Top Perp DEXs, ranked

Explore and compare the leading decentralized perpetual exchanges by volume, open interest, TVL and fees — with a community tier list and head-to-head breakdowns.

Data snapshot — updated July 2026
Rankings Tier List Best For Reviews Comparisons
Tracked perp DEXs
14
Combined 24h volume
$14.5B
Total open interest
$6.7B
Community top pick
Perpmate
#1

Perpmate ★ Community Choice

The best way to trade Hyperliquid. Voted the #1 perp DEX by our community for its clean, fast trading interface and advanced tools (mobile, copy-trading, bots and analytics) — all powered by Hyperliquid's deep liquidity and order book.

Trade on Perpmate Compare
◎ All chains
# Exchange 24h Volume Open Interest TVL Taker Fee Markets Chain
1 Perpmate ★ Community ChoiceBuilt on Hyperliquid ↗ $8.50B$4.20B$1.80B0.035%150 Hyperliquid
2
HyperliquidHyperliquid L1
 $8.50B$4.20B$1.80B0.035%150 Hyperliquid
3
Jupiter PerpsSolana
 $1.60B$650M$900M0.06%60 Solana
4
dYdXdYdX Chain
 $1.20B$420M$380M0.05%140 Cosmos
5
Drift ProtocolSolana
 $640M$240M$410M0.05%55 Solana
6
Vertex ProtocolArbitrum
 $520M$180M$95M0.03%80 Arbitrum
7
GMXArbitrum / Avalanche
 $480M$310M$520M0.07%45 Arbitrum
8
edgeXEthereum L2
 $410M$160M$110M0.038%60 Ethereum L2
9
AevoAevo L2
 $310M$140M$85M0.05%90 Ethereum L2
10
ApeX ProtocolMulti-chain
 $290M$120M$70M0.05%45 Multi-chain
11
ParadexStarknet L2
 $230M$95M$75M0.05%50 Starknet
12
Gains (gTrade)Arbitrum / Polygon
 $180M$85M$60M0.06%250+ Arbitrum
13
MUX ProtocolMulti-chain
 $90M$45M$80M0.08%35 Multi-chain
14
Vela ExchangeArbitrum
 $60M$30M$25M0.08%40 Arbitrum
Figures are indicative snapshots for comparison and education, not live data or financial advice. Perpmate is a Hyperliquid builder, so its volume and open interest mirror Hyperliquid's shared order book (≈ HL). Perpmate is highlighted as our community-choice pick; sort any column to rank by raw numbers. Always do your own research before trading with leverage.

Perp DEX Tier List (S–D)

Our community tier list weighs liquidity, fees, reliability, UX, chain coverage and token/points value. See the full tier list breakdown →

S
Perpmate Hyperliquid
A
Jupiter dYdX Drift Vertex
B
GMX edgeX Aevo ApeX

Compare perp DEXs head-to-head

Neutral, side-by-side breakdowns on fees, liquidity, chains and UX — including how Perpmate compares to the biggest venues.

VS

Perpmate vs Hyperliquid

The Hyperliquid-powered community pick vs trading Hyperliquid directly.

Compare →
VS

Hyperliquid vs dYdX

Two app-chain order books go head to head on volume, fees and markets.

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VS

Jupiter vs Drift

Solana's two biggest perp venues: pool-based vs order-book.

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VS

GMX vs Vertex

Liquidity-pool model vs an order book with an integrated money market.

Compare →
VS

Perpmate vs GMX

Hyperliquid order-book depth vs GMX's liquidity-pool model.

Compare →

All comparisons →

Browse every head-to-head and pick the right perp DEX for your strategy.

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Reviews & guides

Dive deeper into each exchange, or find the best perp DEX for your use case.

Perp DEX reviews →

In-depth reviews of all 14 venues — fees, liquidity, pros, cons and who each one is for.

Read reviews →

Best perp DEX for… →

Shortlists by use case: beginners, low fees, high leverage, Bitcoin, Solana, no-KYC and more.

See guides →

Frequently asked questions

What is the best perp DEX in 2026?
Perpmate is our community-voted top choice. Because it's built on Hyperliquid, it inherits the market's deepest perp order book and highest volume while layering on a cleaner interface and advanced tools. Measured on raw protocol volume, Hyperliquid leads, followed by Jupiter Perpetuals and dYdX — use the sortable table above to rank by any metric.
Is Perpmate the same as Hyperliquid?
Perpmate is a Hyperliquid builder: it trades on Hyperliquid's order book and liquidity, so its 24h volume and open interest mirror Hyperliquid's. The difference is the product layer — Perpmate focuses on a superior trading interface and tools (mobile, copy-trading, bots, analytics) rather than running separate liquidity.
What is a decentralized perpetual exchange (perp DEX)?
A perp DEX is an on-chain venue for trading perpetual futures without a central intermediary. You keep custody of funds in your own wallet and trade with leverage against an on-chain order book or liquidity pool, settling directly on the blockchain.
How do you rank perp DEXs?
We combine measurable on-chain metrics — 24h volume, open interest, TVL, fees, supported chains and available markets — with a community-choice signal reflecting trader sentiment on reliability, UX and value. Figures shown are indicative snapshots for comparison, not live data.

Find the right perp DEX for you

Compare the top decentralized perpetual exchanges side by side, or see where they land on our community tier list.

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