Perp DEX stats: volume, open interest, market share
46 perp DEXs: $29.78B traded in 24 hours, $21.85B open interest, as of 24 Sep 2026 10:36 UTC.
DEX volume 24h$29.78B+28% vs 7d avg
DEX open interest$21.85B−9.6% 24h · 44 DEXs
Active DEXs4643 with volume · 44 with OI
Largest DEXHyperliquid36% of DEX volume
DEX volume / OI1.4xmedian DEX 2.6x
Perp DEX volume by exchange
$29.78Bdaily volume, last 30 days, and nowTotal$29.78B
Table
| Day | Hyperliquid + HIP-3 | Variational Omni | Aster | edgeX | Lighter | Pacifica | Extended | GRVT | Other | Total |
|---|---|---|---|---|---|---|---|---|---|---|
| Sep 24 10:36, live | $12.93B | $3.82B | $2.35B | $1.75B | $2.03B | $884.6M | $1.03B | $533.8M | $4.45B | $29.78B |
| Sep 23, 2026 | $12.10B | $4.04B | $2.18B | $1.76B | $1.98B | $912.2M | $1.10B | $472.9M | $4.47B | $29.02B |
| Sep 22, 2026 | $9.79B | $3.70B | $1.83B | $1.63B | $1.50B | $956.6M | $548.2M | $512.6M | $4.14B | $24.60B |
| Sep 21, 2026 | $13.73B | $3.75B | $3.38B | $2.62B | $2.09B | $1.02B | $677.1M | $606.3M | $5.59B | $33.46B |
| Sep 20, 2026 | $5.92B | $1.24B | $1.69B | $1.06B | $1.09B | $185.2M | $282.9M | $600.2M | $2.71B | $14.77B |
| Sep 19, 2026 | $4.72B | $1.00B | $1.59B | $987.8M | $942.6M | $353.6M | $306.8M | $527.9M | $2.60B | $13.04B |
| Sep 18, 2026 | $11.08B | $2.81B | $3.36B | $2.03B | $2.08B | $820.2M | $523.3M | $528.3M | $4.35B | $27.57B |
| Sep 17, 2026 | $7.51B | — | $2.03B | $1.08B | $1.23B | $828.8M | $492.7M | $485.1M | $2.61B | $16.26B |
| Sep 16, 2026 | $9.05B | — | $2.19B | $1.53B | $1.71B | $1.02B | $535.3M | $516.5M | $3.45B | $20.00B |
| Sep 15, 2026 | $12.25B | — | $3.49B | $2.02B | $1.77B | $790.2M | $671.9M | $525.1M | $3.38B | $24.88B |
| Sep 14, 2026 | $9.63B | — | $2.69B | $1.46B | $2.03B | $844.1M | $553.0M | $482.6M | $3.15B | $20.84B |
| Sep 13, 2026 | $4.51B | — | $1.29B | $820.2M | $863.3M | $326.1M | $260.0M | $354.1M | $2.10B | $10.53B |
| Sep 12, 2026 | $2.05B | — | $942.8M | $446.1M | $525.7M | $250.1M | $236.1M | $299.0M | $2.04B | $6.80B |
| Sep 11, 2026 | $11.25B | — | $3.17B | $2.50B | $1.89B | $1.04B | $847.6M | $527.2M | $3.20B | $24.42B |
| Sep 10, 2026 | $8.85B | — | $2.12B | $1.31B | $1.35B | $826.4M | $551.3M | $515.9M | $3.07B | $18.59B |
| Sep 9, 2026 | $9.40B | — | $2.00B | $1.26B | $1.46B | $805.6M | $534.8M | $572.8M | $3.12B | $19.14B |
| Sep 8, 2026 | $8.21B | — | $1.81B | $1.12B | $1.17B | $828.9M | $499.0M | $496.2M | $3.18B | $17.31B |
| Sep 7, 2026 | $5.31B | — | $4.57B | $929.6M | $883.5M | $739.0M | $498.4M | $495.4M | $2.52B | $15.95B |
