Perpetual
0.96%
0.01%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
9 HYPE 9Hyperliquid | $67.18 | 1.02% | −2.35% | 16.42% | $17.00 B | $64.05 B | $154.63 M | |||
38 ASTER 38Aster | $0.621 | −1.00% | −2.93% | −0.48% | $1.68 B | $4.86 B | $38.41 M | |||
71 JUP 71Jupiter | $0.2016 | −2.13% | −15.46% | 27.42% | $669.71 M | $1.38 B | $15.37 M | |||
72 LIT 72Lighter | $2.59 | 0.42% | 13.82% | 60.34% | $649.00 M | $2.60 B | $36.92 M | |||
94 SUN 94Sun Token | $0.01849 | 0.25% | 7.69% | 12.00% | $355.39 M | $355.39 M | $59.78 M | |||
172 BP 172Backpack | $0.5824 | −2.47% | 7.89% | 101.62% | $145.60 M | $582.40 M | $1.39 M | |||
176 EDGE 176edgeX | $0.3998 | 3.83% | 65.31% | 8.67% | $139.72 M | $399.20 M | $7.13 M | |||
202 GENIUS 202Genius | $0.3426 | −2.89% | −11.94% | −27.99% | $114.87 M | $326.74 M | $9.97 M | |||
204 DYDX 204dYdX | $0.1321 | 3.34% | 4.32% | 11.63% | $112.27 M | $126.79 M | $5.88 M | |||
244 O 244o1.exchange | $0.546 | −7.33% | −4.58% | −11.42% | $87.36 M | $546.00 M | $1.37 M | |||
291 DRV 291Derive | $0.1225 | 3.74% | 13.14% | 8.58% | $71.04 M | $122.30 M | $1.22 M | |||
308 CYDX 308CyberDEX | $0.1822 | 0.01% | 0.11% | 35565.94% | $63.30 M | $291.52 M | $3,591.49 | |||
321 GMX 321GMX | $5.90 | −1.51% | 0.16% | 4.28% | $61.46 M | $61.46 M | $2.07 M | |||
354 FT 354Flying Tulip | $0.09487 | −0.33% | −0.93% | −4.06% | $53.04 M | $948.70 M | $234,591.00 | |||
451 APEX 451ApeX | $0.2764 | −0.91% | −0.42% | 8.28% | $38.28 M | $138.25 M | $1.00 M | |||
503 RTX 503RateX | $1.06 | −0.27% | 0.35% | 18.19% | $17.76 M | $106.60 M | $8,351.29 | |||
545 AVNT 545Avantis | $0.0967 | −1.66% | −0.17% | −15.07% | $31.78 M | $96.53 M | $4.39 M | |||
653 BASED 653Based | $0.10 | 6.42% | 9.79% | 44.39% | $23.46 M | $99.84 M | $5.82 M | |||
775 AEVO 775Aevo | $0.01911 | −2.53% | 0.11% | −3.86% | $17.54 M | $19.12 M | $3.23 M | |||
808 FUL 808Fulcrom | $0.0009724 | −0.87% | −8.41% | 10.03% | $16.25 M | $19.45 M | $1,632.71 | |||
833 F 833SynFutures | $0.00341 | −2.81% | −2.78% | −15.08% | $15.23 M | $33.97 M | $3.81 M | |||
854 INX 854Infinex | $0.007356 | −3.16% | −5.85% | −25.74% | $14.63 M | $73.35 M | $2.49 M | |||
868 GNS 868Gains Network | $0.612 | −0.45% | −3.21% | 1.76% | $14.34 M | $14.34 M | $608,666.61 | |||
879 MYX 879MYX Finance | $0.07329 | −6.51% | −9.36% | −68.71% | $13.96 M | $73.16 M | $9.14 M | |||
900 ORDER 900Orderly | $0.0337 | −0.36% | −7.39% | −15.23% | $13.41 M | $33.82 M | $4.53 M | |||
1093 ROLL 1093RollX | $0.05902 | −2.74% | −12.70% | −29.24% | $9.14 M | $58.97 M | $117,153.65 | |||
1104 DRIFT 1104Drift Protocol | $0.01454 | −0.14% | −9.36% | −10.72% | $8.89 M | $14.54 M | $3.38 M | |||
1198 THE 1198THENA | $0.0539 | −3.02% | −12.54% | −6.30% | $7.19 M | $15.36 M | $4.01 M | |||
1205 MCB 1205MUX Protocol | $1.87 | −0.53% | 0.00% | −11.85% | $7.15 M | $8.98 M | $24.57 | |||
