Paradex, a decentralized derivatives exchange built on Starknet, has surpassed $250 million in options open interest after integrating Paradigm’s request-for-quote (RFQ) liquidity network around September 15, 2026. The integration enabled on-chain execution of multi-leg options strategies on Paradex for the first time. Open interest rose 2.6 times to $202 million within four days and crossed $250 million by late September, while daily options notional volume settled between $14.5 million and $17.6 million. A record single ETH options trade carried $15.76 million in notional value and a $45,220 premium, or about 0.29% of notional; that ratio was reportedly below typical costs on Deribit. Paradex uses Paradigm’s institutional RFQ network for off-chain price discovery and settles trades on Starknet, whose zero-knowledge technology can limit public exposure of trade details. The milestone comes as options have become the dominant part of Paradex’s open interest, reversing the platform’s earlier reliance on perpetual futures.