Venue safety grades
How 12 on-chain perpetual futures venues treat your money when something goes wrong: a crash, a bad price, an exploit, a frozen withdrawal. Every grade comes from public facts, and every fact links to its source.
Data as of 3 November 2026 · How we grade · See the grades
What stands out
- 12 of 12venues can freeze withdrawals without a delayed vote, or do not say whether they can.Custody and withdrawal
- 10 of 12venues offer no contract-level exit if the operator stops, or do not say whether they do.Custody and withdrawal
- 10 of 12venues can change their system in less than a day, or do not say how long it takes.Custody and withdrawal
- 5 of 12venues have no public audit of their core code from the last 24 months.Transparency and operations
Each count includes only the venues where we could confirm that fact.
Grades
| Venue | Grade and score | Liquidation | Backstop | Oracle | Custody | Incidents | Liquidity | Transparency |
|---|---|---|---|---|---|---|---|---|
 Lighter | B71 | 11/20 | 15/15 | 12/15 | 8/15 | 11/15 | 6/10 | 8/10 |
 dYdX | C69 | 17/20 | 15/15 | 15/15 | 4/15 | 11/15 | 1/10 | 6/10 |
 Hyperliquid | C65 | 14/20 | 13/15 | 15/15 | 4/15 | 9/15 | 6/10 | 4/10 |
 Jupiter Perps | C63 | 10/20 | 10/15 | 12/15 | 6/15 | 15/15 | 6/10 | 4/10 |
 Extended | C63 | 20/20 | 5/15 | 7/15 | 4/15 | 15/15 | No data | 6/10 |
 Veranta | C62 | 16/20 | No data | 9/15 | 4/15 | 15/15 | 3/10 | 6/10 |
 edgeX | C59 | 12/20 | 5/15 | 9/15 | 8/15 | 15/15 | No data | 4/10 |
 GMX | C58 | 13/20 | 10/15 | 7/15 | 6/15 | 10/15 | No data | 6/10 |
 ApeX Omni | D52 | 12/20 | 5/15 | 6/15 | 4/15 | 15/15 | 6/10 | 4/10 |
 Paradex | D47 | 13/20 | 13/15 | 5/15 | 4/15 | 3/15 | 3/10 | 6/10 |
 Aster | D44 | 16/20 | 5/15 | 5/15 | 0/15 | 10/15 | 6/10 | 2/10 |
 Ostium | D40 | 16/20 | No data | 4/15 | 4/15 | 1/15 | 1/10 | 8/10 |
- LighterB71
- dYdXC69
- HyperliquidC65
- Jupiter PerpsC63
- ExtendedC63
- VerantaC62
- edgeXC59
- GMXC58
- ApeX OmniD52
- ParadexD47
- AsterD44
- OstiumD40
“No data” means a fact we need is still missing, and it never counts as zero. A venue needs six of the seven criteria scored to get a grade. If one is missing, we scale its score from the points we could score.