1353 LV 1353leverup | $0.05758 | −3.96% | 7.26% | 21.46% | $5.18 M | $57.58 M | $1,540.75 | |||
1392 BLUE 1392Bluefin | $0.009666 | −3.28% | −15.67% | −14.89% | $4.95 M | $9.42 M | $1.38 M | |||
1538 FAF 1538Flash.Trade | $0.003149 | −1.79% | −6.62% | −6.45% | $3.78 M | $3.78 M | $3,591.03 | |||
1572 MKL 1572Merkle Trade | $0.03555 | −0.18% | −5.32% | −8.28% | $3.56 M | $3.56 M | $15.03 | |||
1684 DIME 1684Paradex | $0.01359 | 13.23% | −19.36% | 8.18% | $3.01 M | $13.59 M | $1,113.69 | |||
1729 VOOI 1729VOOI | $0.008147 | −7.21% | −9.68% | 111.25% | $2.80 M | $8.12 M | $135,583.64 | |||
1998 GS 1998GammaSwap | $0.005345 | 0.88% | 2.67% | −14.13% | $1.90 M | $8.55 M | $781.46 | |||
2252 PERP 2252Perpetual Protocol | $0.01912 | −1.31% | 1.09% | 2.20% | $1.39 M | $2.87 M | $118,059.29 | |||
2450 KUMA 2450Kuma | $0.001112 | −9.11% | −19.22% | −22.96% | $1.11 M | $1.11 M | $45,754.11 | |||
2494 AARK 2494Aark Digital | $0.001734 | −3.65% | 27.33% | 31.86% | $1.05 M | $1.19 M | $660.35 | |||
2835 KILO 2835KiloEx | $0.003375 | 0.10% | −1.23% | −25.89% | $714,487.50 | $3.38 M | $664,646.00 | |||
3197 SUP 3197Superp | $0.002697 | −3.81% | −32.45% | −39.29% | $471,975.00 | $2.70 M | $267,344.75 | |||
3269 LN 3269Lnfi Network | $0.004975 | 0.33% | 5.51% | 16.90% | $431,000.31 | $4.98 M | $12,925.76 | |||
3458 OVL 3458Overlay Protocol | $0.007412 | −0.39% | −1.42% | 3.89% | $363,712.41 | $615,126.12 | $55,457.12 | |||
3499 3499 Nemesis | $0.0003504 | 1.54% | −15.54% | −18.00% | $350,151.47 | $350,400.00 | $7,093.78 | |||
4145 CYB 4145Cyberperp | $0.04454 | −2.96% | −0.27% | −54.62% | $186,396.80 | $445,400.00 | $1.13 | |||
4506 ADX 4506Adrena | $0.0001358 | 2.14% | −27.05% | −61.54% | $134,163.44 | $135,132.65 | $277.00 | |||
4536 LVL 4536Level | $0.00754 | −0.93% | −0.99% | −7.73% | $131,259.87 | $202,264.46 | $50.98 | |||
4866 NAVI 4866Navigator Exchange | $0.02658 | 4.67% | 5.43% | 22.50% | $100,111.79 | $28,174.87 | $744.56 | |||
4950 STRPNK 4950Strategy Punks | $0.00009415 | −0.12% | −0.79% | 26.49% | $94,150.00 | $94,150.00 | $75.32 | |||
5831 QTO 5831Quanto | $0.00004899 | −1.83% | −6.35% | −6.46% | $47,206.40 | $47,206.40 | $4.62 | |||
6098 BSX 6098BSX | $0.0001353 | −0.13% | 1.83% | 43.26% | $38,256.22 | $135,029.39 | $2.02 | |||
7178 NL 7178Niggaliquid | $0.00001567 | −1.86% | 13.97% | 43.98% | $15,670.00 | $15,670.00 | $0.00039141 | |||
8896 LOGX 8896LogX Network | $0.00002061 | 0.93% | −0.05% | −45.28% | $2,679.30 | $20,610.00 | $254.01 | |||
9016 UNW 9016Uniwhale | $0.0002065 | −1.07% | −79.81% | −76.25% | $1,729.01 | $3,314.72 | $3.88 | |||
10214 DPEX 10214DPEX | $0.00001038 | 0.00% | 0.97% | −0.87% | -- | $12,975.00 | $1.12 |
Frequently Asked Questions
What is the Perpetual category and what are perp DEXs?
