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Perpetual volume ranking: reported and adjusted

On September 25, 2026, Binance reported the most perpetual futures volume: $68.80B in 24 hours. The 115 tracked CEX and DEX venues reported $255.24B in total, and $243.27B of adjusted volume after the hold-outs. The DEX share was 9.4% reported and 9.9% adjusted. The largest DEX was Hyperliquid Perps, with $7.42B.

This page ranks centralized (CEX) and decentralized (DEX) perpetual futures venues by 24-hour and 7-day volume. The reported figure is the number that the venue or its data source publishes. The adjusted figure removes each venue that a PerpFinder hold-out rule flags.

These are measurements, not accusations. PerpFinder does not claim that any venue misreports volume. The adjusted figure is not an estimate: no venue figure is scaled or replaced.

$255.24B

Reported 24h, all tracked venues

$243.27B

Adjusted 24h · 4.7% held out

9.4% → 9.9%

DEX share, reported → adjusted

2026-09-25

Daily capture · 2026-09-25 00:10 UTC

Ranking by 24h volume

Download: 24h CSV · 7-day CSV · JSON
RankVenueTypeReported 24hAdjusted 24hReported 7 daysAdjusted 7 daysHold-out reason
1Binancecex$68.80B$68.80B——None
2OKXcex$27.85B$27.85B——None
3Toobitcex$17.62B$17.62B——None
4Bybitcex$17.50B$17.50B——None
5Gate.iocex$15.72B$15.72B——None
—reported #6WEEXcex$11.96B———unverified · 24hIn the unverified tier since 2026-09-05: No open-interest feed to verify reported turnover against; Reported 24h volume ran 8–12× its own 7-day median on 2026-09-04/05; Order-book depth within 270 bps measured at ~$95M against ~$90B reported.
6reported #7MEXCcex$11.62B$11.62B——None
7reported #8XT.COMcex$9.36B$9.36B——None
8reported #9Coinbasecex$9.19B$9.19B——None
9reported #10WhiteBITcex$8.87B$8.87B——None
10reported #11Bitgetcex$8.76B$8.76B——None
11reported #12Hyperliquid Perpsdex$7.42B$7.42B——None
12reported #13Bitunixcex$7.13B$7.13B——None
13reported #14BingXcex$7.01B$7.01B——None
14reported #15Variationaldex$3.31B$3.31B——None
15reported #16KuCoincex$2.34B$2.34B——None
16reported #17Deribitcex$2.26B$2.26B——None
17reported #18Lighter Perpsdex$1.98B$1.98B——None
18reported #19Aster Perpsdex$1.81B$1.81B——None
19reported #20edgeX V2dex$1.73B$1.73B——None
20reported #21HTXcex$1.66B$1.66B——None
21reported #22BloFincex$976.1M$976.1M——None
22reported #23Krakencex$968.0M$968.0M——None
23reported #24Phemexcex$851.4M$851.4M——None
24reported #25Lighter Robinhood Perpsdex$568.3M$568.3M——None
25reported #26Extended Perpsdex$546.3M$546.3M——None
26reported #27StandX Perpsdex$525.3M$525.3M——None
27reported #28Crypto.comcex$496.1M$496.1M——None
28reported #29Grvt Perpsdex$470.6M$470.6M——None
29reported #30Nado Perpsdex$436.2M$436.2M——None

The table shows the first 30 of 115 venues by reported 24h volume. 6 more held-out venues are in the CSV, with the reasons. A dash means no figure. The 7-day window is unavailable: The last 7 stored day files are not 7 consecutive captured days. Depth readings come from the volume-quality sweep of 2026-09-25 12:40 UTC (20 CEX venues).

Measured answers for the 2026-09-25 capture

Which venue reported the most perpetual volume? Binance ranks first on both bases, with $68.80B of reported 24h volume. The first DEX is Hyperliquid Perps, at adjusted rank 11 with $7.42B.

What is the DEX share of perpetual volume? DEX venues hold 9.4% of the reported 24h volume of all tracked venues, and 9.9% after the hold-outs.

How does Hyperliquid volume compare with Binance? Binance reported $68.80B of 24h perpetual volume. Hyperliquid Perps had $7.42B in the DefiLlama figure. Binance volume was 9.3 times the Hyperliquid volume.

