This best DEX for leverage trading table is ordered by the documented BTC cap. EVEDEX heads it with 200x on
positions up to $50,000 of notional, against 200x up to 400 USDT on Aster. edgeX holds 100x up to $1 million
of position value, and Hyperliquid's 40x is the lowest cap among the venues scored here.
What the numbers say
01200x on small BTC positions: EVEDEX up to $50,000 of notional, Aster only up to 400 USDT.
02100x on large positions: edgeX keeps 100x up to $1 million of BTC position value.
03The cap and the size it holds to are two different questions, and only the second separates the 200x pair.
04Deepest measured book among these venues: edgeX, a median $29.5 million within 10 bps.
05Below our 50x cut-off: Hyperliquid, at 40x on BTC and the lowest documented cap among the venues scored here.
WeightsTrading cost25Liquidity25Custody and settlement20Security record15Market coverage10Access5how we rate
Best DEX for leverage trading, venues with 50x or more on BTC
Ordered by the documented BTC cap and the notional it holds to. Our six-criterion total does not set this
sequence and is not printed beside it, because one table cannot carry two orders at once; equal caps are
separated by that total, and the hybrid ranking lists the same venues in
the order the formula gives. On that total Lighter leads at 8.5/10, then
Extended at 7.8, with EVEDEX at 6.5 — a different
question from the one this table answers, and the reason both orders are named rather than one.
Entry-tier fees on the BTC perpetual; market counts as each venue's own interface reports them. Venues the sequence cannot separate hold the same rank. Availability is decided by each venue's terms, not by this desk. Facts as of 18 September 2026; this table carries no score column, because it is sequenced by one published term rather than by the site formula; the scored order of the same venues is on the ranking.
Order-book readings
Every BTC perpetual book on this page was polled on a ten-minute tick, 18 September 2026 12:02 UTC to 19 September 2026 09:10 UTC. The figures are medians of all successful snapshots, and the last column is how many snapshots stand behind each row.
Venue
$10,000 round trip, taker
Median spread
Median depth, 10 bps
Depth scale
Impact, $100,000 order
Snapshots
EVEDEX
$9.00
4.12 bps
$18.3 million
2.06 bps
111
Aster
$8.00
0.01 bps
$16.1 million
0.38 bps
113
edgeX
$9.00
0.04 bps
$29.5 million
0.02 bps
109
ApeX Omni
$10.00
0.71 bps
$1.8 million
0.38 bps
114
Extended
$5.00
0.12 bps
$7.4 million
0.06 bps
114
Lighter
$0.00
0.01 bps
$16.9 million
0.60 bps
114
dYdX
$10.00
1.23 bps
$845,322
6.95 bps
114
Spread and depth are read straight from each venue's public order-book endpoint; price impact is what a market order of that size would pay against the book as it stood. No accounts were opened and no orders were placed.
01
1. EVEDEX — 200x on small BTC, ETH and SOL positions
EVEDEX allows 200x on BTC, ETH and SOL for positions up to $50,000 of notional, 100x on XRP, gold, silver and
crude oil, 75x on 24 markets and 50x on 18, including US stocks and SPY (EVEDEX trading terms, checked
18 September 2026). Fees are 0.015% maker / 0.045% taker, and a $500,000 ADL Protection Reserve Fund has operated since
18 July 2026.
Reads well
200x on small BTC positions
ADL Protection Reserve Fund
Reads badly
Cross margin only
No documented forced withdrawal
Not for: UK retail clients.
02
2. Aster — 200x on very small orders
On Aster's order book, BTC reaches 200x only up to 400 USDT of notional, 150x up to $300,000 and 100x up to
$800,000. A separate Shield Mode goes to 1001x with a cap on profit per position
(Aster trading rules, checked 18 September 2026).
Reads well
High caps across the ladder
0% maker fee
Reads badly
200x only up to 400 USDT
Shield Mode caps profit per position
Not for: traders who expect 200x on a real position size.
edgeX allows 100x on BTC up to $1 million of position value, 75x up to $3 million and 50x up to $5 million
(edgeX risk tiers, checked 18 September 2026). Fees are 0.040% maker / 0.045% taker.
Reads well
100x on positions up to $1 million
Documented exit without the operator
Reads badly
Auto-deleveraging can close part of a profitable position
4. ApeX Omni — 100x with margin that scales by size
ApeX Omni shows 100x on BTC with a 1% initial margin up to $100,000, rising by 1% for each further $100,000;
the maximum position is $15 million (ApeX API, checked 18 September 2026). Fees are
0.020% maker / 0.050% taker.
Extended keeps 50x on BTC and ETH up to $4 million of position value, then steps down to 25x up to $8 million
(Extended margin schedule, checked 18 September 2026). Fees are 0% maker / 0.025% taker for every
account.
