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Perp DEX Rankings
Onchain perpetual futures venues ranked by open interest, with each venue's share of the market and how it moved over 7 and 30 days. Data from DefiLlama, refreshed every day by Castle Labs.
As of 6 October 2026, Hyperliquid leads onchain perps with 59% of open interest ($8.70B), followed by Aster (9.7%) and Variational (7.8%). Tracked onchain perp open interest is $14.77B, up 22% over 30 days.
Perp DEXs by open interest
Updated 6 October 2026 · 52 venues tracked| # | Venue | Open interest | Share | 7d | 30d | Chains | Castle research |
|---|---|---|---|---|---|---|---|
| 1 | Hyperliquid | $8.70B | 59% | +1.6% | +23% | Hyperliquid L1 | Perp report: Hyperliquid |
| 2 | Aster | $1.44B | 9.7% | +1.0% | +15% | Offchain | Covered in the perp report |
| 3 | Variational | $1.15B | 7.8% | +11% | +37% | Arbitrum | Variational swaps analysis |
| 4 | Lighterincl. Lighter Perps, Lighter Robinhood Perps | $848.4M | 5.7% | +1.4% | +23% | zkLighter, Robinhood Chain | Covered in the perp report |
| 5 | Grvt | $481.7M | 3.3% | +2.0% | +9.8% | GRVT | - |
| 6 | Antarctic | $363.1M | 2.5% | +4.7% | +7.8% | Offchain | - |
| 7 | edgeX V2 | $224.0M | 1.5% | -0.5% | -24% | edgeX L1 | Covered in the perp report |
| 8 | GMXincl. GMX V2 Perps, GMX Solana | $163.2M | 1.1% | -0.4% | +61% | Arbitrum, Avalanche | Covered in the perp report |
| 9 | QFEX | $142.9M | 1.0% | +6.0% | +29% | Offchain | Covered in the perp report |
| 10 | SoDEX | $121.5M | 0.8% | +34% | +252% | ValueChain | - |
| 11 | Extended | $100.9M | 0.7% | +10% | +10% | Ethereum, Starknet | Covered in the perp report |
| 12 | Vest Markets | $96.7M | 0.7% | +2.4% | +4.9% | Offchain | - |
| 13 | Ondo | $89.1M | 0.6% | +1.4% | +6.2% | Offchain | Covered in the perp report |
| 14 | Polymarket | $89.1M | 0.6% | +17% | n/a | Offchain | Covered in the perp report |
| 15 | Apex Omni | $79.0M | 0.5% | +3.9% | +8.6% | Ethereum | - |
| 16 | Pacifica | $67.9M | 0.5% | +19% | +28% | Offchain | Covered in the perp report |
| 17 | Veranta | $65.2M | 0.4% | +4.3% | +532% | Base | - |
| 18 | Arcus | $60.6M | 0.4% | +104% | +290% | Robinhood Chain | - |
| 19 | Primit | $52.5M | 0.4% | -12% | n/a | Avalanche | - |
| 20 | dYdX V4 | $50.1M | 0.3% | +13% | -17% | dYdX | - |
| 21 | Jupiter Perpetual Exchange | $49.3M | 0.3% | +4.4% | +36% | Solana | Covered in the perp report |
| 22 | Nado | $47.0M | 0.3% | +7.8% | +17% | Ink | - |
| 23 | RISEx | $38.3M | 0.3% | +23% | +42% | RISE | - |
| 24 | PopDEX | $38.1M | 0.3% | n/a | n/a | Morph_tachyon | - |
| 25 | TxFlow | $28.1M | 0.2% | +7.9% | +139% | TxFlow | - |
Source: DefiLlama open interest overview. Prediction markets and options venues excluded. Raw data: perps.json
Beyond open interest
Which venues hold positions, and which churn them?
Open interest shows size. Turnover, take rate and execution cost show quality. Our October 2026 report, Mapping the Perpetual Trading Ecosystem, compares the leading venues on design, fees, slippage, depth and funding with live order-book data.
| Venue | Avg daily volume | Avg daily OI | Turnover (x/day) | Take rate |
|---|---|---|---|---|
| QFEX | $182.4M | $217.6M | 0.84x | Not tracked |
| Hyperliquid | $7.90B | $6.79B | 1.16x | 2.6 bps |
| Variational | $1.29B | $772.9M | 1.66x | Not tracked |
| Polymarket Perps | $94.6M | $49.3M | 1.92x | Not tracked |
| edgeX | $1.38B | $572.7M | 2.42x | 0.9 bps |
| GMX | $86.9M | $32.2M | 2.70x | 2.7 bps |
| Lighter | $1.80B | $629.4M | 2.87x | 0.8 bps |
| Ondo Perps | $133.4M | $46.1M | 2.89x | Not tracked |
| Extended | $258.9M | $87.5M | 2.96x | 2.33 bps |
| Jupiter Perps | $237.8M | $34.8M | 6.83x | 3.7 bps |
| Pacifica | $402.3M | $48.5M | 8.30x | 3.0 bps |
| GMTrade | $796.6M | $90.6M | 8.79x | 0.4 bps |
| Kalshi | $886.0M | $30.7M | 28.86x | Not tracked |
Source: DefiLlama daily volume, open-interest and fee series
Perp DEX FAQs
- Which perp DEX has the most open interest today?
- As of 6 October 2026, Hyperliquid leads onchain perps with 59% of open interest ($8.70B), followed by Aster (9.7%) and Variational (7.8%). Tracked onchain perp open interest is $14.77B, up 22% over 30 days.
- How is perp DEX market share calculated here?
- Each venue's share is its current open interest divided by the total open interest of the onchain perp venues tracked by DefiLlama's open-interest overview. Prediction markets and options venues are excluded. The data refreshes daily.
- Is open interest the best way to rank perp DEXs?
- Open interest shows how much capital traders keep in positions, so it is harder to inflate with wash trading than volume. Castle's perp report pairs it with turnover (volume divided by open interest), take rate and live execution cost to separate sticky venues from incentive-driven ones.
- Where can I compare perp DEX fees, slippage and depth?
- Castle Labs' report Mapping the Perpetual Trading Ecosystem compares Hyperliquid, Lighter, Variational, TradeXYZ, Ondo and QFEX with Binance, Bybit and OKX on cost to open, slippage, resting depth, funding and index quality using live order-book data.
More perp research in the Perp DEX & Onchain Trading hub.