Perp DEX stats: volume, open interest, market share
48 perp DEXs: $9.86B traded in 24 hours, $21.92B open interest, as of 11 Oct 2026 12:45 UTC.
DEX volume 24h$9.86B−50% vs 7d avg
DEX open interest$21.92B+0.8% 24h · 46 DEXs
Active DEXs4745 with volume · 46 with OI
Largest DEXHyperliquid32% of DEX volume
DEX volume / OI0.4xmedian DEX 1.1x
Perp DEX volume by exchange
$9.86Bdaily volume, last 30 days, and nowTotal$9.86B
Table
| Day | Hyperliquid + HIP-3 | Variational Omni | Aster | edgeX | Lighter | Pacifica | Extended | GRVT | Other | Total |
|---|---|---|---|---|---|---|---|---|---|---|
| Oct 11 12:45, live | $3.40B | $896.9M | $620.1M | $245.4M | $1.01B | $248.0M | $193.2M | $549.8M | $2.69B | $9.86B |
| Oct 10, 2026 | $3.05B | $925.9M | $573.8M | $241.9M | $996.3M | $247.5M | $203.7M | $523.0M | $2.78B | $9.54B |
| Oct 9, 2026 | $6.03B | $2.31B | $1.43B | $606.9M | $1.60B | $798.7M | $500.2M | $454.2M | $4.90B | $18.63B |
| Oct 8, 2026 | $12.68B | $3.40B | $2.92B | $1.33B | $2.73B | $1.04B | $652.1M | $554.3M | $6.51B | $31.83B |
| Oct 7, 2026 | $9.23B | $4.00B | $1.93B | $989.6M | $2.40B | $827.6M | $585.5M | $541.0M | $5.42B | $25.92B |
| Oct 6, 2026 | $6.30B | $4.40B | $1.42B | $610.6M | $1.65B | $661.0M | $479.5M | $387.8M | $4.51B | $20.42B |
| Oct 5, 2026 | $7.81B | $3.84B | $1.72B | $793.6M | $1.50B | $774.9M | $547.0M | $368.3M | $5.35B | $22.70B |
| Oct 4, 2026 | $3.19B | $1.04B | $867.3M | $391.9M | $771.6M | $340.1M | $209.1M | $495.2M | $2.91B | $10.21B |
| Oct 3, 2026 | $2.23B | $895.9M | $790.5M | $292.1M | $525.2M | $270.4M | $173.5M | $442.7M | $2.49B | $8.11B |
| Oct 2, 2026 | $10.60B | $4.11B | $2.50B | $1.18B | $1.70B | $943.0M | $529.6M | $422.0M | $5.78B | $27.78B |
| Oct 1, 2026 | $8.40B | $2.73B | $1.69B | $786.1M | $1.50B | $856.5M | $524.9M | $433.4M | $5.17B | $22.10B |
| Sep 30, 2026 | $9.37B | $3.52B | $1.90B | $885.7M | $1.71B | $678.9M | $518.5M | $462.3M | $5.98B | $25.02B |
| Sep 29, 2026 | $8.92B | $3.51B | $1.62B | $825.7M | $1.61B | $817.9M | $492.1M | $449.0M | $5.35B | $23.61B |
| Sep 28, 2026 | $11.33B | $3.49B | $1.76B | $973.8M | $1.76B | $977.3M | $548.2M | $474.6M | $6.27B | $27.59B |
| Sep 27, 2026 | $4.68B | $1.28B | $875.8M | $487.9M | $822.7M | $443.9M | $181.2M | $574.8M | $3.40B | $12.74B |
| Sep 26, 2026 | $3.38B | $878.6M | $784.8M | $348.7M | $639.2M | $348.1M | $164.9M | $549.3M | $2.54B | $9.64B |
| Sep 25, 2026 | $9.27B | $2.66B | $1.48B | $879.4M | $1.54B | $747.1M | $547.2M | $509.7M | $4.95B | $22.58B |
| Sep 24, 2026 | $11.26B | $3.22B | $1.80B | $1.25B | $1.76B | $762.4M | $499.1M | $501.6M | $5.48B | $26.54B |
