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Centralized vs. Decentralized Futures Exchanges

Perpetual futures were first introduced in crypto by a centralized exchange, BitMEX, back in 2016. Currently, the majority of perpetual futures trading is done in centralized exchanges.
Decentralized futures exchanges are growing in popularity, as unlike centralized futures exchanges, they allow traders to maintain full custody of their assets. As it is permissionless and non-custodial, decentralized futures exchanges also do not require KYC, allowing for a high degree of anonymity. Lastly, decentralized futures exchanges tend to have lower fees due to lower overhead costs.