Perp DEX stats: volume, open interest, market share
49 perp DEXs: $28.36B traded in 24 hours, $20.10B open interest, as of 9 Nov 2026 14:49 UTC.
DEX volume 24h$28.36B+16% vs 7d avg
DEX open interest$20.10B−2.8% 24h · 47 DEXs
Active DEXs4846 with volume · 47 with OI
Largest DEXHyperliquid27% of DEX volume
DEX volume / OI1.4xmedian DEX 2.6x
Total$28.36B
Table
| Day | Hyperliquid + HIP-3 | Variational Omni | Aster | edgeX | Lighter | Pacifica | Extended | GRVT | Other | Total |
|---|---|---|---|---|---|---|---|---|---|---|
| Nov 9 14:49, live | $12.24B | $1.47B | $2.16B | $808.9M | $2.65B | $788.8M | $388.1M | $608.4M | $7.25B | $28.36B |
| Nov 8, 2026 | $5.66B | $765.5M | $1.06B | $558.8M | $1.48B | $373.7M | $140.4M | $652.2M | $3.80B | $14.48B |
| Nov 7, 2026 | $2.06B | $554.9M | $353.0M | $169.6M | $970.5M | $288.1M | $74.5M | $548.7M | $2.81B | $7.83B |
| Nov 6, 2026 | $10.65B | $1.86B | $1.86B | $514.1M | $2.17B | $947.2M | $455.1M | $437.4M | $6.05B | $24.95B |
| Nov 5, 2026 | $18.51B | $2.69B | $2.59B | $902.0M | $3.38B | $1.07B | $568.8M | $547.5M | $8.42B | $38.67B |
| Nov 4, 2026 | $17.57B | $3.36B | $2.66B | $802.1M | $3.10B | $953.9M | $523.1M | $568.2M | $8.39B | $37.93B |
| Nov 3, 2026 | $8.41B | $2.16B | $1.40B | $373.5M | $1.98B | $786.1M | $484.5M | $448.4M | $5.71B | $21.76B |
| Nov 2, 2026 | $10.90B | $2.27B | $1.73B | $477.8M | $2.48B | $852.6M | $615.8M | $505.6M | $6.39B | $26.23B |
| Nov 1, 2026 | $2.91B | $672.3M | $541.0M | $220.2M | $1.04B | $349.9M | $205.9M | $544.4M | $2.97B | $9.45B |
| Oct 31, 2026 | $2.70B | $547.4M | $463.8M | $195.1M | $984.8M | $347.2M | $179.3M | $454.8M | $3.00B | $8.87B |
| Oct 30, 2026 | $14.02B | $2.49B | $2.33B | $922.9M | $2.38B | $930.0M | $737.5M | $392.5M | $7.74B | $31.95B |
| Oct 29, 2026 | $17.76B | $2.65B | $2.62B | $1.03B | $3.06B | $999.5M | $969.6M | $634.5M | $7.88B | $37.60B |
| Oct 28, 2026 | $8.72B | $2.99B | $1.61B | $447.8M | $1.76B | $808.3M | $603.7M | $541.3M | $6.02B | $23.51B |
| Oct 27, 2026 | $6.59B | $2.40B | $1.37B | $393.5M | $1.80B | $778.5M | $533.5M | $493.1M | $5.13B | $19.50B |
| Oct 26, 2026 | $8.13B | $2.65B | $1.62B | $471.2M | $2.03B | $804.4M | $537.6M | $466.9M | $5.87B | $22.57B |
| Oct 25, 2026 | $3.82B | $787.8M | $713.3M | $286.2M | $1.18B | $409.4M | $196.7M | $543.5M | $3.04B | $10.97B |
