Derivatives
0.03%
−0.00%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
118 PENDLE 118Pendle | $1.32 | 4.67% | −2.77% | −14.66% | $227.77 M | $372.46 M | $14.81 M | |||
227 DYDX 227dYdX | $0.1016 | −5.45% | −12.15% | −19.11% | $86.22 M | $97.37 M | $4.75 M | |||
266 GMX 266GMX | $6.65 | −0.78% | 6.70% | 8.12% | $69.51 M | $69.51 M | $923,877.37 | |||
272 SNX 272Synthetix | $0.1976 | −0.59% | −6.27% | −11.67% | $68.08 M | $114.89 M | $7.49 M | |||
275 FTT 275FTX Token | $0.204 | −2.01% | 3.89% | −0.49% | $67.09 M | $67.09 M | $1.48 M | |||
486 AVNT 486Avantis | $0.09533 | −5.62% | 0.95% | 3.15% | $32.33 M | $95.33 M | $4.79 M | |||
553 UMA 553UMA | $0.3183 | −1.42% | −5.88% | −12.61% | $28.87 M | $41.20 M | $1.67 M | |||
587 APEX 587ApeX | $0.1834 | −2.75% | −13.46% | −37.65% | $26.82 M | $91.70 M | $1.19 M | |||
739 AEVO 739Aevo | $0.02014 | 1.01% | −3.45% | 6.14% | $18.78 M | $20.14 M | $5.07 M | |||
749 BASED 749Based | $0.07809 | −2.20% | 0.64% | −14.44% | $18.35 M | $78.09 M | $6.38 M | |||
781 MYX 781MYX Finance | $0.07255 | −2.11% | −4.12% | −7.47% | $17.05 M | $72.50 M | $7.43 M | |||
1044 HEGIC 1044Hegic | $0.01415 | 1.98% | 1.20% | 3.39% | $9.96 M | $42.62 M | $552.01 | |||
1168 STRIKE 1168Strike | $0.4469 | 4.20% | 12.83% | 4.38% | $8.04 M | $4.47 B | $13,841.63 | |||
1189 MCB 1189MUX Protocol | $1.99 | −3.40% | −3.86% | 6.99% | $7.60 M | $9.56 M | $4,324.70 | |||
1350 1350 SYMMIO | $0.006954 | −0.18% | 0.59% | 7.18% | $5.66 M | $5.97 M | $6,600.31 | |||
1408 DNT 1408district0x | $0.005091 | 0.58% | −7.41% | −2.09% | $5.09 M | $5.09 M | $2,671.41 | |||
1436 LV 1436leverup | $0.05331 | −0.20% | −5.90% | −5.07% | $4.80 M | $53.31 M | $121.54 | |||
1487 MKL 1487Merkle Trade | $0.04408 | −0.56% | −0.77% | 25.05% | $4.41 M | $4.41 M | $0.58 | |||
1847 PERP 1847Perpetual Protocol | $0.01809 | 1.12% | −6.64% | −6.63% | $2.39 M | $2.71 M | $24,589.33 | |||
1925 SRM 1925Serum | $0.00806 | 1.51% | 11.15% | 8.03% | $2.12 M | $8.81 M | $1,770.80 | |||
2235 THALES 2235Thales | $0.2125 | 2.48% | 18.86% | 46.00% | $1.42 M | $21.12 M | $225.43 | |||
2266 PREMIA 2266Premia | $0.01741 | −4.02% | −10.53% | −0.06% | $1.37 M | $1.74 M | $86.49 | |||
2314 DDX 2314DerivaDAO | $0.04923 | 0.43% | −0.94% | −1.09% | $1.28 M | $2.48 M | $441.88 | |||
2880 KILO 2880KiloEx | $0.00306 | −3.17% | 3.20% | −8.90% | $647,802.00 | $3.06 M | $14,118.27 | |||
3004 BNC 3004Bifrost | $0.014927 | 3.19% | −5.45% | 1.10% | $559,266.89 | $1.19 M | $499,425.00 | |||
3069 XPRT 3069Persistence | $0.002453 | −12.79% | 15.65% | 26.40% | $523,394.04 | $523,400.80 | $276.14 | |||
