Perpetual
0.91%
0.01%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
10 HYPE 10Hyperliquid | $79.94 | 2.65% | −1.60% | −14.27% | $20.30 B | $75.83 B | $690.45 M | |||
44 ASTER 44Aster | $0.7146 | 2.12% | 2.79% | −3.22% | $1.93 B | $5.56 B | $61.42 M | |||
62 JUP 62Jupiter | $0.3171 | 9.33% | −4.00% | 14.62% | $1.05 B | $2.17 B | $75.59 M | |||
74 LIT 74Lighter | $3.19 | 5.58% | −4.73% | −31.47% | $799.30 M | $3.19 B | $53.53 M | |||
116 SUN 116Sun Token | $0.01655 | 0.19% | 0.26% | −3.80% | $318.13 M | $317.74 M | $14.61 M | |||
128 BP 128Backpack | $1.08 | −3.81% | 0.09% | 21.28% | $271.75 M | $1.09 B | $4.42 M | |||
148 PAPER 148Papertrade | $0.02597 | −7.64% | 5.71% | 6.32% | $228.00 M | $228.00 M | $1.31 M | |||
149 DRV 149Derive | $0.3917 | −0.49% | −10.19% | −0.87% | $227.57 M | $392.30 M | $9.50 M | |||
227 EDGE 227edgeX | $0.2943 | 3.43% | −10.97% | −46.25% | $103.01 M | $295.30 M | $545,468.41 | |||
230 GENIUS 230Genius | $0.3048 | 1.74% | −4.59% | −19.33% | $102.22 M | $290.77 M | $2.44 M | |||
234 DYDX 234dYdX | $0.1182 | 4.96% | −12.49% | −7.48% | $100.03 M | $113.47 M | $2.09 M | |||
254 GMX 254GMX | $8.05 | −1.92% | −6.91% | 5.26% | $85.98 M | $86.09 M | $1.34 M | |||
303 O 303o1.exchange | $0.43 | 2.86% | −10.67% | −21.66% | $68.81 M | $422.40 M | $970,353.06 | |||
434 AVNT 434Veranta (formerly Avantis) | $0.1132 | 9.36% | −10.50% | 5.07% | $40.62 M | $113.60 M | $4.63 M | |||
465 APEX 465ApeX | $0.2392 | 2.99% | 2.82% | 4.78% | $37.10 M | $119.85 M | $1.50 M | |||
508 RTX 508RateX | $0.5543 | −13.57% | −16.37% | −20.84% | $9.23 M | $55.43 M | $1,262.53 | |||
598 GRVT 598GRVT | $0.2492 | 10.44% | 22.23% | 35.17% | $28.49 M | $250.60 M | $15.56 M | |||
714 AEVO 714Aevo | $0.02269 | 3.72% | −7.38% | −5.28% | $21.16 M | $22.66 M | $2.60 M | |||
880 F 880SynFutures | $0.002904 | 3.72% | −6.70% | −21.17% | $14.74 M | $29.10 M | $1.04 M | |||
884 FUL 884Fulcrom | $0.0008759 | 0.39% | −4.53% | −10.50% | $14.63 M | $17.52 M | $1,089.68 | |||
899 MYX 899MYX Finance | $0.06008 | 11.09% | −4.69% | −23.16% | $14.13 M | $60.23 M | $4.99 M | |||
958 ORDER 958Orderly | $0.031 | 4.27% | −9.37% | −16.80% | $12.77 M | $31.09 M | $1.88 M | |||
1015 GNS 1015Gains Network | $0.482 | 12.46% | −36.07% | 13.08% | $11.33 M | $11.66 M | $5.32 M | |||
1016 BASED 1016Based | $0.04949 | 4.90% | −0.84% | −25.29% | $11.63 M | $49.49 M | $5.44 M | |||
1045 ROLL 1045RollX | $0.06972 | −8.17% | −11.60% | −20.55% | $10.81 M | $70.46 M | $367,340.50 | |||
1121 DRIFT 1121Drift Protocol | $0.01549 | 2.49% | −9.58% | −3.14% | $9.47 M | $15.49 M | $865,824.25 | |||
1175 MCB 1175MUX Protocol | $2.28 | 0.88% | −1.72% | −3.38% | $8.71 M | $10.95 M | $485.44 | |||
1180 INX 1180Infinex | $0.004318 | 7.71% | −4.59% | −25.61% | $8.61 M | $43.21 M | $292,438.78 | |||
1216 DIME 1216Paradex | $0.04372 | −9.14% | −28.95% | −8.82% | $8.13 M | $43.72 M | $18,317.64 | |||
1255 PIKA 1255Pika Protocol | $0.398 | 1.87% | −3.38% | −7.36% | $7.56 M | $39.80 M | $26.93 | |||
1270 BUBI 1270Bullbit | $0.02617 | −2.76% | −16.99% | −43.07% | $7.42 M | $104.68 M | $14.10 M | |||
1286 THE 1286THENA | $0.0543 | 5.79% | −7.84% | −28.02% | $7.24 M | $15.47 M | $3.01 M | |||