| Oct 24, 2026 | $5.27B | $769.5M | $1.05B | $470.8M | $1.49B | $518.4M | $241.0M | $479.6M | $3.53B | $13.81B |
| Oct 23, 2026 | $7.43B | $2.38B | $1.72B | $463.5M | $1.56B | $873.9M | $541.5M | $536.7M | $4.89B | $20.39B |
| Oct 22, 2026 | $10.53B | $2.59B | $1.89B | $799.6M | $2.34B | $848.4M | $478.2M | $478.8M | $5.54B | $25.50B |
| Oct 21, 2026 | $8.88B | $3.57B | $1.74B | $692.0M | $1.90B | $784.5M | $560.6M | $508.5M | $5.89B | $24.53B |
| Oct 20, 2026 | $9.38B | $3.37B | $1.67B | $676.3M | $2.27B | $886.4M | $571.1M | $506.9M | $5.52B | $24.85B |
| Oct 19, 2026 | $7.75B | $3.02B | $1.42B | $646.5M | $1.98B | $822.0M | $501.2M | $428.4M | $5.42B | $22.00B |
| Oct 18, 2026 | $5.66B | $1.02B | $951.1M | $548.0M | $1.68B | $469.1M | $248.6M | $502.5M | $3.56B | $14.63B |
| Oct 17, 2026 | $3.31B | $767.7M | $623.7M | $315.8M | $972.2M | $368.3M | $202.9M | $552.7M | $2.94B | $10.06B |
| Oct 16, 2026 | $9.33B | $3.20B | $1.54B | $746.5M | $2.00B | $787.4M | $556.4M | $467.7M | $5.40B | $24.04B |
| Oct 15, 2026 | $13.78B | $3.13B | $2.62B | $1.31B | $2.12B | $989.9M | $560.9M | $477.9M | $6.46B | $31.46B |
| Oct 14, 2026 | $10.43B | $3.90B | $2.13B | $1.03B | $2.05B | $981.3M | $553.1M | $524.5M | $5.92B | $27.52B |
| Oct 13, 2026 | $9.38B | $3.46B | $2.13B | $851.5M | $1.78B | $885.9M | $528.6M | $434.2M | $5.56B | $25.02B |
| Oct 12, 2026 | $8.73B | $3.58B | $2.03B | $766.9M | $1.68B | $731.8M | $514.2M | $565.4M | $6.73B | $25.33B |
| Oct 11, 2026 | $4.11B | $1.20B | $886.6M | $370.8M | $1.13B | $309.0M | $231.4M | $592.4M | $3.29B | $12.13B |
| Oct 10, 2026 | $3.05B | $925.9M | $573.8M | $241.9M | $996.3M | $247.5M | $203.7M | $523.0M | $3.08B | $9.84B |
Perp DEX vaults
$1.17B24 protocol-run pools · TVL, daily, last 30 daysTotal$1.17B
Table
| Exchange | Pool | TVL | APR | 30d | Net flow 7d | Net flow 30d |
|---|---|---|---|---|---|---|
| Jupiter Perps | JLP | $767.2M | +10.8% | −11.46% | −$4.19M | −$26.33M |
| Hyperliquid | HLP | $149.3M | +25.0% | +1.40% | −$7.98M | −$34.07M |
| Lighter | LLP | $98.8M | +13.1% | +0.75% | +$2.62M | +$15.15M |
| Extended | Extended Vault | $52.2M | +8.3% | +0.36% | −$4.93M | −$12.52M |
| GMX | GLV ETH-USDC | $14.2M | +15.4% | −6.44% | +$199.5K | +$651.8K |
| TxFlow | Liquidity Provider | $13.7M | +23.0% | +0.58%18d | +$298.8K | +$4.82M18d |
