Perpetual
0.96%
−0.03%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
9 HYPE 9Hyperliquid | $80.95 | −6.24% | −1.78% | 48.09% | $20.39 B | $77.05 B | $1.33 B | |||
38 ASTER 38Aster | $0.704 | −6.38% | −4.10% | 16.15% | $1.90 B | $5.49 B | $91.85 M | |||
57 LIT 57Lighter | $4.62 | −9.44% | 14.85% | 95.81% | $1.16 B | $4.60 B | $107.29 M | |||
71 JUP 71Jupiter | $0.2253 | −9.43% | −1.46% | 23.13% | $748.07 M | $1.55 B | $55.94 M | |||
108 SUN 108Sun Token | $0.01683 | −0.24% | 3.21% | −7.47% | $323.51 M | $323.51 M | $14.33 M | |||
145 EDGE 145edgeX | $0.5581 | −5.06% | 0.11% | 43.95% | $195.34 M | $557.30 M | $3.54 M | |||
181 BP 181Backpack | $0.5703 | −2.28% | 26.61% | 40.15% | $142.57 M | $570.30 M | $8.21 M | |||
222 DYDX 222dYdX | $0.1156 | −4.54% | 4.19% | 1.07% | $97.81 M | $110.78 M | $3.68 M | |||
225 GENIUS 225Genius | $0.2872 | −7.44% | 0.75% | −15.10% | $96.32 M | $273.98 M | $6.92 M | |||
239 DRV 239Derive | $0.15 | −8.62% | 3.05% | 57.86% | $87.18 M | $150.50 M | $9.12 M | |||
245 O 245o1.exchange | $0.5349 | −0.78% | −5.38% | 14.84% | $85.58 M | $534.90 M | $2.35 M | |||
271 GMX 271GMX | $7.46 | −10.89% | 2.17% | 19.72% | $78.01 M | $78.01 M | $2.36 M | |||
474 AVNT 474Avantis | $0.1001 | −6.32% | −2.53% | 5.16% | $35.33 M | $100.10 M | $6.38 M | |||
492 APEX 492ApeX | $0.2198 | 1.06% | −18.85% | 2.77% | $34.08 M | $109.65 M | $2.96 M | |||
507 RTX 507RateX | $0.7116 | 0.21% | −9.94% | −16.62% | $11.86 M | $71.16 M | $3,582.94 | |||
733 AEVO 733Aevo | $0.02168 | −7.50% | 0.36% | 2.39% | $20.22 M | $21.68 M | $2.60 M | |||
769 GRVT 769GRVT | $0.1662 | −1.31% | 2.79% | −53.50% | $19.01 M | $167.30 M | $6.15 M | |||
790 FUL 790Fulcrom | $0.001105 | −5.66% | −4.75% | 28.30% | $18.46 M | $22.10 M | $2,332.72 | |||
800 ROLL 800RollX | $0.1171 | −0.74% | −4.64% | −8.28% | $18.15 M | $117.20 M | $209,380.48 | |||
862 ORDER 862Orderly | $0.03973 | 10.90% | 18.01% | 31.69% | $16.38 M | $39.02 M | $12.58 M | |||
874 F 874SynFutures | $0.003226 | −6.62% | −3.70% | 12.31% | $15.74 M | $32.26 M | $1.95 M | |||
927 BASED 927Based | $0.05927 | −12.73% | −14.56% | −20.62% | $13.93 M | $59.26 M | $3.82 M | |||
929 MYX 929MYX Finance | $0.05898 | −14.68% | −11.24% | −21.00% | $13.87 M | $59.00 M | $8.08 M | |||
1042 INX 1042Infinex | $0.005573 | −14.18% | −16.16% | −32.87% | $11.11 M | $55.73 M | $770,828.21 | |||
1061 GNS 1061Gains Network | $0.455 | −6.58% | −12.38% | −13.81% | $10.62 M | $10.62 M | $410,248.16 | |||
1156 MCB 1156MUX Protocol | $2.35 | −1.67% | 3.07% | 13.53% | $8.98 M | $11.29 M | $752.35 | |||
1167 THE 1167THENA | $0.0668 | −8.72% | −7.82% | 2.81% | $8.90 M | $19.01 M | $68.31 M | |||
1289 DRIFT 1289Drift Protocol | $0.011659 | −3.08% | −2.42% | −13.78% | $7.13 M | $11.73 M | $1.27 M | |||
1370 DIME 1370Paradex | $0.009417 | −4.55% | −10.05% | −10.06% | $6.29 M | $9.42 M | $3,598.60 | |||
1478 LV 1478leverup | $0.05853 | −11.13% | −8.55% | 4.63% | $5.27 M | $58.53 M | $977.76 | |||