| Sep 6, 2026 | $4.33B | — | $1.72B | $861.2M | $809.7M | $404.0M | $282.3M | $321.2M | $2.62B | $11.35B |
| Sep 5, 2026 | $2.74B | — | $2.03B | $601.3M | $594.8M | $338.4M | $187.5M | $309.9M | $2.16B | $8.96B |
| Sep 4, 2026 | $9.21B | — | $3.43B | $1.45B | $1.40B | $717.6M | $536.3M | $463.0M | $3.49B | $20.70B |
| Sep 3, 2026 | $11.12B | — | $3.04B | $1.74B | $1.65B | $898.6M | $544.3M | $502.2M | $3.89B | $23.37B |
| Sep 2, 2026 | $7.75B | — | $2.57B | $1.24B | $1.16B | $853.3M | $491.5M | $480.6M | $3.28B | $17.81B |
| Sep 1, 2026 | $8.53B | — | $2.17B | $1.23B | $1.79B | $903.9M | $500.6M | $537.8M | $3.34B | $19.00B |
| Aug 31, 2026 | $8.17B | — | $1.77B | $1.08B | $1.49B | $866.3M | $506.6M | $443.9M | $3.45B | $17.76B |
| Aug 30, 2026 | $5.63B | — | $1.39B | $852.2M | $1.30B | $397.1M | $500.7M | $364.8M | $2.72B | $13.14B |
| Aug 29, 2026 | $2.60B | — | $605.9M | $459.2M | $727.7M | $318.1M | $124.8M | $295.6M | $1.84B | $6.97B |
| Aug 28, 2026 | $11.62B | — | $2.59B | $1.76B | $1.47B | $951.1M | $643.1M | $565.7M | $4.05B | $23.67B |
| Aug 27, 2026 | $11.71B | — | $2.03B | $1.63B | $1.51B | $1.06B | $497.6M | $566.3M | $3.75B | $22.77B |
| Aug 26, 2026 | $9.64B | — | $1.61B | $1.21B | $1.30B | $1.04B | $518.5M | $514.4M | $3.65B | $19.47B |
| Aug 25, 2026 | $13.19B | — | $2.56B | $1.70B | $3.09B | $1.30B | $636.1M | $580.6M | $4.44B | $27.51B |
Perp DEX volume by asset class
RWA 16.5%daily, last 90 daysTable, every 7th day
| Day | Crypto | Stocks | Commodities | FX | Indices | Pre-IPO | Other RWA | Total |
|---|---|---|---|---|---|---|---|---|
| Sep 23, 2026 | $24.89B | $2.45B | $1.20B | $27.4M | $781.2M | $36.9M | $67.7M | $29.46B |
| Sep 16, 2026 | $15.71B | $2.09B | $1.31B | $20.2M | $808.3M | $22.3M | $44.6M | $20.00B |
| Sep 9, 2026 | $15.04B | $2.28B | $1.19B | $36.2M | $509.6M | $42.1M | $44.5M | $19.14B |
| Sep 2, 2026 | $13.81B | $2.11B | $1.39B | $17.8M | $436.3M | $29.4M | $14.1M | $17.81B |
| Aug 26, 2026 | $15.37B | $2.81B | $689.3M | $16.3M | $494.9M | $20.0M | $69.6M | $19.47B |
| Aug 19, 2026 | $26.59B | $4.71B | $951.0M | $23.8M | $916.1M | $803K | $52.0M | $33.25B |
| Aug 12, 2026 | $9.09B | $3.04B | $974.9M | $9.4M | $653.0M | $602K | $31.2M | $13.79B |
| Aug 5, 2026 | $10.03B | $4.28B | $1.14B | $10.4M | $1.09B | $434 | $28.1M | $16.58B |
| Jul 29, 2026 | $13.57B | $7.68B | $1.35B | $9.7M | $1.72B | $195 | $100.2M | $24.43B |
| Jul 22, 2026 | $10.85B | $3.72B | $1.08B | $5.6M | $453.8M | $422 | $15.9M | $16.13B |
