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Overview of Major Perp DEXs: Market Enters a Wait-and-See Phase as Hyperliquid Trading Volume Declines While Open Interest Rises Again

Overview of Major Perp DEXs: Market Enters a Wait-and-See Phase as Hyperliquid Trading Volume Declines While Open Interest Rises Again

2026-03-12 18:59

ChainThink report, March 12: According to data from DefiLlama, overall trading volume on-chain for Perp DEX markets continues to decline, yet open interest remains elevated, indicating that leveraged capital has not significantly exited. Hyperliquid's position size rises again, reaching a near-one-month high. Current 24-hour trading volume rankings among major Perp DEXs are as follows:


Hyperliquid 24-hour trading volume approximately $6.48 billion, open interest around $6.41 billion;


Aster 24-hour trading volume approximately $2.43 billion, open interest around $1.94 billion;


EdgeX 24-hour trading volume approximately $1.96 billion, open interest around $1.08 billion;


Lighter 24-hour trading volume approximately $1.86 billion, open interest around $676 million;


Grvt 24-hour trading volume approximately $1.50 billion, open interest around $491 million;


Pacifica 24-hour trading volume approximately $454 million, open interest around $67.83 million.

Disclaimer: Contains third-party opinions, does not constitute financial advice

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