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Best Perpetual DEXs · Rank 06 of 8
Traders who want high leverage on non-crypto markets
Last verified August 16, 20264 scored axes
Self-reported only
Gains Network scores 7.6 out of 10 and ranks #6 of 8 in the best perpetual dexs table, strongest on funding & fees (8.0) and weakest on depth at size (7.0).
A synthetic model backed by a single collateral vault that supports forex and equity indices alongside crypto, at leverage no other on-chain venue offers. The vault is both the innovation and the concentration risk.
4 axes, weighted as published in the table’s methodology. Each score below is read from the fact printed under it.
7.6/ 35% of the score
All trades settle against a single collateral vault with published liquidation parameters and spread-based price impact; the vault has run at a temporary deficit during drawdowns but no insolvency event is on record since 2021.
7.0/ 25% of the score
There is no order book: maximum position size per market is set by published vault parameters rather than by resting depth.
8.0/ 20% of the score
Published open and close fees plus a rollover fee charged while a position is held; leverage caps are published per market.
8.0/ 20% of the score
Contracts on Arbitrum and Polygon with upgrade rights held under governance; pricing depends entirely on the designated oracle set.
Forex pairs, commodities and equity indices trade here alongside crypto, at leverage multiples other on-chain venues do not offer. There is no order book: every trade settles against a single collateral vault, and maximum position size per market is set by published vault parameters rather than by resting depth.
The design's elegance is also its concentration. Trader profit is paid by the vault and trader loss accrues to it; the vault has run at a temporary deficit during drawdowns without an insolvency event since 2021. Pricing depends entirely on the designated oracle set, which is the same dependency that has broken other synthetic venues.
Open and close fees plus a rollover fee charged while a position is held, with spread-based price impact. At the leverage this venue enables, a position held through a quiet week can lose money to fees alone, which is worth modelling before it is worth trading.
With no order book, there is no market price to fall back on: the oracle set is the price. That makes oracle quality the single point of failure worth studying before depositing, and it is the mechanism behind most synthetic-venue failures elsewhere in this sector.
Traders who specifically want non-crypto markets on-chain and understand that they are trading against a vault rather than a counterparty.
Yes. Forex pairs, commodities and equity indices trade alongside crypto, settled synthetically against the protocol's collateral vault at prices supplied by its oracle set.
All counterparty risk sits in one vault rather than being spread across market makers. It has run at a temporary deficit during drawdowns but has not become insolvent since 2021, and pricing depends entirely on the oracle set.
Higher multiples than any other on-chain venue on major pairs, with caps published per market. High leverage plus a rollover fee makes holding periods expensive.
8 services in best perpetual dexs