| Jul 15, 2026 | $11.01B | $3.81B | $909.1M | $20.8M | $633.9M | — | $7.3M | $16.39B |
| Jul 8, 2026 | $11.53B | $3.41B | $1.46B | $14.8M | $1.01B | — | $5.8M | $17.44B |
| Jul 1, 2026 | $14.25B | $2.95B | $630.8M | $11.8M | $766.9M | — | $11.8M | $18.62B |
Perp DEX open interest by asset class
now| Asset class | Open interest | Vol 24h | DEXs |
|---|---|---|---|
| Crypto | $16.70B | $24.94B | 42 |
| Stocks | $2.96B | $2.55B | 34 |
| Commodities | $1.24B | $1.25B | 34 |
| Indices | $700.6M | $907.4M | 18 |
| Other RWA | $93.8M | $58.2M | 12 |
| FX | $90.0M | $31.1M | 16 |
| Pre-IPO | $63.1M | $33.3M | 10 |
| Not mapped | $10.2M | $8.2M | 4 |
Perp DEXs ranked by 24-hour volume
46 DEXs| # | Exchange | Vol 24h | Share | vs 7d avg | OI | OI 24h | OI 7d | Vol / OI | Markets | Volume 30d |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hyperliquid | $10.57B | 35.5% | +43.1% | $12.10B | −14.0% | — | 0.9x | 178 | |
| 2 | Variational Omni | $3.82B | 12.8% | +38.8% | $886.2M | −6.4% | — | 4.3x | 552 | |
| 3 | Aster | $2.35B | 7.9% | +2.7% | $1.40B | −4.0% | — | 1.7x | 584 | |
| 4 | tradeXYZ | $2.31B | 7.8% | +26.1% | $3.86B | −2.2% | — | 0.6x | 109 | |
| 5 | Lighter | $2.03B | 6.8% | +30.1% | $596.6M | −3.9% | — | 3.4x | 193 | |
| 6 | edgeX | $1.75B | 5.9% | +9.6% | $614.0M | −2.5% | — | 2.8x | 177 | |
| 7 | Extended | $1.03B | 3.4% | +83.0% | $190.2M | −5.7% | — | 5.4x | 309 | |
| 8 | Pacifica | $884.6M | 3.0% | +22.0% | $116.8M | +2.2% | — | 7.6x | 78 | |
| 9 | Lighter RH | $565.2M | 1.9% | +22.5% | $212.7M | −0.9% | — | 2.7x | 57 | |
| 10 | GRVT | $533.8M | 1.8% | +0.1% | $461.7M | −3.4% | — | 1.2x | 184 | |
| 11 | Nado | $414.8M | 1.4% | +9.3% | $88.2M | −4.7% | — | 4.7x | 75 | |
| 12 | StandX | $414.2M | 1.4% | +2.1% | $52.3M | −11.3% | — | 7.9x | 13 | |
| 13 | ApeX Omni | $392.0M | 1.3% | +1.2% | $150.2M | −3.3% | — | 2.6x | 125 | |
| 14 | QFEX | $364.3M | 1.2% | +28.0% | $252.5M | +2.3% | — | 1.4x | 196 | |
| 15 | SunX | $361.5M | 1.2% | −5.9% | $5.7M | +3.1% | — | 62.9x | 271 | |
| 16 | SoDEX | $351.9M | 1.2% | +22.7% | $152.2M | −1.9% | — | 2.3x | 91 | |
| 17 | Jupiter Perps | $290.7M | 1.0% | +5.7% | — | — | — | — | 3 | |
| 18 | Vest Markets | $166.7M | 0.6% | +36.8% | — | — | — | — | 53 | |
| 19 | Ondo Perps | $163.9M | 0.6% | +30.3% | $87.3M | −2.0% | — | 1.9x | 65 | |
| 20 | RISEx | $128.1M | 0.4% | +25.6% | $53.1M | −4.1% | — | 2.4x | 34 |
Hyperliquid
Variational Omni
Aster
tradeXYZ
Lighter
edgeX
Extended
Pacifica
Lighter RH
GRVT
Nado
StandX
