You can compare current rates on the funding rates tracker.
Measured trading cost
PerpFinder stored cost sweeps on September 22 and 23, 2026. These sweeps do not give a reliable measured cost for Paradex, so this review shows no cost rank. You can compare the measured venues on the cheapest perp exchange page.
Custody and exit path
The terms of service say that "the Services are purely non-custodial." A deposit moves through the Paradex bridge contract on Ethereum. This bridge is a fork of StarkGate, the Starknet bridge.
The Ethereum withdrawal page says that the L1 verifier contract must confirm a proof before it unlocks funds. Thus, a withdrawal to Ethereum can take some hours.
The security lockdown page lets Paradex block L1 deposits and limit L1 and L2 withdrawals. The docs do not describe a forced withdrawal path for an operator outage. The docs also do not say who controls contract upgrades or the sequencer.
The terms warn that withdrawals can be late when the Paradex or StarkWare servers are offline.
Who it may fit
Paradex can fit a retail trader who wants 0% trading fees and a choice of 63 perp markets. A trader who sends API orders pays the Pro fee ladder and must compare it with other venues.
A trader who needs a forced withdrawal path must confirm the exit terms first. Compare Paradex with other venues on the compare page or the perps list.
Leverage and markets
The official markets API listed 63 perp markets on September 23, 2026. BTC-USD-PERP and ETH-USD-PERP had a base initial margin fraction of 0.02. That value gives a maximum leverage of 50x.
No perp market in that data had a lower base initial margin fraction. Other markets can have lower limits, so check the limit for each market.
Frequently asked questions
What is the maximum leverage on Paradex?
The official markets API showed a base initial margin fraction of 0.02 for BTC-USD-PERP and ETH-USD-PERP on September 23, 2026.
That value gives a maximum of 50x. No perp market in that data allowed more.
What are the trading fees on Paradex?
The Paradex fee page lists 0% maker and 0% taker fees for retail accounts.
Pro and API users pay a 0.3 bps maker fee and a taker fee from 4.5 bps to 3.5 bps. Staking and fee-payment discounts can lower the Pro taker fee to a floor of 1.75 bps.
How many perp markets does Paradex list?
The official markets API listed 63 perpetual futures markets on September 23, 2026.
Where does Paradex settle trades?
The Paradex documentation calls Paradex a Starknet-first appchain.
It describes a zero-knowledge proof roll-up chain that uses the Starknet stack.
Has Paradex been audited?
The Paradex audits page names four firms.
Cairo Security Clan reviewed the Paraclear, Vault, Factory, Registry and Oracle contracts in May 2025. StarkWare ordered the Zellic and Trail of Bits reviews of StarkGate and the Starknet core contracts, and Paradex lists them for its bridge fork. HackerOne did a penetration test of the API and the web app in March 2025.
How does funding work on Paradex?
Funding accrues continuously, and Paradex quotes the rate per 8-hour period by default.
The cap per 8-hour period is 2% for BTC, ETH and SOL. The cap is 0.5% for TradFi markets and 5% for other markets.
Who holds trader funds on Paradex?
The Paradex terms say that the service is non-custodial.
Deposits move through the Paradex bridge contract on Ethereum, and withdrawals unlock after the L1 contract verifies a proof. The docs do not describe a forced withdrawal path, and Paradex can limit withdrawals in a security lockdown.
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