Derivatives
0.03%
−0.00%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
96 PENDLE 96Pendle | $2.10 | 5.88% | 18.37% | 53.35% | $361.89 M | $592.62 M | $42.45 M | |||
219 DYDX 219dYdX | $0.1235 | 2.58% | 12.30% | 5.51% | $104.50 M | $118.36 M | $6.33 M | |||
243 SNX 243Synthetix | $0.2276 | −29.83% | 27.67% | 24.36% | $78.41 M | $153.20 M | $22.02 M | |||
261 GMX 261GMX | $8.00 | 5.14% | 2.44% | 26.12% | $83.65 M | $83.44 M | $7.88 M | |||
289 FTT 289FTX Token | $0.2213 | 0.22% | −2.19% | 8.48% | $72.78 M | $72.98 M | $482,606.05 | |||
464 APEX 464ApeX | $0.2636 | 4.69% | −1.93% | 19.54% | $38.54 M | $131.40 M | $1.41 M | |||
474 AVNT 474Avantis | $0.1061 | −0.55% | 5.86% | 23.79% | $37.41 M | $106.00 M | $3.32 M | |||
488 UMA 488UMA | $0.396 | 1.07% | 6.51% | 16.61% | $36.03 M | $51.45 M | $3.04 M | |||
713 AEVO 713Aevo | $0.02399 | 0.94% | 3.47% | 21.25% | $22.38 M | $24.02 M | $14.12 M | |||
851 MYX 851MYX Finance | $0.0719 | −3.82% | 1.22% | −3.77% | $16.91 M | $71.77 M | $6.60 M | |||
885 BASED 885Based | $0.06697 | −3.42% | −6.39% | −21.37% | $15.74 M | $66.84 M | $6.16 M | |||
1088 HEGIC 1088Hegic | $0.01523 | 1.76% | −0.62% | 8.61% | $10.72 M | $45.87 M | $194.09 | |||
1096 STRIKE 1096Strike | $0.5812 | −0.85% | 11.21% | 41.61% | $10.46 M | $5.81 B | $14,886.03 | |||
1255 1255 SYMMIO | $0.009806 | −0.07% | −13.32% | 39.89% | $7.96 M | $8.39 M | $5,712.13 | |||
1287 MCB 1287MUX Protocol | $1.96 | −1.51% | 1.03% | −7.55% | $7.49 M | $9.41 M | $2,422.63 | |||
1376 DNT 1376district0x | $0.006505 | −2.33% | −10.80% | 29.47% | $6.51 M | $6.51 M | $5,460.38 | |||
1410 LV 1410leverup | $0.0685 | 4.85% | −0.96% | 31.27% | $6.17 M | $68.50 M | $1,137.32 | |||
1677 MKL 1677Merkle Trade | $0.03918 | 0.28% | −7.49% | −14.61% | $3.92 M | $3.92 M | $2.25 | |||
1870 PERP 1870Perpetual Protocol | $0.02174 | 2.53% | 3.52% | 12.70% | $2.87 M | $3.26 M | $101,148.24 | |||
2103 SRM 2103Serum | $0.008097 | −4.29% | −2.74% | 15.65% | $2.13 M | $8.85 M | $72,303.16 | |||
2270 THALES 2270Thales | $0.2567 | −0.04% | −0.14% | 50.38% | $1.72 M | $25.52 M | $273.28 | |||
2465 DDX 2465DerivaDAO | $0.05228 | 1.99% | 4.02% | 4.05% | $1.36 M | $2.63 M | $7.39 | |||
2633 XPRT 2633Persistence | $0.008087 | −9.54% | −25.52% | 199.66% | $1.73 M | $1.11 M | $1,659.26 | |||
2930 OIL 2930Oiler | $0.02578 | 0.41% | −0.53% | 1.07% | $782,160.72 | $2.58 M | $23.55 | |||
2970 PREMIA 2970Premia | $0.009598 | −5.06% | −22.28% | −33.99% | $753,374.81 | $959,800.00 | $100.47 | |||
3104 KILO 3104KiloEx | $0.003103 | −1.83% | −1.86% | 6.80% | $656,905.10 | $3.10 M | $1,685.60 | |||
3342 SPRK 3342SparkDEX | $0.006311 | 1.85% | 13.44% | 29.94% | $514,772.50 | $6.06 M | $17,095.65 | |||
3490 BNC 3490Bifrost | $0.011738 | −5.96% | −18.47% | −13.16% | $439,991.61 | $942,400.00 | $386,502.00 | |||
