# Spaces Research

> A monitor rather than a review. One row per venue: what the BTC book was holding at each reading, what a pair of taker fills costs at the entry rate, who can move the collateral once it is deposited. The count of readings sits beside every median, so a thin number is visible as a thin number.

- [Perpetual futures venues, measured](https://spacesdao.org/): Among the perp DEXs and hybrid venues here, EVEDEX keeps 200x on BTC to the largest size: $50,000 of notional, then 100x to $200,000. Aster's order book lists 200x only to 400 USDT; edgeX and ApeX Omni stop at 100x, Lighter, Extended and dYdX at 50x, Hyperliquid at 40x.
- [Best DEX for Leverage Trading in 2026](https://spacesdao.org/best-dex-for-leverage-trading): Perp DEXs with at least 50x on BTC, ranked by documented leverage cap and where it holds: EVEDEX 200x to $50,000, Aster 200x to 400 USDT, edgeX 100x to $1 million, plus fees, depth and ADL rules.
- [Perp DEX Fees Compared in 2026](https://spacesdao.org/perp-dex-fees-compared): Perp DEX fees compared across 13 venues — entry-tier maker and taker rates, discounts, the taker cost of a $10,000 round trip, and the measured spread and price impact on top.
- [EVEDEX vs Hyperliquid in 2026](https://spacesdao.org/evedex-vs-hyperliquid): EVEDEX vs Hyperliquid on fees, measured BTC depth, leverage, markets, custody and security record, with every number dated and sourced.
- [What Is a Hybrid Crypto Exchange?](https://spacesdao.org/what-is-a-hybrid-crypto-exchange): A hybrid crypto exchange matches orders off-chain and settles on a blockchain. How the two halves work, how hybrids differ from CEXs and DEXs, and how to check one before you deposit.
- [Best Perp DEX for Beginners in 2026](https://spacesdao.org/best-perp-dex-for-beginners): Perp DEXs that let a first-time trader practise on a testnet or demo, or sign in with email instead of a browser wallet, scored on cost, liquidity, custody and security.
- [Hyperliquid vs Lighter in 2026](https://spacesdao.org/hyperliquid-vs-lighter): Hyperliquid vs Lighter on fees, latency, measured BTC depth, custody, markets and restrictions, with every number dated and sourced.
- [Perp DEX List 2026](https://spacesdao.org/perp-dex-list): A perp DEX list of the order-book, hybrid and oracle-priced venues we track, with chain, pricing model, entry fees, market count, restricted countries and current status.
- [Best Hybrid Crypto Exchanges in 2026](https://spacesdao.org/best-hybrid-crypto-exchanges): Hybrid crypto exchanges match orders off-chain and settle or prove trades on-chain. We scored them on fees, measured BTC liquidity, custody, security, markets and access, with every number dated.
- [Aster Alternatives in 2026](https://spacesdao.org/perp-dex-instead-of-aster): Order-book perp DEXs to compare with Aster on fees, measured BTC depth, custody, security and restricted countries, scored with one published formula.
- [Most Liquid Perp DEX in 2026](https://spacesdao.org/most-liquid-perp-dex): Eight perp DEXs and hybrids ranked by measured BTC order-book depth within 10 basis points, with spreads and the price impact of $10,000 to $1 million market orders.
- [About Spaces Research](https://spacesdao.org/about): Who runs spacesdao.org, what the site compares, where its numbers come from and how the pages are kept current.
- [How we rate perp DEXs and hybrid exchanges](https://spacesdao.org/methodology): The one methodology behind every ranking on spacesdao.org — six weighted criteria, the formula for each, the data sources and how ties are handled.
- [Data and privacy](https://spacesdao.org/data-and-privacy): The short version, because there is little to say: one access-log line per request, nothing else recorded, and mail kept only until the question is answered.
- [Terms of use](https://spacesdao.org/terms): Terms for reading spacesdao.org: information only, figures true on the day printed, venue admission decided elsewhere, and publication paid for.