Overview of Major Perpetual DEXs: Most Platforms Have Trading Volumes Below $3B, Lighter's Volume Continues to Decline

Overview of Major Perpetual DEXs: Most Platforms Have Trading Volumes Below $3B, Lighter's Volume Continues to Decline

2025-12-29 21:19

ChainThink report, December 29: According to DefiLlama data, mainstream Perp DEX trading volume declined significantly over the weekend, with most platforms recording less than $3 billion in 24-hour trading volume. Aster currently leads the rankings, possibly due to the completion of the final quarterly token distribution last week. Lighter is approaching launch but its trading volume has been steadily declining. Additionally, Hyperliquid's open interest has seen a slight increase. Current 24-hour trading volumes for select Perp DEXs are as follows:


Aster 24-hour trading volume ~$4.07 billion, TVL ~$1.25 billion, open interest ~$2.46 billion;


Lighter 24-hour trading volume ~$2.51 billion, TVL ~$1.39 billion, open interest ~$1.49 billion;


Hyperliquid 24-hour trading volume ~$1.84 billion, TVL ~$4.14 billion, open interest ~$7.45 billion;


EdgeX 24-hour trading volume ~$1.245 billion, TVL ~$357 million, open interest ~$754 million;


ApeX 24-hour trading volume ~$1.244 billion, TVL ~$45.9 million, open interest ~$240 million;


Pacifica 24-hour trading volume ~$540 million, TVL ~$41.1 million, open interest ~$58.67 million.

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

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