50 reviews ›› 8 of 8 categories ›› Updated 26 Sep 2026

Updated 18 Sep 2026 · 7 reviews

Decentralized Exchanges, ranked

Every product we have tested, ordered by its score out of ten. Ties go to the newer review. Scores change when we re-test, so check the date on each review.

01Decentralized Exchanges

Uniswap homepage headline reading Swap anytime, anywhere

Uniswap Review: When a Swap Beats a Centralized Exchange, and When It Does Not

Uniswap is the most trusted on-chain swap venue, and for long-tail tokens that no exchange lists it is often the only option. It is not automatically cheaper: you pay a pool fee of 0.05% to 1% plus network gas, and you carry the risk of fake tokens and bad approvals. Use it for tokens you can verify, on a low-cost network, with a wallet you trust.

8.2 out of 10
Best for
Self-custody users swapping tokens that centralized exchanges do not list
Price
Free to use; pool and network fees apply
Maker
Uniswap Labs
Reviewed
21 Apr 2026
04Hyperliquid homepage with the heading Infrastructure to House All FinanceHyperliquid Review: An On-Chain Perps Exchange That Trades Like a Centralized OneDecentralized Exchanges · Free to use; trading fees from 0.015% maker7.8 out of 107.8 out of 10Free to use; trading fees from 0.015% makerExperienced perp traders who want self-custody and low fees
05PancakeSwap liquidity pools page headlined 'Earn from Liquidity Pools and Farms' listing pools with their pricesPancakeSwap Review: The Default DEX on BNB Chain, Less Compelling Everywhere ElseDecentralized Exchanges · Free to use; swap and network fees apply7.7 out of 107.7 out of 10Free to use; swap and network fees applyBNB Chain users who swap and farm with their own wallet
06GMX homepage with the GMX logo and perpetual exchange artwork on a dark backgroundGMX Review: Is Trading Perps Safe After the $42 Million V1 Exploit, and What Does It Cost?Decentralized Exchanges · Free to use; position and network fees apply7.4 out of 107.4 out of 10Free to use; position and network fees applyExperienced self-custody traders who want oracle-priced perps without KYC
07dYdX trading screen for BTC-USD showing live price and order book in a dark interfacedYdX Review: A Capable Perps DEX With Fair Fees, Now Living in Hyperliquid's ShadowDecentralized Exchanges · Free to use; trading fees from 5 bps taker and 1 bp maker6.9 out of 106.9 out of 10Free to use; trading fees from 5 bps taker and 1 bp makerExperienced perp traders who want an audited chain and a staking fee discount

A score is our judgement after funding an account, using the product and withdrawing. It is not a prediction and it is not advice: the right choice depends on where you live and what you need.

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