Which venues are held out? 7 venues are held out of the 24h figures. The largest is WEEX, with $11.96B reported. Each reason is in the table.

DEX share of tracked perpetual volume

DEX volume divided by DEX plus CEX volume, for each stored daily capture. The adjusted line applies the unverified and spike rules for that day. The depth rule needs a sweep for each day, so the daily series does not apply it.

CSV
  • Adjusted (solid)
  • Reported (dashed)
0%2%4%6%8%10%12%14%16%18%20%
2026-06-05: reported 12.10%, adjusted 13.36% · 17 CEX and 70 DEX venues · held out: 12026-06-06: reported 12.29%, adjusted 13.59% · 17 CEX and 70 DEX venues · held out: 12026-06-07: reported 9.72%, adjusted 10.73% · 17 CEX and 65 DEX venues · held out: 12026-06-08: reported 9.34%, adjusted 10.24% · 17 CEX and 63 DEX venues · held out: 52026-06-09: reported 9.57%, adjusted 10.43% · 17 CEX and 64 DEX venues · held out: 12026-06-10: reported 9.54%, adjusted 10.41% · 17 CEX and 61 DEX venues · held out: 42026-06-11: reported 11.44%, adjusted 12.47% · 17 CEX and 62 DEX venues · held out: 22026-06-12: reported 9.24%, adjusted 10.13% · 17 CEX and 61 DEX venues · held out: 62026-06-13: reported 9.04%, adjusted 9.83% · 17 CEX and 61 DEX venues · held out: 52026-06-14: reported 8.32%, adjusted 9.07% · 17 CEX and 58 DEX venues · held out: 52026-06-15: reported 10.25%, adjusted 11.19% · 17 CEX and 59 DEX venues · held out: 32026-06-16: reported 8.68%, adjusted 9.46% · 17 CEX and 63 DEX venues · held out: 32026-06-17: reported 9.70%, adjusted 10.46% · 17 CEX and 64 DEX venues · held out: 32026-06-18: reported 9.75%, adjusted 10.58% · 17 CEX and 62 DEX venues · held out: 72026-06-19: reported 12.01%, adjusted 11.98% · 15 CEX and 61 DEX venues · held out: 62026-06-20: reported 10.82%, adjusted 10.80% · 15 CEX and 60 DEX venues · held out: 22026-06-21: reported 10.63%, adjusted 10.63% · 15 CEX and 61 DEX venues2026-06-22: reported 9.70%, adjusted 9.69% · 15 CEX and 59 DEX venues · held out: 12026-06-23: reported 12.26%, adjusted 12.06% · 15 CEX and 63 DEX venues · held out: 72026-06-24: reported 11.24%, adjusted 11.23% · 15 CEX and 67 DEX venues · held out: 32026-06-25: reported 11.03%, adjusted 10.56% · 15 CEX and 64 DEX venues · held out: 92026-06-26: reported 9.87%, adjusted 9.76% · 15 CEX and 66 DEX venues · held out: 82026-06-27: reported 10.88%, adjusted 10.85% · 15 CEX and 64 DEX venues · held out: 82026-07-01: reported 8.44%, adjusted 9.06% · 17 CEX and 62 DEX venues · held out: 52026-07-02: reported 7.95%, adjusted 8.72% · 19 CEX and 65 DEX venues · held out: 52026-07-03: reported 10.05%, adjusted 10.84% · 19 CEX and 64 DEX venues · held out: 22026-07-04: reported 8.90%, adjusted 9.68% · 19 CEX and 59 DEX venues · held out: 22026-07-05: reported 7.87%, adjusted 7.84% · 19 CEX and 62 DEX venues · held out: 42026-07-06: reported 5.00%, adjusted 5.46% · 19 CEX and 59 DEX venues · held out: 12026-07-07: reported 8.21%, adjusted 8.91% · 19 CEX and 65 DEX venues · held out: 22026-07-08: reported 6.89%, adjusted 7.45% · 19 CEX and 63 DEX venues · held out: 42026-07-09: reported 7.66%, adjusted 8.24% · 23 CEX and 64 DEX venues · held out: 42026-07-10: reported 9.61%, adjusted 9.49% · 23 CEX and 94 DEX venues · held out: 192026-07-11: reported 13.18%, adjusted 13.16% · 23 CEX and 92 DEX venues · held out: 162026-07-12: reported 8.75%, adjusted 8.44% · 21 CEX and 91 DEX venues · held out: 102026-07-13: reported 5.48%, adjusted 5.24% · 21 CEX and 92 DEX venues · held out: 112026-07-14: reported 10.96%, adjusted 10.23% · 20 CEX and 93 DEX venues · held out: 82026-07-15: reported 11.12%, adjusted 10.27% · 21 CEX and 97 DEX venues · held out: 112026-07-16: reported 9.90%, adjusted 10.36% · 21 CEX and 95 DEX