Every platform we track, with how it actually works underneath. Open interest and volume are live; chain, fee schedule, custody model and incident history are researched and maintained by hand.
A day of volume divided by the open interest carrying it. Roughly 1x means positions are held; 10x means the same notional changes hands ten times a day. High turnover has honest explanations, such as a market-maker programme or a book that is genuinely short term, so read it as a question rather than a verdict.
Researched profiles without a live feed yet. Either the venue publishes no public market API, its data sits in on-chain program accounts, or it is deprecated. The written record is accurate; the numbers are simply absent rather than guessed.
| Venue | Chain | Model | Status | Max lev |
|---|---|---|---|---|
| Antarctic Exchange | Arbitrum | Order book | live | - |
| Decibel | Aptos | Order book | live | 50× |
| Storm Trade |
| Nado | $76.33M | $208.49M | 2.7x |
| Arcus | $17.93M | $44.93M | 2.5x |
| Backpack Exchange | $89.08M | $201.27M | 2.3x |
| Bluefin | $802K | $1.56M | 1.9x |
| Lighter | $539.77M | $844.53M | 1.6x |
| Extended | $174.47M | $268.68M | 1.5x |
| RISEx | $53.90M | $68.46M | 1.3x |
| Variational | $816.70M | $802.07M | 1.0x |
| Aster | $1.14B | $910.98M | 0.8x |
| Orderly Network | $34.73M | $22.56M | 0.6x |
| Paradex | $9.72M | $4.09M | 0.4x |
| GRVT | $432.15M | $140.45M | 0.3x |
| Hyperliquid | $14.41B | $3.44B | 0.2x |
| dYdX v4 | $36.16M | $4.93M | 0.1x |
Withheld for edgeX: these venues expose open interest one symbol at a time, so we refresh a rotating slice and hold the figure for only 0% of their markets. A ratio built on that denominator would measure our coverage, not their book.
| TON |
| Oracle-priced pool |
| live |
| 50× |
| Flash Trade | Solana | Oracle-priced pool | live | 100× |
| Vertex Protocol | Arbitrum | Hybrid book + AMM | deprecated | 20× |
| dYdX v3 | Ethereum | Order book | deprecated | 20× |
| Perpl | Monad | Order book | live | 50× |
| Vest | Vest Chain | Order book | live | 20× |
| AFX | AFX L1 | Order book | beta | 50× |
| MUX Protocol | Arbitrum | Oracle-priced pool | live | 100× |
| SynFutures | Base | AMM | live | 100× |
| Ethereal | Ethereal | Order book | live | 50× |
| Ostium | Arbitrum | Oracle-priced pool | live | 200× |
| Avantis | Base | Oracle-priced pool | live | 100× |
| Gains Network | Arbitrum | Oracle-priced pool | live | 150× |
| Contango | Arbitrum | Intent-based | live | 50× |
| Velocity | Solana | Hybrid book + AMM | beta | 20× |
| Reya | Reya Network | Order book | live | 25× |
| Ondo Perps | Ethereum | Order book | live | 20× |
| GMX v1 | Arbitrum | Oracle-priced pool | deprecated | 50× |
| Polynomial | Polynomial | Order book | live | 50× |