Best decentralized exchanges
On-chain spot swaps (AMMs). We scored 15 of them 0–10 from public data — tvl and audit coverage (defillama) — and ranked the 15 we could measure well enough to place fairly. No affiliate links: the order reflects the evidence, nothing else.
Last collection 2026-08-25: probed 252 services, measured 233, over a 90-day window. Collected by our own script, not by hand — reproducible, and reproducibly boring.
The full ranking
| # | Service | Score | TVL | Audits | Age | Chains | Latency |
|---|---|---|---|---|---|---|---|
| 1 | Uniswap V3 | 8.95100% | $1.56B | 2 | 3.9y | 45 | 78 ms |
| 2 | Curve DEX | 8.9481% | $1.34B | 2 | — | 31 | 173 ms |
| 3 | PancakeSwap AMM | 8.8381% | $1.93B | 2 | — | 11 | 216 ms |
| 4 | Quickswap Dex | 8.4981% | $173.8M | 3 | — | 2 | 106 ms |
| 5 | Aerodrome Slipstream | 8.14100% | $125.4M | 3 | 2.3y | 1 | 66 ms |
| 6 | PancakeSwap AMM V3 | 6.7191% | $311.3M | 0 | 3.4y | 11 | 226 ms |
| 7 | Raydium AMM | 6.381% | $1.11B | 0 | — | 1 | 126 ms |
| 8 | Fluid DEX | 6.22100% | $305.2M | 0 | 1.8y | 5 | 236 ms |
| 9 | SUNSwap V3 | 5.98100% | $218.7M | 0 | 2.6y | 1 | 166 ms |
| 10 | Meteora DLMM | 5.98100% | $217.2M | 0 | 2.5y | 1 | 64 ms |
| 11 | PumpSwap | 5.92100% | $337.6M | 0 | 1.4y | 1 | 58 ms |
| 12 | Orca DEX | 5.8381% | $262.4M | 0 | — | 2 | 119 ms |
| 13 | Hyperliquid Spot Orderbook | 5.6100% | $148.9M | 0 | 1.5y | 1 | 22 ms |
| 14 | Sanctum Infinity | 5.53100% | $195.6M | 0 | 2.4y | 1 | 1031 ms |
| 15 | RocketSwap Anubis | 4.12100% | $188.1M | 0 | 56d | 1 | — |
Every figure carries the date it was taken, on the service’s card below, linked to its open source. Score is out of what we could measure — the % beside it is coverage.
How we scored decentralized exchanges
These weights belong to this category alone. Signature measurement here: TVL and audit coverage (DefiLlama) — On-chain venues live or die on liquidity and code safety, so TVL and audits lead. STATUS is not scored — a DEX smart contract has no status page, and marking every one down for it adds no signal.
How much value the market trusts it with — TVL, reserves or market cap.
Published third-party security audits, with links to the findings.
How long it has run and survived — time is signal.
How many chains it is deployed across.
Response latency we measure ourselves from a public endpoint.
Latency in this category is timed at the live interface for every service, so the comparison is like-for-like. We never compare latency across categories — a DEX interface and an exchange API are not the same thing, and pretending otherwise would just reward whoever we happened to probe more cheaply.
The brief also defines FEES and UX (0%, 0%). We don’t publish them: we can’t measure them ourselves, and an estimate dressed as a measurement is worse than a gap. Full methodology
The services
$1.56B in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
2 published audits with links (DefiLlama) — read the findings yourself. Audits reduce risk, they do not remove it.
Live 3.9 yr (time since DefiLlama listing (a floor on true age)). Most failures happen young, so time survived is real signal.
Deployed on 45 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Median 78 ms to first byte from the live interface, our own probe, slowest sample discarded, single location. Compared only within this category.
Security audits: 2 published audits with links (DefiLlama) — read the findings yourself. Audits reduce risk, they do not remove it.
$1.34B in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
2 published audits with links (DefiLlama) — read the findings yourself. Audits reduce risk, they do not remove it.
