Tokenless Perpetuals by Open Interest

Top 7 | Tech, AI & Crypto Analytics (@top7ico), Jun 25, 2026, 11:32 UTC

Tokenless Perpetuals by Open Interest These are the perp DEXs still running without a token - meaning every one of them is a live airdrop bet. Ranked by open interest: • TradeXYZ - $3.04B OI • Variational - $1.05B OI • GRVT - $365M OI • Antarctic - $241M OI • GMtrade - $202M OI • Ostium - $189M OI • Extended - $183M OI • StandX - $85M OI • Pacifica - $79M OI • Vest - $74M OI OI shows who holds capital, but volume tells the real activity story and they don't always line up. TradeXYZ leads on both, but GRVT and StandX punch far above their OI ($40.8B and $24.2B traded on small open…

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