Derivatives
0.04%
0.00%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
97 PENDLE 97Pendle | $2.58 | 2.78% | 1.16% | 49.13% | $447.93 M | $726.34 M | $58.89 M | |||
217 DYDX 217dYdX | $0.1428 | 7.67% | 10.38% | 21.49% | $120.82 M | $136.85 M | $9.99 M | |||
265 SNX 265Synthetix | $0.2633 | 1.33% | 15.30% | 15.78% | $90.71 M | $153.08 M | $5.54 M | |||
281 GMX 281GMX | $8.15 | −0.61% | 6.93% | 8.42% | $85.24 M | $85.24 M | $3.98 M | |||
285 FTT 285FTX Token | $0.256 | −2.40% | 22.21% | 9.04% | $84.20 M | $84.20 M | $884,518.66 | |||
442 AVNT 442Veranta (formerly Avantis) | $0.1276 | 0.71% | 19.58% | 21.09% | $45.19 M | $127.60 M | $20.27 M | |||
470 APEX 470ApeX | $0.2684 | 2.95% | 19.45% | −2.48% | $41.63 M | $134.20 M | $1.17 M | |||
492 UMA 492UMA | $0.4273 | 4.41% | 12.21% | 14.65% | $39.57 M | $56.11 M | $2.52 M | |||
716 AEVO 716Aevo | $0.02713 | 3.80% | 11.26% | 16.73% | $25.30 M | $27.13 M | $2.23 M | |||
842 MYX 842MYX Finance | $0.0795 | 0.57% | 1.11% | 7.83% | $18.70 M | $79.50 M | $7.52 M | |||
897 BASED 897Based | $0.07125 | 3.29% | 10.70% | −0.49% | $16.74 M | $71.25 M | $12.03 M | |||
1104 HEGIC 1104Hegic | $0.01594 | 1.46% | 2.64% | −10.26% | $11.22 M | $48.01 M | $343.46 | |||
1163 STRIKE 1163Strike | $0.5628 | −7.17% | 9.11% | −2.92% | $10.13 M | $5.63 B | $33,033.00 | |||
1282 PIKA 1282Pika Protocol | $0.4369 | −0.04% | 1.69% | 7.84% | $8.30 M | $43.69 M | $6.47 | |||
1288 MCB 1288MUX Protocol | $2.15 | −0.92% | −8.12% | 10.26% | $8.22 M | $10.33 M | $4.25 | |||
1343 DNT 1343district0x | $0.007533 | 0.69% | 21.44% | 12.29% | $7.53 M | $7.53 M | $41,173.72 | |||
1425 1425 SYMMIO | $0.007786 | −10.71% | −10.02% | −28.63% | $6.54 M | $6.65 M | $26,919.00 | |||
1484 LV 1484leverup | $0.06615 | 1.88% | 9.16% | −6.21% | $5.95 M | $66.15 M | $92.99 | |||
1900 PERP 1900Perpetual Protocol | $0.02214 | 1.75% | 7.05% | 9.02% | $2.93 M | $3.32 M | $64,360.28 | |||
2099 MKL 2099Merkle Trade | $0.02252 | 0.00% | 0.41% | −47.36% | $2.25 M | $2.25 M | $0.54 | |||
2113 XPRT 2113Persistence | $0.01035 | −5.88% | 148.50% | 395.44% | $2.21 M | $2.21 M | $24,234.92 | |||
2292 SRM 2292Serum | $0.006711 | 2.51% | −30.82% | −11.72% | $1.77 M | $7.33 M | $11,983.15 | |||
2466 THALES 2466Thales | $0.2108 | 1.48% | −15.83% | −18.43% | $1.41 M | $20.96 M | $458.19 | |||
2500 DDX 2500DerivaDAO | $0.05185 | 0.19% | 3.12% | 6.27% | $1.35 M | $2.61 M | $656.51 | |||
2878 PREMIA 2878Premia | $0.01114 | −20.19% | −35.99% | −26.48% | $874,410.86 | $1.11 M | $2,622.25 | |||
3142 KILO 3142KiloEx | $0.003144 | 0.10% | 3.34% | −2.49% | $665,584.80 | $3.14 M | $617.74 | |||
3464 SPRK 3464SparkDEX | $0.006002 | −12.97% | −1.35% | 9.71% | $481,831.40 | $5.74 M | $6,146.25 | |||
3771 BNC 3771Bifrost | $0.009474 | 0.08% | 2.74% | −39.46% | $355,126.98 | $757,920.00 | $329,546.00 | |||