| Sep 23, 2026 | $12.10B | $4.04B | $2.18B | $1.76B | $1.98B | $912.2M | $1.10B | $472.9M | $5.84B | $30.39B |
| Sep 22, 2026 | $9.79B | $3.70B | $1.83B | $1.63B | $1.50B | $956.6M | $548.2M | $512.6M | $5.78B | $26.24B |
| Sep 21, 2026 | $13.73B | $3.75B | $3.38B | $2.62B | $2.09B | $1.02B | $677.1M | $606.3M | $7.35B | $35.22B |
| Sep 20, 2026 | $5.92B | $1.24B | $1.69B | $1.06B | $1.09B | $185.2M | $282.9M | $600.2M | $3.26B | $15.32B |
| Sep 19, 2026 | $4.72B | $1.00B | $1.59B | $987.8M | $942.6M | $353.6M | $306.8M | $527.9M | $3.17B | $13.61B |
| Sep 18, 2026 | $11.08B | $2.81B | $3.36B | $2.03B | $2.08B | $820.2M | $523.3M | $528.3M | $5.77B | $29.00B |
| Sep 17, 2026 | $7.51B | — | $2.03B | $1.08B | $1.23B | $828.8M | $492.7M | $485.1M | $2.68B | $16.33B |
| Sep 16, 2026 | $9.05B | — | $2.19B | $1.53B | $1.71B | $1.02B | $535.3M | $516.5M | $3.52B | $20.07B |
| Sep 15, 2026 | $12.25B | — | $3.49B | $2.02B | $1.77B | $790.2M | $671.9M | $525.1M | $3.46B | $24.96B |
| Sep 14, 2026 | $9.63B | — | $2.69B | $1.46B | $2.03B | $844.1M | $553.0M | $482.6M | $3.22B | $20.91B |
| Sep 13, 2026 | $4.51B | — | $1.29B | $820.2M | $863.3M | $326.1M | $260.0M | $354.1M | $2.15B | $10.58B |
| Sep 12, 2026 | $2.05B | — | $942.8M | $446.1M | $525.7M | $250.1M | $236.1M | $299.0M | $2.08B | $6.83B |
| Sep 11, 2026 | $11.25B | — | $3.17B | $2.50B | $1.89B | $1.04B | $847.6M | $527.2M | $3.27B | $24.49B |
Perp DEX vaults
$1.33B21 protocol-run pools · TVL, daily, last 30 daysTotal$1.33B
Table
| Exchange | Pool | TVL | APR | 30d | Net flow 7d | Net flow 30d |
|---|---|---|---|---|---|---|
| Jupiter Perps | JLP | $896.7M | +8.0% | +5.36% | −$2.54M | −$2.79M |
| Hyperliquid | HLP | $180.3M | +3.4% | +0.33% | −$1.96M | −$7.15M |
| Lighter | LLP | $84.3M | +14.9% | +1.54% | −$924.0K | — |
| Extended | Extended Vault | $64.3M | +9.2% | +0.46% | −$996.4K | −$4.13M |
| StandX | SLP | $21.5M | — | −0.04% | −$54.8K | −$500.1K |
| GMX | GLV ETH-USDC | $14.5M | +13.2% | +2.68% | −$60.8K | — |
| GMX | GLV WBTC-USDC | $12.5M | +8.9% | +4.64% | +$43.1K | — |
| GRVT | GLP | $12.4M | — | +0.94% | −$76.8K | −$789.0K |
| Avantis | avUSDC | $9.6M | +17.7% | +1.46% | +$7,290 | −$1.09M |
| Nado | NLP | $7.8M | — | +1.27% | +$5,906 | −$101.9K |
| Orderly | OmniVault | $5.8M | +32.4% | +2.29% | −$6,929 | −$123.3K |
| Aster | ALP | $5.5M | — | +0.84% | −$67.0K | — |
| Aftermath Perps | afLP | $4.7M | — | +1.62%13d | +$5,711 | −$116.4K13d |
| gTrade (Gains Network) | gUSDC | $4.1M | — | −0.04%13d | −$69.7K | −$454.4K13d |
