the uponly vs dydx comparison is interesting because the two products barely live in the same category. dydx is an orderbook perp dex built for an institutional-leaning audience. uponly is a one-tap, high-leverage arcade for degens and creators. they share the word "perps" and almost nothing else. this 2025 breakdown explains where each one fits.
we are the uponly team, so we are biased. we will still tell you when dydx is the right pick, because dressing this up as a knockout would be dishonest.
how each one works
dydx runs a central-limit orderbook, currently on its own cosmos-based chain. makers post resting orders, takers cross the spread, matching happens off-chain with on-chain settlement on v3, or fully on-chain on v4. structurally it takes a conventional exchange-style approach.
uponly is not an exchange. uponly is a one-tap arcade that routes execution to avantis on base. you pick collateral and leverage, you tap rip, and the platform opens a random pair at a random side. there is no orderbook to stare at, no slippage tab to obsess over, no maker rebate to optimize. it is a different game.
the design philosophies
dydx is built for precision. uponly is built for impulse. both are valid, neither is universally better. if you have a thesis, dydx gives you the tools to express it. if you just want to rip, uponly removes every decision except size and leverage.
fees
dydx uses a tiered maker-taker fee model. takers pay a percentage that drops with volume. structurally it follows the industry-standard orderbook approach.
uponly is structurally different. the fee model is one-sided in your favor:
- zero fee to open. nothing taken at entry.
- zero fee on a losing trade. when you lose, the platform earns zero.
- a small variable fee on net winnings only. that is the entire revenue model.
- no maker-taker bands, no tier grind, no volume games.
leverage
dydx leverage is calibrated lower than uponly's. it is calibrated for traders managing larger size, where higher leverage at scale creates risks that an orderbook venue chooses not to take.
uponly defaults to 75x to 500x. that is the explicit product. the size you bring is entertainment-sized, the leverage is arcade-sized, and the worst case is the collateral you posted. it is not for sizing into long-term theses.
user experience
dydx offers a conventional exchange-style interface. order types, charts, funding rates, depth, history. learning it is an investment and addresses a different workflow than an arcade.
uponly has one screen. one button. one decision tree:
- fund your in-app wallet on base.
- set collateral size.
- set leverage between 75x and 500x.
- tap rip.
- manage or close the position when you feel like it.
no chart watching, no order setup, no waiting for fills. the ux design intentionally removes optionality, because optionality is what makes you sit on your hands instead of just trading.
side-by-side at a glance
- matching model: dydx runs a central limit orderbook. uponly routes to on-chain avantis markets.
- fee model: dydx uses maker-taker tiers on every trade. uponly charges only on net winnings.
- max leverage: dydx uses lower caps calibrated for orderbook trading. uponly 75x to 500x.
- chain: dydx has its own appchain (v4). uponly is on base.
- asset selection: dydx lists a curated set of perp markets. uponly inherits avantis pairs.
- creator program: dydx has standard referrals. uponly pays 50 percent of fees from referred traders, forever — see the uponly affiliate program.
- shipping cadence: dydx ships big versioned releases. uponly ships a new game every week.
best for
dydx targets active traders who want an orderbook with advanced order types and the ability to scale into and out of meaningful size. it addresses workflows like funding-rate arb, market-making, or any strategy that depends on a real book.
uponly is best if you want one-tap rips at extreme leverage, you do not want to babysit positions, and you appreciate a fee model that does not nibble at you on losing days. it is also the right pick for creators with crypto-adjacent audiences who want to monetize attention without selling a token.
why uponly is built different
we shipped the first working uponly in a single night. since then we ship a new arcade game every week. the one-tap rip is the first cabinet. the positioning is the arcade for meme pages, not a tier-1 institutional venue. uponly is built by creators, for creators, which is why the affiliate share is 50 percent and forever — not a temporary growth gimmick.
the honest verdict (and a CTA)
dydx and uponly address different workflows. dydx is for the orderbook trader. if you want the no-house, no-fees-on-losses, one-tap arcade experience, try uponly and see how a real rip feels. both products can coexist in your stack. perps are high-risk entertainment in either venue. size to entertainment.