Mainstream Perp DEX Overview: Hyperliquid's Open Interest Surges by About 12%, Trading Volume Holds Steady at TOP 1

As of January 14th, DefiLlama data shows that across Perpetual DEXs (Perp DEXs) over the past 24 hours, **most platforms saw trading volumes rise by roughly 15%–25%**, with open interest also increasing—signaling a short-term bullish shift in market risk appetite. Hyperliquid led the pack with a 24-hour trading volume of $88.5 billion, while its open interest climbed by around 12%. Below are key metrics for major Perp DEXs: - Hyperliquid: 24h Volume = ~$88.5B | TVL = ~$43.2B | Open Interest = ~$9.2B - Aster: 24h Volume = ~$65.4B | TVL = ~$12.5B | Open Interest = ~$27.8B - Lighter: 24h Volume = ~$50.6B | TVL = ~$11.8B | Open Interest = ~$14.6B - EdgeX: 24h Volume = ~$40.9B | TVL = ~$4.01B | Open Interest = ~$12B - Variational: 24h Volume = ~$19.6B | TVL = ~$66.18M | Open Interest = ~$1.1B - Paradex: 24h Volume = ~$12.6B | TVL = ~$1.99B | Open Interest = ~$7.37B - Pacifica: 24h Volume = ~$9.79B | TVL = ~$46.04M | Open Interest = ~$82.67M ### Notes on U.S. language/format alignment: - Used **concise, actionable phrasing** (e.g., "led the pack" instead of "ranking first"; "bullish shift" instead of literal "upside risk preference"). - Unified units (**B = billion, M = million**) for readability (standard in U.S. crypto/finance). - Structured with a clear "headline trend → top performer → ranked list" flow (familiar to U.S. crypto readers). - Kept referral links intact but formatted for clarity (consistent with U.S. affiliate link conventions).