3358 SPRK 3358SparkDEX | $0.004782 | −1.86% | −2.67% | −31.33% | $385,424.52 | $4.61 M | $5,558.78 | |||
3596 OVL 3596Overlay Protocol | $0.00624 | 0.20% | −0.76% | −15.03% | $309,397.11 | $504,012.92 | $61,133.22 | |||
3720 BOND 3720BarnBridge | $0.03503 | −0.62% | 3.30% | −55.19% | $277,096.48 | $350,300.00 | $192.20 | |||
3831 MIR 3831Mirror Protocol | $0.003197 | −1.77% | 5.49% | 40.36% | $248,543.34 | $1.18 M | $2,115.21 | |||
3883 ZEX 3883Zeta Markets | $0.001257 | 7.10% | −7.61% | −67.48% | $236,024.86 | $1.26 M | $129.17 | |||
4342 FOREX 4342handle.fi | $0.0008194 | −0.98% | −14.33% | −72.86% | $158,706.58 | $360,906.00 | $491.00 | |||
4710 HGET 4710Hedget | $0.06618 | 0.14% | −8.07% | −24.82% | $115,910.82 | $115,910.82 | $109.67 | |||
4820 DAFI 4820Dafi Protocol | $0.00009268 | 4.53% | 4.11% | 7.02% | $105,558.60 | $208,530.00 | $60.54 | |||
4969 LINA 4969Linear | $0.00000939 | −5.21% | −12.33% | −99.62% | $93,868.50 | $93,900.00 | $136.49 | |||
5015 DERI 5015Deri Protocol | $0.0007241 | 0.31% | −8.08% | −23.11% | $90,292.24 | $349,749.69 | $15.08 | |||
5121 NAVI 5121Navigator Exchange | $0.02185 | −4.55% | 15.34% | −9.16% | $82,296.56 | $23,161.06 | $252.39 | |||
5830 OX 5830OX Coin | $0.00001428 | −1.97% | −3.33% | −28.66% | $46,888.97 | $46,888.97 | $3.37 | |||
5865 DESK 5865DESK | $0.00004898 | 0.47% | 0.47% | −8.92% | $45,248.35 | $48,980.00 | $1.06 | |||
5954 OPIUM 5954Opium | $0.01011 | 0.50% | −0.37% | −12.50% | $42,069.77 | $1.01 M | $20.68 | |||
6043 TUNE 6043Bitune | $0.001247 | −4.11% | −19.44% | −51.99% | $39,032.90 | $124,700.00 | $31.30 | |||
6639 JRT 6639Jarvis Reward Token | $0.0008472 | 0.50% | −1.65% | −4.41% | $24,573.78 | $191,349.88 | $12.84 | |||
6692 VRTX 6692Vertex | $0.00004432 | 0.00% | −18.42% | −26.61% | $23,416.99 | $44,320.00 | $0.39 | |||
6808 LIEN 6808Lien | $0.0599 | 0.00% | −63.10% | −59.90% | $21,256.96 | $59,900.00 | $7.90 | |||
7202 AUC 7202Auctus | $0.0003718 | 0.50% | −0.37% | −4.16% | $15,005.42 | $24,475.45 | $2.07 | |||
7363 CORL 7363Coral Finance | $0.00005563 | 5.20% | −6.49% | 15.22% | $12,926.18 | $55,630.00 | $59.22 | |||
8569 SAKE 8569SakeToken | $0.00003982 | −21.00% | −19.15% | −57.61% | $4,056.17 | $5,426.61 | $95.68 | |||
8997 DOWS 8997Shadows | $0.00003815 | −49.32% | 124.45% | 150.09% | $1,010.97 | $1,506.92 | $27.48 | |||
9025 PTF 9025PowerTrade Fuel | $0.00002615 | −16.69% | −64.89% | −85.68% | $609.59 | $10,460.00 | $62.99 | |||
10107 BMX 10107Boardwalk [OLD] | $0.3037 | 3.38% | −12.13% | 41.18% | -- | $823,351.50 | $109.44 | |||
10892 DTR 10892dextoro | $0.00000771 | −2.74% | −0.66% | −7.28% | -- | $7,695.43 | $0.2695 |
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.