| GMX | GLV WBTC-USDC | $12.4M | +6.6% | −4.02% | +$92.3K | +$448.9K |
| GRVT | GLP | $11.4M | — | +0.84% | −$67.3K | −$1.18M |
| Avantis | avUSDC | $9.7M | +28.1% | +1.91% | −$170.0K | −$127.3K |
| Nado | NLP | $9.6M | — | +1.56% | +$287.2K | +$1.70M |
| Aftermath Perps | afLP | $6.6M | — | +1.97% | +$26.5K | +$1.81M |
| Orderly | OmniVault | $5.7M | +14.6% | +1.27% | −$7,700 | −$217.4K |
| Aster | ALP | $5.3M | — | −2.35% | −$11.8K | −$116.2K |
| gTrade (Gains Network) | gUSDC | $2.6M | — | +3.02% | −$152.6K | −$1.68M |
| Paradex | GigaVTF | $2.4M | +22.6% | +1.69% | +$11.7K | −$246.5K |
| dYdX | MegaVault | $1.9M | — | +0.55% | −$9,397 | +$153.8K |
| Lighter RH | LLP | $1.8M | +161.5% | +12.55% | −$308.3K | −$387.0K |
| StandX | SLP | $1.2M | — | −0.45% | −$51.1K | −$20.23M |
| AZverse | Community Liquidity Vault | $1.1M | −1.3% | −0.08%16d | $0 | −$63.8K16d |
| gTrade (Gains Network) | gUSDC | $787K | — | +0.55% | −$28.8K | −$45.0K |
| gTrade (Gains Network) | gETH | $770K | — | +0.15% | −$65.2K | −$129.8K |
| GMX | GLV AVAX-USDC | $605K | +5.2% | −5.32% | +$1,768 | −$105.8K |
| Bullet | BLP | $299K | — | +1.03%16d | −$88.9K | −$118.8K16d |
| GMX | GLV USDM | $212K | +0.1% | −0.01% | −$16 | −$311.5K |
Jupiter Perps
Hyperliquid
Lighter
Extended
GMX
TxFlow
GRVT
Avantis
Nado
Aftermath Perps
Orderly
Aster
gTrade (Gains Network)
Paradex
dYdX
Lighter RH
StandX
BulletPerp DEX volume by asset class
RWA 30.7%daily, last 90 daysTable, every 7th day
| Day | Crypto | Stocks | Commodities | FX | Indices | Pre-IPO | Other RWA | Total |
|---|---|---|---|---|---|---|---|---|
| Nov 8, 2026 | $10.02B | $1.43B | $469.2M | $33.4M | $320.7M | $99.4M | $323.0M | $12.70B |
| Nov 1, 2026 | $7.07B | $918.7M | $336.8M | $7.7M | $137.4M | $99.5M | $2.8M | $8.58B |
| Oct 25, 2026 | $8.16B | $913.4M | $555.2M | $10.7M | $243.4M | $82.6M | $22.7M | $9.99B |
| Oct 18, 2026 | $11.55B | $1.40B | $393.8M | $14.1M | $461.6M | $76.2M | $37.7M | $13.94B |
| Oct 11, 2026 | $10.34B | $832.4M | $497.3M | $7.6M | $180.1M | $93.1M | $7.8M | $11.96B |
| Oct 4, 2026 | $8.64B | $718.6M | $503.1M | $17.1M | $196.2M | $80.5M | $8.7M | $10.16B |
| Sep 27, 2026 | $10.98B | $833.1M | $495.6M | $10.3M | $316.7M | $49.9M | $6.5M | $12.69B |
| Sep 20, 2026 | $13.41B | $879.6M | $889.2M | $30.1M | $257.2M | $49.1M | $3.9M | $15.52B |