| Paradex | GigaVTF | $2.6M | −2.9% | −0.24% | −$178.7K | — |
| Lighter RH | LLP | $2.0M | +168.3% | +11.73% | +$67 | — |
| dYdX | MegaVault | $1.8M | — | +0.68% | +$745 | +$31.2K |
| gTrade (Gains Network) | gETH | $902K | — | +0.07%13d | −$76.7K | −$73.0K13d |
| gTrade (Gains Network) | gUSDC | $827K | — | +0.70% | +$4,689 | −$55.7K |
| GMX | GLV AVAX-USDC | $750K | +10.3% | +0.43%13d | −$239.3K | −$341.3K13d |
| GMX | GLV USDM | $523K | 0.0% | +0.15%13d | −$1 | −$1,01013d |
Perp DEX volume by asset class
RWA 26.1%daily, last 90 daysTable, every 7th day
| Day | Crypto | Stocks | Commodities | FX | Indices | Pre-IPO | Other RWA | Total |
|---|---|---|---|---|---|---|---|---|
| Oct 10, 2026 | $8.12B | $759.1M | $328.0M | $4.4M | $114.6M | $74.4M | $5.2M | $9.40B |
| Oct 3, 2026 | $6.87B | $751.2M | $456.3M | $10.8M | $98.1M | $68.5M | $14.1M | $8.27B |
| Sep 26, 2026 | $8.26B | $677.3M | $435.0M | $6.5M | $118.4M | $39.1M | $7.9M | $9.54B |
| Sep 19, 2026 | $12.43B | $821.7M | $491.4M | $37.3M | $99.9M | $37.8M | $12.2M | $13.93B |
| Sep 12, 2026 | $5.67B | $602.5M | $469.9M | $869K | $51.2M | $22.8M | $10.2M | $6.83B |
| Sep 5, 2026 | $7.24B | $688.4M | $976.0M | $2.8M | $66.6M | $27.0M | $2.2M | $9.01B |
| Aug 29, 2026 | $6.43B | $341.1M | $158.9M | $1.1M | $45.2M | $40.5M | $2.0M | $7.02B |
| Aug 22, 2026 | $20.38B | $547.6M | $279.3M | $6.2M | $129.1M | $1.0M | $8.1M | $21.35B |
| Aug 15, 2026 | $3.34B | $397.5M | $161.3M | $963K | $130.3M | $1.4M | $1.0M | $4.03B |
| Aug 8, 2026 | $3.48B | $435.5M | $195.2M | $1.1M | $110.2M | $194K | $574K | $4.22B |
| Aug 1, 2026 | $4.91B | $373.8M | $272.3M | $5.0M | $104.3M | $24K | $1.5M | $5.67B |
| Jul 25, 2026 | $5.25B | $381.0M | $330.4M | $2.9M | $108.5M | — | $101K | $6.07B |
| Jul 18, 2026 | $4.84B | $315.9M | $282.7M | $1.9M | $128.8M | — | $624K | $5.57B |
Perp DEX open interest by asset class
now| Asset class | Open interest | Vol 24h | DEXs |
|---|---|---|---|
| Crypto | $16.50B | $8.63B | 44 |
| Stocks | $2.88B | $719.3M | 35 |
| Commodities | $1.35B | $313.3M | 35 |
| Indices | $866.7M | $74.7M | 21 |
| Other RWA | $136.8M | $6.6M | 13 |
| FX | $102.0M | $26.4M | 16 |
| Pre-IPO | $74.7M | $89.8M | 14 |
| Not mapped | $12.9M | $994K | 5 |
Perp DEXs ranked by 24-hour volume
48 DEXs| # | Exchange | Vol 24h | Share | vs 7d avg | OI | OI 24h | OI 7d | Vol / OI | Markets | Volume 30d |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hyperliquid | $3.18B | 32.3% | −37.5% | $12.07B | +1.1% | −7.8% | 0.3x | 178 | |
| 2 | Lighter | $1.01B | 10.3% | −39.0% | $561.8M | −4.3% | −5.7% | 1.8x | 197 | |
