POPA ReconTop Perpetual DEXs by Open Interest
Top Perpetual DEXs by Open Interest Open interest shows how much capital is actually sitting in live positions — the truest read on a venue's depth. Current standings: • Hyperliquid - $10.5B • Aster - $1.95B • Variational - $1.27B • Lighter - $871M • edgeX - $405M • Grvt - $354M • GMTrade - $262M • Antarctic - $253M • Extended - $182M • ApeX - $119M Hyperliquid holds 65% of all open interest, nearly double the other nine combined, and $52M in 30-day fees against $14.3M for everyone else together. Volume and OI often disagree. ApeX sits last on OI but ran $33B in volume, 277x turnover on it…
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