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Overview of Mainstream Perp DEX: Aster ranks first with a trading volume of 11.2 billion, followed by Hyperliquid in second place

Nov 21, 2025 18:11:22

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According to Defilama data, the 24-hour trading volume of various Perp DEXs has been continuously rising, with Aster's trading volume at $11.2 billion currently in the lead, Hyperliquid surpassing Lighter to rise to second place. The current trading volumes of some Perp DEXs are as follows:

  • Aster 24-hour trading volume is approximately $11.25 billion, TVL is about $1.39 billion, and open contracts are $2.25 billion;

  • Hyperliquid 24-hour trading volume is approximately $10.77 billion, TVL is about $4.38 billion, and open contracts are $7.50 billion;

  • Lighter 24-hour trading volume is approximately $10.13 billion, TVL is about $1.21 billion, and open contracts are $1.75 billion;

  • EdgeX 24-hour trading volume is approximately $7.10 billion, TVL is about $472 million, and open contracts are $672 million;

  • ApeX 24-hour trading volume is approximately $2.73 billion, TVL is about $48.77 million, and open contracts are $38.32 million;

  • Backpack 24-hour trading volume is approximately $1.53 billion, TVL is not publicly available, and open contracts are $189 million;

  • Variational 24-hour trading volume is approximately $1.35 billion, TVL is about $69.46 million, and open contracts are $316 million;

  • Pacifica 24-hour trading volume is approximately $1.08 billion, TVL is about $41.64 million, and open contracts are $48.74 million.

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