Derivatives
0.03%
−0.00%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
114 PENDLE 114Pendle | $1.49 | −2.62% | −9.50% | 20.45% | $255.27 M | $418.63 M | $13.44 M | |||
218 DYDX 218dYdX | $0.1166 | −4.28% | −4.37% | −26.23% | $98.61 M | $111.36 M | $3.67 M | |||
265 SNX 265Synthetix | $0.22 | 0.94% | −5.30% | −2.67% | $75.48 M | $127.39 M | $10.27 M | |||
286 GMX 286GMX | $6.73 | −0.70% | 4.21% | 24.08% | $70.12 M | $70.12 M | $1.73 M | |||
295 FTT 295FTX Token | $0.2061 | 0.10% | −0.67% | −12.96% | $67.56 M | $67.56 M | $2.11 M | |||
447 APEX 447ApeX | $0.2753 | −3.92% | −0.86% | 0.48% | $40.22 M | $137.60 M | $1.04 M | |||
562 UMA 562UMA | $0.366 | 4.04% | −0.81% | −3.72% | $32.93 M | $47.03 M | $12.46 M | |||
610 AVNT 610Avantis | $0.0848 | −4.90% | −10.16% | −9.73% | $28.13 M | $84.49 M | $7.81 M | |||
766 BASED 766Based | $0.0808 | 1.78% | −4.56% | 1.21% | $18.99 M | $80.80 M | $2.66 M | |||
813 AEVO 813Aevo | $0.01869 | 0.64% | −1.78% | −0.42% | $17.14 M | $18.69 M | $3.87 M | |||
946 MYX 946MYX Finance | $0.06719 | −5.93% | −15.50% | −28.95% | $12.67 M | $66.40 M | $10.38 M | |||
1068 HEGIC 1068Hegic | $0.01405 | 0.03% | 1.47% | 21.31% | $9.89 M | $42.32 M | $154.02 | |||
1175 MCB 1175MUX Protocol | $2.14 | 20.22% | 15.05% | 15.68% | $8.18 M | $10.28 M | $26,644.00 | |||
1289 STRIKE 1289Strike | $0.3664 | −2.88% | −14.23% | −44.93% | $6.60 M | $3.66 B | $28,270.00 | |||
1358 1358 SYMMIO | $0.006986 | −2.93% | 3.08% | −0.73% | $5.71 M | $6.02 M | $21,065.00 | |||
1408 DNT 1408district0x | $0.005095 | −0.12% | −6.46% | −1.60% | $5.10 M | $5.10 M | $6,762.34 | |||
1436 LV 1436leverup | $0.05425 | 3.25% | −5.53% | 19.71% | $4.88 M | $54.25 M | $1,007.04 | |||
1698 MKL 1698Merkle Trade | $0.0307 | −0.03% | −1.09% | −1.01% | $3.07 M | $3.07 M | $1.27 | |||
1908 SRM 1908Serum | $0.008306 | 19.57% | 17.50% | 30.10% | $2.19 M | $9.08 M | $38,796.16 | |||
2223 PERP 2223Perpetual Protocol | $0.01968 | −2.52% | −0.03% | 8.10% | $1.43 M | $2.95 M | $66,891.34 | |||
2298 DDX 2298DerivaDAO | $0.04984 | 1.77% | −0.78% | 0.50% | $1.30 M | $2.51 M | $159.08 | |||
2390 THALES 2390Thales | $0.1577 | 0.58% | 4.20% | 20.69% | $1.19 M | $15.68 M | $569.63 | |||
2963 KILO 2963KiloEx | $0.002888 | −2.80% | −12.72% | −17.83% | $612,659.79 | $2.89 M | $65,553.57 | |||
3129 BNC 3129Bifrost | $0.013445 | −1.38% | −6.30% | −26.36% | $503,040.33 | $1.07 M | $432,347.00 | |||
3179 SPRK 3179SparkDEX | $0.005913 | −0.89% | −9.43% | −29.20% | $479,121.35 | $5.72 M | $6,385.96 | |||