3765 OVL 3765Overlay Protocol | $0.006202 | 0.08% | 0.08% | −6.06% | $331,327.31 | $503,487.58 | $60,648.74 | |||
4683 ZEX 4683Zeta Markets | $0.0008389 | −0.02% | −5.74% | −35.20% | $157,518.52 | $838,896.50 | $640.31 | |||
4952 DAFI 4952Dafi Protocol | $0.0001157 | 0.46% | −1.32% | 27.61% | $131,777.40 | $260,324.99 | $102.83 | |||
4978 NAVI 4978Navigator Exchange | $0.03441 | −4.80% | −2.19% | 82.39% | $129,602.96 | $36,474.70 | $100.91 | |||
5001 FOREX 5001handle.fi | $0.0006858 | −0.77% | −22.55% | −29.17% | $126,662.37 | $288,036.00 | $660.40 | |||
5026 MIR 5026Mirror Protocol | $0.001598 | 25.94% | −2.56% | −40.67% | $124,232.80 | $592,178.85 | $34,498.34 | |||
5105 DERI 5105Deri Protocol | $0.0009348 | 0.28% | 6.14% | 19.20% | $116,565.66 | $451,520.53 | $5.01 | |||
5218 OX 5218OX Coin | $0.00003276 | −25.23% | 58.03% | 34.35% | $107,568.81 | $107,568.81 | $140.71 | |||
5279 HGET 5279Hedget | $0.05821 | −1.46% | −2.53% | −29.32% | $101,951.78 | $101,951.78 | $55.63 | |||
5414 LINA 5414Linear | $0.00000926 | −5.19% | −3.34% | −7.49% | $92,568.94 | $92,600.00 | $19.12 | |||
5991 BOND 5991BarnBridge | $0.007622 | 8.28% | −79.70% | −75.35% | $60,292.01 | $76,220.00 | $1,292.88 | |||
6121 OPIUM 6121Opium | $0.01334 | 0.90% | 1.44% | 29.64% | $55,510.46 | $1.33 M | $38.19 | |||
6181 GOVI 6181CVI | $0.001653 | 0.00% | 1.46% | 34.39% | $52,896.00 | $52,896.00 | $2.00 | |||
6426 DESK 6426DESK | $0.00004858 | −1.52% | −1.52% | −3.06% | $44,878.82 | $48,580.00 | $7.20 | |||
6475 FNX 6475FinNexus | $0.0001212 | 0.39% | 2.42% | 805.40% | $43,347.71 | $21,391.24 | $75.29 | |||
6690 TUNE 6690Bitune | $0.001187 | 4.00% | −1.04% | −15.41% | $37,154.81 | $118,699.99 | $5.06 | |||
7030 JRT 7030Jarvis Reward Token | $0.001034 | 0.90% | 21.67% | 18.91% | $29,992.08 | $233,540.81 | $18.82 | |||
7259 LIEN 7259Lien | $0.073 | 21.88% | 21.88% | −55.06% | $25,905.82 | $73,000.00 | $105.30 | |||
8041 AUC 8041Auctus | $0.0003724 | −0.46% | −0.13% | 0.20% | $15,029.64 | $24,514.95 | $2.07 | |||
8317 CORL 8317Coral Finance | $0.00005368 | 0.79% | −4.41% | −14.69% | $12,473.08 | $53,680.00 | $205.54 | |||
9616 SAKE 9616SakeToken | $0.00004511 | 0.83% | 0.92% | −14.01% | $4,595.02 | $6,147.52 | $1.08 | |||
10048 PTF 10048PowerTrade Fuel | $0.00003118 | 0.32% | −3.82% | −57.78% | $726.85 | $12,472.00 | $34.23 | |||
10154 DGTX 10154Digitex Token | $0.00000244 | 1.08% | −3.62% | 59.30% | -- | $22,448.00 | $68.62 | |||
10365 KLT 10365KLend | $0.03378 | −2.99% | 7.17% | 27.90% | -- | $67,560.00 | $2.08 | |||
11439 BMX 11439Boardwalk [OLD] | $0.2404 | −1.87% | −4.47% | −30.31% | -- | $651,740.86 | $19.71 | |||
12320 DTR 12320dextoro | $0.00001124 | 6.59% | 4.37% | 41.25% | -- | $11,218.76 | $24.38 |
Frequently Asked Questions
What is the Derivatives category in crypto?
