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.
Summed from each venue's own hourly candles, not from adding up rolling 24h figures, which would count the same trade around two dozen times. Venues marked est publish no reachable candle history, so their figure is the mean trailing-24h reading across the window. That is an unbiased estimate of average daily volume rather than a measurement, and it is labelled so it never passes as one.
| Venue | 7d volume | 30d volume | Avg day | Markets |
|---|---|---|---|---|
| Hyperliquid | $48.12B | $201.07B | $6.87B | 119 |
| Lighter | $10.79B | $46.23Best4% | $1.54B | 0 |
| Aster | $8.97B |
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 |
|---|---|---|---|---|
| dYdX v3 | Ethereum | Order book | deprecated | 20× |
| Storm Trade | TON | Oracle-priced pool | live | 50× |
| Flash Trade |
| $39.03B |
| $1.28B |
| 200 |
| ApeX Omni | $8.42B | $31.77B | $1.20B | 87 |
| Variational | $6.32B | $27.09Best1% | $903.07M | 0 |
| GRVT | $4.59B | $19.66Best1% | $655.39M | 0 |
| Pacifica | $4.27B | $21.51B | $610.13M | 35 |
| Extended | $2.96B | $13.51B | $423.08M | 97 |
| StandX | $1.86B | $7.96Best1% | $265.47M | 0 |
| Backpack Exchange | $952.43M | $3.97B | $136.06M | 72 |
| edgeX | $917.43M | $3.93Best4% | $131.06M | 0 |
| RISEx | $717.98M | $3.08Best3% | $102.57M | 0 |
| Nado | $624.25M | $638.72M24% | $89.18M | 65 |
| Orderly Network | $236.63M | $1.01Best4% | $33.80M | 0 |
| dYdX v4 | $224.39M | $497.67M48% | $32.06M | 32 |
| Arcus | $83.40M | $357.44Mest3% | $11.91M | 0 |
| Paradex | $50.31M | $316.72M | $7.19M | 79 |
| Bluefin | $11.61M | $49.75Mest3% | $1.66M | 0 |
| Lighter | $429.54M | $1.43B | 3.3x |
| StandX | $71.73M | $221.73M | 3.1x |
| Extended | $184.06M | $556.47M | 3.0x |
| Arcus | $5.20M | $14.74M | 2.8x |
| Backpack Exchange | $79.16M | $185.75M | 2.3x |
| Aster | $934.50M | $1.85B | 2.0x |
| GRVT | $352.82M | $636.56M | 1.8x |
| Bluefin | $837K | $1.41M | 1.7x |
| Variational | $641.94M | $884.25M | 1.4x |
| Nado | $66.55M | $88.56M | 1.3x |
| Paradex | $8.17M | $9.40M | 1.1x |
| dYdX v4 | $40.26M | $45.41M | 1.1x |
| Hyperliquid | $10.82B | $9.83B | 0.9x |
| Orderly Network | $39.57M | $31.57M | 0.8x |
| edgeX | $404.53M | $137.68M | 0.3x |
| Solana |
| Oracle-priced pool |
| live |
| 100× |
| Vertex Protocol | Arbitrum | Hybrid book + AMM | deprecated | 20× |
| Decibel | Aptos | Order book | live | 50× |
| 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× |
| GMX v1 | Arbitrum | Oracle-priced pool | deprecated | 50× |
| Polynomial | Polynomial | Order book | live | 50× |