| 3 | Variational Omni | $896.9M | 9.1% | −68.5% | $1.05B | +1.5% | −2.5% | 0.9x | 569 | |
| 4 | Aster | $620.1M | 6.3% | −60.0% | $1.34B | +0.3% | −4.3% | 0.5x | 594 | |
| 5 | GRVT | $549.8M | 5.6% | +15.8% | $453.6M | +0.4% | −4.9% | 1.2x | 184 | |
| 6 | Lighter RH | $370.2M | 3.8% | −35.9% | $219.9M | +0.9% | −3.3% | 1.7x | 58 | |
| 7 | ApeX Omni | $352.5M | 3.6% | −10.9% | $156.4M | −0.3% | +1.1% | 2.3x | 126 | |
| 8 | StandX | $343.2M | 3.5% | −11.1% | $35.5M | +1.2% | −19.1% | 9.7x | 13 | |
| 9 | Pacifica | $248.0M | 2.5% | −63.0% | $132.6M | +3.2% | −4.6% | 1.9x | 77 | |
| 10 | Arcus | $247.9M | 2.5% | −45.9% | $100.7M | +14.9% | +90.6% | 2.5x | 60 | |
| 11 | edgeX | $245.4M | 2.5% | −65.4% | $437.5M | +0.2% | −4.8% | 0.6x | 185 | |
| 12 | Kalshi | $242.7M | 2.5% | −61.6% | $41.7M | −7.3% | +23.9% | 5.8x | 26 | |
| 13 | Extended | $193.2M | 2.0% | −57.4% | $210.1M | +2.8% | +5.8% | 0.9x | 302 | |
| 14 | tradeXYZ | $182.8M | 1.9% | −89.6% | $3.59B | +0.7% | −6.9% | 0.1x | 114 | |
| 15 | SoDEX | $175.5M | 1.8% | +1.0% | $267.1M | +0.6% | +10.9% | 0.7x | 92 | |
| 16 | SunX | $173.9M | 1.8% | −34.3% | $6.1M | +0.9% | −0.8% | 28.6x | 288 | |
| 17 | TxFlow | $134.7M | 1.4% | −10.1% | $64.0M | +8.1% | — | 2.1x | 227 | |
| 18 | Nado | $133.7M | 1.4% | −57.4% | $89.3M | +2.2% | −4.1% | 1.5x | 75 | |
| 19 | RISEx | $82.3M | 0.8% | −30.2% | $76.9M | −0.4% | +5.2% | 1.1x | 40 | |
| 20 | Jupiter Perps | $71.3M | 0.7% | −54.3% | — | — | — | — | 3 |
All-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 | 9.4 bp | — | — | 0% | $3.18B | $12.07B | No |
| Lighter | 197 | 81 | 0 bp | 1.4 bp | $72.5M | $105.9M | 7.1% | $1.01B | $561.8M | No |
| Variational Omni | 569 | 134 | 0 bp | 1.3 bp | $99.4M | $394.5M | 11% | $896.9M | $1.05B | No |
| Aster | 594 | 136 | 4 bp | 9.4 bp | $182.4M | $243.3M | 29% | $620.1M | $1.34B | No |
| GRVT | 184 | 106 | 4.5 bp | 10.4 bp | $31.8M | $8.1M | 5.8% | $549.8M | $453.6M | No |
| Lighter RH | 58 | 45 | 0 bp | 2.3 bp | $246.6M | $168.3M | 67% | $370.2M | $219.9M | No |
| ApeX Omni | 126 | 40 | 5 bp | 10.3 bp | $15.2M | $4.5M | 4.3% | $352.5M | $156.4M | No |
| StandX | 13 | 6 | 4 bp | 13.5 bp | $5.4M | $4.6M | 1.6% | $343.2M | $35.5M | No |
| Pacifica | 77 | 24 | 4 bp | 10.0 bp | $1.6M | $5.1M | 0.6% | $248.0M | $132.6M | No |
| Arcus | 60 | 36 | 2.25 bp | 4.6 bp | $99.8M | $59.2M | 40% | $247.9M | $100.7M | No |
| edgeX | 185 | 107 | 4.5 bp | 10.3 bp | $29.2M | $46.7M | 12% | $245.4M | $437.5M | No |
| Kalshi | 26 | 7 | 4 bp | 11.3 bp | $14.2M | $10.5M | 5.9% | $242.7M | $41.7M | Yes |
