Perpetual
0.77%
0.71%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
9 HYPE 9Hyperliquid | $52.07 | −3.87% | −8.74% | −18.47% | $13.15 B | $49.62 B | $174.76 M | |||
38 ASTER 38Aster | $0.598 | 0.09% | −4.16% | −4.90% | $1.62 B | $4.68 B | $33.62 M | |||
70 JUP 70Jupiter | $0.1924 | 0.38% | 3.93% | −18.31% | $637.17 M | $1.32 B | $13.25 M | |||
77 LIT 77Lighter | $2.04 | −5.90% | 2.11% | 9.43% | $511.00 M | $2.04 B | $23.04 M | |||
90 SUN 90Sun Token | $0.01786 | −0.88% | −2.36% | 9.99% | $342.92 M | $342.92 M | $13.42 M | |||
175 EDGE 175edgeX | $0.3576 | −7.67% | −12.42% | 37.59% | $125.44 M | $358.40 M | $2.73 M | |||
191 GENIUS 191Genius | $0.3303 | 0.42% | −11.42% | −14.22% | $111.38 M | $316.81 M | $9.25 M | |||
209 BP 209Backpack | $0.3824 | 1.22% | −16.13% | −39.27% | $95.60 M | $382.40 M | $664,221.40 | |||
211 DYDX 211dYdX | $0.1121 | 3.00% | −8.90% | −43.34% | $94.96 M | $107.24 M | $4.23 M | |||
237 O 237o1.exchange | $0.4951 | −2.85% | 1.50% | −6.37% | $79.01 M | $493.80 M | $1.79 M | |||
275 DRV 275Derive | $0.1115 | −0.49% | −3.35% | 0.03% | $64.77 M | $111.50 M | $14.85 M | |||
282 CYDX 282CyberDEX | $0.1822 | −0.03% | 0.01% | 0.20% | $63.30 M | $291.52 M | $3,696.74 | |||
284 GMX 284GMX | $5.98 | −1.81% | −10.21% | 12.05% | $62.60 M | $62.60 M | $1.22 M | |||
462 GRVT 462GRVT | $0.2944 | 27.91% | −30.70% | −34.89% | $34.03 M | $297.70 M | $239.41 M | |||
480 APEX 480ApeX | $0.2202 | −5.44% | −16.38% | −18.50% | $32.21 M | $110.20 M | $2.29 M | |||
504 RTX 504RateX | $1.02 | 0.73% | −2.78% | −4.20% | $17.01 M | $102.10 M | $950.96 | |||
551 AVNT 551Avantis | $0.0833 | 0.37% | −5.40% | −4.96% | $27.87 M | $83.26 M | $3.76 M | |||
669 ROLL 669RollX | $0.13 | 1.30% | 18.28% | 78.12% | $20.10 M | $129.70 M | $180,493.14 | |||
695 AEVO 695Aevo | $0.02073 | 11.86% | 8.16% | 3.79% | $18.89 M | $20.60 M | $7.28 M | |||
708 BASED 708Based | $0.07843 | −2.07% | −7.05% | −31.30% | $18.48 M | $78.63 M | $2.59 M | |||
759 INX 759Infinex | $0.008255 | 7.37% | 16.33% | 2.88% | $16.46 M | $82.55 M | $336,507.47 | |||
780 FUL 780Fulcrom | $0.0009629 | 0.26% | 0.48% | 11.38% | $16.09 M | $19.26 M | $2,385.19 | |||
823 MYX 823MYX Finance | $0.07594 | 9.22% | −3.83% | −16.04% | $14.45 M | $75.76 M | $8.45 M | |||
884 F 884SynFutures | $0.00286 | −0.71% | −9.36% | −12.61% | $12.81 M | $28.57 M | $1.74 M | |||
938 GNS 938Gains Network | $0.494 | 0.34% | −7.44% | −16.98% | $11.59 M | $11.59 M | $368,387.34 | |||
949 ORDER 949Orderly | $0.0284 | 1.54% | −17.85% | −13.32% | $11.25 M | $28.23 M | $2.64 M | |||
1111 MCB 1111MUX Protocol | $2.13 | 0.47% | 18.99% | 13.90% | $8.14 M | $10.23 M | $505.99 | |||