| Sep 13, 2026 | $9.20B | $1.09B | $815.3M | $3.1M | $360.6M | $34.2M | $10.0M | $11.51B |
| Sep 6, 2026 | $10.71B | $624.9M | $815.4M | $12.2M | $152.4M | $25.7M | $4.7M | $12.35B |
| Aug 30, 2026 | $12.73B | $785.1M | $530.9M | $3.0M | $202.3M | $50.8M | $2.6M | $14.30B |
| Aug 23, 2026 | $15.72B | $733.1M | $268.0M | $23.9M | $206.0M | $1.2M | $3.9M | $16.96B |
| Aug 16, 2026 | $4.70B | $438.7M | $228.4M | $2.7M | $96.1M | $1.8M | $3.9M | $5.47B |
Perp DEX open interest by asset class
now| Asset class | Open interest | Vol 24h | DEXs |
|---|---|---|---|
| Crypto | $13.56B | $18.73B | 47 |
| Stocks | $3.40B | $5.67B | 38 |
| Commodities | $1.57B | $1.79B | 36 |
| Indices | $993.1M | $1.56B | 22 |
| Pre-IPO | $260.8M | $106.2M | 21 |
| Other RWA | $144.4M | $352.8M | 14 |
| FX | $133.5M | $48.6M | 16 |
| Not mapped | $31.0M | $104.5M | 8 |
Perp DEXs ranked by 24-hour volume
49 DEXs| # | Exchange | Vol 24h | Share | vs 7d avg | OI | OI 24h | OI 7d | Vol / OI | Markets | Volume 30d |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hyperliquid | $7.57B | 26.7% | +28.1% | $9.49B | −7.2% | −12.2% | 0.8x | 179 | |
| 2 | tradeXYZ | $4.60B | 16.2% | +1.4% | $4.36B | +1.8% | +6.1% | 1.1x | 121 | |
| 3 | Lighter | $2.65B | 9.3% | +19.0% | $551.4M | +8.3% | +4.7% | 4.8x | 202 | |
| 4 | Aster | $2.16B | 7.6% | +29.9% | $1.39B | +0.5% | −1.9% | 1.6x | 596 | |
| 5 | Kalshi | $1.50B | 5.3% | +21.1% | $67.8M | −15.9% | +0.6% | 22.1x | 86 | |
| 6 | Variational Omni | $1.47B | 5.2% | −24.6% | $841.2M | −1.2% | −6.6% | 1.8x | 587 | |
| 7 | SunX | $836.9M | 3.0% | +146.6% | $6.2M | +4.8% | +5.7% | 135.8x | 302 | |
| 8 | edgeX | $808.9M | 2.9% | +49.1% | $300.4M | −1.7% | +18.9% | 2.7x | 156 | |
| 9 | Pacifica | $788.8M | 2.8% | +4.8% | $111.8M | −1.2% | +0.8% | 7.1x | 78 | |
| 10 | Lighter RH | $747.9M | 2.6% | +17.7% | $196.1M | +1.5% | +4.2% | 3.8x | 71 | |
| 11 | GRVT | $608.4M | 2.1% | +14.9% | $389.2M | −3.1% | −5.8% | 1.6x | 184 | |
| 12 | AZverse | $547.3M | 1.9% | +11.4% | $72.3M | +4.7% | +301.3% | 7.6x | 140 | |
| 13 | Jupiter Perps | $478.2M | 1.7% | +86.9% | — | — | — | — | 3 | |
| 14 | Nado | $431.7M | 1.5% | +27.0% | $79.7M | −5.8% | −2.3% | 5.4x | 73 | |
| 15 | QFEX | $408.7M | 1.4% | −1.0% | $358.9M | +0.1% | −3.5% | 1.1x | 237 | |
| 16 | Extended | $388.1M | 1.4% | −5.1% | $140.0M | −8.3% | −19.2% | 2.8x | 302 | |