ApeX Omni
QFEX
SunX
SoDEX
Jupiter Perps
Vest Markets
Ondo Perps
RISExAll-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 | 178 | — | 4.5 bp | 9.1 bp | — | — | 0% | $10.57B | $12.10B | No |
| Variational Omni | 552 | 110 | 0 bp | 1.1 bp | $118.3M | $170.2M | 3.1% | $3.82B | $886.2M | No |
| Aster | 584 | 133 | 4 bp | 9.1 bp | $502.3M | $209.2M | 21% | $2.35B | $1.40B | No |
| tradeXYZ | 109 | 109 | 9 bp | 20.7 bp | $2.31B | $3.86B | 100% | $2.31B | $3.86B | No |
| Lighter | 193 | 73 | 0 bp | 1.3 bp | $242.9M | $99.5M | 12% | $2.03B | $596.6M | No |
| edgeX | 177 | 107 | 4.5 bp | 9.9 bp | $96.8M | $47.4M | 5.5% | $1.75B | $614.0M | No |
| Extended | 309 | 111 | 2.5 bp | 5.1 bp | $140.9M | $48.3M | 14% | $1.03B | $190.2M | No |
| Pacifica | 78 | 24 | 4 bp | 8.6 bp | $4.2M | $5.0M | 0.5% | $884.6M | $116.8M | No |
| Lighter RH | 57 | 45 | 0 bp | 2.3 bp | $302.1M | $146.5M | 53% | $565.2M | $212.7M | No |
| GRVT | 184 | 105 | 4.5 bp | 10.5 bp | $32.2M | $8.2M | 6.0% | $533.8M | $461.7M | No |
| Nado | 75 | 32 | 3.5 bp | 7.4 bp | $12.5M | $11.9M | 3.0% | $414.8M | $88.2M | No |
| StandX | 13 | 6 | 4 bp | 12.5 bp | $20.4M | $6.0M | 4.9% | $414.2M | $52.3M | No |
| ApeX Omni | 125 | 39 | 5 bp | 10.6 bp | $18.9M | $3.1M | 4.8% | $392.0M | $150.2M | No |
| QFEX | 196 | 185 | 5 bp | 24.3 bp | $354.8M | $241.3M | 97% | $364.3M | $252.5M | No |
| SunX | 271 | 123 | 4 bp | 65.5 bp | $174.6M | $212K | 48% | $361.5M | $5.7M | No |
| SoDEX | 91 | 37 | 4 bp | 8.2 bp | $3.0M | $7.2M | 0.8% | $351.9M | $152.2M | No |
| RISEx | 34 | 18 | 3 bp | 8.3 bp | $41.4M | $26.9M | 32% | $128.1M | $53.1M | No |
| Polymarket Perps | 89 | 49 | 4 bp | 15.0 bp | $47.5M | $36.0M | 40% | $117.3M | $62.8M | No |
| Arcus | 58 | 36 | 2.25 bp | 6.2 bp | $11.4M | $6.9M | 10% | $110.6M | $17.2M | No |
| dYdX | 78 | 2 | 5 bp | 25.1 bp | $4K | $20K | <0.1% | $82.1M | $52.0M | No |
| Injective | 286 | 97 | — | 16.7 bp | $10.7M | $1.7M | 14% | $79.2M | $3.1M | No |
| Popdex | 66 | 34 | 3.2 bp | 7.9 bp | $12.1M | $5.7M | 17% | $73.2M | $19.6M | No |
| Phoenix | 87 | 44 | 3.5 bp | 11.5 bp | $6.2M | $5.3M | 12% | $50.4M | $24.6M | No |
| Bulk | 5 | — | 3.5 bp | 8.2 bp | — | — | 0% | $35.5M | $5.9M | No |
| Hibachi | 15 | 7 | 4.5 bp | 37.5 bp | $11.3M | $296K | 53% | $21.3M | $1.6M | No |
| Paradex | 60 | 18 | 0 bp | 8.6 bp | $23K | $153K | 0.2% | $10.0M | $22.5M | No |
| Bullet | 23 | 12 | 4 bp | 17.8 bp | $1.5M | $209K | 21% | $7.1M | $991K | No |
| Paragon | 27 | 27 | — | 105 bp | $5.8M | $17.0M | 100% | $5.8M | $17.0M | No |
