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Perp DEX Tracker
The top perpetual DEXs ranked by 24h fees, with their 7-day trend, so you can see which perp venues are heating up or cooling down.
| # | Perp DEX | Fees 24h | Fees 7d | 7d trend |
|---|---|---|---|---|
| 1 | Hyperliquid | $1.84M | $11.25M | -4.5% |
| 2 | Jupiter | $148k | $1.03M | -20.1% |
| 3 | Aster | $128k | $905k | +1.5% |
| 4 | GMTrade | $110k | $723k | +39.9% |
| 5 | Lighter | $73k | $510k | -10.7% |
| 6 | Extended | $66k | $378k | +0.3% |
| 7 | Antarctic | $41k | $288k | -1.2% |
| 8 | GMX V2 | $30k | $338k | +13.7% |
| 9 | edgeX V2 | $29k | $392k | -61.8% |
| 10 | edgeX | $23k | $132k | +14.4% |
| 11 | Apex Omni | $19k | $261k | +141.0% |
| 12 | Nado | $19k | $163k | +2.7% |
| 13 | Catapult Trade | $18k | $124k | -8.8% |
| 14 | Avantis | $16k | $78k | +13.7% |
| 15 | Hyperliquid HLP | $14k | $84k | -2.9% |
| 16 | SoDEX | $13k | $59k | +24.1% |
| 17 | Perpl | $13k | $78k | +8.7% |
| 18 | Gains Network | $11k | $128k | +53.9% |
| 19 | TxFlow | $10k | $66k | +11.5% |
| 20 | Decibel | $9k | $72k | -20.6% |
| 21 | AFX | $6k | $86k | +46.5% |
| 22 | SynFutures V3 | $5k | $53k | +2.3% |
| 23 | Orderly | $5k | $36k | +23.3% |
| 24 | dYdX V4 | $4k | $57k | -34.2% |
| 25 | Derive V2 | $4k | $24k | +12.7% |
Fees data from the open DeFiLlama API, refreshed on each deploy. The 7-day trend compares the last 7 days to the 7 before.
How to read perp DEX activity
A perpetual DEX earns fees from the trading that flows through it, so 24h fees are a clean proxy for how much real activity a venue is capturing right now. Hyperliquid has led perp DEX fees by a wide margin, with GMX, Jupiter and a long tail of newer venues behind it.
The 7-day trend compares the last week to the week before, so a positive number means a venue is heating up and a negative one means it is cooling down. It is a fast way to spot momentum shifting between perp DEXs before it shows up in the headlines.
Fees follow volume, and volume follows narrative, incentives and funding. Whichever venue you trade on, Otomato monitors your perp positions and alerts you when funding, liquidation risk or a level you care about moves.
The complete guide
Why fees are the cleanest activity signal
A perpetual DEX only earns fees when people actually trade, so 24-hour fees are one of the hardest numbers to fake and one of the best proxies for real activity. Raw volume can be inflated by wash trading or incentive farming; fees track the trading that people were willing to pay for.
Hyperliquid has dominated perp DEX fees for most of 2026, often earning more than the entire rest of the category combined, with GMX, Jupiter and a fast-moving tail of newer venues competing behind it.
Reading the 7-day trend
The trend column compares the last seven days of fees to the seven before, so it tells you about momentum, not just size. A small venue with a large positive trend is gaining share; a large venue with a negative trend is cooling off.
- Positive trend: heating up, gaining traders or volume.
- Negative trend: cooling down, losing share or post-incentive.
- Big absolute fees + flat trend: an established, sticky venue.
Momentum between perp venues often shifts before the narrative catches up. Whichever venue you trade, Otomato monitors your positions and alerts you when funding, liquidation risk or a level you care about moves.
Frequently asked questions
- What does this perp DEX tracker measure?
- It ranks perpetual DEXs by their trading fees over the last 24 hours, using open data from DeFiLlama, and shows the 7-day-over-7-day change so you can see which venues are heating up or cooling down. Fees are a clean proxy for how much real trading activity a venue is capturing.
- Why fees instead of volume?
- Perp DEX fees track closely with volume and are reliably available for free, while granular volume feeds are increasingly paywalled. Fees also filter out low-quality wash volume better than raw notional, so they are a good signal of genuine activity and revenue.
- How often does the data update?
- The table is a snapshot refreshed on each site deploy, sourced live from DeFiLlama. Rankings shift constantly with market conditions, incentives and funding, so treat it as a current read rather than a fixed leaderboard. Otomato alerts you on the venues where you actually hold positions.
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