Which perp DEXs block the US, UK, India and Canada?
Short answer: Every DEX here whose terms we could read bars US residents. Lighter and Aster also bar the UK and Canada; edgeX and Variational bar Canada; Hyperliquid bars Ontario. None of the terms we could read names India or the EU, though sanctions clauses and open-ended wording still apply. We couldn't confirm the lists for Paradex or Extended, and GMX's US bar comes from a perpfinder summary of its terms. Using a DEX from a country its terms block breaks those terms.
How to read the table: "Blocked" means the terms name that country. "Not listed" means they don't, which isn't the same as permission, because sanctions clauses and "not limited to" wording can still apply. "Not confirmed" means we couldn't load that part of the terms.
| DEX | US | UK | Canada | India | EU | KYC | Legal entity (law or seat) | Terms checked |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid | Blocked | Not listed | Ontario blocked | Not listed | Not listed | None | Hyperliquid Corp. (not stated) | Datawallet summary, 2 Oct 2026 |
| Lighter | Blocked | Blocked | Blocked | Not listed | Not listed | None stated | Elliot Technologies, Inc. (Florida law) | Terms, 29 Dec 2025 |
| Aster | Blocked | Blocked | Blocked | Not listed | Not listed | Not mentioned | None named | Blockworks filing, H2 2026 |
| Variational | Blocked | Not listed | Blocked | Not listed | Not listed | Source-of-funds checks at its discretion | MCMC Research Corporation, S.A. (arbitration in Panama) | Terms; restricted list, 20 Apr 2026 |
| edgeX | Blocked | Not listed | Blocked | Not listed | Not listed | None stated | edgeX Trading Inc. (California law) | Terms, undated |
| Pacifica | Blocked | Not listed | Not listed | Not listed | Not listed | None stated | None found | Docs, undated |
| Extended | Not confirmed | Not confirmed | Not confirmed | Not confirmed | Not confirmed | Not confirmed | X10 Ltd for perps, per its docs | Terms, 30 Oct 2026 |
| Paradex | Not confirmed | Not confirmed | Not confirmed | Not confirmed | Not confirmed | Not confirmed | Parad0x Technology LMT (not stated) | Terms, 8 Nov 2024 |
| GMX | Blocked | Not listed | Not listed | Not confirmed | Not listed | Not confirmed | Not confirmed | perpfinder summary of GMX terms, checked 23 Sep 2026 |
| Jupiter Perps | Blocked | Not listed | Not listed | Not listed | Not listed | At Jupiter's discretion | Block Raccoon S.A. (Panama law) | Terms, undated |
Table notes:
- Hyperliquid's own terms page (app.hyperliquid.xyz/terms) loads as an app our tools couldn't read, so this row relies on Datawallet's summary of terms it dates to 15 Jun 2026.
- GMX's terms page (gmx.io/terms-and-conditions) didn't render the legal text for our tools, so this row relies on perpfinder's summary, checked 23 Sep 2026. It says the terms require that users not be US persons and name the UK and EU only as sanctions authorities (perpfinder).
- We couldn't open Aster's terms page directly. This row uses the restricted list quoted from Aster's terms in its transparency filing on Blockworks.
What do each DEX's terms say?
- Hyperliquid. Bars US persons and Ontario, with no KYC for eligible traders (Datawallet). Watch out for: we couldn't read the primary terms, so check them in the app.
- Lighter. Terms governed by Florida law, with JAMS arbitration in Miami; the company may log IP addresses to enforce its restrictions (Lighter). Watch out for: the preamble also lists Sudan, Belarus and Myanmar, which section 1(b) leaves out.
- Aster. No operating company is named. The Seychelles FSA said Aster has "no nexus to Seychelles" and no authorization under the Seychelles Virtual Asset Service Providers Act, 2024 (Blockworks). Watch out for: no named company stands behind the terms.
- Variational. Bars US and Canadian persons, Taiwan and US territories; the UK and EU appear only as sanctions authorities (Variational). Disputes go to arbitration in Panama, and the company can run source-of-funds checks (Variational terms). Watch out for: access can be suspended if those checks can't be completed.
- edgeX. Bars the US and Canada, under California law with JAMS arbitration in San Francisco (edgeX). Watch out for: the terms carry no date and still describe a wind-down for Canadian users from 7 Apr 2023.