The Derivatives category tracks protocol tokens of decentralized derivatives infrastructure — perpetual-futures DEXs, options protocols, synthetic-asset issuers, and yield-derivatives markets. These protocols give users leveraged or synthetic exposure without a centralized counterparty: margin stays non-custodial and settlement runs on-chain. For investors, the Derivatives category is a proxy for on-chain leverage demand. DropsTab tracks dozens of Derivatives protocols, with Pendle, dYdX, Synthetix, and GMX ranked highest by market cap. Filter the full cohort on the DropsTab category scanner.
Which derivatives token has the largest market cap?
Pendle (PENDLE) has the largest market cap in the Derivatives category. Per DropsTab market-cap ranking, Pendle (PENDLE) ranks #1, dYdX (DYDX) ranks #2, Synthetix (SNX) ranks #3, and GMX (GMX) ranks #4. Pendle tokenizes and trades future yield, a distinct sub-type from the perpetual DEXs ranked below. Market-cap ranking matters because it signals which Derivatives protocols hold durable liquidity versus short-term speculative rotation. The DropsTab category scanner sorts the full cohort by market cap.
What are crypto derivatives?
Crypto derivatives are financial contracts that derive value from an underlying asset — such as Bitcoin or Ether — without requiring ownership of that asset. The three main types are perpetual futures, options, and synthetic assets. Crypto derivatives let traders take leveraged or hedged positions on price direction. On-chain crypto derivatives settle through smart contracts rather than a centralized clearinghouse, keeping margin non-custodial and liquidations transparent. This on-chain settlement distinguishes decentralized derivatives from centralized-exchange futures products.
How do on-chain perpetuals and options protocols work?
On-chain perpetual protocols run leveraged futures with no expiry, using a funding rate to tether contract price to the underlying spot price. Options protocols instead sell time-bound contracts priced by a premium, granting buyers the right to a payout at a strike. Both settle on-chain and hold collateral in smart contracts. GMX (GMX) has facilitated over $363B in cumulative notional volume from 740,000+ traders across eight chains, illustrating the scale on-chain perpetual protocols now reach.
What is a decentralized derivatives exchange?
A decentralized derivatives exchange is an on-chain protocol where users trade perpetuals, options, or synthetics without surrendering custody of their margin. Decentralized derivatives exchanges settle trades through smart contracts, list markets permissionlessly, and expose liquidations transparently. Examples in the DropsTab Derivatives category include dYdX (DYDX), GMX (GMX), and Aevo (AEVO). For investors, a decentralized derivatives exchange removes counterparty custody risk but adds smart-contract and liquidation risk under high volatility.
How is the Derivatives sector measured by TVL and open interest?
Analysts measure the Derivatives sector with protocol-native metrics, not price alone. The core metrics are protocol TVL (Total Value Locked), perpetual and options trading volume, open interest, and protocol revenue from fees. These metrics reveal real usage: rising open interest and fees signal genuine leverage demand, while price alone can mislead. Standard token data — market cap, circulating supply, and vesting schedules — sits alongside on the DropsTab coin pages for each Derivatives protocol.
Why does Pendle rank above perpetual DEXs like dYdX and GMX?
Pendle (PENDLE) ranks above perpetual DEXs because Pendle occupies the yield-derivatives sub-type, tokenizing and trading future yield rather than running leveraged futures. The Derivatives category spans distinct sub-types: perpetual DEXs like dYdX (DYDX) and GMX (GMX), options protocols like Hegic (HEGIC) and Aevo (AEVO), and synthetic-asset issuers like Synthetix (SNX). Each sub-type carries different revenue drivers — funding rates, option premiums, or yield spreads. Market cap ranks all sub-types together.
What are the risks of investing in Derivatives tokens?
Derivatives tokens carry four main risks. Regulatory exposure ranks highest — derivatives are the most scrutinized DeFi primitive globally. Volume cyclicality follows: on-chain perpetuals volume peaked near $1.36T in October 2025 (DefiLlama) and has roughly halved since. Concentration risk means a handful of protocols capture most on-chain volume. The cohort also holds defunct tokens — FTX Token (FTT), Serum (SRM), Mirror Protocol (MIR), and Digitex Token (DGTX) are inactive and no longer operate live venues.
How to track Derivatives projects on DropsTab?
DropsTab tracks the full Derivatives cohort — dozens of protocols across perpetual DEXs, options, synthetic assets, and yield-derivatives. The DropsTab category scanner filters and sorts these protocols by market cap, while individual coin pages carry Vesting schedules, Fundraising rounds, and backer profiles. Vesting unlock calendars flag upcoming token supply increases, and Drops Bot alerts notify on price or listing changes. This lets investors compare Derivatives protocols side by side rather than tracking each in isolation.