The Perpetual category groups tokens of perp DEX protocols — decentralized exchanges that host perpetual futures contracts on-chain. Perpetual DEXs let traders open leveraged long or short positions with no expiry date, settled in stablecoin collateral rather than the underlying asset. The category matters because derivatives volume now exceeds spot trading across most of crypto, and perp DEXs are the on-chain venue capturing that flow. DropsTab tracks more than 55 perpetual projects with a combined market cap above $15B.
How do perpetual futures work?
Perpetual futures are derivative contracts that track an asset's price without an expiry date, allowing positions to stay open indefinitely. A funding-rate mechanism keeps the perpetual price anchored to the spot price. Traders apply leverage to control positions larger than the deposited collateral, amplifying both gains and liquidation risk. Most perpetual DEXs settle profit and loss in stablecoins and trigger liquidations from a mark price derived from spot and contract prices.
What is a funding rate in perpetual contracts?
A funding rate is a periodic payment exchanged between long and short position holders, typically every 8 hours. When the perpetual price trades above spot, long holders pay short holders; when the perpetual price trades below spot, short holders pay longs. The funding rate keeps the contract price aligned with spot and signals positioning — persistently high rates flag crowded one-sided trades and elevated reversal risk. Hyperliquid and dYdX publish live funding rates per market.
Which perp DEX leads by trading volume and market share?
Hyperliquid (HYPE) leads all perp DEXs by trading volume, handling the majority of decentralized perpetuals volume on most days in 2026. Hyperliquid is the only major perp DEX to gain volume share through early 2026, while most competitors lost ground over the same period. Volume share matters because perp DEX revenue scales with trading activity, tying protocol fees directly to token value. Aster (ASTER) and edgeX rank among the next-largest venues by volume.
How are the top perp DEX tokens ranked by market cap?
Hyperliquid (HYPE) ranks largest in the Perpetual category by a wide margin, holding the majority of category market cap. Aster (ASTER) ranks second, followed by Jupiter (JUP) and Lighter (LIT). Market-cap ranking helps investors separate established perp DEX leaders from smaller, higher-risk entrants. DropsTab ranks more than 55 perpetual projects by market cap, FDV, and trading volume on a single category page.
What are the main risks of perp DEX tokens?
Concentration risk defines the Perpetual category — Hyperliquid (HYPE) holds the majority of category market cap, creating single-protocol dependency where one outage or exploit would cascade across the sector. Regulatory risk is high: perpetual futures face US scrutiny, and leading front-ends including Hyperliquid remain inaccessible to US users, capping the addressable market. Dilution risk persists where token FDV far exceeds market cap, signaling large pending unlocks. Liquidation-engine and smart-contract failures remain live technical risks under high leverage.
How do token unlocks affect perpetual DEX investors?
Token unlocks release previously locked supply into circulation, raising sell pressure when large allocations vest. For perpetual DEX tokens, FDV far exceeding circulating market cap signals significant pending unlocks — Hyperliquid (HYPE) carries an FDV several times the circulating market cap. Unlock timing concentrates risk when team and early-investor allocations vest simultaneously. DropsTab tracks per-token unlock schedules for perpetual projects on the DropsTab Vesting calendar.
Who funds perp DEX projects?
Perp DEX funding models split sharply. Hyperliquid (HYPE) launched with no venture capital, no presale, and no outside investors, funding development through trading revenue. Aster (ASTER) drew backing linked to YZi Labs, while dYdX (DYDX) routes 75% of net protocol revenue into DYDX token buybacks. Funding structure signals token-holder alignment — self-funded and revenue-buyback models return value to holders, while heavy VC backing concentrates early unlock supply. DropsTab records funding rounds and investor profiles for perpetual projects.