| 17 | Ondo Perps | $365.6M | 1.3% | +6.7% | $80.2M | +2.9% | — | 4.6x | 77 | |
| 18 | Arcus | $315.2M | 1.1% | +5.3% | $106.4M | −3.3% | −10.3% | 3.0x | 74 | |
| 19 | Popdex | $247.7M | 0.9% | +22.6% | $93.8M | −0.6% | +25.5% | 2.6x | 66 | |
| 20 | ApeX Omni | $233.8M | 0.8% | −21.5% | $139.0M | −2.9% | −3.3% | 1.7x | 128 |
tradeXYZ
Kalshi
Variational Omni
SunX
edgeX
Pacifica
QFEX
Ondo Perps
Arcus
Popdex
ApeX OmniAll-in cost distribution at $100k
taker fee + slippage to open and close, yesterday's order books, updated daily| Exchange | Markets | RWA | Taker | Cost $100k | RWA vol | RWA OI | RWA % | Vol 24h | OI | KYC |
|---|---|---|---|---|---|---|---|---|---|---|
| Hyperliquid | 179 | — | 4.5 bp | 9.4 bp | — | — | 0% | $7.57B | $9.49B | No |
| tradeXYZ | 121 | 121 | 0.9 bp | 6.0 bp | $4.60B | $4.36B | 100% | $4.60B | $4.36B | No |
| Lighter | 202 | 86 | 0 bp | 1.2 bp | $476.1M | $145.6M | 18% | $2.65B | $551.4M | No |
| Aster | 596 | 146 | 4 bp | 8.1 bp | $555.6M | $280.6M | 26% | $2.16B | $1.39B | No |
| Kalshi | 86 | 67 | 4 bp | 11.6 bp | $498.4M | $33.3M | 33% | $1.50B | $67.8M | Yes |
| Variational Omni | 587 | 157 | 0 bp | 1.1 bp | $744.9M | $347.3M | 51% | $1.47B | $841.2M | No |
| SunX | 302 | 159 | 4 bp | 86.9 bp | $559.3M | $337K | 67% | $836.9M | $6.2M | No |
| edgeX | 156 | 83 | 4.5 bp | 10.4 bp | $90.0M | $29.9M | 11% | $808.9M | $300.4M | No |
| Pacifica | 78 | 24 | 4 bp | 8.4 bp | $7.3M | $7.0M | 0.9% | $788.8M | $111.8M | No |
| Lighter RH | 71 | 48 | 0 bp | 2.4 bp | $527.4M | $151.0M | 71% | $747.9M | $196.1M | No |
| GRVT | 184 | 106 | 4.5 bp | 9.9 bp | $34.1M | $7.3M | 5.6% | $608.4M | $389.2M | No |
| Nado | 73 | 30 | 3.5 bp | 7.1 bp | $11.4M | $11.4M | 2.6% | $431.7M | $79.7M | No |
| QFEX | 237 | 225 | 5 bp | 24.0 bp | $305.7M | $328.5M | 75% | $408.7M | $358.9M | No |
| Extended | 302 | 101 | 2.5 bp | 7.1 bp | $153.7M | $40.8M | 40% | $388.1M | $140.0M | No |
| Ondo Perps | 77 | 65 | 2.5 bp | 9.1 bp | $324.8M | $70.8M | 89% | $365.6M | $80.2M | No |
| Arcus | 74 | 41 | 2.25 bp | 5.4 bp | $227.7M | $75.6M | 72% | $315.2M | $106.4M | No |
| Popdex | 66 | 35 | 3.2 bp | 6.8 bp | $31.4M | $11.0M | 13% | $247.7M | $93.8M | No |
| ApeX Omni | 128 | 41 | 5 bp | 10.7 bp | $7.3M | $5.1M | 3.1% | $233.8M | $139.0M | No |
| TxFlow | 241 | 105 | 4.5 bp | 9.0 bp | $20.7M | $20.4M | 12% | $168.2M | $90.0M | No |