- Pacifica. Its list of barred places is "not limited to" the US, Cuba, Crimea (including Sevastopol), Iran, Afghanistan, Syria and North Korea, and trading from restricted IPs is blocked (Pacifica). Watch out for: the open-ended list, and no named entity or terms page in its docs.
- Extended. Terms updated 30 Oct 2026 (Extended). Its docs name X10 Ltd as the perps provider and say restrictions follow each service's terms (Extended docs, checked 9 Nov 2026). Watch out for: we couldn't load the restricted list, so check it before you deposit.
- Paradex. The agreement is with Parad0x Technology LMT, last modified 8 Nov 2024 (Paradex). Watch out for: the terms predate its 19 Jan 2026 chain rollback (The Block); see The Paradex rollback: what happened in Jan 2026 and what it means for exit risk.
- GMX. perpfinder reports that GMX's terms require users not to be US persons, and that they name the UK and EU only as sanctions authorities (perpfinder, checked 23 Sep 2026). Watch out for: we couldn't read the terms ourselves, so check them in the interface before you trade.
- Jupiter Perps. Block Raccoon S.A., Panama law, LCIA arbitration in London; bars the US, Singapore and 17 other named countries and regions, plus sanctioned regions (Jupiter). The list names "the Republic of China", not "China" or "the People's Republic of China", so it's unclear whether it means Taiwan or mainland China. Watch out for: Jupiter can run KYC and AML checks "if deemed necessary by us" and refuse access until you provide the information.
Can you use a perp DEX from a blocked country?
Not within its terms. Using a DEX from a jurisdiction its terms restrict breaks those terms. edgeX, Jupiter and Variational explicitly ban using a VPN or similar tools to get around restrictions (edgeX; Jupiter; Variational), Datawallet reports that Hyperliquid's terms do too (Datawallet), and Lighter may log IP addresses to enforce its blocks (Lighter).
"Not listed" isn't a green light either. Check whether perps are legal where you live.
What are India's rules for crypto users?
These are India's rules as of 14 Nov 2026.
FIU-IND registration
- Since March 2023, India's anti-money-laundering law (the PMLA) has required virtual digital asset (VDA) service providers operating in India, offshore or onshore, to register with the Financial Intelligence Unit, FIU-IND (The Block).
- India's Finance Ministry says offshore providers operating in India must register as reporting entities and meet the PMLA's reporting and record-keeping duties, and that "the obligation is activity-based and is not contingent on physical presence in India" (PIB, 28 Dec 2023).
- On 9 Sep 2026, FIU-IND issued notices to 15 crypto platforms, including WhiteBIT, XT.com and Pionex, and sought takedowns of their apps and URLs (same source). None of the 10 DEXs we score was on the list.
- Registering has let some exchanges back in: Binance returned in 2024 after a $2.25M penalty, and Bybit restored access after completing FIU registration (same source).
- FIU-IND also said crypto products "remain unregulated in India" and warned of "no regulatory recourse for losses" (same source).
We found no FIU-IND statement on whether a non-custodial DEX front end counts as a VDA service provider.
Tax: 30% on gains and 1% TDS
- Profits from transferring VDAs are taxed at a flat 30% plus 4% cess (KoinX). This was Section 115BBH of the Income-tax Act, 1961. Since 1 Apr 2026 the 30% rate sits in Section 194 of the Income-tax Act, 2025, which allows no deduction except cost of acquisition and bars setting off or carrying forward VDA losses (Income Tax Department).
- Section 194S of the 1961 Act added 1% TDS on VDA transfers once the consideration crosses ₹50,000 in a financial year for "specified persons", or ₹10,000 for everyone else. The framework dates from the 2022 budget (CoinSwitch). Under the 2025 Act the same TDS rule is in Section 393(1), with the rate and thresholds unchanged, according to TDSMan (TDSMan). We didn't find an Income Tax Department page confirming that section number.
- Perps are unclear. CoinSwitch says the CBDT "has not issued definitive guidance specifically for crypto F&O" (same source). KoinX describes traders filing under 2 systems: a USDT-settled perp arguably involves a VDA transfer, so the conservative view applies the 30% rule, while some treat INR-settled futures as business income at slab rates (KoinX).
