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Mainstream Perp DEX Overview: Aster Leads with $11.2B in Trading Volume, Hyperliquid Ranks Second

2025.11.21 18:16:41

On November 21st, according to Defilama data, the 24-hour trading volume of various Perp DEXs has been on a continuous rise. Aster now ranks first with a trading volume of 112 billion US dollars. Hyperliquid has surpassed Lighter and taken the second place. The current partial Perp DEX trading volumes are as follows: Aster has a 24-hour trading volume of approximately 112.5 billion US dollars, a TVL of around 13.9 billion US dollars, and an open interest of 22.5 billion US dollars. Hyperliquid has a 24-hour trading volume of about 107.7 billion US dollars, a TVL of around 43.8 billion US dollars, and an open interest of 75.0 billion US dollars. Lighter has a 24-hour trading volume of around 101.3 billion US dollars, a TVL of around 12.1 billion US dollars, and an open interest of 17.5 billion US dollars. EdgeX has a 24-hour trading volume of about 71.0 billion US dollars, a TVL of around 4.72 billion US dollars, and an open interest of 6.72 billion US dollars. ApeX has a 24-hour trading volume of about 27.3 billion US dollars, a TVL of around 48.77 million US dollars, and an open interest of 38.32 million US dollars. Backpack has a 24-hour trading volume of about 15.3 billion US dollars. The TVL is not disclosed at the moment, and the open interest is 1.89 billion US dollars. Variational has a 24-hour trading volume of about 13.5 billion US dollars, a TVL of around 69.46 million US dollars, and an open interest of 31.6 million US dollars. Pacifica has a 24-hour trading volume of about 10.8 billion US dollars, a TVL of around 41.64 million US dollars, and an open interest of 48.74 million US dollars.
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