Crypto exchanges give users a way to buy, sell, and swap digital assets, but they do not all operate in the same way. Centralised exchanges (CEXs) act as intermediaries, typically taking custody of users’ funds and matching trades through their own infrastructure. Decentralised exchanges (DEXs), on the other hand, use blockchain-based smart contracts to facilitate trades directly from a user’s wallet. This gives users greater control over their assets and removes the need to rely on a central platform to hold their funds.
DEXs have evolved considerably over the years, with platforms now offering different approaches to liquidity, trading mechanisms, supported networks, and fees. However, trading on a DEX also comes with considerations such as network costs, slippage, liquidity, and smart-contract risk. As a result, choosing a DEX is less about finding one platform that works for everyone and more about finding one that fits a trader’s needs. That said, here are the top 8 DEXs every crypto trader should know about in September 2026.
1. SushiSwap
SushiSwap is a multi-chain DEX that supports 25+ blockchains, giving users access to a wider range of networks than most of the platforms on this list. Its SushiXSwap feature allows users to swap tokens across different chains without having to manage external bridges themselves. The platform also supports standard AMM-based trading and has a native SUSHI token, while network fees depend on the blockchain being used.
SushiSwap has also remained popular among users interested in yield farming through its Onsen program, which provides incentives for supplying liquidity to selected pools. However, spreading liquidity across so many networks can result in more fragmented markets, and its trading volume has generally remained below Uniswap’s in recent years. Even so, its broad chain coverage and cross-chain swaps make it worth considering for traders who regularly move between different blockchain ecosystems.
2. Hyperliquid
Hyperliquid is built on its own Layer-1 blockchain and is mainly known for its perpetual futures trading. Rather than using an automated market maker, it runs a fully on-chain order book, giving traders a setup that feels closer to a centralised exchange while still keeping trades on-chain. It can process up to 200,000 orders per second, and traders do not pay gas when placing or cancelling orders. This combination has made Hyperliquid particularly appealing to users who want faster execution for more active trading strategies.
The platform offers 100+ trading pairs and up to 50x leverage on perpetuals, with liquidity concentrated around its derivatives markets. Users also remain in control of their funds instead of handing custody to a centralised exchange. However, assets need to be bridged to Hyperliquid’s L1, and its spot trading selection is smaller than that of many AMM-based DEXs. For traders primarily interested in perpetuals, though, its order-book model and low-cost trading make it one of the more notable DEXs to consider.
3. dYdX
dYdX is mainly focused on derivatives, offering perpetuals and margin trading through a fully decentralised order book. With its v4 upgrade, the platform moved to its own Cosmos-based app-chain, allowing validators to process trades rather than relying on any external centralised matching system. Traders can use leverage and advanced order types while keeping custody of their funds, making dYdX more suited to users who want a trading setup similar to a traditional exchange but on-chain.
The platform also has its own token, DYDX, which has high trading volumes across its major markets. Its focus on derivatives means it is not designed to be a general-purpose DEX for every type of swap, but it offers more trading tools than many simpler platforms. Users do need to get set up on the dYdX app-chain, and the platform is currently geo-blocked in the US, which limits access for traders in that region.
4. Uniswap
It’s no surprise that Uniswap is on the list, as the DEX has helped popularise the automated market maker (AMM) model used across DeFi. It remains a major source of spot liquidity, particularly for Ethereum-based tokens, and allows users to swap assets without going through a centralised intermediary. The platform is available across several networks, including Ethereum, Polygon, Arbitrum, Optimism, Base, and BNB Chain, giving traders more options depending on the assets they want to trade and the network fees they are willing to pay.
The launch of Uniswap v4 also introduced hooks, which allow developers to customise how liquidity pools operate and add new functionality around trades. Ethereum mainnet transactions can still be expensive when network activity is high, but using Uniswap on Layer-2 networks such as Arbitrum and Optimism can reduce those costs. Its deep liquidity and permissionless listing model make it particularly useful for traders looking for a wide range of spot assets, although liquidity providers still need to account for risks such as impermanent loss.
5. 1inch
1inch is a DEX aggregator rather than an exchange itself, bringing liquidity from multiple decentralised platforms into one place. It searches across multiple decentralised exchanges like Uniswap, SushiSwap, and Curve to find a suitable route for each trade, which can help users get a better price or reduce slippage than they might find by checking a single DEX. The platform supports 10+ networks, including Ethereum, BNB Chain, and Polygon, and its Fusion mode also allows users to make swaps without paying gas directly.
The routing can also help protect trades from MEV and front-running, although more complicated routes may use more gas, particularly for smaller transactions. With liquidity pulled from hundreds of sources, 1inch can be useful for traders who want to compare execution across the wider DeFi market without manually checking several exchanges. The amount of information shown on the platform can take some getting used to, especially for those who are new to DEX aggregators.
6. ApeSwap
ApeSwap is a community-driven DEX focused on staking, yield farming, and liquidity mining, with support for networks including BNB Chain, Polygon, Ethereum, and Telos. Its most distinctive feature is its Treasury Bills, which allow users to buy certain tokens at a discount. Alongside its standard AMM-based trading and farming features, this gives ApeSwap a stronger focus on earning yield rather than simply swapping assets.
The platform uses BANANA as its native token and generally has relatively low network costs, although its liquidity and trading volumes are lower than those of the larger DEXs. ApeSwap also has a strong community presence, but users should pay attention to the risks that come with yield products, including the potential impact of high inflation in reward tokens. For users specifically looking for staking and farming opportunities, however, it offers more options than a straightforward token-swapping platform.
7. Swapzone
Swapzone is a non-custodial crypto services aggregator that lets users compare several exchange providers before completing a swap. It brings together information such as real-time exchange rates, estimated processing times, supported assets, and KYC requirements, so users can check their options before committing to a provider. This can be especially useful for those who want to avoid unexpected verification requirements or simply find a rate and processing time that suit them.
Swapzone also includes provider ratings and verified community reviews, giving users more information to consider alongside the advertised rates. The actual exchange is completed through the provider selected by the user, so features and KYC policies can vary between services. While comparing several providers may take a little longer, the platform gives users a clearer picture of their options before making a swap.
8. Curve Finance
Curve Finance is particularly useful for swapping assets that are designed to hold a similar value, such as USDC and USDT or ETH and stETH. Its specialised bonding curve is designed to keep slippage low on these trades, which makes Curve a popular choice for larger swaps where even small differences in execution can matter. The DEX is available across networks including Ethereum, Avalanche, Fantom, Polygon, Arbitrum and Optimism, while its CRV token is used within the Curve ecosystem.
Curve is also closely tied to DeFi’s yield farming sector, with users able to provide liquidity to its pools and earn returns from their deposited assets. Its stablecoin pools have made it an important part of the wider DeFi market, although the platform is less suited to trading highly volatile assets. New users may also find its interface less straightforward than some newer DEXs.
Final thoughtsÂ
DEXs have become an important part of the crypto market by giving traders a way to swap and trade assets directly from their wallets without relying on a centralised intermediary. As the sector has developed, different platforms have focused on areas such as spot trading, derivatives, cross-chain swaps, liquidity provision and yield farming, giving traders more options depending on what they need. However, factors such as liquidity, fees, slippage, supported networks and smart-contract risks can vary significantly between platforms. Users should do their own research, understand how a DEX works, and test the platform with smaller amounts before committing significant capital.
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