venues · held out: 72026-07-17: reported 11.63%, adjusted 9.73% · 21 CEX and 93 DEX venues · held out: 32026-07-18: reported 17.06%, adjusted 15.08% · 21 CEX and 91 DEX venues · held out: 32026-07-19: reported 8.71%, adjusted 8.71% · 21 CEX and 91 DEX venues · held out: 12026-07-20: reported 6.21%, adjusted 6.21% · 21 CEX and 93 DEX venues · held out: 22026-07-21: reported 10.96%, adjusted 10.95% · 21 CEX and 94 DEX venues · held out: 42026-07-22: reported 10.50%, adjusted 10.47% · 21 CEX and 89 DEX venues · held out: 62026-07-23: reported 10.24%, adjusted 9.67% · 21 CEX and 90 DEX venues · held out: 72026-08-01: reported 16.67%, adjusted 16.67% · 21 CEX and 90 DEX venues2026-08-02: reported 6.47%, adjusted 6.70% · 23 CEX and 91 DEX venues · held out: 12026-08-03: reported 6.28%, adjusted 6.46% · 23 CEX and 90 DEX venues · held out: 12026-08-04: reported 10.62%, adjusted 10.39% · 21 CEX and 87 DEX venues · held out: 102026-08-23: reported 8.17%, adjusted 9.64% · 23 CEX and 88 DEX venues · held out: 12026-08-24: reported 7.22%, adjusted 8.37% · 23 CEX and 89 DEX venues · held out: 12026-08-25: reported 9.01%, adjusted 9.68% · 23 CEX and 86 DEX venues · held out: 12026-08-26: reported 11.77%, adjusted 12.96% · 23 CEX and 87 DEX venues · held out: 32026-08-27: reported 8.42%, adjusted 8.75% · 23 CEX and 87 DEX venues · held out: 42026-08-28: reported 8.98%, adjusted 9.53% · 23 CEX and 86 DEX venues · held out: 42026-08-29: reported 17.90%, adjusted 18.52% · 23 CEX and 87 DEX venues · held out: 42026-08-30: reported 8.26%, adjusted 8.68% · 23 CEX and 86 DEX venues · held out: 52026-08-31: reported 6.29%, adjusted 6.59% · 23 CEX and 86 DEX venues · held out: 52026-09-01: reported 9.46%, adjusted 9.70% · 23 CEX and 90 DEX venues · held out: 22026-09-02: reported 8.58%, adjusted 8.75% · 23 CEX and 85 DEX venues · held out: 62026-09-03: reported 7.96%, adjusted 8.24% · 23 CEX and 88 DEX venues · held out: 42026-09-04: reported 7.37%, adjusted 9.56% · 23 CEX and 88 DEX venues · held out: 72026-09-05: reported 17.08%, adjusted 17.50% · 23 CEX and 85 DEX venues · held out: 72026-09-06: reported 7.39%, adjusted 7.50% · 23 CEX and 84 DEX venues · held out: 62026-09-07: reported 9.33%, adjusted 9.58% · 23 CEX and 84 DEX venues · held out: 82026-09-08: reported 7.62%, adjusted 7.84% · 23 CEX and 86 DEX venues · held out: 42026-09-09: reported 9.26%, adjusted 9.50% · 23 CEX and 86 DEX venues · held out: 62026-09-10: reported 9.10%, adjusted 9.56% · 23 CEX and 87 DEX venues · held out: 52026-09-11: reported 7.84%, adjusted 8.18% · 23 CEX and 89 DEX venues · held out: 32026-09-12: reported 13.94%, adjusted 14.36% · 23 CEX and 90 DEX venues · held out: 82026-09-13: reported 7.62%, adjusted 7.89% · 23 CEX and 89 DEX venues · held out: 72026-09-14: reported 6.89%, adjusted 7.29% · 22 CEX and 89 DEX venues · held out: 52026-09-15: reported 10.24%, adjusted 10.66% · 22 CEX and 91 DEX venues · held out: 22026-09-16: reported 10.82%, adjusted 11.51% · 22 CEX and 89 DEX venues · held out: 52026-09-17: reported 9.58%, adjusted 10.01% · 21 CEX and 90 DEX venues · held out: 82026-09-18: reported 8.06%, adjusted 8.65% · 21 CEX and 91 DEX venues · held out: 52026-09-19: reported 9.75%, adjusted 14.70% · 21 CEX and 93 DEX venues · held out: 62026-09-20: reported 7.41%, adjusted 8.91% · 21 CEX and 92 DEX venues · held out: 72026-09-21: reported 7.40%, adjusted 8.47% · 21 CEX and 92 DEX venues · held out: 62026-09-23: reported 9.15%, adjusted 9.87% · 21 CEX and 92 DEX venues · held out: 52026-09-24: reported 8.80%, adjusted 9.45% · 21 CEX and 94 DEX venues · held out: 42026-09-25: reported 9.40%, adjusted 9.85% · 21 CEX and 94 DEX venues · held out: 79.9% adjusted9.4% reported
06-0507-0108-0109-01

