Perp DEXes on Base: live volume and TVL
PerpFinder tracks 36 perp DEXes on Base. Their reported 24h volume is $536.5m in total. Veranta has the largest share of that volume: 66.1%. Base holds $6.36b of DeFi TVL.
This page ranks the perp DEXes on Base by live 24h volume and shows the chain TVL. 36 perp DEXes tracked.
To choose the best perp DEX on Base, see Best perp DEX on Base.
Total Value Locked in DeFi
$6.36b
Key metrics
TVL history
Protocol collateral · DefiLlama · USD
Perp DEXes on Base by 24h volume
36 protocols| # | Protocol | Volume 24h |
|---|---|---|
| 1 | Veranta | $354.6m |
| 2 | SynFutures V3 | $70.9m |
| 3 | Vest Markets | $36.2m |
| 4 | Hibachi | $29.0m |
| 5 | Gains Network | $21.9m |
| 6 | KiloEx | $17.7m |
| 7 | Carbon.inc | $4.1m |
| 8 | SYMMIO | $2.1m |
| 9 | Domination Finance | — |
| 10 | UniDex Perp | — |
| 11 | IPOR Derivatives | — |
| 12 | JOJO | — |
| 13 | Vela Exchange | — |
| 14 | Vertex Perps | — |
| 15 | QuickPerps | — |
| 16 | Satori Perp | — |
| 17 | SwapBased Perp | — |
| 18 | Nether.Fi | — |
| 19 | BMX Classic Perps | — |
| 20 | PancakeSwap Perps | — |
Protocols on Base
Based
50x leverage · 5.0 bps taker
Hibachi
30x leverage · 4.5 bps taker
Avantis
100x leverage · 0.01% or 0.045% when opening and again when closing; crypto standard perps; 0.01% improves the open-interest balance, 0.045% worsens it; forex, commodity and equity markets are 0% and Upside Perps use profit sharing
Orderly Network
50x leverage · 3.0 bps taker
SynFutures
100x leverage · 2.0 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
Vest Markets
50x leverage · 1.0 bps taker
Perpetual futures trading on Base
Base is Coinbase's Ethereum L2, launched in August 2023. Current tracked venues include SynFutures, Avantis, Based, Gains Network, and Desk. Kwenta is discontinued and stays outside live counts.
What sets Base apart for derivatives
Base runs on the OP Stack, giving it identical architecture to Optimism but a different liquidity base. Coinbase's distribution is the main differentiator: the chain is natively integrated into the Coinbase app for millions of users who have never manually configured a wallet. For perp DEX teams, that means a direct onboarding path from the largest US crypto exchange.
Gas costs on Base are consistently among the lowest in the L2 ecosystem. DefiLlama's Base chain page shows sustained TVL above $5 billion as of mid-2026, reflecting strong developer and user adoption. A typical perp order costs under $0.10 in gas fees, and the chain rarely sees congestion spikes the way Ethereum mainnet does.
The protocols and their differentiation
SynFutures uses a permissionless oAMM model. Avantis uses Chainlink oracles for crypto, forex, and commodity perps with a 0.01% to 0.045% position fee on each open and close for crypto markets. Gains Network had 184 active markets across its multi-chain deployment in the official pair snapshot on August 11, 2026. Desk and Based use order-book fee schedules. Check each venue for current markets and program status.
PerpFinder sees Base as the clearest path for perp DEXes targeting retail users new to DeFi. The Coinbase integration removes the most common onboarding blocker: getting assets onto the right chain.
Risks to account for
Base's sequencer is operated by Coinbase. The chain has no fraud proof system in production yet, meaning the current trust model requires trusting the sequencer operator for finality. L2Beat's Base page tracks the security roadmap; the team has committed to deploying fault proofs, though timelines have shifted.
Liquidity fragmentation across six protocols means individual venues are thinner than the Base TVL headline suggests. Check live volume splits using our perpetuals page before sizing a trade.