| Extended | 302 | 106 | 2.5 bp | 5.4 bp | $31.5M | $59.1M | 16% | $193.2M | $210.1M | No |
| tradeXYZ | 114 | 114 | 0.9 bp | 6.2 bp | $182.8M | $3.59B | 100% | $182.8M | $3.59B | No |
| SoDEX | 92 | 38 | 4 bp | 8.4 bp | $7.6M | $4.9M | 4.3% | $175.5M | $267.1M | No |
| SunX | 288 | 150 | 4 bp | 70.8 bp | $63.1M | $268K | 36% | $173.9M | $6.1M | No |
| TxFlow | 227 | 97 | 4.5 bp | 9.0 bp | $9.6M | $14.7M | 7.1% | $134.7M | $64.0M | No |
| Nado | 75 | 32 | 3.5 bp | 7.4 bp | $1.4M | $11.5M | 1.1% | $133.7M | $89.3M | No |
| RISEx | 40 | 20 | 3 bp | 8.1 bp | $24.4M | $35.2M | 30% | $82.3M | $76.9M | No |
| Injective | 287 | 122 | 0.01 bp | 15.0 bp | $4.4M | $990K | 8.1% | $54.4M | $4.1M | No |
| Popdex | 66 | 35 | 3.2 bp | 6.8 bp | $6.1M | $13.0M | 15% | $41.9M | $39.0M | No |
| Hibachi | 15 | 7 | 4.5 bp | 9.5 bp | $21.9M | $166K | 60% | $36.3M | $1.7M | No |
| Entropy | 9 | 9 | 0.9 bp | 18.8 bp | $32.2M | $64.4M | 100% | $32.2M | $64.4M | No |
| QFEX | 221 | 211 | 10 bp | 23.2 bp | $28.1M | $271.4M | 98% | $28.6M | $283.6M | No |
| Ondo Perps | 65 | 56 | 2.5 bp | 9.5 bp | $10.4M | $84.8M | 43% | $24.5M | $93.4M | No |
| Phoenix | 94 | 45 | 3.5 bp | 13.5 bp | $764K | $4.7M | 4.7% | $16.3M | $26.9M | No |
| Bulk | 8 | — | 3.5 bp | 7.2 bp | — | — | 0% | $15.0M | $11.7M | No |
| Polymarket Perps | 88 | 48 | 4 bp | 15.4 bp | $2.6M | $67.8M | 17% | $15.0M | $96.2M | No |
| gTrade (Gains Network) | 122 | 22 | 3.5 bp | 3,629 bp | $1.5M | $881K | 11% | $12.9M | $3.0M | No |
| Paradex | 60 | 18 | 2 bp | 42.5 bp | $42K | $511K | 0.4% | $12.0M | $13.4M | No |
| dYdX | 73 | 2 | 5 bp | 23.0 bp | $6K | $36K | <0.1% | $10.7M | $37.6M | No |
| Bullet | 26 | 12 | 4 bp | 16.7 bp | $579K | $160K | 5.6% | $10.4M | $2.3M | No |
| Aftermath Perps | 48 | 26 | 4.5 bp | 83.7 bp | $587K | $475K | 30% | $1.9M | $934K | No |
| N1 | 39 | — | 3.5 bp | 19.3 bp | — | — | 0% | $1.6M | $1.3M | No |
| Paragon | 30 | 30 | 0.9 bp | 47.8 bp | $1.6M | $17.8M | 100% | $1.6M | $17.8M | No |
| Aevo | 88 | 34 | 8 bp | 23.0 bp | $2K | $612K | 0.1% | $1.4M | $12.3M | No |
| Markets by Kinetiq | 5 | 4 | 0.9 bp | 126 bp | $605K | $10.6M | 60% | $1.0M | $11.3M | No |
BTC funding across perp DEXs
−0.0044%now, /8hWeighted by open interestMedian DEXHighest to lowest DEX
Table
| Day | Weighted | Median | Highest | Lowest |
|---|---|---|---|---|
| Oct 10, 2026 | +0.0027% | +0.0034% | +0.0174% | −0.0074% |
| Oct 9, 2026 | +0.0040% | +0.0066% | +0.0209% | −0.0072% |
| Oct 8, 2026 | +0.0068% | +0.0068% | +0.0251% | −0.0073% |