No documented launch or listing date to measure age from.
Deployed on 31 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Median 173 ms to first byte from the live interface, our own probe, slowest sample discarded, single location. Compared only within this category.
Security audits: 2 published audits with links (DefiLlama) — read the findings yourself. Audits reduce risk, they do not remove it.
$1.93B in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
2 published audits with links (DefiLlama) — read the findings yourself. Audits reduce risk, they do not remove it.
No documented launch or listing date to measure age from.
Deployed on 11 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Median 216 ms to first byte from the live interface, our own probe, slowest sample discarded, single location. Compared only within this category.
Security audits: 2 published audits with links (DefiLlama) — read the findings yourself. Audits reduce risk, they do not remove it.
$173.8M in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
3 published audits with links (DefiLlama) — read the findings yourself. Audits reduce risk, they do not remove it.
No documented launch or listing date to measure age from.
Deployed on 2 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Median 106 ms to first byte from the live interface, our own probe, slowest sample discarded, single location. Compared only within this category.
Scale of value trusted: $173.8M in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
$125.4M in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
3 published audits with links (DefiLlama) — read the findings yourself. Audits reduce risk, they do not remove it.
Live 2.3 yr (time since DefiLlama listing (a floor on true age)). Most failures happen young, so time survived is real signal.
Deployed on 1 chain (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Median 66 ms to first byte from the live interface, our own probe, slowest sample discarded, single location. Compared only within this category.
Multi-chain reach: Deployed on 1 chain (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
$311.3M in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Live 3.4 yr (time since DefiLlama listing (a floor on true age)). Most failures happen young, so time survived is real signal.
Deployed on 11 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Measured 226 ms, but at a different surface from the rest of this category — not comparable, so shown as context, not scored.
Timed at a different surface from the rest of this category, so not a fair comparison — not scored.
Security audits: No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Anyone putting size into it: it holds funds in smart contracts with no published audit. Fine to experiment with, not to trust with a position you cannot afford to lose.
$1.11B in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
No documented launch or listing date to measure age from.
Deployed on 1 chain (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Median 126 ms to first byte from the live interface, our own probe, slowest sample discarded, single location. Compared only within this category.
Security audits: No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Anyone putting size into it: it holds funds in smart contracts with no published audit. Fine to experiment with, not to trust with a position you cannot afford to lose.
$305.2M in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Live 1.8 yr (time since DefiLlama listing (a floor on true age)). Most failures happen young, so time survived is real signal.
Deployed on 5 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Median 236 ms to first byte from the live interface, our own probe, slowest sample discarded, single location. Compared only within this category.
Security audits: No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Anyone putting size into it: it holds funds in smart contracts with no published audit. Fine to experiment with, not to trust with a position you cannot afford to lose.
$218.7M in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Live 2.6 yr (time since DefiLlama listing (a floor on true age)). Most failures happen young, so time survived is real signal.
Deployed on 1 chain (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Median 166 ms to first byte from the live interface, our own probe, slowest sample discarded, single location. Compared only within this category.
Security audits: No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Anyone putting size into it: it holds funds in smart contracts with no published audit. Fine to experiment with, not to trust with a position you cannot afford to lose.
Meteora DLMM
$217.2M in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Live 2.5 yr (time since DefiLlama listing (a floor on true age)). Most failures happen young, so time survived is real signal.
Deployed on 1 chain (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Median 64 ms to first byte from the live interface, our own probe, slowest sample discarded, single location. Compared only within this category.
Security audits: No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Anyone putting size into it: it holds funds in smart contracts with no published audit. Fine to experiment with, not to trust with a position you cannot afford to lose.
PumpSwap
$337.6M in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Live 1.4 yr (time since DefiLlama listing (a floor on true age)). Most failures happen young, so time survived is real signal.
Deployed on 1 chain (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Median 58 ms to first byte from the live interface, our own probe, slowest sample discarded, single location. Compared only within this category.
