# Perpd > Perpd is an independent scorecard that ranks perp DEXs by the risks that cost traders money: exits, liquidations, access and real fills. Re-scored monthly; scores are never for sale. Last updated: 14 Nov 2026. Every page lists its sources and the date each fact was checked. Method: https://perpd.pages.dev/how-we-rank/ ## Start here - [Perp DEX risk scorecard: 10 DEXs ranked by risk (Nov 2026)](https://perpd.pages.dev/): 10 perp DEXs scored on exit risk, security, liquidations, access, token and fees. Every score sourced. Updated 14 Nov 2026. - [Perp DEX fees compared: what a $100K trade really costs (Nov 2026)](https://perpd.pages.dev/perp-dex-fees-compared/): Taker and maker fees for 10 perp DEXs, plus measured slippage on $100K orders. Fees, not slippage, decide most of your cost. - [How Perpd scores perp DEXs](https://perpd.pages.dev/how-we-rank/): The Real Risk Score: what we score, how, where the data comes from, and what money can and can't buy here. - [Which perp DEXs block the US, UK, India and Canada? (Nov 2026)](https://perpd.pages.dev/perp-dex-access-by-country/): Restricted countries, KYC and legal entity for 10 perp DEXs, taken from each terms page, plus India's FIU-IND and crypto tax rules. Nov 2026. - [Which perp DEXs have points programs right now? (Nov 2026)](https://perpd.pages.dev/perp-dex-points-programs/): Perp DEX points programs on 14 Nov 2026: which are live or ended, token status, how points are earned and the known controversies, all sourced. - [Real Risk Score rubric: how each factor is scored](https://perpd.pages.dev/rubric/): The exact rules behind every Perpd factor score: bands, deductions, time windows and data sources. Version 0.2, 14 Nov 2026. - [Changelog](https://perpd.pages.dev/changelog/): Every Perpd score change with the date and the reason. ## Rankings - [Best perp DEXs in 2026, ranked by risk (Nov 2026)](https://perpd.pages.dev/best-perp-dex/): 10 perp DEXs ranked by the risks that cost traders money: exits, liquidations, access, token and fees. Every score sourced. Nov 2026. - [Best Hyperliquid alternatives, ranked by risk (Nov 2026)](https://perpd.pages.dev/hyperliquid-alternatives/): 9 Hyperliquid alternatives ranked by risk score, from Jupiter Perps to Aster: what each is, why traders pick it and its main red flag. - [Best Hyperliquid trading terminals and front-ends (Nov 2026)](https://perpd.pages.dev/hyperliquid-trading-terminals/): Hyperliquid front-ends compared: Based, Dexari, pvp.trade, Insilico and Liquid. Fees on top, who holds your keys, platforms and builder codes. - [Best perp DEXs on Solana, ranked by risk (Nov 2026)](https://perpd.pages.dev/best-perp-dex-solana/): Solana perp DEXs ranked by Perpd risk scores, plus where Velocity (formerly Drift), Phoenix, Bulk, Adrena and Flash Trade stand now. - [Which perp DEX is best for beginners? (Nov 2026)](https://perpd.pages.dev/perp-dex-for-beginners/): A plain guide for first-time perp traders: what a perp is, what to check, 3 venues with fewer red flags on our scores, and the usual mistakes. ## Head to head - [Hyperliquid vs Aster: risk, fees and exit compared (Nov 2026)](https://perpd.pages.dev/hyperliquid-vs-aster/): Hyperliquid vs Aster side by side: bridges and exit, fees, markets, volume, incidents, wash-trading flags, tokens and legal status. - [Hyperliquid vs Lighter: risk, fees and exit compared (Nov 2026)](https://perpd.pages.dev/hyperliquid-vs-lighter/): Hyperliquid vs Lighter side by side: custody and exit, fees, markets, volume, incidents, HYPE and LIT unlocks and who can use each. ## Data - [Perp DEX fees compared: what a $100K trade really costs (Nov 2026)](https://perpd.pages.dev/perp-dex-fees-compared/): Taker and maker fees for 10 perp DEXs, plus measured slippage on $100K orders. Fees, not slippage, decide most of your cost. - [Which perp DEXs block the US, UK, India and Canada? (Nov 