| RISEx | 53 | 28 | 3 bp | 6.4 bp | $39.0M | $34.0M | 28% | $140.5M | $76.8M | No |
| SoDEX | 98 | 44 | 4 bp | 8.4 bp | $3.4M | $6.5M | 2.5% | $136.8M | $312.3M | No |
| Polymarket Perps | 90 | 49 | 4 bp | 11.4 bp | $46.5M | $86.8M | 59% | $78.2M | $117.8M | No |
| Bulk | 19 | 7 | 3.5 bp | 7.3 bp | $14.4M | $1.6M | 23% | $63.0M | $15.7M | No |
| Entropy | 14 | 12 | 0.9 bp | 182 bp | $54.4M | $166.3M | 98% | $55.6M | $174.3M | No |
| Phoenix | 104 | 50 | 3.5 bp | 12.0 bp | $2.3M | $5.8M | 8.0% | $29.2M | $21.3M | No |
| dYdX | 57 | — | 5 bp | 21.4 bp | — | — | 0% | $28.0M | $40.9M | No |
| Hibachi | 15 | 7 | 4.5 bp | 11.2 bp | $11.1M | $155K | 54% | $20.5M | $1.4M | No |
| gTrade (Gains Network) | 131 | 32 | 5 bp | 8.3 bp | $5.8M | $2.6M | 44% | $13.4M | $3.5M | No |
| Bullet | 30 | 14 | 0 bp | 9.7 bp | $784K | $1.2M | 6.3% | $12.4M | $4.4M | No |
| Aftermath Perps | 65 | 32 | 4.5 bp | 45.4 bp | $3.5M | $119K | 39% | $8.9M | $646K | No |
| Paragon | 33 | 32 | 0.9 bp | 177 bp | $7.1M | $16.0M | 98% | $7.2M | $16.1M | No |
| Paradex | 63 | 20 | 2 bp | 6.5 bp | $88K | $855K | 1.3% | $7.0M | $25.1M | No |
| N1 | 40 | — | 3.5 bp | 19.4 bp | — | — | 0% | $3.9M | $899K | No |
| Aevo | 88 | 34 | 8 bp | 28.5 bp | $476 | $561K | <0.1% | $2.8M | $10.4M | No |
| StandX | 13 | 6 | 4 bp | 213 bp | $16K | $380K | 49% | $33K | $2.0M | No |
BTC funding across perp DEXs
+0.0099%now, /8hWeighted by open interestMedian DEXHighest to lowest DEX
Table
| Day | Weighted | Median | Highest | Lowest |
|---|---|---|---|---|
| Nov 8, 2026 | +0.0091% | +0.0100% | +0.0244% | −0.0077% |
| Nov 7, 2026 | +0.0089% | +0.0100% | +0.0192% | −0.0089% |
| Nov 6, 2026 | +0.0098% | +0.0100% | +0.0190% | +0.0039% |
| Nov 5, 2026 | +0.0097% | +0.0096% | +0.0218% | +0.0039% |
| Nov 4, 2026 | +0.0071% | +0.0090% | +0.0213% | −0.0028% |
| Nov 3, 2026 | +0.0097% | +0.0100% | +0.0196% | −0.0069% |
| Nov 2, 2026 | +0.0098% | +0.0100% | +0.0207% | −0.0225% |
| Nov 1, 2026 | +0.0098% | +0.0100% | +0.0117% | −0.0249% |
| Oct 31, 2026 | +0.0099% | +0.0100% | +0.0206% | −0.0411% |
| Oct 30, 2026 | +0.0081% | +0.0089% | +0.0191% | −0.0222% |
| Oct 29, 2026 | +0.0095% | +0.0096% | +0.0173% | −0.0034% |
| Oct 28, 2026 | +0.0098% | +0.0097% | +0.0238% | −0.0008% |
| Oct 27, 2026 | +0.0099% | +0.0100% | +0.0215% | −0.0062% |