3940 LINA 3940Linear | $0.0000305 | 238.33% | 232.09% | 229.90% | $304,897.71 | $305,000.00 | $21.22 | |||
3970 OVL 3970Overlay Protocol | $0.005568 | −2.14% | −8.29% | −10.25% | $298,128.75 | $450,282.63 | $462.23 | |||
4132 SI 4132Siren | $0.00396 | 0.31% | 3.03% | 5.82% | $264,757.36 | $396,000.00 | $1.57 | |||
4692 NAVI 4692Navigator Exchange | $0.04483 | −2.18% | 0.97% | 30.27% | $168,849.19 | $47,519.93 | $238.67 | |||
4752 ZEX 4752Zeta Markets | $0.0008671 | 1.21% | −8.27% | −4.74% | $162,813.58 | $867,096.38 | $341.12 | |||
4988 DAFI 4988Dafi Protocol | $0.000119 | −6.72% | 0.50% | 9.60% | $135,535.96 | $267,750.00 | $71.20 | |||
5231 DERI 5231Deri Protocol | $0.0009178 | 4.64% | 5.67% | 1.25% | $114,445.83 | $443,309.31 | $6.52 | |||
5629 FOREX 5629handle.fi | $0.0004719 | −1.01% | −34.56% | −45.50% | $87,156.56 | $198,198.00 | $110.24 | |||
5676 BOND 5676BarnBridge | $0.01061 | 0.15% | 58.21% | −70.64% | $83,927.88 | $106,100.00 | $1,019.74 | |||
6011 OX 6011OX Coin | $0.00002004 | −0.68% | −0.56% | −22.49% | $65,802.16 | $65,802.16 | $17.50 | |||
6073 GOVI 6073CVI | $0.00198 | 4.12% | 9.07% | 21.58% | $63,360.00 | $63,360.00 | $29,658.31 | |||
6153 OPIUM 6153Opium | $0.01435 | 0.60% | 41.54% | 7.80% | $59,713.27 | $1.44 M | $27.70 | |||
6224 MIR 6224Mirror Protocol | $0.0007302 | 4.08% | −3.70% | −80.36% | $56,767.70 | $270,593.86 | $591.92 | |||
6266 HGET 6266Hedget | $0.03144 | −10.10% | −34.70% | −50.24% | $55,065.52 | $55,065.52 | $1,068.67 | |||
6618 LIEN 6618Lien | $0.1238 | −44.94% | −69.98% | 106.84% | $43,933.43 | $123,800.00 | $11,373.20 | |||
6719 TUNE 6719Bitune | $0.001312 | −1.64% | 7.25% | 6.41% | $41,067.50 | $131,200.00 | $22.53 | |||
7694 VRTX 7694Vertex | $0.00004021 | −10.08% | −23.63% | −17.87% | $21,245.42 | $40,210.00 | $0.96 | |||
7982 JRT 7982Jarvis Reward Token | $0.0005992 | −4.74% | −29.46% | −43.38% | $17,380.32 | $135,336.22 | $39.99 | |||
8208 AUC 8208Auctus | $0.0003718 | 0.22% | −0.28% | −0.57% | $15,005.42 | $24,475.45 | $2.06 | |||
8666 CORL 8666Coral Finance | $0.00004871 | 2.67% | 4.66% | −23.22% | $11,318.25 | $48,710.00 | $34.50 | |||
9689 PDGN 9689Degen Perp Dex | $0.00000548 | 1.69% | 1.69% | 9.20% | $5,480.00 | $5,480.00 | $11.97 | |||
10160 SAKE 10160SakeToken | $0.00002596 | 7.67% | −43.58% | 1088.20% | $2,644.35 | $3,537.79 | $81.49 | |||
10305 PTF 10305PowerTrade Fuel | $0.00001955 | 10.08% | −5.83% | −58.96% | $455.74 | $7,820.00 | $29.55 | |||
10403 DGTX 10403Digitex Token | $0.00000202 | −0.05% | 6.72% | −20.16% | -- | $18,584.00 | $146.41 | |||
10647 GDT 10647Globe Derivative Exchange | $0.00165 | 0.01% | 2.83% | 5.60% | -- | $660,000.00 | $41.91 | |||
11628 BMX 11628Boardwalk [OLD] | $0.1769 | 1.38% | 13.87% | −31.63% | -- | $479,588.01 | $42.96 | |||
12536 DTR 12536dextoro | $0.00001172 | −0.09% | 5.03% | 15.56% | -- | $11,697.85 | $0.3303 |
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.