Perp DEXes on Arbitrum: live volume and TVL
PerpFinder tracks 45 perp DEXes on Arbitrum. Their reported 24h volume is $2.96b in total. Variational has the largest share of that volume: 95.6%. Arbitrum holds $1.41b of DeFi TVL.
This page ranks the perp DEXes on Arbitrum by live 24h volume and shows the chain TVL. 45 perp DEXes tracked.
To choose the best perp DEX on Arbitrum, see Best perp DEX on Arbitrum.
Total Value Locked in DeFi
$1.41b
Key metrics
TVL history
Protocol collateral · DefiLlama · USD
Perp DEXes on Arbitrum by 24h volume
45 protocols| # | Protocol | Volume 24h |
|---|---|---|
| 1 | Variational | $2.83b |
| 2 | GMX V2 Perps | $45.2m |
| 3 | Aark Digital | $32.1m |
| 4 | Hibachi | $25.3m |
| 5 | Gains Network | $21.9m |
| 6 | Ostium | $3.5m |
| 7 | SYMMIO | $2.1m |
| 8 | MUX Perps | $134.3k |
| 9 | Denaria GMX | $59.8k |
| 10 | Challenge4Trading Perp | $637 |
| 11 | GMX V1 Perps | — |
| 12 | UniDex Perp | — |
| 13 | IPOR Derivatives | — |
| 14 | HMX | — |
| 15 | JOJO | — |
| 16 | SynFutures V1 | — |
| 17 | El Dorado Exchange | — |
| 18 | Y2K V1 | — |
| 19 | Level Perps | — |
| 20 | Cap Finance V4 | — |
Protocols on Arbitrum
GMX
100x leverage · 0.04% or 0.06% when opening and again when closing; rate depends on whether the action improves or worsens pool imbalance
Aster
200x leverage · 4.0 bps taker
Apex Omni
100x leverage · 5.0 bps taker
Hibachi
30x leverage · 4.5 bps taker
Ostium
200x leverage · 0.01%, 0.02%, 0.03%, 0.05%, or 0.06% when opening; crypto pairs are 0.06%; $0.10 opening oracle fee, rollover, spread, and price impact are separate
Variational
50x leverage · 0.0 bps taker
MYX
100x leverage · 0.045% or 0.055% when opening and again when closing; VIP Tier 0; 0.045% when an executed open, increase, close, or decrease improves long-short open-interest balance, and 0.055% when it worsens that balance
Orderly Network
50x leverage · 3.0 bps taker
Gains Network
1000x leverage · 0.035% when opening and again when closing; BTC and ETH review rate; other pairs can use different fees and spreads
DESK
1000x leverage · 1.8 bps taker
Boros
1.2x leverage · 5.0 bps taker
Perpetual futures trading on Arbitrum
Arbitrum is the largest perp DEX chain by number of active protocols. PerpFinder currently tracks eleven protocols deployed here, more than any other network in our coverage set. The concentration reflects the chain's combination of low transaction costs, EVM compatibility, and an established user base that arrived before most L2s existed.
Protocols on Arbitrum
GMX is the most recognized name, using oracle-priced pool execution. Gains Network covers forex, stocks, commodities, and indices alongside crypto perps, while Ostium focuses on RWA perps. The other tracked Arbitrum venues are ApeX Omni, Boros, Desk, edgeX, Hibachi, MYX, Orderly, and Variational. Lighter is not part of this list: its application-specific ZK rollup settles to Ethereum rather than executing on Arbitrum.
DefiLlama's Arbitrum TVL page shows the chain consistently hosting $2-3 billion in total TVL, making it the second-largest L2 by locked assets after Base.
Gas and latency profile
Arbitrum One uses optimistic rollup architecture, posting batched transaction data to Ethereum. Block times run around 250 milliseconds, though confirmation for settlement purposes requires waiting for the batch to post. For perp DEX traders, this is fast enough that latency is not the constraint. Gas costs are the more relevant variable: a typical perp order on Arbitrum costs $0.05-$0.20 in gas depending on Ethereum L1 congestion at batch-posting time. On heavy traffic days, that figure can climb to $0.50.
The chain's L2Beat page tracks operator set, fraud proof status, and exit window. As of mid-2026, Arbitrum One uses a 7-day withdrawal delay to Ethereum.
Why so many protocols, and the downside
Arbitrum has eleven tracked perp protocols. Liquidity can differ by protocol and market. Check live depth and trade costs before you place a large order.
A secondary risk is correlated smart contract exposure. If a major Arbitrum sequencer incident occurs, every protocol deployed here is affected simultaneously. The sequencer is currently operated by Offchain Labs with plans for progressive decentralization.
Browse the full perpetuals listing to compare Arbitrum-based protocol fees, or use the cost comparison tool to run a side-by-side on gas-inclusive execution costs.