83 captured days from 2026-06-05 to 2026-09-25. 4 gaps in the stored captures break the lines; no value is drawn across a gap. Zero baseline. Tracked CEX venues on the newest day: 21. Tracked DEX venues: 94.

Data table (83 days)
DayReported DEX shareAdjusted DEX shareHeld-out venues
2026-09-259.40%9.85%7
2026-09-248.80%9.45%4
2026-09-239.15%9.87%5
2026-09-217.40%8.47%6
2026-09-207.41%8.91%7
2026-09-199.75%14.70%6
2026-09-188.06%8.65%5
2026-09-179.58%10.01%8
2026-09-1610.82%11.51%5
2026-09-1510.24%10.66%2
2026-09-146.89%7.29%5
2026-09-137.62%7.89%7
2026-09-1213.94%14.36%8
2026-09-117.84%8.18%3
2026-09-109.10%9.56%5
2026-09-099.26%9.50%6
2026-09-087.62%7.84%4
2026-09-079.33%9.58%8
2026-09-067.39%7.50%6
2026-09-0517.08%17.50%7
2026-09-047.37%9.56%7
2026-09-037.96%8.24%4
2026-09-028.58%8.75%6
2026-09-019.46%9.70%2
2026-08-316.29%6.59%5
2026-08-308.26%8.68%5
2026-08-2917.90%18.52%4
2026-08-288.98%9.53%4
2026-08-278.42%8.75%4
2026-08-2611.77%12.96%3
2026-08-259.01%9.68%1
2026-08-247.22%8.37%1
2026-08-238.17%9.64%1
2026-08-0410.62%10.39%10
2026-08-036.28%6.46%1
2026-08-026.47%6.70%1
2026-08-0116.67%16.67%0
2026-07-2310.24%9.67%7
2026-07-2210.50%10.47%6
2026-07-2110.96%10.95%4
2026-07-206.21%6.21%2
2026-07-198.71%8.71%1
2026-07-1817.06%15.08%3
2026-07-1711.63%9.73%3
2026-07-169.90%10.36%7
2026-07-1511.12%10.27%11
2026-07-1410.96%10.23%8
2026-07-135.48%5.24%11
2026-07-128.75%8.44%10
2026-07-1113.18%13.16%16
2026-07-109.61%9.49%19
2026-07-097.66%8.24%4
2026-07-086.89%7.45%4
2026-07-078.21%8.91%2
2026-07-065.00%5.46%1
2026-07-057.87%7.84%4
2026-07-048.90%9.68%2
2026-07-0310.05%10.84%2
2026-07-027.95%8.72%5
2026-07-018.44%9.06%5
2026-06-2710.88%10.85%8
2026-06-269.87%9.76%8
2026-06-2511.03%10.56%9
2026-06-2411.24%11.23%3
2026-06-2312.26%12.06%7
2026-06-229.70%9.69%1
2026-06-2110.63%10.63%0
2026-06-2010.82%10.80%2
2026-06-1912.01%11.98%6
2026-06-189.75%10.58%7
2026-06-179.70%10.46%3
2026-06-168.68%9.46%3
2026-06-1510.25%11.19%3
2026-06-148.32%9.07%5
2026-06-139.04%9.83%5
2026-06-129.24%10.13%6
2026-06-1111.44%12.47%2
2026-06-109.54%10.41%4
2026-06-099.57%10.43%1
2026-06-089.34%10.24%5
2026-06-079.72%10.73%1
2026-06-0612.29%13.59%1
2026-06-0512.10%13.36%1
Stored daily captures · percent of tracked volume

