Derivatives
0.03%
0.00%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
100 PENDLE 100Pendle | $2.12 | 0.00% | −1.86% | −6.22% | $368.91 M | $594.02 M | $57.08 M | |||
227 DYDX 227dYdX | $0.1236 | −0.43% | −12.90% | 15.48% | $104.59 M | $118.93 M | $6.28 M | |||
247 GMX 247GMX | $8.70 | −2.09% | 1.62% | 20.86% | $92.92 M | $92.92 M | $1.99 M | |||
266 FTT 266FTX Token | $0.2542 | 1.81% | −1.08% | 26.66% | $83.61 M | $83.54 M | $726,558.79 | |||
281 SNX 281Synthetix | $0.2235 | −2.24% | −8.66% | 7.66% | $77.00 M | $129.71 M | $4.25 M | |||
427 AVNT 427Veranta (formerly Avantis) | $0.119 | −0.19% | −14.10% | 22.36% | $42.30 M | $118.80 M | $3.45 M | |||
456 APEX 456ApeX | $0.2471 | 4.65% | 4.24% | 11.73% | $38.33 M | $122.80 M | $1.51 M | |||
476 UMA 476UMA | $0.394 | −0.00% | −5.61% | 8.66% | $36.57 M | $51.82 M | $1.35 M | |||
708 AEVO 708Aevo | $0.02378 | −0.34% | −10.98% | 11.22% | $22.18 M | $23.76 M | $2.78 M | |||
911 MYX 911MYX Finance | $0.06142 | 2.59% | −11.54% | 3.17% | $14.45 M | $61.36 M | $4.94 M | |||
1029 BASED 1029Based | $0.0495 | 10.64% | −27.22% | −19.58% | $11.63 M | $49.43 M | $12.73 M | |||
1084 DNT 1084district0x | $0.01029 | 37.11% | 18.07% | 75.52% | $10.29 M | $10.29 M | $916,010.00 | |||
1107 HEGIC 1107Hegic | $0.01407 | −1.33% | −4.54% | −4.05% | $9.90 M | $42.38 M | $31.28 | |||
1148 STRIKE 1148Strike | $0.5084 | 1.17% | −1.29% | 12.59% | $9.15 M | $5.08 B | $19,084.19 | |||
1179 MCB 1179MUX Protocol | $2.29 | 0.44% | −2.97% | −3.38% | $8.75 M | $11.00 M | $5.14 | |||
1277 PIKA 1277Pika Protocol | $0.3948 | −0.74% | −2.87% | −0.15% | $7.50 M | $39.48 M | $142.17 | |||
1449 1449 SYMMIO | $0.006244 | 3.53% | −1.42% | −24.37% | $5.27 M | $5.36 M | $11,555.22 | |||
1475 LV 1475leverup | $0.05639 | −2.47% | −8.50% | 0.99% | $5.08 M | $56.39 M | $423.84 | |||
1853 MKL 1853Merkle Trade | $0.02771 | −0.17% | 25.87% | −28.06% | $2.77 M | $2.77 M | $1.59 | |||
1874 PERP 1874Perpetual Protocol | $0.0203 | −3.42% | −3.79% | 2.30% | $2.68 M | $3.05 M | $40,630.46 | |||
2308 SRM 2308Serum | $0.005331 | −1.90% | −14.43% | −44.42% | $1.40 M | $5.83 M | $8,305.53 | |||
2338 THALES 2338Thales | $0.2035 | −0.10% | 1.07% | −13.96% | $1.36 M | $20.23 M | $75.84 | |||
2428 DDX 2428DerivaDAO | $0.04766 | −0.61% | −4.34% | −5.11% | $1.24 M | $2.40 M | $2.39 | |||
2765 XPRT 2765Persistence | $0.003793 | 13.89% | 2.54% | −50.11% | $809,308.44 | $816,146.79 | $13,944.41 | |||
2818 OIL 2818Oiler | $0.02559 | −1.32% | 2.90% | −2.04% | $776,396.15 | $2.56 M | $13.42 | |||
3015 KILO 3015KiloEx | $0.003018 | −1.80% | −6.13% | −1.93% | $638,910.60 | $3.02 M | $1,756.10 | |||
3250 SPRK 3250SparkDEX | $0.006154 | −0.88% | −8.20% | 5.93% | $492,120.85 | $5.87 M | $2,902.49 | |||