Reads well
50x up to $4 million
0.025% taker fee
Reads badly
BTC capped at 50x
No documented forced withdrawal
Not for: traders who want the headline leverage figure on BTC.
Lighter allows 50x on BTC with a 2% initial margin (Lighter contract specifications, checked 18 September 2026)
and charges 0% on its default account, which adds 300 ms to taker orders. Every batch of trades is proven on
Ethereum, and a forced exit is documented.
A headline cap applies only to small positions; below it each venue steps down. EVEDEX drops to 150x at
$75,000 and 100x at $200,000, Aster to 150x at $300,000 and 100x at $800,000, edgeX to 75x at $3 million
and 50x at $5 million, Extended to 25x at $8 million and 3.3x at $60 million, while ApeX Omni raises the
initial margin by 1% per further $100,000.
Lighter and dYdX publish no notional tiers at all, only a flat 2% initial margin requirement on the BTC
perpetual. Maintenance margin liquidates before the initial margin is gone. Leverage shortens the distance between the entry price and the liquidation price, and the whole margin sits inside that distance. At 200x
that distance is half a percent. EVEDEX runs cross margin only, in
USDT, so every position shares one balance. Hyperliquid, at 40x on BTC, sits below this page's cut-off.
When liquidations spill over
If a liquidation leaves an account negative, venues close profitable positions on the other side — auto-deleveraging. dYdX picks the counterparties at random, and edgeX documents that it can close part of a
profitable position at the bankruptcy price. EVEDEX has run a $500,000 ADL Protection Reserve Fund since
18 July 2026 (EVEDEX blog). On dYdX, an insurance fund that runs dry would haircut every
withdrawal by a socialized-loss factor.
How the readings were taken
Two kinds of number reach this screen. Depth, spread and price impact are ours — every BTC perpetual
book polled on a ten-minute tick, 18 September 2026 12:02 UTC to 19 September 2026 09:10 UTC, no account opened and no order sent, each median printed with
the count of readings behind it. The rest is read off each venue's own documentation and trading terms
on 18 September 2026: rate cards, market lists, leverage ladders, sign-in and access rules, audit
history. Six weighted criteria, fixed on 18 September 2026 and unmoved since, turn those readings into the
7 totals on this page (How we rate). Venues qualified with at least 50x on BTC; leverage tiers come from each venue's
documentation and trading terms.
Custody, settlement and the security record are marked off documents, and a document is a statement of
intent — none of it has been put under stress here. The fee column is the entry-tier rate a new account
is quoted, with volume tiers, rebates and cashback left out of it. Depth was read on the BTC book
alone, the deepest contract every one of these venues runs, so a venue that reads well on this screen
can still be thin in a smaller market. Venues priced from an oracle or a pool never had a resting book
to read, and carry their facts without a total on the perp DEX list.
FAQ
How risky is 100x leverage?
Very risky. At 100x the initial margin is 1% of the position, so a 1% move against you wipes it out, and
maintenance margin triggers liquidation before that. edgeX and ApeX Omni offer 100x on BTC only on smaller
positions, and caps fall as position size grows.
Which platform is best for leverage trading?
Two venues print 200x. EVEDEX holds it to $50,000 of notional on BTC, ETH and SOL, Aster to 400 USDT,
and edgeX holds 100x to $1 million. The headline multiple is tied; the size it survives is not. On our
overall score, which weighs fees, depth, custody and security, Lighter leads at 8.5/10.
Which crypto exchange gives 1000x leverage?
Among the venues here, only Aster's Shield Mode goes to 1001x on BTC, with a cap on profit per position. On its
order book the cap is 200x, and only up to 400 USDT. At 1000x a 0.1% price move erases the margin.
Whats the best dex for leverage trading?
It depends on position size. EVEDEX and Aster both cap BTC at 200x, but EVEDEX holds that cap to $50,000 of
notional and Aster only to 400 USDT; for positions up to $1 million, edgeX keeps 100x. Overall, weighing fees,
depth, custody and security, Lighter leads our site-wide score at 8.5/10.
Which DEX's are best for leverage-trading SOL?
For SOL specifically, EVEDEX allows 200x on SOL for positions up to $50,000 of notional. Jupiter Perps, a
Solana-native pool venue, allows up to 250x on SOL, ETH and wBTC with position fees of 0.06% to open and to
close. Both caps apply to small positions only.
Perps / Leverage Trading strategies?
We do not give strategies or advice. What is measured here is the cost side: a $10,000 taker round trip costs
$9.00 at EVEDEX and nothing on Lighter's default account, and a $100,000 BTC market order moved
the price 0.60 bps on Lighter in the snapshots.
Spaces Research — Updated: — write to editorial@spacesdao.org