3194 ZEX 3194Zeta Markets | $0.002454 | −0.81% | −3.35% | −79.78% | $472,802.17 | $2.52 M | $8,382.93 | |||
3405 XPRT 3405Persistence | $0.001746 | −8.06% | −6.19% | −31.58% | $372,542.19 | $372,547.00 | $3,339.19 | |||
3424 BOND 3424BarnBridge | $0.04628 | −8.79% | −14.67% | 145.39% | $366,086.93 | $462,800.00 | $383.33 | |||
3470 OVL 3470Overlay Protocol | $0.007228 | 0.20% | 0.19% | −3.30% | $351,141.61 | $578,401.62 | $62,636.69 | |||
3981 FOREX 3981handle.fi | $0.001126 | −9.95% | −25.64% | −62.77% | $207,964.17 | $472,920.00 | $5,357.37 | |||
4043 MIR 4043Mirror Protocol | $0.0025 | −1.93% | 1.66% | −29.81% | $194,356.69 | $926,437.50 | $1,442.13 | |||
4396 HGET 4396Hedget | $0.08232 | −0.88% | 1.21% | 19.80% | $144,179.19 | $144,179.19 | $41.20 | |||
4534 DERI 4534Deri Protocol | $0.001027 | −1.37% | 1.95% | 15.62% | $128,062.61 | $496,054.32 | $21.98 | |||
4789 DAFI 4789Dafi Protocol | $0.00009256 | 0.45% | −1.73% | 23.59% | $105,421.92 | $208,260.00 | $62.15 | |||
4799 LINA 4799Linear | $0.00001045 | −99.57% | −99.58% | −99.55% | $104,464.95 | $104,500.00 | $18.02 | |||
5195 NAVI 5195Navigator Exchange | $0.02056 | 2.52% | −8.00% | −25.40% | $77,437.86 | $21,793.66 | $377.57 | |||
5605 TUNE 5605Bitune | $0.001816 | −11.17% | −27.74% | −37.07% | $56,843.43 | $181,600.00 | $236.13 | |||
5728 VEGA 5728Vega Protocol | $0.0008296 | −1.79% | −6.35% | −4.54% | $51,474.30 | $53,923.77 | $2.68 | |||
5753 OX 5753OX Coin | $0.0000154 | −43.83% | −16.96% | 9.51% | $50,566.53 | $50,566.53 | $321.91 | |||
5985 OPIUM 5985Opium | $0.01033 | −2.81% | −1.98% | 0.10% | $42,985.23 | $1.03 M | $15.94 | |||
6655 JRT 6655Jarvis Reward Token | $0.000895 | −3.84% | −1.49% | 9.53% | $25,960.26 | $202,146.06 | $49.48 | |||
7406 AUC 7406Auctus | $0.0003952 | −3.84% | −1.50% | 10.23% | $14,043.77 | $26,015.87 | $4.24 | |||
7418 CORL 7418Coral Finance | $0.00005977 | −6.97% | 50.97% | 20.67% | $13,888.15 | $59,770.00 | $544.12 | |||
8545 SAKE 8545SakeToken | $0.00005087 | −7.98% | −43.33% | −37.37% | $5,181.75 | $6,932.49 | $153.47 | |||
9255 PTF 9255PowerTrade Fuel | $0.000036 | −80.30% | −80.30% | −79.74% | $839.21 | $14,400.00 | $1,442.79 | |||
9367 DGTX 9367Digitex Token | $0.0000017 | −5.91% | −11.02% | −28.96% | -- | $15,640.00 | $31.25 | |||
10557 BMX 10557Boardwalk [OLD] | $0.3081 | −4.75% | −4.85% | −39.20% | -- | $835,280.20 | $490.76 | |||
11487 DTR 11487dextoro | $0.0000079 | −1.46% | −5.05% | 5.61% | -- | $7,885.07 | $1.80 |
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.