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Perp DEX (decentralized perpetual futures exchanges) volumes rebound; Hyperliquid leads at $71.0B

DefiLlama data shows strong recovery in trading activity, with Hyperliquid posting $71.0B, Aster $38.2B, and Lighter $37.7B, alongside rising TVL and open interest across platforms.

HYPE

Summary

DefiLlama reports a sharp rebound in trading volumes and open interest among major Perp DEX platforms over the past 24 hours. Hyperliquid led with $71.0 billion in trading, followed by Aster at $38.2 billion and Lighter at $37.7 billion. Total value locked and open interest increased across all platforms, signaling renewed trader engagement and liquidity inflow into decentralized perpetual futures exchanges.

Terms & Concepts
  • Perpetual futures: Crypto derivatives with no expiry date, typically margined in stablecoins and rolled continuously.
  • TVL (total value locked): Aggregate value of assets deposited in a DeFi protocol’s smart contracts.
  • Open interest: The total number of outstanding derivative contracts, such as futures, that have not been settled.