10X vs Kwenta (Synthetix Exchange)
Which platform is better for trading in 2026? Here's an honest, side-by-side comparison.
10X offers 3x more markets (150+ vs ~50) and double the leverage (50x vs 25x) compared to Kwenta, now Synthetix Exchange after the 2024 acquisition. Kwenta has lower dynamic fees (0.02% maker), but 10X provides stocks, commodities, and Hyperliquid's fully on-chain order book with $5B+ daily volume.
Quick Comparison
| Feature | 10X | Kwenta (Synthetix Exchange) |
|---|---|---|
| Type | DeFi perps (Hyperliquid L1) | Decentralized perpetual exchange powered by Synthetix (acquired by Synthetix in 2024) |
| Assets | 150+ (crypto, stocks, commodities) | ~50 perpetual futures |
| Max Leverage | 50x | Up to 25x (up to 50x on select markets) |
| Trading Fees | 0.14% taker | 0.02-0.06% (dynamic, oracle-based) |
| KYC Required | No | No |
| Custody | Self-custodial | Self-custodial |
| Short Selling | Yes, all 150+ assets | Yes, any listed asset |
| Execution | Sub-second (Hyperliquid L1) | Depends on Base/Optimism block time |
| Trading Hours | 24/7 | 24/7 |
Kwenta (Synthetix Exchange): Strengths
- Powered by Synthetix (deep synthetic liquidity)
- Low dynamic fees (0.02% maker)
- No KYC
- Self-custodial
- Smart Margin accounts for advanced strategies
- Now part of Synthetix ecosystem
Kwenta (Synthetix Exchange): Weaknesses
- Only ~50 assets (vs 150+ on 10X)
- Max 25x leverage on most markets (vs 50x on 10X)
- Dependent on Synthetix oracles
- No traditional order book (synthetic execution)
- Smaller trading volume than Hyperliquid
- Complex UX for beginners
- KWENTA token deprecated after Synthetix acquisition
10X: Why Traders Choose It
- Up to 50x leverage on major assets like BTC and ETH
- 150+ markets: crypto, stocks (AAPL, TSLA, NVDA), and commodities (Gold, Silver)
- Self-custodial: your private keys never leave your browser
- No KYC, no identity verification, no bank account required
- 0.14% trading fee with no hidden charges
- Sub-second execution on Hyperliquid L1 ($5B+ daily volume)
- Clean desktop interface designed for serious traders
- Go long or short on any asset, 24/7
The Verdict
Kwenta (now Synthetix Exchange after the 2024 acquisition) offers innovative synthetic execution and low fees. But 10X provides 3x more markets (150+ vs 50), double the leverage (50x vs 25x), stocks and commodities, and Hyperliquid's fully on-chain order book with CEX-grade performance. 10X is better for traders wanting variety, higher leverage, and a cleaner interface.