| Oct 7, 2026 | +0.0084% | +0.0088% | +0.0223% | −0.0081% |
| Oct 6, 2026 | +0.0081% | +0.0070% | +0.0148% | −0.0135% |
| Oct 5, 2026 | +0.0085% | +0.0066% | +0.0164% | −0.0501% |
| Oct 4, 2026 | +0.0085% | +0.0088% | +0.0162% | −0.0833% |
| Oct 3, 2026 | +0.0067% | +0.0064% | +0.0174% | −0.0254% |
| Oct 2, 2026 | +0.0082% | +0.0079% | +0.0246% | +0.0001% |
| Oct 1, 2026 | +0.0082% | +0.0085% | +0.0425% | +0.0003% |
| Sep 30, 2026 | +0.0064% | +0.0065% | +0.0249% | 0% |
| Sep 29, 2026 | +0.0064% | +0.0069% | +0.0305% | −0.0005% |
| Sep 28, 2026 | +0.0053% | +0.0062% | +0.0169% | −0.0017% |
| Sep 27, 2026 | +0.0078% | +0.0066% | +0.0316% | −0.0040% |
| Sep 26, 2026 | +0.0069% | +0.0063% | +0.0310% | −0.0054% |
| Sep 25, 2026 | +0.0082% | +0.0085% | +0.0129% | −0.0077% |
| Sep 24, 2026 | +0.0066% | +0.0082% | +0.0155% | −0.0029% |
| Sep 23, 2026 | +0.0080% | +0.0087% | +0.0161% | −0.0082% |
| Sep 22, 2026 | +0.0092% | +0.0096% | +0.0191% | −0.0112% |
| Sep 21, 2026 | +0.0130% | +0.0095% | +0.0167% | −0.0011% |
| Sep 20, 2026 | +0.0088% | +0.0098% | +0.0183% | −0.0110% |
| Sep 19, 2026 | +0.0090% | +0.0096% | +0.0223% | −0.0086% |
| Sep 18, 2026 | +0.0079% | +0.0086% | +0.0142% | −0.0042% |
| Sep 17, 2026 | +0.0086% | +0.0096% | +0.0195% | +0.0049% |
| Sep 16, 2026 | +0.0078% | +0.0088% | +0.0138% | −0.0024% |
| Sep 15, 2026 | +0.0075% | +0.0076% | +0.0106% | −0.0004% |
| Sep 14, 2026 | +0.0077% | +0.0065% | +0.0129% | −0.0113% |
| Sep 13, 2026 | +0.0033% | +0.0070% | +0.0582% | −0.0193% |
| Sep 12, 2026 | +0.0019% | +0.0067% | +0.0528% | −0.0258% |
| Sep 11, 2026 | +0.0053% | +0.0058% | +0.0322% | −0.0005% |
Lowest BTC funding now
- ApeX Omni−0.0166%
- edgeX−0.0110%
- Hyperliquid−0.0081%
Share of perp DEX markets where longs pay funding
86.0%of liquid DEX markets on Oct 10Longs paid
Table
| Day | Longs paid |
|---|---|
| Oct 10, 2026 | 86.0% |
| Oct 9, 2026 | 79.4% |
| Oct 8, 2026 | 79.1% |
| Oct 7, 2026 | 79.5% |
| Oct 6, 2026 | 83.0% |
| Oct 5, 2026 | 84.9% |
| Oct 4, 2026 | 91.4% |
| Oct 3, 2026 | 87.7% |
| Oct 2, 2026 | 86.5% |
| Oct 1, 2026 | 84.2% |
| Sep 30, 2026 | 85.1% |
| Sep 29, 2026 | 85.7% |
| Sep 28, 2026 | 80.9% |
| Sep 27, 2026 | 85.4% |
| Sep 26, 2026 | 87.1% |
| Sep 25, 2026 | 85.4% |
| Sep 24, 2026 | 82.0% |
| Sep 23, 2026 | 84.1% |
| Sep 22, 2026 | 85.6% |
| Sep 21, 2026 | 86.9% |
| Sep 20, 2026 | 87.5% |
| Sep 19, 2026 | 87.4% |
| Sep 18, 2026 | 85.2% |
| Sep 17, 2026 | 87.9% |
| Sep 16, 2026 | 84.7% |
| Sep 15, 2026 | 83.7% |
| Sep 14, 2026 | 83.7% |
| Sep 13, 2026 | 70.7% |
| Sep 12, 2026 | 80.2% |
| Sep 11, 2026 | 84.8% |
