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Mainstream Perp DEX Overview: Recent Weak Liquidity, Lighter Trading Volume Leads

2 hours ago

December 26 – Per data from DefiLlama, mainstream perpetual futures DEXes (Perp DEXes) posted sluggish 24-hour trading volumes on Wednesday, with on-chain liquidity still failing to recover. Lighter led the pack in trading volume, while EdgeX overtook Hyperliquid to claim the second spot. Below is the latest 24-hour data for select Perp DEXes: - Lighter: ~$47.5B trading volume, ~$13.9B TVL, $15.1B open interest - EdgeX: ~$27.7B trading volume, ~$3.65B TVL, $7.42B open interest - Hyperliquid: ~$24.5B trading volume, ~$41.3B TVL, $70.9B open interest - Aster: ~$20.6B trading volume, ~$12.7B TVL, $24.2B open interest - ApeX: ~$15.9B trading volume, ~$46.35M TVL, $2.59B open interest - Variational: ~$10.9B trading volume, ~$66.18M TVL, $4.85B open interest - Backpack: ~$8.13B trading volume, TVL undisclosed, $2.16B open interest - Pacifica: ~$6.5B trading volume, ~$41.36M TVL, $61.9M open interest (Note: TVL = Total Value Locked; open interest = outstanding derivative contracts)
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