3548 BNC 3548Bifrost | $0.009577 | −5.68% | −3.45% | 6.59% | $358,987.87 | $770,639.99 | $164,766.32 | |||
3755 OVL 3755Overlay Protocol | $0.005512 | 0.62% | −0.38% | −9.27% | $296,087.87 | $445,726.21 | $11.10 | |||
4295 SI 4295Siren | $0.002781 | −9.20% | −19.53% | −24.72% | $185,931.87 | $278,100.00 | $1.28 | |||
4344 NAVI 4344Navigator Exchange | $0.04753 | −4.24% | −0.76% | 31.14% | $179,018.56 | $50,381.94 | $69.84 | |||
4523 ZEX 4523Zeta Markets | $0.0008251 | −0.14% | −13.30% | −17.29% | $154,924.84 | $825,094.06 | $2,844.68 | |||
4742 DAFI 4742Dafi Protocol | $0.0001127 | −0.39% | −5.27% | −4.56% | $128,360.53 | $253,575.00 | $27.88 | |||
5270 DERI 5270Deri Protocol | $0.0006832 | −2.19% | −7.84% | −27.60% | $85,192.19 | $329,994.46 | $99.22 | |||
5289 LINA 5289Linear | $0.0000084 | −4.31% | −0.63% | −13.58% | $83,971.82 | $83,999.99 | $9.12 | |||
5476 MIR 5476Mirror Protocol | $0.0009339 | 29.45% | 32.72% | −5.00% | $72,603.88 | $346,079.99 | $28.19 | |||
5677 BOND 5677BarnBridge | $0.00793 | 0.94% | −13.35% | 18.11% | $62,728.37 | $79,300.00 | $28.56 | |||
5834 OX 5834OX Coin | $0.00001712 | 4.69% | 8.27% | −10.50% | $56,214.22 | $56,214.22 | $7.63 | |||
5841 GOVI 5841CVI | $0.001749 | −1.45% | −7.65% | −0.10% | $55,968.00 | $55,968.00 | $10,297.97 | |||
5885 FOREX 5885handle.fi | $0.0003 | 49.45% | −12.86% | −56.31% | $55,407.86 | $123,144.00 | $556.14 | |||
6213 OPIUM 6213Opium | $0.01014 | 0.08% | −21.91% | −0.14% | $42,194.60 | $1.01 M | $20.67 | |||
6624 TUNE 6624Bitune | $0.001015 | −0.03% | −5.17% | −22.43% | $31,770.97 | $101,500.00 | $3.20 | |||
6980 JRT 6980Jarvis Reward Token | $0.0008493 | 12.33% | 8.36% | 4.45% | $24,634.69 | $191,824.19 | $20.71 | |||
7156 HGET 7156Hedget | $0.01227 | 1.21% | −22.79% | −74.91% | $21,490.26 | $21,490.26 | $67.53 | |||
7630 AUC 7630Auctus | $0.0003727 | 0.09% | −0.20% | −0.14% | $15,041.75 | $24,534.70 | $2.07 | |||
8105 CORL 8105Coral Finance | $0.00004497 | −2.72% | −13.32% | −9.63% | $10,449.22 | $44,970.00 | $8.54 | |||
9365 SAKE 9365SakeToken | $0.00002232 | 0.00% | −11.29% | −49.18% | $2,273.57 | $3,041.73 | $1.87 | |||
9495 PTF 9495PowerTrade Fuel | $0.0000135 | −1.17% | −11.19% | −48.31% | $314.70 | $5,400.00 | $1.68 | |||
9564 DGTX 9564Digitex Token | $0.00000216 | −0.83% | −1.49% | 14.19% | -- | $19,872.00 | $43.44 | |||
9790 PROS 9790ProSwap | $0.0108 | −0.87% | −3.14% | −0.59% | -- | $108,000.00 | $2.41 | |||
9816 GDT 9816Globe Derivative Exchange | $0.001695 | 0.57% | 0.96% | 1.82% | -- | $678,000.00 | $80.16 | |||
10730 BMX 10730Boardwalk [OLD] | $0.169 | −1.27% | −0.49% | 6.36% | -- | $458,170.57 | $3.25 |
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.