Cost to trade BTC on perp DEXs at $10k
open and close, cheapest first- Lighter0.5 bp$0.46
- Lighter RH1.2 bp$1.16
- Variational Omni1.3 bp$1.29
- Arcus4.5 bp$4.51
- Extended5.1 bp$5.12
- Ondo Perps5.5 bp$5.49
- Paradex6.0 bp$5.99
- RISEx6.2 bp$6.24
- Popdex6.6 bp$6.64
- Bulk7.0 bp$7.00
- Nado7.1 bp$7.12
- Aster8.0 bp$8.01
21 more with a figure → No data: Derive, GMX, Vest Markets, Avantis, Orderly, Perpl, Reya, Katana Perps, Jupiter Perps.
Open interest moves on perp DEXs, 24h
since 13:00 UTC yesterday| Rising | OI now | 24h ▾ | Markets |
|---|---|---|---|
| CHIP | $22.7M | +75.7% | 6 |
| STRK | $67.4M | +69.7% | 7 |
| AERO | $48.2M | +20.4% | 9 |
| ARB | $24.6M | +11.2% | 11 |
| GRASS | $39.6M | +9.9% | 4 |
| MON | $55.2M | +8.7% | 10 |
| ZRO | $95.9M | +7.4% | 9 |
| USELESS | $11.9M | +6.2% | 6 |
| Falling | OI now | 24h ▴ | Markets |
|---|---|---|---|
| JUP | $21.2M | −5.2% | 10 |
| PONS | $40.2M | −4.9% | 8 |
| SNDKRWA | $164.2M | −4.7% | 20 |
| VVV | $77.6M | −4.0% | 10 |
| PENDLE | $12.4M | −4.0% | 7 |
| SUI | $79.0M | −3.9% | 21 |
| AAVE | $86.7M | −3.3% | 19 |
| LIT | $243.7M | −3.0% | 18 |
Questions about perp DEX volume, open interest and trading cost
Which perp DEX is the largest?
Hyperliquid, with $3.18B of 24-hour volume as of 11 Oct 2026, 12:45 UTC: 32% of the $9.86B traded on perp DEXs. It also holds the most open interest, $12.07B.
How much volume do perp DEXs trade?
$9.86B in the 24 hours to 11 Oct 2026, 12:45 UTC, on 45 of 48 perp DEXs, −50% against their 7-day average. The three largest trade 52% of it.
How much open interest is on perp DEXs?
$21.92B on the 46 perp DEXs that report it, as of 11 Oct 2026, 12:45 UTC, +0.8% in 24 hours. As each DEX reports it.
Which perp DEXs are growing?
By 24-hour volume against their own recent average, as of 11 Oct 2026, 12:45 UTC: GRVT (+16%) and SoDEX (+1%). By open interest over 7 days: SoDEX (+11%) and QFEX (+3%).
Which perp DEX is cheapest to trade?
Variational Omni: 1.3 bp to open and close $100k, the volume-weighted median of its 554 markets on the median order books of 10 Oct 2026. The median of all 2,340 DEX markets priced at $100k is 66.5 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 11 Oct 2026, 12:45 UTC the median perp DEX traded 1.1 times its open interest in 24 hours. The exchanges table marks the 6 of 44 above 5 times and the 3 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 11 Oct 2026, 12:00 UTC the 21 protocol-run pools tracked here hold $1.33B, the largest Jupiter Perps JLP with $896.7M.
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.