Derivatives
0.03%
−0.00%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
114 PENDLE 114Pendle | $1.67 | −6.87% | −2.21% | −31.64% | $290.47 M | $469.31 M | $51.67 M | |||
227 GMX 227GMX | $8.45 | −5.87% | 6.18% | −4.43% | $90.37 M | $90.48 M | $1.67 M | |||
237 DYDX 237dYdX | $0.09762 | −6.80% | −5.20% | −33.46% | $82.60 M | $93.67 M | $3.56 M | |||
250 FTT 250FTX Token | $0.229 | −3.59% | −1.18% | −11.61% | $75.32 M | $75.15 M | $826,164.60 | |||
294 SNX 294Synthetix | $0.1691 | −4.29% | −7.38% | −33.40% | $58.26 M | $98.20 M | $3.92 M | |||
453 AVNT 453Veranta (formerly Avantis) | $0.0859 | −5.93% | −6.24% | −36.54% | $33.30 M | $85.63 M | $4.52 M | |||
473 APEX 473ApeX | $0.20 | −7.10% | −5.05% | −16.35% | $31.58 M | $99.80 M | $1.49 M | |||
485 UMA 485UMA | $0.332 | −4.43% | 2.17% | −27.68% | $30.79 M | $43.62 M | $2.12 M | |||
706 AEVO 706Aevo | $0.0195 | −2.90% | −7.03% | −25.79% | $18.19 M | $19.50 M | $1.19 M | |||
883 MYX 883MYX Finance | $0.05216 | −5.33% | −3.06% | −26.67% | $12.27 M | $52.12 M | $3.90 M | |||
942 BASED 942Based | $0.04634 | −5.60% | −10.28% | −28.39% | $10.89 M | $46.48 M | $7.24 M | |||
1015 HEGIC 1015Hegic | $0.0137 | −6.39% | 1.08% | −14.51% | $9.64 M | $41.26 M | $44.83 | |||
1053 DNT 1053district0x | $0.008805 | 27.18% | 29.39% | 19.70% | $8.81 M | $8.81 M | $98,225.00 | |||
1069 MCB 1069MUX Protocol | $2.24 | 0.00% | −2.61% | −5.91% | $8.56 M | $10.76 M | $610.64 | |||
1156 STRIKE 1156Strike | $0.4079 | 2.09% | −3.31% | −29.81% | $7.34 M | $4.08 B | $42,636.00 | |||
1191 PIKA 1191Pika Protocol | $0.3605 | −8.08% | −0.30% | −18.61% | $6.85 M | $36.05 M | $1.20 | |||
1384 1384 SYMMIO | $0.005605 | −5.67% | −3.23% | −22.46% | $4.73 M | $4.81 M | $15,356.92 | |||
1495 LV 1495leverup | $0.04323 | −5.25% | −12.31% | −38.33% | $3.89 M | $43.23 M | $812.93 | |||
1770 MKL 1770Merkle Trade | $0.02466 | 0.03% | −10.49% | 12.07% | $2.47 M | $2.47 M | $2.18 | |||
1809 PERP 1809Perpetual Protocol | $0.01733 | −6.39% | −8.83% | −18.62% | $2.29 M | $2.60 M | $26,386.79 | |||
2212 DDX 2212DerivaDAO | $0.04964 | −6.29% | −18.44% | −0.25% | $1.30 M | $2.50 M | $385.50 | |||
2222 SRM 2222Serum | $0.004856 | −6.64% | 2.30% | −24.78% | $1.28 M | $5.31 M | $13,211.42 | |||
2343 THALES 2343Thales | $0.1614 | 335.89% | −14.44% | −24.94% | $1.08 M | $16.04 M | $84.15 | |||
2851 KILO 2851KiloEx | $0.002798 | −0.64% | −0.42% | −19.08% | $592,336.60 | $2.80 M | $1,856.99 | |||
2945 XPRT 2945Persistence | $0.002517 | −5.88% | 0.14% | −46.55% | $537,049.65 | $537,056.59 | $2,986.90 | |||
3163 SPRK 3163SparkDEX | $0.005208 | −4.08% | −6.11% | −24.62% | $415,954.11 | $4.96 M | $11,210.57 | |||
3326 BNC 3326Bifrost | $0.00935 | −5.81% | 4.31% | −9.79% | $350,478.92 | $745,440.00 | $68,636.00 | |||
