Quick verdict & comparison table
TL;DR: dYdX is the battle-tested choice for crypto perpetuals with a token that's already live. Arcus is the newer, forward-looking play: tokenized stocks 24/7, zero-fee spot, and a confirmed token that hasn't launched yet. If you're here for a fresh airdrop, Arcus is where the opportunity is — and there's nothing stopping you from using both.
| Arcus | dYdX | |
|---|---|---|
| Focus | Tokenized stocks, RWAs & perps | Crypto perpetuals |
| Chain | Robinhood Chain (EVM L2) | dYdX Chain (Cosmos app-chain) |
| Built by | dYdX Labs × Robinhood Crypto | dYdX Labs |
| Spot fees | 0% (zero-fee spot) | Perps-focused (no stock spot) |
| Custody | Self-custodial | Self-custodial |
| Token | Confirmed, not yet launched | $DYDX live |
| Airdrop status | Upcoming opportunity | Past distributions done |
| Best for | 24/7 stocks + early airdrop | Established crypto perps |
Want the fresh airdrop?
Arcus is the early one. Sign up and get 5% off all trading fees.
What's actually different
The confusion is understandable: Arcus is built by dYdX Labs, the same team behind dYdX. But they're two separate products aimed at different users.
- dYdX is a mature decentralized exchange for crypto perpetual futures, running on its own Cosmos-based app-chain, with the $DYDX token already live and years of track record.
- Arcus is the newer venture: a self-custodial exchange for tokenized stocks and RWAs on Robinhood Chain, letting you trade equities like Tesla and NVIDIA 24/7, with a token that's confirmed but not yet launched.
They're best seen as complementary — but only one of them still has its token event ahead of it.
Fees compared
This is where Arcus stands out for newcomers: spot trades are zero-fee. That's a genuine edge if you want to build trading activity cheaply (for example, while farming the airdrop). dYdX charges the usual maker/taker fees on perps, competitive for active crypto traders but a different model entirely.
Bonus: signing up to Arcus through our link applies a permanent 5% discount on all trading fees — stacked on top of the already-zero spot fees.
Markets & products
dYdX is crypto-native: deep perpetual markets on major digital assets. Arcus opens a different door — 95+ tokenized markets spanning 80+ equities (Tesla, Apple, NVIDIA), indices (SPY, QQQ), commodities (gold, oil) and crypto, with perpetual futures rolling out via a waitlist. If you want stocks on-chain, around the clock, dYdX simply doesn't offer that — Arcus does.
Is Arcus legit and safe?
A fair question for any new platform. The honest answer:
- Legit: Arcus is built by dYdX Labs and backed by an investment from Robinhood Crypto. Stock tokens are backed 1:1 by Robinhood Crypto. That's a serious pedigree, not an anonymous team.
- Self-custodial: you hold your own assets — there's no custodian that can freeze or lose your funds the way a centralized exchange can.
- Risks to respect: crypto market volatility, smart-contract risk, and jurisdictional limits on tokenized stocks (including for U.S. persons). Airdrops are never guaranteed. Only use funds you can afford to lose.
Airdrop potential: where's the opportunity?
This is the deciding factor for most people reading a comparison like this. dYdX already launched $DYDX and ran its distributions — that opportunity is largely in the past. Arcus has a confirmed token that hasn't launched, with an allocation reportedly reserved for the dYdX community. In other words, the forward-looking airdrop opportunity clearly sits with Arcus today.
The smart move if you were an early dYdX user: link that dYdX history to Arcus and start building activity. Our step-by-step Arcus airdrop guide covers exactly how.
Get positioned on Arcus
Zero-fee spot, a confirmed token ahead, and 5% off fees via this link.
FAQ
Are Arcus and dYdX the same?
No — separate exchanges from the same team (dYdX Labs). dYdX does crypto perps on its Cosmos chain with a live $DYDX token; Arcus does tokenized stocks on Robinhood Chain with zero-fee spot and a not-yet-launched token.
Is Arcus legit?
Yes, in the sense that it's built by dYdX Labs and backed by Robinhood Crypto, with stock tokens backed 1:1. It's a credible team — but always do your own research and manage risk.
Is Arcus safe to use?
It's self-custodial, so you keep control of your assets. The risks are the usual crypto ones — volatility, smart-contract risk, and jurisdictional limits on tokenized stocks. Only trade what you can afford to lose.
What are Arcus fees?
Spot trading is zero-fee. Signing up via our link adds a 5% discount on all trading fees, which also applies to perps as they roll out.
Which is better for the airdrop, Arcus or dYdX?
Arcus, for a fresh opportunity — dYdX's token is already live, while the Arcus token is confirmed but hasn't launched. See the Arcus token page.