1480 BLUE 1480Bluefin | $0.009525 | −6.10% | 4.81% | 15.89% | $5.25 M | $9.53 M | $1.65 M | |||
1661 MKL 1661Merkle Trade | $0.03859 | −1.49% | −4.84% | −13.12% | $3.86 M | $3.86 M | $11.13 | |||
1825 VOOI 1825VOOI | $0.00858 | −3.94% | −10.72% | −8.10% | $2.96 M | $8.62 M | $210,166.96 | |||
1903 PERP 1903Perpetual Protocol | $0.01995 | −0.50% | 3.37% | 2.79% | $2.64 M | $2.99 M | $29,550.00 | |||
2041 FT 2041Flying Tulip | $0.1021 | −0.42% | 3.90% | 3.76% | $2.20 M | $1.02 B | $248,236.00 | |||
2118 SUP 2118Superp | $0.003977 | −17.55% | 68.08% | 8.52% | $1.97 M | $3.98 M | $44,334.92 | |||
2507 GS 2507GammaSwap | $0.00289 | −7.62% | −9.45% | −33.58% | $1.23 M | $4.62 M | $7,935.90 | |||
2570 TANGO 2570Contango | $0.002505 | −1.23% | 72.95% | 28.05% | $1.14 M | $2.51 M | $12.26 | |||
2694 KUMA 2694Kuma | $0.000986 | −2.27% | 17.79% | 36.71% | $985,999.99 | $985,999.99 | $23,463.31 | |||
3087 KILO 3087KiloEx | $0.00302 | −2.05% | −2.43% | 2.25% | $639,334.00 | $3.02 M | $3,552.63 | |||
3287 AARK 3287Aark Digital | $0.0008497 | −16.78% | 55.40% | −4.54% | $530,132.29 | $591,320.60 | $5,910.40 | |||
3431 3431 Nemesis | $0.000456 | −3.75% | 25.00% | 76.03% | $455,676.57 | $456,000.00 | $2,341.40 | |||
3749 OVL 3749Overlay Protocol | $0.006084 | 0.25% | −1.21% | −3.05% | $325,007.82 | $492,995.00 | $57,586.26 | |||
4408 LN 4408Lnfi Network | $0.001959 | 0.20% | 0.80% | −64.22% | $187,349.85 | $293,849.99 | $15,541.04 | |||
4782 CYB 4782Cyberperp | $0.03353 | −6.97% | −20.70% | −6.52% | $141,709.92 | $335,300.00 | $883.64 | |||
4837 FAF 4837Flash.Trade | $0.0001139 | −2.12% | −12.49% | −61.32% | $136,679.58 | $136,679.58 | $972.02 | |||
5036 NAVI 5036Navigator Exchange | $0.03126 | −25.18% | 11.13% | 36.29% | $117,738.70 | $33,135.69 | $2,015.42 | |||
5131 CYDX 5131CyberDEX | $0.0003162 | −6.44% | −92.95% | −9.19% | $109,850.64 | $505,920.00 | $3,835.06 | |||
5572 LVL 5572Level | $0.004595 | −3.03% | 0.29% | −10.32% | $79,991.92 | $214,770.65 | $138.49 | |||
5732 STRPNK 5732Strategy Punks | $0.00007093 | −5.29% | −16.22% | −38.63% | $70,930.00 | $70,930.00 | $4.18 | |||
6126 QTO 6126Quanto | $0.00005586 | −4.02% | −0.38% | 21.30% | $53,825.99 | $54,797.39 | $5.94 | |||
7381 BSX 7381BSX | $0.0001214 | −2.14% | 2.16% | −3.35% | $23,002.59 | $121,157.20 | $6.60 | |||
7511 NL 7511Niggaliquid | $0.00002126 | −4.44% | −0.39% | 34.76% | $21,260.00 | $21,260.00 | $0.037157 | |||
9627 ADX 9627Adrena | $0.00000429 | 6.01% | −47.15% | −94.51% | $4,238.25 | $4,268.86 | $14.90 | |||
9819 LOGX 9819LogX Network | $0.00002498 | −18.29% | −28.08% | 23.06% | $3,247.40 | $24,980.00 | $3,858.55 | |||
10039 UNW 10039Uniwhale | $0.0001052 | −6.12% | −6.18% | 2.69% | $880.83 | $1,688.66 | $11.47 | |||
11288 LEX 11288LEXER Markets | $0.0₁₂394 | −0.97% | 2463.20% | −61.54% | -- | $0.00000264 | $1.18 |
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.