Compare Every DEX Instantly

A DEX is a cryptocurrency exchange that operates without a central authority. Unlike centralized exchanges like Coinbase or Binance, DEXs let you trade directly from your wallet using smart contracts. Popular DEXs include Uniswap, PancakeSwap, and Curve. You maintain full custody of your funds at all times, eliminating counterparty risk.

DEX fees typically range from 0.01% to 0.30% of your trade value. For example, Uniswap charges 0.30%, while Curve charges just 0.04% for stablecoins. Additionally, you pay blockchain gas fees which vary by network—Ethereum can cost $5-50 per transaction, while Solana costs less than $0.01. Always consider both the swap fee and gas cost when comparing DEXs.

TVL represents the total amount of cryptocurrency deposited in a DEX's liquidity pools. Higher TVL generally indicates better liquidity, lower slippage on trades, and greater trust in the platform. Uniswap's TVL exceeds $5 billion, making it the largest DEX by this metric. TVL is one of the most important factors when evaluating a DEX's reliability.

AMMs (Automated Market Makers) like Uniswap use liquidity pools and mathematical formulas to determine prices automatically. Order Book DEXs like dYdX match buyers with sellers directly, similar to traditional stock exchanges. AMMs are simpler to use and always have liquidity, but may have more slippage. Order books offer precise pricing and are preferred by professional traders.

Consider these factors: 1) Which blockchain your tokens are on, 2) The specific tokens you want to swap, 3) Your trade size (larger trades need more liquidity), 4) Fee sensitivity, and 5) Features you need like limit orders or leverage. Use our comparison tool to filter DEXs by chain, type, and features to find the best match for your trading needs.

Slippage is the difference between the expected price and the actual execution price of your trade. On DEXs, larger trades cause more slippage because they impact the liquidity pool's token ratio. You can set a slippage tolerance (usually 0.5-1%) to protect against unfavorable price movements. Low-liquidity tokens may require higher slippage tolerance.

DEXs eliminate counterparty risk since you control your funds throughout the trade. However, smart contract vulnerabilities can pose risks. Look for DEXs with multiple security audits from reputable firms, long track records without incidents, and significant TVL. Always verify you're on the official website and double-check contract addresses before approving transactions.

Impermanent loss affects liquidity providers when the price ratio of deposited tokens changes after depositing. If prices diverge significantly, you would have been better off just holding the tokens. The loss is 'impermanent' because it reverses if prices return to the original ratio. Stablecoin pools and concentrated liquidity positions can help minimize impermanent loss.

Yes, most DEXs have mobile-responsive websites that work well on smartphones. You can connect mobile wallets like MetaMask Mobile, Trust Wallet, Rainbow, or Phantom (for Solana). Some DEXs also offer dedicated mobile apps. Always verify you're on the official website before connecting your wallet—bookmark trusted URLs to avoid phishing sites.

DEX aggregators like 1inch and Jupiter search across multiple DEXs simultaneously to find the best swap rate for your trade. They may split your order across several platforms to minimize slippage and optimize pricing. Using an aggregator often saves money compared to trading on a single DEX, especially for larger trades or less liquid token pairs.