2026)](https://perpd.pages.dev/perp-dex-access-by-country/): Restricted countries, KYC and legal entity for 10 perp DEXs, taken from each terms page, plus India's FIU-IND and crypto tax rules. Nov 2026. - [Which perp DEXs have points programs right now? (Nov 2026)](https://perpd.pages.dev/perp-dex-points-programs/): Perp DEX points programs on 14 Nov 2026: which are live or ended, token status, how points are earned and the known controversies, all sourced. ## Guides and explainers - [After the $6.3B Binance hack: are perp DEXs safer? (Nov 2026)](https://perpd.pages.dev/binance-hack-perp-dex-exit-risk/): What the 29 Oct 2026 Binance hack changes for perp traders, and how 10 perp DEXs compare on getting your money out. - [Is Hyperliquid safe? What can go wrong (Nov 2026)](https://perpd.pages.dev/is-hyperliquid-safe/): What can go wrong on Hyperliquid: its validator-run bridge, 5 incidents since March 2025, HLP and ADL losses, HYPE unlocks and who is barred. - [Lighter's LIT unlock in late December 2026: what unlocks and what to watch](https://perpd.pages.dev/lighter-lit-unlock-december-2026/): 500M LIT held by Lighter's team and investors comes off a 1-year lock in late Dec 2026. The schedule, the burn and what to watch. - [The Paradex rollback: what happened in Jan 2026 and what it means for exit risk](https://perpd.pages.dev/paradex-rollback-explained/): How a database bug sent Paradex's BTC perp to $0 on 19 Jan 2026, why Paradex could roll back its chain, and what it means for getting funds out. - [What is auto-deleveraging (ADL)? Real cases from 2025-26](https://perpd.pages.dev/adl-explained/): How auto-deleveraging works, where backstop vaults like HLP, JLP and GM fit in, and verified ADL cases on perp DEXs from 2025-26. - [Where to trade stock perps onchain (Nov 2026)](https://perpd.pages.dev/stock-perps-onchain/): Which onchain venues list stock perps in Nov 2026, how each prices them after hours and at weekends, max leverage, and the SK Hynix flash crash. ## Risk profiles - [Aster risk score: 52/100 (Nov 2026)](https://perpd.pages.dev/aster-risk-score/): Aster scores 52/100 on Perpd's Real Risk Score. Every factor, reason and source. Updated 14 Nov 2026. - [Extended risk score: 72/100 (Nov 2026)](https://perpd.pages.dev/extended-risk-score/): Extended scores 72/100 on Perpd's Real Risk Score. Every factor, reason and source. Updated 14 Nov 2026. - [GMX risk score: 69/100 (Nov 2026)](https://perpd.pages.dev/gmx-risk-score/): GMX scores 69/100 on Perpd's Real Risk Score. Every factor, reason and source. Updated 14 Nov 2026. - [Hyperliquid risk score: 72/100 (Nov 2026)](https://perpd.pages.dev/hyperliquid-risk-score/): Hyperliquid scores 72/100 on Perpd's Real Risk Score. Every factor, reason and source. Updated 14 Nov 2026. - [Jupiter Perps risk score: 83/100 (Nov 2026)](https://perpd.pages.dev/jupiter-perps-risk-score/): Jupiter Perps scores 83/100 on Perpd's Real Risk Score. Every factor, reason and source. Updated 14 Nov 2026. - [Lighter risk score: 75/100 (Nov 2026)](https://perpd.pages.dev/lighter-risk-score/): Lighter scores 75/100 on Perpd's Real Risk Score. Every factor, reason and source. Updated 14 Nov 2026. - [Pacifica risk score: 53/100 (Nov 2026)](https://perpd.pages.dev/pacifica-risk-score/): Pacifica scores 53/100 on Perpd's Real Risk Score. Every factor, reason and source. Updated 14 Nov 2026. - [Paradex risk score: 63/100 (Nov 2026)](https://perpd.pages.dev/paradex-risk-score/): Paradex scores 63/100 on Perpd's Real Risk Score. Every factor, reason and source. Updated 14 Nov 2026. - [Variational risk score: 81/100 (Nov 2026)](https://perpd.pages.dev/variational-risk-score/): Variational scores 81/100 on Perpd's Real Risk Score. Every factor, reason and source. Updated 14 Nov 2026. - [edgeX risk score: 72/100 (Nov 2026)](https://perpd.pages.dev/edgex-risk-score/): edgeX scores 72/100 on Perpd's Real Risk Score. Every factor, reason and source. Updated 14 Nov 2026.