dYdX Surge Season 11 Snapshot
For February, Surge Season 11 features three core incentives designed to drive trading activity and onboard new users:
- BONK $100,000 P&L-based Trading League, dubbed “BONKuary PnL Open: The Year of the Bull.”
- Zero Maker & Taker Fees on BTC and BONK Perpetuals
- Liquidation Rebates for Liquidated Traders on Non-BTC Pairs
dYdX Surge Season 11 Details
CryptoLearningClub (CLC) is excited to share the details for Season 11 of the dYdX Surge Rewards Program to incentivize sustained and organic trading activity on dYdX.
Season 11 will run from 00:00 UTC on February 1, 2026, through 23:59 UTC on February 28, 2026, and marks the second month under the proposed 6-month Surge renewal beginning in January.
BONK Trading League
For Season 11, traders on dYdX will be able to compete for up to $100,000 in DYDX rewards through a P&L-based trading competition, launched in partnership with BONK.
The competition will run from February 1–28, 2026, and will be branded as “BONKuary PnL Open: The Year of the Bull.” The goal of the competition is to drive retail trading activity, onboard new users to the BONK ecosystem (a dYdX community-approved partner), and further strengthen long-term alignment between the BONK ecosystem and the dYdX protocol.
Competition Overview
- Format: P&L-based Trading League
- Duration: February 1, 2026 – February 28, 2026
- Eligibility:
- Non-API traders
- Traders using the bonk.trade UI powered by dYdX
- Prize Pool: Up to $100,000 in DYDX, distributed to the top 20 traders by P&L
- 1st: $25,000
- 2nd: $15,000
- 3rd: $10,000
- 4th–5th: $5,000 each
- 6th–10th: $4,000 each
- 11th–20th: $2,000 each
In December 2025, the dYdX community approved BONK as an official dYdX integration partner for revenue sharing. BONK is one of the largest retail-driven ecosystems on Solana and has consistently demonstrated its ability to drive meaningful user activity across partner applications. By leveraging a BONK-branded frontend built on dYdX, the partnership creates a direct distribution channel to onboard a large cohort of retail traders to dYdX.
This competition will reward $100,000 in DYDX (526,316 DYDX* calculated using a 30-day TWAP at a $0.19* DYDX token price) from the dYdX Community Treasury to fund a one-month, PnL-based trading competition in partnership with BONK.
*The TWAP and total amount of DYDX will be updated as of the distribution date after the competition has elapsed.
Trade BTC & BONK Perpetuals for Zero Maker and Taker fees on dYdX
In tandem with the BONK Trading League, February incentives provide a 100% fee discount for BONK and BTC perpetual markets.
As approved by the dYdX Community, BTC and BONK perpetuals will be fee-free for all traders throughout February. Other fees, such as gas, bridging, slippage, or third-party fees, remain unchanged, and all future fee discounts remain subject to governance decisions.
Up To $1M Liquidation Rebate Program
The dYdX community has approved extending the Liquidation Rebate Program through February. The Liquidation Rebate Program, launched with a featured leaderboard in December 2025, introduced a gamified incentive layer for perpetual traders who experience losses on dYdX. In February, the program will rebate a portion of trader losses resulting from liquidations on non-BTC perpetual markets. Additional details and historical program performance can be found here.
Eligible traders can now claim their rebates for the period of December 1, 2025 to January 15, 2026.
Discontinued Incentives on Surge Season 11
For Season 11, the 50% rebates on positive trading fees and 100% Fee Discount on SOL-USD market are discontinued.
This season builds on the Surge framework by offering multiple incentive pathways for traders to engage with dYdX throughout February, including competitive trading, fee-based incentives, and downside protection mechanisms.
While the Surge brand and core principles remain familiar, the structure is intentionally more adaptive during this period of iteration, allowing the community to evaluate which mechanisms most effectively attract new traders and retain active participants. CryptoLearningClub, with support from dYdX Labs, will continue to manage reward calculations and submit a detailed distribution proposal at the conclusion of the season.
We’re excited to kick off Season 11 and move forward with the next chapter of Surge.