Why does comparing perp DEXes matter?

Fees, liquidity, and execution quality vary significantly across protocols. A 0.01% difference in taker fees adds up fast for active traders. Some protocols offer zero maker fees or rebates. Beyond fees, look at 24h volume (liquidity depth), open interest (capital deployed), and funding rates (cost of holding positions).

Where does PerpFinder get its data?

Rankings update in real time using data from DefiLlama (DEX volume and fees), Coinalyze (CEX volume, open interest, funding rates, liquidations), and direct on-chain sources like Hyperliquid and dYdX APIs.

All Perpetual Futures Exchanges

—LIVE API33 DEX

Top Exchanges by Volume

$4.84b$3.63b$2.42b$1.21b-

Hyperliq..

Aster Pe..

edgeX Pe..

Lighter ..

GMTrade

Ostium

Jupiter ..

GMX V2 P..

Extended

Nado Per..

Apex Omn..

Antarcti..

dYdX V4

Bounce.T..

Decibel

Avantis

Hyperliq..

Gains Ne..

Aark Dig..

Derive V..

PerpFinder

50 exchanges

		Volume					Fees
#
1	HyperliquidHyperliquidHyperliquid L1	$4.84b+24.9%	$40.84b	$165.36b	-	-	-	-	-	Trade4% off trading fees
2	AsterAsterOff Chain	$1.68b-5.0%	$13.31b	$55.76b	-	-	-	-	-	Trade10% point bonus
3	edgeXedgeXedgeX L1, Ethereum	$1.65b+6.8%	$8.04b	$33.59b	-	-	-	-	-	Trade10% point bonus
4	LighterLighterzkLighter	$764.8m+3.8%	$6.23b	$26.94b	-	-	-	-	-	Trade10% point bonus
5	GMTradeGMTradeSolana	$605.1m+51.3%	$2.91b	$5.47b	-	-	-	-	-	Trade10% off trading fees
6	OstiumOstiumArbitrum	$472.7m-16.2%	$2.40b	$12.19b	-	-	-	-	-	Trade10% point bonus
7	JupiterJupiterSolana	$319.7m+28.4%	$3.03b	$13.05b	-	-	-	-	-	TradeFee discount + JUP airdrop
8	GMXGMXArbitrum, Avalanche	$299.9m+168.2%	$1.57b	$6.63b	-	-	-	-	-	Trade10% off every trade
9	ExtendedExtendedStarknet	$262.0m+26.3%	$1.60b	$6.62b	-	-	-	-	-	Trade20% point bonus
10	NadoNadoInk	$109.3m-9.3%	$890.9m	$3.62b	-	-	-	-	-	TradePoint farming bonus
11	ApexApexEthereum, Arbitrum	$90.7m+199.8%	$330.4m	$1.21b	-	-	-	-	-	Trade20% off every trade
12	AntarcticAntarcticOff Chain	$89.9m+27.0%	$646.1m	$2.75b	-	-	-	-	-	Trade10% point bonus
13	dYdXdYdXdYdX	$70.3m-65.1%	$127.2m	$833.8m	-	-	-	-	-	TradeFee tier 3 instantly
14	Bounce.TechBounce.TechHyperliquid L1	$41.4m-45.9%	$581.2m	$587.8m	-	-	-	-	-	Trade
15	DecibelDecibelAptos	$40.6m+16.6%	$309.9m	$923.8m	-	-	-	-	-	Trade
16	AvantisAvantisBase	$38.7m+82.1%	$303.6m	$1.76b	-	-	-	-	-	Trade15% off trading fees
17	Hyperliquid HLPHyperliquid HLPHyperliquid L1	$38.5m+25.6%	$258.5m	$1.03b	-	-	-	-	-	Trade
18	GainsGainsPolygon, Arbitrum, Base +2	$28.2m+14.4%	$160.8m	$753.3m	-	-	-	-	-	TradeFee discount via referral on gTrade
19	Aark DigitalAark DigitalArbitrum	$20.4m-2.4%	$121.9m	$287.6m	-	-	-	-	-	Trade
20	DeriveDeriveDerive Chain	$19.9m+12.2%	$130.9m	$546.3m	-	-	-	-	-	Trade
21	SynFuturesSynFuturesBlast, Base	$13.1m-7.5%	$105.4m	$450.8m	-	-	-	-	-	Trade
22	DangoDangoDango Mainnet	$12.4m+11.8%	$78.4m	$266.5m	-	-	-	-	-	Trade
23	EtherealEtherealEthereal	$11.5m+49.1%	$84.9m	$326.1m	-	-	-	-	-	Trade
24	SoDEXSoDEXValueChain	$10.6m-0.6%	$81.7m	$333.5m	-	-	-	-	-	Trade
25	FlashTradeFlashTradeSolana	$9.5m+13.1%	$86.5m	$327.7m	-	-	-	-	-	Trade
26	LeverUpLeverUpMonad	$9.4m-0.1%	$58.4m	$250.6m	-	-	-	-	-	Trade
27	ParadexParadexParadex, Ethereum	$8.8m+61.1%	$64.3m	$291.3m	-	-	-	-	-	Trade10% point bonus
28	World MarketsWorld MarketsMegaETH	$7.8m-33.0%	$138.3m	$1.19b	-	-	-	-	-	Trade
29	OrderlyOrderlyOrderly Network	$6.7m+28.9%	$55.1m	$319.2m	-	-	-	-	-	TradeEarn Orderly points on every trade
30	Strike Finance PerpetualsStrike Finance Perp…Cardano	$6.3m+350.9%	$17.1m	$123.2m	-	-	-	-	-	Trade
31	ReyaReyaReyaChain	$5.3m-19.3%	$52.4m	$258.5m	-	-	-	-	-	Trade10% point bonus
32	DipCoinDipCoinSui	$4.3m+68.2%	$21.1m	$72.1m	-	-	-	-	-	Trade
33	FulcromFulcromCronos, ZKsync Era, Cronos zkEVM	$4.1m+44.9%	$37.5m	$190.1m	-	-	-	-	-	Trade
34	BorosBorosArbitrum	$4.0m+29.0%	$26.2m	$113.3m	-	-	-	-	-	Trade
35	KatanaKatanaKatana	$3.5m+220.2%	$10.1m	$68.3m	-	-	-	-	-	Trade
36	MoonlanderMoonlanderCronos zkEVM, Cronos	$3.0m-38.9%	$32.0m	$242.4m	-	-	-	-	-	Trade
37	BluefinBluefinSui	$2.7m-42.0%	$46.4m	$174.3m	-	-	-	-	-	Trade
38	Vest MarketsVest MarketsOff Chain	$2.5m+73.0%	$17.4m	$74.0m	-	-	-	-	-	Trade
39	StormStormTON	$1.3m+41.4%	$21.9m	$67.2m	-	-	-	-	-	Trade
40	LavarageLavarageSolana	$1.0m+33.1%	$9.5m	$95.9m	-	-	-	-	-	Trade
41	Bullbit PERPBullbit PERPOff Chain	$764.0k-54.4%	$8.6m	$33.8m	-	-	-	-	-	Trade
42	SaiSaiNibiru	$702.0k+222.0%	$3.8m	$7.9m	-	-	-	-	-	Trade
43	RocketRocketOff Chain	$266.0k-48.3%	$1.9m	$18.8m	-	-	-	-	-	Trade
44	MUXMUXBSC, Avalanche, Arbitrum +2	$244.0k-15.3%	$5.9m	$19.8m	-	-	-	-	-	Trade
45	SudoSudoSui	$228.0k+32.6%	$3.9m	$44.5m	-	-	-	-	-	Trade
46	SparkDEXSparkDEXFlare	$172.0k+22.9%	$14.4m	$52.9m	-	-	-	-	-	Trade
47	foxifyfoxifySonic	$144.0k-40.0%	$886.0k	$6.4m	-	-	-	-	-	Trade
48	AdrenaAdrenaSolana	$136.0k+4.6%	$1.1m	$4.1m	-	-	-	-	-	Trade
49	TxFlowTxFlowTxFlow	$68.0k-74.2%	$1.2m	$19.9m	-	-	-	-	-	Trade
50	PinguPinguArbitrum, Monad	$66.0k+65.0%	$656.0k	$5.8m	-	-	-	-	-	Trade