1406 BLUE 1406Bluefin | $0.00905 | 3.41% | −8.17% | −12.79% | $5.70 M | $8.97 M | $287,248.00 | |||
1495 LV 1495leverup | $0.05362 | 4.06% | −11.16% | −10.11% | $4.83 M | $53.62 M | $39.36 | |||
1694 FT 1694Flying Tulip | $0.1396 | −1.16% | −10.81% | 32.82% | $3.54 M | $72.17 M | $22,274.00 | |||
1839 MKL 1839Merkle Trade | $0.02772 | 0.09% | −0.03% | 23.54% | $2.77 M | $2.77 M | $1.61 | |||
1881 VOOI 1881VOOI | $0.00759 | −0.76% | −1.65% | −16.64% | $2.62 M | $7.60 M | $165,391.74 | |||
1887 PERP 1887Perpetual Protocol | $0.01976 | −0.45% | −4.20% | −3.10% | $2.61 M | $2.96 M | $17,207.91 | |||
2685 GS 2685GammaSwap | $0.002082 | 1.93% | −2.88% | −9.70% | $891,552.99 | $3.33 M | $650.22 | |||
2847 2847 Nemesis | $0.000747 | 1.97% | −5.57% | −20.13% | $746,470.17 | $747,000.00 | $44.56 | |||
2978 KILO 2978KiloEx | $0.00304 | 1.27% | −2.53% | −0.31% | $643,568.00 | $3.04 M | $1,149.74 | |||
3001 LN 3001Lnfi Network | $0.006009 | −0.47% | −3.92% | 201.67% | $629,298.13 | $900,600.00 | $51,492.00 | |||
3239 AARK 3239Aark Digital | $0.0007687 | −4.12% | −15.43% | 10.59% | $481,925.75 | $538,994.22 | $5,570.92 | |||
3378 SUP 3378Superp | $0.0002492 | 44.47% | −55.67% | −74.97% | $148,563.10 | $696,300.00 | $77,152.81 | |||
3719 CYDX 3719CyberDEX | $0.0008594 | −9.72% | −28.45% | 50.08% | $300,195.92 | $1.38 M | $855.81 | |||
3740 OVL 3740Overlay Protocol | $0.00547 | −0.07% | −0.69% | −9.90% | $294,916.75 | $442,329.89 | $625.41 | |||
3786 KUMA 3786Kuma | $0.0002774 | −15.76% | 20.55% | −70.29% | $277,400.00 | $283,700.00 | $28,601.38 | |||
4368 NAVI 4368Navigator Exchange | $0.04629 | −7.57% | −5.54% | −10.42% | $174,348.19 | $49,067.53 | $36.66 | |||
4526 HMX 4526HMX | $0.03321 | −9.77% | −9.77% | 2.36% | $152,029.89 | $332,100.00 | $4.99 | |||
4725 STRPNK 4725Strategy Punks | $0.0001293 | 1.47% | −4.50% | 133.13% | $129,300.00 | $129,300.00 | $50.91 | |||
5150 FAF 5150Flash.Trade | $0.0000786 | −0.01% | −1.47% | −10.16% | $94,318.87 | $94,318.87 | $2.37 | |||
5238 LVL 5238Level | $0.005081 | 3.69% | 7.73% | 5.70% | $88,452.44 | $237,486.33 | $13,125.83 | |||
5839 QTO 5839Quanto | $0.00005816 | 2.12% | −1.93% | −3.48% | $56,042.03 | $57,053.64 | $25.09 | |||
6629 NFI 6629NetherFi | $0.0001189 | 0.00% | −2.11% | −2.11% | $32,170.63 | $47,560.00 | $12.18 | |||
8326 ADX 8326Adrena | $0.00000957 | 1.18% | −8.15% | −34.34% | $9,454.55 | $9,522.54 | $3.26 | |||
8736 BSX 8736BSX | $0.00003696 | 0.00% | −20.67% | −34.79% | $7,003.09 | $36,886.08 | $11.26 | |||
8856 PERC 8856Perpetual Exchange Protocol | $0.00000641 | 0.00% | −9.97% | −8.82% | $6,380.97 | $6,380.97 | $2.51 | |||
9265 LOGX 9265LogX Network | $0.00003377 | −6.23% | −13.31% | 5.26% | $4,390.09 | $33,770.00 | $1,234.24 | |||
9314 PERPEX 9314Perpex | $0.0000043 | 0.74% | −6.83% | −79.62% | $4,103.05 | $4,103.05 | $21.31 | |||
9711 UNW 9711Uniwhale | $0.00009706 | −7.03% | −10.70% | −15.45% | $812.67 | $1,558.00 | $122.18 | |||
10001 FST 10001Futureswap | $0.0₇328 | −0.04% | 21.39% | 12.35% | -- | $0.1123 | $1.22 | |||
12012 TMX 12012TMX | $0.7822 | −0.85% | −20.77% | 432.89% | -- | -- | $195.07 |
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.