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Machine Brief|

2026 Machine Brief. All rights reserved.

  1. Home
  2. /Best Of
  3. /Best Decentralized Exchanges by Chain

Best Decentralized Exchanges by Chain

The best decentralized exchanges (DEXs) across Ethereum, Solana, BSC, and more. Compare Uniswap, Jupiter, PancakeSwap, and others by liquidity, fees, and features.

Updated February 19, 2026·6 picks reviewed

Decentralized exchanges let you swap tokens without trusting a centralized company with your funds. Your wallet connects directly, you sign the transaction, and the swap happens through smart contracts. No accounts, no KYC, no withdrawal limits. The trade-off is that you need to manage your own wallet security, watch for slippage, and deal with gas fees. Different chains have different dominant DEXs. Ethereum has Uniswap, Solana has Jupiter, BSC has PancakeSwap. The best DEX for you depends on which chain your tokens live on and what features you need.

Quick Comparison

#NameBest ForTop ProTop Con
1UniswapSwapping tokens on Ethereum and EVM L2sLargest DEX by volumeGas fees on Ethereum mainnet
2JupiterAny token swap on SolanaBest execution on SolanaSolana only
3PancakeSwapTrading on BNB Chain with low feesDominant on BNB ChainBSC is more centralized
4RaydiumProviding liquidity and farming on SolanaDeep Solana liquiditySolana only
5Curve FinanceStablecoin swaps and like-asset trades with minimal slippageLowest slippage for stablecoin swapsTerrible UI/UX
61inchGetting the best price across multiple EVM DEXsAggregates all major EVM DEXsAggregation adds complexity

Detailed Reviews

#1

Uniswap

The largest DEX by volume across EVM chains. Uniswap V3 introduced concentrated liquidity and V4 adds hooks for customizable pool logic. Available on Ethereum, Arbitrum, Optimism, Polygon, Base, and more.

Best for: Swapping tokens on Ethereum and EVM L2s

Pros

  • Largest DEX by volume
  • Multi-chain deployment
  • Concentrated liquidity (V3)
  • Most liquid token pairs

Cons

  • Gas fees on Ethereum mainnet
  • Impermanent loss for LPs
  • UNI token utility is limited
#2

Jupiter

The dominant swap aggregator on Solana. Jupiter routes your trade across multiple Solana DEXs to get the best price. Also offers limit orders, DCA, and perpetual futures.

Best for: Any token swap on Solana

Pros

  • Best execution on Solana
  • Aggregates all Solana DEXs
  • Limit orders and DCA
  • Perpetual futures trading

Cons

  • Solana only
  • JUP token still finding its utility
  • Dependent on Solana network stability
#3

PancakeSwap

The biggest DEX on BNB Chain (BSC). PancakeSwap has expanded to Ethereum, Arbitrum, and other chains but BSC is its home turf. Offers trading, farming, lottery, and prediction markets.

Best for: Trading on BNB Chain with low fees

Pros

  • Dominant on BNB Chain
  • Very low fees on BSC
  • Yield farming and lottery
  • Multi-chain expansion

Cons

  • BSC is more centralized
  • Lower liquidity than Uniswap on EVM
  • CAKE tokenomics debates
#4

Raydium

An AMM on Solana that integrates with the Serum/OpenBook order book for hybrid liquidity. Raydium pools often have the deepest liquidity for new Solana tokens, especially memecoins.

Best for: Providing liquidity and farming on Solana

Pros

  • Deep Solana liquidity
  • Hybrid AMM + order book
  • AcceleRaytor launchpad
  • Farm and earn features

Cons

  • Solana only
  • Less aggregation than Jupiter
  • Past exploit concerns
#5

Curve Finance

The stablecoin swap king. Curve is designed for minimal slippage on like-asset swaps (USDC/USDT/DAI, stETH/ETH, etc). The veCRV model drives governance and yield distribution.

Best for: Stablecoin swaps and like-asset trades with minimal slippage

Pros

  • Lowest slippage for stablecoin swaps
  • Deep integration across DeFi
  • veCRV governance model
  • Multi-chain

Cons

  • Terrible UI/UX
  • Complex tokenomics
  • Not ideal for volatile token swaps
#6

1inch

A DEX aggregator on EVM chains that splits your trade across multiple DEXs for the best overall price. The Fusion mode uses limit order-style execution with MEV protection.

Best for: Getting the best price across multiple EVM DEXs

Pros

  • Aggregates all major EVM DEXs
  • Fusion mode for MEV protection
  • Multi-chain support
  • Chi gastoken savings

Cons

  • Aggregation adds complexity
  • UI can be confusing
  • Gas costs for split routes can be higher

Frequently Asked Questions

What is the difference between a DEX and a CEX?
A CEX (centralized exchange like Coinbase or Binance) holds your funds and manages trades on their internal systems. A DEX (decentralized exchange) lets you trade directly from your wallet through smart contracts. DEXs give you full control of your funds but require you to manage your own wallet security.
Are DEXs safe to use?
Established DEXs like Uniswap and Jupiter are well-audited and have handled billions in volume. The main risks are: approving malicious token contracts, swapping into scam tokens, and front-running/MEV. Always verify contract addresses, check token legitimacy, and set reasonable slippage limits.
Why are DEX fees sometimes higher than exchanges?
DEX fees include two components: the swap fee (usually 0.3%) and the blockchain gas fee. On Ethereum mainnet, gas can make small trades expensive. On L2s and Solana, total costs are often lower than centralized exchanges. The swap fee goes to liquidity providers, not a company.

Related Resources

Learn: Decentralized ExchangesGlossary: DEXBest AI Platforms (CEX)Learn: DeFi
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before investing in any AI technology or using any platform. Some links may be affiliate links.