POPA ReconTop Perpetual DEXs by Open Interest
Top Perpetual DEXs by Open Interest About $17.2B in open interest sits across the top ten perp DEXs, and nearly half of it is on one venue: • Hyperliquid – $8.32B • TradeXYZ – $3.88B • Aster – $1.41B • Variational – $909M • Lighter – $834M • edgeX – $613M • Grvt – $470M • Antarctic – $357M • QFEX – $249M • Pendle – $163M The real concentration is higher than the chart shows. tradeXYZ is built on Hyperliquid through HIP-3, so together they hold ~71% of all perp DEX open interest. tradeXYZ's profile is different too. It has the second-highest OI on only $53.7B in volume, because traders hold…
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