Decentralized Perpetual Contract Exchanges Record $1.2 Trillion October Volume

According to Artemis, perpetual DEX trading hit a record $1.75 trillion in October, with Lighter, Aster, and Hyperliquid leading; prediction markets also broke records.

HYPE

Summary

Artemis reported that decentralized perpetual contract exchanges reached a record $1.75 trillion in trading volume in October 2025, surpassing the previously noted $1.2 trillion figure. Growth was driven by Lighter, Aster, and Hyperliquid. Additionally, prediction market platforms set a new record with $8.5 billion in volume, doubling the prior high, led by Kalshi’s $4.4 billion contribution.

Terms & Concepts
  • Perpetual contract: A type of cryptocurrency derivative with no expiry date, allowing traders to speculate on asset prices.
  • Decentralized exchange (DEX): A blockchain-based platform enabling peer-to-peer cryptocurrency trading without a central authority.
  • Trading volume: The total value of all trades conducted over a specific period on an exchange.