Five Perpetual DEXs Account for 56.3% of $633.888 Billion in 30-Day Volume

Five decentralized perpetual exchanges recorded $357.019 billion in 30-day trading volume, or 56.3% of the sector total as of Oct. 22, 2026, concentrating activity among a group of venues with varied products and rules.

Across the market, 30-day volume stood at $633.888 billion and open interest was $13.767 billion. Open interest counts positions that remain open, while trading volume measures activity during a period.

Hyperliquid led the five listed venues with $208.072 billion in volume, more than three times Lighter’s $65.793 billion. Aster recorded $47.676 billion, edgeX $23.817 billion and ApeX Protocol $11.661 billion. ApeX Omni is ApeX’s perpetual exchange product.

A perpetual contract has no fixed end date. Recurring funding payments help keep its market price near the price of the underlying asset.

The venues use different market structures. Hyperliquid operates its order books on its own Layer 1 blockchain. Its HIP-3 system lets outside builders create perpetual markets and set terms, including leverage limits.

Lighter’s Standard Account charges no maker or taker trading fees, while its Plus and Premium accounts have separate fee schedules. The platform also lists equities, commodities and fixed-income markets that trade around the clock.

Aster provides order-book perpetuals and a separate on-chain liquidity product called 1001x. Leverage limits depend on the market and product.

edgeX offers stock perpetuals around the clock. When the underlying stock market is closed, the platform limits which orders traders can place and which prices they can use.

ApeX Omni combines perpetual trading with prediction markets that use Polymarket order books and liquidity. These event contracts are spot products, not leveraged perpetuals.

The volume figures show turnover, but do not establish how well orders execute or what trading costs a user faces. Those conditions also depend on market depth, funding, collateral and account-specific fees.