| N1 | 38 | — | 3.5 bp | 18.7 bp | — | — | 0% | $4.6M | $913K | No |
| Aevo | 89 | 35 | 8 bp | 23.9 bp | $2K | $662K | <0.1% | $3.6M | $12.6M | No |
| gTrade (Gains Network) | 88 | 7 | 3.5 bp | 430 bp | — | $632K | — | — | $29.8M | No |
BTC funding across perp DEXs
+0.0071%now, /8hWeighted by open interestMedian DEXHighest to lowest DEX
Table
| Day | Weighted | Median | Highest | Lowest |
|---|---|---|---|---|
| Sep 23, 2026 | +0.0081% | +0.0078% | +0.0161% | −0.0082% |
| Sep 22, 2026 | +0.0092% | +0.0096% | +0.0191% | −0.0112% |
| Sep 21, 2026 | +0.0130% | +0.0094% | +0.0167% | −0.0036% |
| Sep 20, 2026 | +0.0086% | +0.0100% | +0.0183% | −0.0110% |
| Sep 19, 2026 | +0.0089% | +0.0100% | +0.0223% | −0.0086% |
| Sep 18, 2026 | +0.0078% | +0.0086% | +0.0100% | −0.0042% |
| Sep 17, 2026 | +0.0085% | +0.0095% | +0.0195% | +0.0049% |
| Sep 16, 2026 | +0.0077% | +0.0076% | +0.0104% | −0.0024% |
| Sep 15, 2026 | +0.0073% | +0.0070% | +0.0104% | −0.0004% |
| Sep 14, 2026 | +0.0075% | +0.0055% | +0.0100% | −0.0113% |
| Sep 13, 2026 | +0.0032% | +0.0066% | +0.0100% | −0.0193% |
| Sep 12, 2026 | +0.0018% | +0.0062% | +0.0100% | −0.0258% |
| Sep 11, 2026 | +0.0052% | +0.0057% | +0.0104% | −0.0005% |
| Sep 10, 2026 | +0.0070% | +0.0085% | +0.0104% | −0.0016% |
| Sep 9, 2026 | +0.0074% | +0.0084% | +0.0104% | −0.0005% |
| Sep 8, 2026 | +0.0038% | +0.0076% | +0.0104% | −0.0036% |
| Sep 7, 2026 | +0.0043% | +0.0071% | +0.0104% | −0.0054% |
| Sep 6, 2026 | +0.0084% | +0.0096% | +0.0104% | −0.0029% |
| Sep 5, 2026 | +0.0050% | +0.0063% | +0.0100% | −0.0039% |
| Sep 4, 2026 | +0.0067% | +0.0075% | +0.0100% | −0.0109% |
| Sep 3, 2026 | +0.0074% | +0.0078% | +0.0104% | −0.0036% |
| Sep 2, 2026 | +0.0085% | +0.0078% | +0.0104% | −0.0076% |
| Sep 1, 2026 | +0.0081% | +0.0095% | +0.0104% | −0.0111% |
| Aug 31, 2026 | +0.0082% | +0.0087% | +0.0100% | −0.0110% |
| Aug 30, 2026 | +0.0088% | +0.0084% | +0.0103% | −0.0004% |
| Aug 29, 2026 | +0.0080% | +0.0094% | +0.0100% | −0.0107% |
| Aug 28, 2026 | +0.0074% | +0.0083% | +0.0109% | −0.0108% |
| Aug 27, 2026 | +0.0078% | +0.0069% | +0.0100% | −0.0073% |
| Aug 26, 2026 | +0.0079% | +0.0072% | +0.0100% | −0.0049% |
| Aug 25, 2026 | +0.0094% | +0.0091% | +0.0212% | +0.0002% |
GMX
Reya
Paradex
dYdXShare of perp DEX markets where longs pay funding
85.6%of liquid DEX markets on Sep 23Longs paid
Table
| Day | Longs paid |
|---|---|
| Sep 23, 2026 | 85.6% |
| Sep 22, 2026 | 87.3% |
| Sep 21, 2026 | 88.1% |
| Sep 20, 2026 | 87.5% |