Security audits: No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Anyone putting size into it: it holds funds in smart contracts with no published audit. Fine to experiment with, not to trust with a position you cannot afford to lose.
Orca DEX
$262.4M in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
No documented launch or listing date to measure age from.
Deployed on 2 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Median 119 ms to first byte from the live interface, our own probe, slowest sample discarded, single location. Compared only within this category.
Security audits: No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Anyone putting size into it: it holds funds in smart contracts with no published audit. Fine to experiment with, not to trust with a position you cannot afford to lose.
$148.9M in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Live 1.5 yr (time since DefiLlama listing (a floor on true age)). Most failures happen young, so time survived is real signal.
Deployed on 1 chain (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Median 22 ms to first byte from the live interface, our own probe, slowest sample discarded, single location. Compared only within this category.
Security audits: No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Anyone putting size into it: it holds funds in smart contracts with no published audit. Fine to experiment with, not to trust with a position you cannot afford to lose.
$195.6M in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Live 2.4 yr (time since DefiLlama listing (a floor on true age)). Most failures happen young, so time survived is real signal.
Deployed on 1 chain (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Median 1031 ms to first byte from the live interface, our own probe, slowest sample discarded, single location. Compared only within this category.
Security audits: No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Anyone putting size into it: it holds funds in smart contracts with no published audit. Fine to experiment with, not to trust with a position you cannot afford to lose.
$188.1M in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Live 56 days (time since DefiLlama listing (a floor on true age)). Most failures happen young, so time survived is real signal.
Deployed on 1 chain (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
Our probe could not reach it (our own probe failed: ERR_INVALID_URL). Measured from one location, so it may be a block on us — but it is what we saw.
Security audits: No published audits on DefiLlama. Not proof of insecurity, but an unaudited contract holding funds is a red flag.
Anyone putting size into it: it holds funds in smart contracts with no published audit. Fine to experiment with, not to trust with a position you cannot afford to lose.
Who we left out, and why
We looked at 15, ranked 15.
Head to head
How to choose decentralized exchanges
On-chain spot swaps (AMMs) — and the honest truth is that no single ranking fits everyone. Our scores tell you what is best-evidenced on public data: tvl and audit coverage (defillama). Use them as a shortlist, not a verdict.
Start at the top of the table, then open the full breakdown for any service you are considering. Read the coverage figure beside its score — a high number on thin coverage is a narrower claim than the same score fully measured. Check the “where we docked points” and “who it’s not for” notes on each card; the service that scores highest overall is not always the one that fits your specific need. And remember what these scores deliberately leave out — fees and support quality — which you should weigh yourself before committing.
Decentralized exchanges ratings — FAQ
How are decentralized exchanges ranked on this page?+
Each service is scored 0–10 from public data — tvl and audit coverage (defillama) — weighted for what matters in this category, plus our own latency and status checks. 15 of 15 are ranked; the rest we could not measure enough to place fairly. Every figure is dated and links to its source.
What is the best decentralized exchange?+
On the data we could measure, Uniswap V3 scores highest at 8.95/10, ahead of Curve DEX (8.94/10). "Best" here means best-evidenced, not most advertised — open each service below for the full breakdown and decide what fits your needs.
Why isn’t the biggest name at the top?+
Size is not a criterion. A large service that publishes no audits or status page cannot demonstrate its safety from the outside, so it scores below a smaller one that can — even if it is perfectly sound. We rate what is verifiable, not what is famous.
What does the "% measured" figure under a score mean?+
It is the share of this category's criteria weight we could actually fill for that service. Anything we could not measure is marked n/a and its weight is redistributed across the rest — never counted as zero — so the percentage tells you how complete the verdict is.
Do you earn money from these rankings?+
No. There are no affiliate links, no paid placements and no sponsored entries anywhere in the ratings section. That is what lets this list put a smaller, audited service above a bigger, opaque one.
No affiliate links, paid placements or ads anywhere on this site. How this is funded · Methodology