| Oct 26, 2026 | +0.0088% | +0.0094% | +0.0307% | −0.0095% |
| Oct 25, 2026 | +0.0084% | +0.0092% | +0.0255% | −0.0128% |
| Oct 24, 2026 | +0.0095% | +0.0095% | +0.0253% | −0.0179% |
| Oct 23, 2026 | +0.0098% | +0.0098% | +0.0262% | −0.0053% |
| Oct 22, 2026 | +0.0071% | +0.0062% | +0.0138% | −0.0097% |
| Oct 21, 2026 | +0.0066% | +0.0047% | +0.0140% | −0.0210% |
| Oct 20, 2026 | +0.0094% | +0.0087% | +0.0175% | −0.0278% |
| Oct 19, 2026 | +0.0094% | +0.0096% | +0.0193% | −0.0209% |
| Oct 18, 2026 | +0.0055% | +0.0093% | +0.0191% | −0.0157% |
| Oct 17, 2026 | +0.0082% | +0.0086% | +0.0194% | −0.0163% |
| Oct 16, 2026 | +0.0092% | +0.0087% | +0.0257% | −0.0147% |
| Oct 15, 2026 | +0.0065% | +0.0069% | +0.0242% | −0.0192% |
| Oct 14, 2026 | +0.0074% | +0.0070% | +0.0140% | −0.0023% |
| Oct 13, 2026 | +0.0056% | +0.0048% | +0.0194% | −0.0031% |
| Oct 12, 2026 | +0.0062% | +0.0058% | +0.0193% | −0.0027% |
| Oct 11, 2026 | −0.0004% | +0.0035% | +0.0206% | −0.0087% |
| Oct 10, 2026 | +0.0026% | +0.0032% | +0.0174% | −0.0074% |
RISExShare of perp DEX markets where longs pay funding
67.2%of liquid DEX markets on Nov 8Longs paid
Table
| Day | Longs paid |
|---|---|
| Nov 8, 2026 | 67.2% |
| Nov 7, 2026 | 78.4% |
| Nov 6, 2026 | 83.6% |
| Nov 5, 2026 | 81.3% |
| Nov 4, 2026 | 88.3% |
| Nov 3, 2026 | 89.5% |
| Nov 2, 2026 | 86.3% |
| Nov 1, 2026 | 90.3% |
| Oct 31, 2026 | 82.8% |
| Oct 30, 2026 | 80.0% |
| Oct 29, 2026 | 84.2% |
| Oct 28, 2026 | 86.2% |
| Oct 27, 2026 | 87.1% |
| Oct 26, 2026 | 80.7% |
| Oct 25, 2026 | 88.5% |
| Oct 24, 2026 | 72.2% |
| Oct 23, 2026 | 84.9% |
| Oct 22, 2026 | 82.0% |
| Oct 21, 2026 | 80.3% |
| Oct 20, 2026 | 86.3% |
| Oct 19, 2026 | 85.4% |
| Oct 18, 2026 | 78.8% |
| Oct 17, 2026 | 71.8% |
| Oct 16, 2026 | 87.3% |
| Oct 15, 2026 | 85.0% |
| Oct 14, 2026 | 86.0% |
| Oct 13, 2026 | 83.4% |
| Oct 12, 2026 | 85.0% |
| Oct 11, 2026 | 87.6% |
| Oct 10, 2026 | 88.6% |
Cost to trade BTC on perp DEXs at $10k
open and close, cheapest first- Lighter0.5 bp$0.54
- Variational Omni1.0 bp$1.04
- Lighter RH1.4 bp$1.43
- Bullet2.4 bp$2.40
- Arcus4.6 bp$4.63
- Extended5.1 bp$5.13
- Paradex6.3 bp$6.31
- Popdex6.7 bp$6.66
- RISEx6.7 bp$6.68
- Ondo Perps6.8 bp$6.80
- Bulk7.0 bp$7.00
- Nado7.1 bp$7.13
Bulk20 more with a figure → No data: AZverse, GMX, Orderly, Vest Markets, Avantis, Perpl, Reya, Katana Perps, Jupiter Perps.