DEX share of tracked perpetual volume, by month

Adjusted (held-out venues removed)Reported
10.5%
11.1%
9.2%
9.2%
9.3%
9.9%
9.0%
9.7%
Jun 202623/30 days
Jul 202623/31 days
Aug 202613/31 days
Sep 202624/30 days

Zero baseline · scale 0–12.0% · volume-weighted over the captured days of each month

DEX share of tracked perpetual volume, by month: data table
MonthCaptured daysReported DEX shareAdjusted DEX share
Jun 202623 of 3010.5%11.1%
Jul 202623 of 319.2%9.2%
Aug 202613 of 319.3%9.9%
Sep 202624 of 309.0%9.7%
Each month sums DEX and CEX volume over its captured days. Days without both CEX and DEX figures are left out, not filled. The tracked venue set changes over time. Monthly CSV.

Method

CEX figures are the 24h perpetual volumes from each venue's own ticker API. DEX figures come from the DefiLlama perpetual DEX list. PerpFinder stores both once a day. The totals cover the venues that PerpFinder tracks, so they are not a full market total.

A venue is held out of the adjusted figures when one of three rules applies:

  1. Unverified. The venue is in the unverified tier. Its reported volume stays out of every PerpFinder total until an editorial review removes it. See the volume-quality methodology.
  2. Spike. The 24h figure is more than 3 times the venue's own median of the 7 stored days before it. The rule needs at least 3 of those days. It applies to CEX and DEX venues. For the 7-day figures, a spike on any day of the window holds the venue out.
  3. Depth. For a CEX venue, the newest volume-quality sweep read the BTC and ETH order books. No test order from $10,000 filled on both books. A venue that the sweep does not measure is not held out. A missing measurement is a gap on our side, not a finding about the venue.

The 7-day figure is the sum of the venue's 24h figures on 7 consecutive daily captures. A venue with a missing day has no 7-day figure. Capture times differ by some hours from day to day, so each 24h figure covers a slightly different window.

The headline volume on other PerpFinder pages applies the unverified and spike rules to CEX venues. This page also applies the spike rule to DEX venues and adds the depth rule. Machine-readable data: API documentation.

Terms used on this page

Reported volume (24h/7d/30d)
Reported volume is the trading volume that the venue or its data source publishes, in USD notional, for the last 24 hours, 7 days or 30 days.
Adjusted volume (reported vs adjusted)
Adjusted volume is the reported volume of the tracked venues with each held-out venue removed. PerpFinder does not scale, replace or estimate a venue figure.

Cite this data

Use the page address and the capture date. The permalink returns the ranking for that one stored day file, so later captures do not change it.

PerpFinder. "Perpetual volume ranking: reported and adjusted." Daily capture 2026-09-25, 2026-09-25 00:10 UTC. https://perpfinder.com/perp-volume-ranking
Data: https://perpfinder.com/api/data/volume-ranking?date=2026-09-25&window=24h
PF

PerpFinder editorial

small independent publisher

Small independent operation. It tracks 100+ perpetual futures venues with automatic exchange data and editorial reviews.

Written by:PerpFinder editorial
Data reviewed by:PerpFinder data
Editorially reviewed by:PerpFinder review
Originally published:
Last editorial review:
Market-data snapshot: (stored daily snapshot; live feeds show their own timestamps)

These three names are functions, not separate departments. One small group does all three jobs. We do not publish individual names.

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