Find the best perp DEX for your use case

Data-ranked picks for low fees, high leverage, no-KYC, Solana, beginners, and more — see the full best-perp-DEX hub.

Lowest fees →Highest leverage →No-KYC →Best on Solana →For beginners →Safest →Most pairs →Airdrop farming →

All tracked perpetual DEXes

Reviews and live data for every perpetual futures DEX we cover, including newer or lower-volume protocols not shown in the top-volume table above.

How Perpetual Futures DEXes Work

Perpetual futures DEXes let you trade leveraged long and short positions directly from your wallet — no sign-ups, no KYC, no custodial risk. Protocols like Hyperliquid, dYdX, and GMX match trades on-chain (or via off-chain orderbooks with on-chain settlement), giving you full control of your funds at all times. If you're new to the concept, our guide on what perpetual futures are covers the fundamentals.

Comparing perp DEXes matters because fees, liquidity, and execution quality vary significantly. A 0.01% difference in taker fees adds up fast for active traders — and some protocols offer zero maker fees or rebates. Beyond fees, look at 24h trading volume (indicating liquidity depth), open interest (showing how much capital is deployed), and funding rates (which affect the cost of holding positions). If you want a step-by-step walkthrough, our guide on how to trade perps on a DEX covers everything from connecting a wallet to managing risk.

The rankings above update in real time using data from DefiLlama and on-chain sources. For a deeper breakdown of which protocols suit different trading styles, see our best perp DEX picks for 2026. You can also explore open interest rankings to see where capital is concentrated, or view volume by chain to compare blockchain ecosystems. To understand how holding costs work across exchanges, read our explainer on understanding funding rates.