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Mainstream Perp DEX Overview: Lighter Takes Top Spot, Hyperliquid Leads with $8.2 Billion in Trading Volume

2025.12.11 18:59:30

As of December 11th, DefiLlama data shows 24-hour trading volumes across Perpetual DEX (Perp DEX) platforms have broadly cooled in the past day. Hyperliquid has remained relatively resilient, leading in trading volume, while open interest and TVL (total value locked) across the sector have seen minimal overall shifts. Key 24-hour metrics for select Perp DEXs are below: - **Hyperliquid**: ~$82.7B 24h volume | ~$44.6B TVL | $68.5B open interest [Referral link: https://app.hyperliquid.xyz/join/NTOD] - **Lighter**: ~$70.8B 24h volume | ~$14B TVL | $17.9B open interest - **Aster**: ~$66.3B 24h volume | ~$13.6B TVL | $26.9B open interest [Referral link: https://www.asterdex.com/zh-CN/referral/aboter] - **EdgeX**: ~$49.5B 24h volume | ~$4.06B TVL | $8.3B open interest - **ApeX**: ~$32.4B 24h volume | ~$47.08M TVL | $90.9M open interest - **Backpack**: ~$14.6B 24h volume | TVL undisclosed | $2.03B open interest - **Variational**: ~$10.3B 24h volume | ~$66.18M TVL | $33.4M open interest - **Pacifica**: ~$9.2B 24h volume | ~$42.08M TVL | $65.92M open interest [Referral link: https://app.pacifica.fi/?referral=pacbot]
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