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Overview of Major Perp DEXs: Unfilled Contract Volume Increases Across Platforms While TVL Declines, Indicating Elevated Market Risk Appetite

Overview of Major Perp DEXs: Unfilled Contract Volume Increases Across Platforms While TVL Declines, Indicating Elevated Market Risk Appetite

2025-12-09 18:52

ChainThink report, December 9: According to DefiLlama data, open interest across various Perp DEX platforms rose over the past 24 hours, accompanied by a decline in TVL, indicating slight capital outflow. However, existing or new capital is increasing leverage or opening new positions, reflecting heightened market speculation and risk appetite. Current 24-hour trading volumes for selected Perp DEXs are as follows:


Lighter 24-hour volume ~$8.61 billion, TVL ~$1.36 billion, open interest ~$1.74 billion;


Hyperliquid 24-hour volume ~$6.2 billion, TVL ~$4.38 billion, open interest ~$6.54 billion;


Aster 24-hour volume ~$5.78 billion, TVL ~$1.39 billion, open interest ~$2.61 billion;


EdgeX 24-hour volume ~$4.71 billion, TVL ~$406 million, open interest ~$810 million;


ApeX 24-hour volume ~$3.35 billion, TVL ~$46.6 million, open interest ~$90.82 million;


Backpack 24-hour volume ~$1.1 billion, TVL not yet disclosed, open interest ~$207 million;


Variational 24-hour volume ~$1.03 billion, TVL ~$72.86 million, open interest ~$320 million;


Pacifica 24-hour volume ~$682 million, TVL ~$42.24 million, open interest ~$66.66 million.

#ASTER

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

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