1158 DRIFT 1158Drift Protocol | $0.01222 | 4.54% | −1.60% | −21.55% | $7.47 M | $12.22 M | $1.48 M | |||
1206 THE 1206THENA | $0.051 | 1.93% | −6.46% | −12.43% | $6.79 M | $14.51 M | $1.88 M | |||
1382 LV 1382leverup | $0.05369 | −1.25% | 0.72% | 18.97% | $4.83 M | $53.69 M | $60.13 | |||
1396 BLUE 1396Bluefin | $0.008561 | 1.24% | −4.12% | −23.11% | $4.69 M | $8.51 M | $110,955.62 | |||
1634 MKL 1634Merkle Trade | $0.03063 | −0.57% | −0.43% | −32.74% | $3.06 M | $3.06 M | $6.38 | |||
1682 FAF 1682Flash.Trade | $0.002374 | −2.54% | −18.41% | −21.34% | $2.85 M | $2.85 M | $2,938.21 | |||
1748 VOOI 1748VOOI | $0.007462 | −0.74% | −6.55% | 1.96% | $2.58 M | $7.47 M | $143,608.14 | |||
1794 DIME 1794Paradex | $0.0107 | 13.49% | 10.83% | 6.67% | $2.37 M | $10.70 M | $180.38 | |||
1888 FT 1888Flying Tulip | $0.09886 | −0.01% | 4.41% | 0.26% | $2.04 M | $988.60 M | $279,967.00 | |||
2110 GS 2110GammaSwap | $0.004245 | −2.43% | −7.90% | −10.58% | $1.53 M | $6.79 M | $240.37 | |||
2184 PERP 2184Perpetual Protocol | $0.01913 | 0.57% | −9.81% | 4.47% | $1.39 M | $2.87 M | $24,543.66 | |||
2258 SUP 2258Superp | $0.004128 | −35.73% | 44.07% | 30.52% | $1.27 M | $4.13 M | $21,876.53 | |||
2379 KUMA 2379Kuma | $0.00109 | −3.56% | −9.73% | −21.94% | $1.09 M | $1.09 M | $58,229.72 | |||
2550 TANGO 2550Contango | $0.001935 | −1.99% | −9.80% | 43.29% | $885,662.61 | $1.94 M | $386.95 | |||
2876 KILO 2876KiloEx | $0.002889 | −1.34% | −13.11% | −14.27% | $611,601.30 | $2.89 M | $1,246.40 | |||
3099 LN 3099Lnfi Network | $0.005514 | −4.84% | −14.76% | 16.18% | $475,823.62 | $827,100.00 | $47,760.00 | |||
3131 AARK 3131Aark Digital | $0.0007519 | 0.25% | 1.16% | −21.85% | $458,281.62 | $515,274.75 | $6,217.19 | |||
3437 OVL 3437Overlay Protocol | $0.006792 | −5.29% | −6.63% | −9.32% | $335,604.19 | $548,773.97 | $115,927.71 | |||
3818 3818 Nemesis | $0.0002362 | 7.03% | 17.67% | −23.87% | $236,032.46 | $236,200.00 | $1,617.59 | |||
4727 STRPNK 4727Strategy Punks | $0.0001066 | −1.03% | 24.48% | 26.20% | $106,600.00 | $106,600.00 | $24.85 | |||
4844 ADX 4844Adrena | $0.00009855 | −0.70% | −13.33% | −57.98% | $97,362.22 | $98,065.57 | $2.97 | |||
4961 LVL 4961Level | $0.005079 | −1.17% | −32.79% | −31.34% | $88,417.62 | $237,392.85 | $34.10 | |||
5253 NAVI 5253Navigator Exchange | $0.01861 | 3.71% | −8.89% | 0.44% | $70,093.32 | $19,726.65 | $230.99 | |||
5826 QTO 5826Quanto | $0.00004553 | −0.76% | −1.69% | −5.98% | $43,872.36 | $44,663.90 | $0.6992 | |||
8728 LOGX 8728LogX Network | $0.00002005 | −0.89% | −0.45% | −3.14% | $2,606.50 | $20,050.00 | $479.44 | |||
8896 UNW 8896Uniwhale | $0.00009652 | −0.42% | −54.18% | −89.67% | $808.15 | $1,549.33 | $6.69 |
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.