Open interest moves on perp DEXs, 24h
since 15:00 UTC yesterday| Rising | OI now | 24h ▾ | Markets |
|---|---|---|---|
| NAS100RWA | $139.4M | +154.5% | 8 |
| NVDARWA | $246.6M | +89.8% | 24 |
| AVAX | $40.5M | +87.8% | 11 |
| AMDRWA | $41.1M | +47.9% | 14 |
| NATGASRWA | $53.3M | +37.0% | 14 |
| UNITREERWA | $39.0M | +15.1% | 10 |
| GBPRWA | $13.9M | +9.4% | 3 |
| ETHFI | $11.6M | +9.2% | 4 |
| Falling | OI now | 24h ▴ | Markets |
|---|---|---|---|
| XRP | $188.1M | −23.8% | 23 |
| OPENAIRWA | $16.0M | −19.1% | 8 |
| DOGE | $63.1M | −18.8% | 17 |
| CASHCAT | $16.4M | −17.7% | 8 |
| PUMP | $72.1M | −15.9% | 14 |
| ETH | $2.70B | −15.2% | 40 |
| ZEC | $633.9M | −14.0% | 28 |
| ZRO | $56.3M | −13.2% | 11 |
Questions about perp DEX volume, open interest and trading cost
Which perp DEX is the largest?
Hyperliquid, with $7.57B of 24-hour volume as of 9 Nov 2026, 14:49 UTC: 27% of the $28.36B traded on perp DEXs. It also holds the most open interest, $9.49B.
How much volume do perp DEXs trade?
$28.36B in the 24 hours to 9 Nov 2026, 14:49 UTC, on 46 of 49 perp DEXs, +16% against their 7-day average. The three largest trade 52% of it.
How much open interest is on perp DEXs?
$20.10B on the 47 perp DEXs that report it, as of 9 Nov 2026, 14:49 UTC, −2.8% in 24 hours. As each DEX reports it.
Which perp DEXs are growing?
By 24-hour volume against their own recent average, as of 9 Nov 2026, 14:49 UTC: SunX (+147%), Jupiter Perps (+87%) and edgeX (+49%). By open interest over 7 days: edgeX (+19%), tradeXYZ (+6%) and Lighter (+5%).
Which perp DEX is cheapest to trade?
Variational Omni: 1.1 bp to open and close $100k, the volume-weighted median of its 570 markets on the median order books of 8 Nov 2026. The median of all 2,155 DEX markets priced at $100k is 56.1 bp, taker fee and slippage included.
Where does the data come from?
Each exchange's public API, read every 10 to 60 seconds. Before 18 Sep 2026: daily volume from the exchanges' own candles and open interest from DefiLlama.
How often is it updated?
Live figures refresh every minute. Hourly points are added on the hour and a day closes at 00:00 UTC.
Why do open interest figures differ between sites?
22 perp DEXs publish longs plus shorts, both sides of every position, about twice the one-side figure the others publish. This page shows every DEX's own figure, as its site does; DefiLlama and other sites that count one side everywhere show about half for those 22.
Is the volume on perp DEXs real?
As of 9 Nov 2026, 14:49 UTC the median perp DEX traded 2.6 times its open interest in 24 hours. The exchanges table marks the 10 of 45 above 5 times and the 6 above 12, where points farming and wash trading push the ratio up.
How is BTC funding across perp DEXs calculated?
From the funding BTC longs paid each day on every DEX's largest BTC market (at least $1M open interest), averaged across DEXs by open interest. Per 8 hours unless changed in Settings.
What is a perp DEX vault?
A pool the exchange runs itself that makes markets, takes over liquidations or stands on the other side of trades, and shares the fees and trading PnL with its depositors. As of 9 Nov 2026, 14:00 UTC the 24 protocol-run pools tracked here hold $1.17B, the largest Jupiter Perps JLP with $767.2M.
How is the vault return here computed?
From the change in the pool's share price over 7 and 30 days, the same way for every pool; for HLP, Extended and dYdX MegaVault, which have no share, from a price built from the pool's PnL over its equity, so deposits do not count as return. No annual figure is derived from it: a month is not a year. The exchange's own APR is shown next to it by its own method, which may leave out traders' PnL or count only fees.