- TDS on perps is unclear too. CoinSwitch says TDS "has been extended to many crypto derivative trades" without saying which (CoinSwitch). The guides we checked are written for Indian exchanges that deduct TDS for you; none explains how it works when you trade on an offshore DEX.
Talk to a chartered accountant before you file, and keep records of every trade, deposit and withdrawal.
How we checked
- We opened each DEX's terms page on 14 Nov 2026 and recorded only the countries the terms name.
- Where a page wouldn't load, we say so and name the source we used instead.
- Restricted lists change, so re-check the terms before you deposit. See How Perpd scores perp DEXs for how access feeds Perpd scores.
Each DEX's access factor is on the Perp DEX risk scorecard: 10 DEXs ranked by risk, and our Best perp DEXs in 2026, ranked by risk page weighs access alongside the other risks.
Sources
- Hyperliquid supported and restricted countries, Datawallet, 2 Oct 2026
- Terms of use, Hyperliquid, accessed 14 Nov 2026 (did not render)
- Terms of service, Lighter, 29 Dec 2025
- Aster (ASTER) token transparency filing, H2 2026, Blockworks, H2 2026
- Terms of use, Variational docs, accessed 14 Nov 2026
- Restricted persons, Variational docs, 20 Apr 2026
- Terms of use, edgeX docs, undated, accessed 14 Nov 2026
- Trading on Pacifica: overview, Pacifica docs, accessed 14 Nov 2026
- Terms of use, Extended docs, 30 Oct 2026
- Restricted countries, Extended docs, accessed 9 Nov 2026
- Terms of use, Paradex, 8 Nov 2024
- Paradex's 'free bitcoin' pricing glitch triggers mass liquidations, forces rollback, The Block, 19 Jan 2026
- Terms of use, Jupiter, undated, accessed 14 Nov 2026
- India seeks takedowns of 15 crypto platforms over AML compliance, The Block, 9 Sep 2026
- Crypto futures traders in India are filing taxes under two different systems, KoinX, 24 Jun 2026 (updated 3 Nov 2026)
- Crypto futures and options tax in India 2026, CoinSwitch, 29 May 2026
- GMX, perpfinder, terms checked 23 Sep 2026
- Terms and conditions, GMX, accessed 14 Nov 2026 (legal text did not render)
- Compulsory registration of offshore VDA service providers with FIU-IND, Ministry of Finance (PIB), 28 Dec 2023
- Section 194, Income-tax Act, 2025, Income Tax Department, accessed 14 Nov 2026
- TDS on virtual digital assets: Section 393(1) (194S), TDSMan, 24 Aug 2026
FAQ
Can US residents use Hyperliquid?
No. Hyperliquid's terms bar US persons and residents of Ontario, according to Datawallet's summary of the terms. Using it from the US breaks those terms.
Which perp DEXs block the UK?
Of the 10 DEXs we score, Lighter and Aster name the UK in their restricted lists. perpfinder reports that GMX's terms name the UK only as a sanctions authority. We couldn't confirm the lists for Paradex or Extended.
Can people in India use perp DEXs?
None of the DEX terms we could read names India in its restricted list. India requires VDA service providers serving Indian users to register with FIU-IND, and in Sep 2026 it sought takedowns of 15 crypto platforms, none of them on our list.
Are crypto perp profits taxed at 30% in India?
It isn't settled. Gains on VDA transfers are taxed at 30% plus cess, with 1% TDS, but the CBDT hasn't issued definitive guidance on crypto derivatives, and traders file under different approaches. Ask a chartered accountant.
Related
- The Paradex rollback: what happened in Jan 2026 and what it means for exit riskHow 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.
- Best perp DEXs in 2026, ranked by risk10 perp DEXs ranked by the risks that cost traders money: exits, liquidations, access, token and fees. Every score sourced. Nov 2026.
- Perp DEX fees compared: what a $100K trade really costsTaker and maker fees for 10 perp DEXs, plus measured slippage on $100K orders. Fees, not slippage, decide most of your cost.
- Which perp DEXs have points programs right now?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.
Scores are never for sale. This page has no affiliate links and no paid placements. Not financial advice: perps are leveraged and you can lose more than you deposit.