3461 OVL 3461Overlay Protocol | $0.005727 | 0.50% | 5.94% | 2.83% | $308,868.60 | $463,111.76 | $526.30 | |||
4047 ZEX 4047Zeta Markets | $0.0009411 | −23.62% | 23.71% | −1.90% | $176,705.45 | $941,093.11 | $2,254.29 | |||
4212 SI 4212Siren | $0.002324 | −7.19% | −12.33% | −37.71% | $155,377.80 | $232,400.00 | $2.51 | |||
4552 DAFI 4552Dafi Protocol | $0.0001016 | −8.37% | 1.02% | −16.21% | $115,718.10 | $228,600.00 | $39.08 | |||
4621 NAVI 4621Navigator Exchange | $0.02872 | −5.54% | −6.43% | −35.38% | $108,171.96 | $30,443.28 | $583.68 | |||
4998 MIR 4998Mirror Protocol | $0.001035 | −17.33% | −69.61% | 29.40% | $80,463.67 | $383,545.12 | $224.08 | |||
5138 DERI 5138Deri Protocol | $0.0005748 | 5.77% | −6.55% | −26.57% | $71,675.16 | $277,635.86 | $76.72 | |||
5385 BOND 5385BarnBridge | $0.007503 | −0.97% | −1.31% | −21.46% | $59,350.69 | $75,030.00 | $212.47 | |||
5601 OX 5601OX Coin | $0.00001568 | 3.26% | 3.15% | −30.14% | $51,485.92 | $51,485.92 | $14.06 | |||
5650 GOVI 5650CVI | $0.001539 | −7.45% | 0.57% | −21.32% | $49,248.00 | $49,248.00 | $9,062.86 | |||
5682 OPIUM 5682Opium | $0.01157 | −6.61% | 0.68% | −17.79% | $48,145.13 | $1.16 M | $30.05 | |||
6538 VEGA 6538Vega Protocol | $0.0004238 | −5.59% | −26.45% | −53.42% | $26,295.57 | $27,546.88 | $4.29 | |||
6634 FOREX 6634handle.fi | $0.0001358 | −12.73% | −35.09% | −61.46% | $25,081.29 | $57,036.00 | $3.67 | |||
6939 HGET 6939Hedget | $0.01143 | 1.76% | 2.19% | −27.81% | $20,019.05 | $20,019.05 | $1,097.43 | |||
6988 JRT 6988Jarvis Reward Token | $0.0006624 | −6.72% | −22.03% | −21.50% | $19,213.49 | $149,610.67 | $16.89 | |||
7307 AUC 7307Auctus | $0.0003731 | 0.06% | 0.05% | 0.31% | $15,057.89 | $24,561.03 | $2.07 | |||
7444 TUNE 7444Bitune | $0.0004364 | −1.71% | 15.05% | −61.19% | $13,659.95 | $43,640.00 | $877.04 | |||
7868 LINA 7868Linear | $0.000001 | −87.53% | −89.03% | −89.08% | $9,996.64 | $10,000.00 | $19.02 | |||
8376 CORL 8376Coral Finance | $0.00002906 | −1.31% | −34.56% | −39.80% | $6,752.38 | $29,060.00 | $7.50 | |||
9273 SAKE 9273SakeToken | $0.00000751 | −10.07% | −45.73% | −72.27% | $764.98 | $1,023.45 | $144.47 | |||
9382 DGTX 9382Digitex Token | $0.00000178 | −0.56% | −0.56% | −19.33% | -- | $16,375.99 | $1.00 | |||
9592 KLT 9592KLend | $0.03176 | −2.63% | −0.57% | −7.79% | -- | $63,519.99 | $2.19 | |||
9615 PROS 9615ProSwap | $0.01039 | −3.87% | −3.61% | −9.63% | -- | $103,900.00 | $4.14 | |||
9647 GDT 9647Globe Derivative Exchange | $0.001713 | 0.16% | 3.68% | 4.95% | -- | $685,200.00 | $3.90 | |||
10687 BMX 10687Boardwalk [OLD] | $0.1266 | −3.27% | −8.52% | −29.47% | -- | $343,221.27 | $168.99 | |||
11073 XTEN 11073Extended (prev. X10) | $0.24 | −4.00% | −13.60% | −11.19% | -- | -- | $217,810.65 |
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.