| Sep 19, 2026 | 88.2% |
| Sep 18, 2026 | 86.3% |
| Sep 17, 2026 | 88.2% |
| Sep 16, 2026 | 84.8% |
| Sep 15, 2026 | 84.6% |
| Sep 14, 2026 | 84.5% |
| Sep 13, 2026 | 70.8% |
| Sep 12, 2026 | 82.1% |
| Sep 11, 2026 | 85.3% |
| Sep 10, 2026 | 84.1% |
| Sep 9, 2026 | 86.6% |
| Sep 8, 2026 | 85.2% |
| Sep 7, 2026 | 84.7% |
| Sep 6, 2026 | 88.8% |
| Sep 5, 2026 | 90.0% |
| Sep 4, 2026 | 86.5% |
| Sep 3, 2026 | 88.4% |
| Sep 2, 2026 | 88.9% |
| Sep 1, 2026 | 87.6% |
| Aug 31, 2026 | 74.7% |
| Aug 30, 2026 | 82.2% |
| Aug 29, 2026 | 86.5% |
| Aug 28, 2026 | 87.4% |
| Aug 27, 2026 | 87.5% |
| Aug 26, 2026 | 89.3% |
| Aug 25, 2026 | 91.9% |
Cost to trade BTC on perp DEXs at $10k
open and close, cheapest first- Lighter0.6 bp$0.62
- Lighter RH1.3 bp$1.33
- Injective4.4 bp$4.36
- Arcus5.0 bp$5.05
- Extended5.1 bp$5.12
- Paradex6.4 bp$6.42
- RISEx6.5 bp$6.49
- Popdex6.9 bp$6.86
- Bulk7.0 bp$7.00
- Nado7.1 bp$7.12
- Phoenix7.4 bp$7.43
- N17.8 bp$7.76
Injective
Arcus
Popdex
Bulk
Phoenix
N117 more with a figure → No data: Variational Omni, Derive, GMX, Reya, Ondo Perps, Orderly, Perpl, Katana Perps, Hotstuff, Vest Markets, Jupiter Perps.
Open interest moves on perp DEXs, 24h
since 11:00 UTC yesterdayQuestions about perp DEX volume, open interest and trading cost
Which perp DEX is the largest?
Hyperliquid, with $10.57B of 24-hour volume as of 24 Sep 2026, 10:36 UTC: 36% of the $29.78B traded on perp DEXs. It also holds the most open interest, $12.10B.
How much volume do perp DEXs trade?
$29.78B in the 24 hours to 24 Sep 2026, 10:36 UTC, on 43 of 46 perp DEXs, +28% against their 7-day average. The three largest trade 56% of it.
How much open interest is on perp DEXs?
$21.85B on the 44 perp DEXs that report it, as of 24 Sep 2026, 10:36 UTC, −9.6% in 24 hours. As each DEX reports it.
Which perp DEXs are growing?
By 24-hour volume against their own recent average, as of 24 Sep 2026, 10:36 UTC: Extended (+83%), Hyperliquid (+43%) and Variational Omni (+39%). By open interest over 24 hours: QFEX (+2%).
Which perp DEX is cheapest to trade?
Variational Omni: 1.1 bp to open and close $100k, the volume-weighted median of its 546 markets on the median order books of 23 Sep 2026. The median of all 2,030 DEX markets priced at $100k is 80.3 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 24 Sep 2026, 10:36 UTC the median perp DEX traded 2.6 times its open interest in 24 hours. The exchanges table marks the 13 of 41 above 5 times and the 5 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.