dYdX Tax Software Compared
Based on perpetuals/derivatives support and user feedback from forums.
Koinly
Best for dYdX- ✓ Better perpetuals/derivatives support — handles futures trading with margin calculations
- ✓ 900+ integrations — more platforms if you trade across multiple exchanges
- ✓ dYdX API integration — direct import of trading history
- ✓ Section 1256 support — can categorize contracts for 60/40 treatment if applicable
See pricing — free preview available.
Try Koinly →Alternative: CoinLedger
- ✓ Clean interface, beginner-friendly
- ✓ Good for simpler portfolios with spot trading
- − Less robust perpetuals/derivatives support compared to Koinly
- − May require more manual adjustments for complex futures trades
See pricing — use code CRYPTOTAX10 for 10% off.
Try CoinLedger →Perpetual futures tax reporting is complex — manual review and professional guidance recommended.
dYdX Tax Issues to Know
DYDX Token Migration (Dec 2024)
The DYDX token migrated from Ethereum (ethDYDX) to the native dYdX Chain at a 1:1 ratio. Approximately 90% of tokens migrated before the bridge closed in mid-2025. Kraken and other exchanges handled this automatically. This is generally treated as a non-taxable event (same asset, different chain), but document the migration for your records.
Perpetual Futures Tax Treatment
This is the complex part. Perpetual futures can potentially be treated as:
- Section 1256 contracts: 60% long-term / 40% short-term gains regardless of holding period
- Ordinary income: Taxed at regular income rates
- Capital gains: Standard short/long-term treatment
The IRS hasn't issued specific guidance on crypto perpetuals. Treatment may depend on the contract structure and your trading pattern. This is an area where professional tax advice is strongly recommended.
DYDX Staking Rewards
Staking DYDX tokens earns rewards that are taxable as ordinary income when received (IRS Rev. Rul. 2023-14). The fair market value at receipt becomes your cost basis. Track the date and value of each reward.
US Regulatory Status
dYdX perpetuals are not currently available to US residents due to regulatory restrictions. If you have historical trading activity from before geo-blocking, you still need to report it. The platform's decentralized nature doesn't exempt you from tax obligations.
November 2025: Fee Buyback Program
As of November 2025, 75% of protocol fees are used for DYDX token buybacks. This doesn't directly impact your taxes, but may affect token value. Any tokens received from staking or rewards during buyback periods are still taxable income.
FAQ
How do I report dYdX perpetual futures on my taxes?
dYdX perpetual futures may be treated as Section 1256 contracts (60% long-term, 40% short-term gains) or as ordinary income, depending on their structure and your circumstances. The IRS hasn't issued specific guidance on crypto perpetuals — consult a crypto-specialized tax professional.
Is the DYDX token migration from Ethereum to dYdX Chain taxable?
The 1:1 migration from ethDYDX to native DYDX is generally considered a non-taxable event since it's the same asset on a different chain. However, tax treatment can vary by jurisdiction — document everything and consult a professional.
Are DYDX staking rewards taxable?
Yes. DYDX staking rewards are taxable as ordinary income at fair market value when received (IRS Rev. Rul. 2023-14). This becomes your cost basis for future sales.
Can US residents use dYdX?
As of 2026, dYdX perpetuals are not available to US residents due to regulatory restrictions. US users may have historical activity from before geo-blocking was implemented that still needs to be reported.
Sources
- Kraken: DYDX Token Migration Guide
- dYdX Documentation
- Koinly: dYdX Integration
- IRS Rev. Rul. 2023-14: Staking Rewards
Last updated: February 2026