Perp DEX data
Perp venues, side by side
Volume, open interest, fees and funding on each perpetual venue, collected every hour, next to what labeled Hyperliquid traders are holding.
Perp venues
TodayCheapest BTC entry: Lighter, 0.01 bp taker fee + half the spread, next Variational 0.98 bpMost 24h volume: Hyperliquid, $5.60B 52% of the 5 venuesFunding stands out: HYPE on Pacifica, Longs pay 0.24% a day 89.3% a year
| Venue | 24h volume | 7-day trend | Open interestOI | Taker | Maker | BTC funding | Markets | Points | Data |
|---|---|---|---|---|---|---|---|---|---|
 Hyperliquid | $5.60B | $12.49B | 0.045% | 0.015% | 0.027 bp/h Longs pay 0.006% a day 2.3% a year | 178 | None | ||
 Variational | $2.73B | $1.06B | 0% + spread | 0% | unit pending | 560 | RunningTier boost only | ||
 Lighter | $1.47B | $596M | 0% | 0% | -0.060 bp/h Shorts pay 0.014% a day -5.3% a year | 211 | None | ||
 Extended | $523M | $93.0M | 0.025% | 0% | -0.040 bp/h Shorts pay 0.010% a day -3.5% a year | 326 | RunningEstimate | ||
 Pacifica | $429M | $70.1M | 0.04% | 0.015% | 0.125 bp/h Longs pay 0.030% a day 10.9% a year | 77 | RunningWeekly pool, formula private |
Data: venue public APIs (volume, open interest, funding, markets), hourly. Fees and points: each venue's docs. Status dot: hover for the last collection time.
Compare by asset: BTC, ETH, SOL, HYPE →Fee calculator →Points programs →Funding gaps →
Trader pulse
BTC long / short72% long$57.2M long · $22.0M short · 63 wallets Most added, last 24hETH +$28.9Mnet size change at the latest price · 11 wallets added Largest new position todaySOL short $29Kopened by 00:00 UTC · Small but sharp wallet · view in Wallet watch Strategy Lab BetaAmong 467 labeled leaderboard wallets (Consistent 23, Small but sharp 200, High conviction 247; a wallet can carry more than one label). Snapshot 00:00 UTC, hourly. Aggregates of public positions, not trade signals. Data: Hyperliquid public API.
Top movers
Biggest 24h PnL
| Wallet | 24h PnL | Account |
|---|---|---|
| 0xdd53…2b13 | +$2.5M | $51.6M |
| 0x0392…d7d9 | +$1.5M | $17.1M |
| 0xfe7c…b7ae | +$1.4M | $26.6M |
| 0x469e…58a5 | +$1.3M | $26.4M |
| x.com/SilkBtc | +$1.3M | $23.6M |
| 0x7737…bf66 | −$3.6M | $48.5M |
| 0x082e…ca88 | −$2.7M | $25.2M |
| 0x60b0…991e | −$1.5M | $8.4M |
| 0x5b5d…c060 | −$1.3M | $247.6M |
| 0x77ee…2902 | −$1.3M | $8.4M |
New positions, last 24h
| Wallet | Position | Size |
|---|---|---|
| 0xec7f…df39 | ETH long | $27.1M |
| 0x7c36…d014 | ETH long | $271K |
| 0xac14…487e | HYPE long | $264K |
| 0xa516…37b0 | ZEC long | $258K |
Data: Hyperliquid leaderboard (24h window, every 6 hours; no vaults, protocols, market makers or non-trading wallets) and hourly snapshots of labeled wallets (positions of $250K or more that were not open, or were on the other side, at the start of the window). Public wallets, past activity only, not trade signals. Tag criteria
Today on Perp DEX
- New listingVariational listed COCOAPfirst seen in the 16:00 UTC snapshot · $1.1M 24h volume so far
- New listingVariational listed KOfirst seen in the 16:00 UTC snapshot · $66K 24h volume so far
- New listingVariational listed BEfirst seen in the 16:00 UTC snapshot · $49K 24h volume so far
- Docs changedLighter changed its fee docsthe numbers here stay as last checked until a person reads the new page
- FundingGRIFFAIN funding on Hyperliquid: 124% a year1.41 bp/h, longs pay shorts · $1.2M OI
- FundingUSELESS funding on Hyperliquid: 107% a year1.23 bp/h, longs pay shorts · $11.2M OI
- Open interestMEGA open interest on Hyperliquid +43% in 24h$6.5M → $9.3M, one side
- Open interestENA open interest on Variational +28% in 24h$5.4M → $6.9M, one side
Data: hourly venue snapshots on this site. New listing = first hour a symbol appears on a venue. Funding above 100% a year with $1M+ open interest; open interest moves of 25% or more on markets with $5M+. Facts, not trade signals.
Stablecoins $313.9B total · 24h +$630.4M (+0.20%) · on Hyperliquid L1 $7.42B −0.29% in 24h · 3 depeg alerts in 24h (00:00 UTC, DefiLlama) Stablecoins →
Hyperliquid ecosystemProject map, core project list and Hyperliquid chain metrics
Data: Hyperliquid API (HYPE, volume, OI) · DefiLlama (chain TVL)
Project map
Data: DefiLlama (TVL)
Core Project List
How to participate
Trade on HyperCore or stake HYPE with validators using the official app and documentation. Activity does not imply future reward eligibility.
How to participate
Spot assets bought on Hyperliquid route through Unit. Build qualifying volume by trading spot tokens; activity tracked per wallet.
How to participate
Provide liquidity to Hybra pools through the official app. Rewards depend on the pool; liquidity providers carry impermanent loss.
How to participate
Trade XYZ-deployed perps (SPX, individual stocks, commodities) on Hyperliquid. Volume + early activity should qualify for any future XYZ-side incentives.
How to participate
Trade Hyperliquid markets through the Based app. Fees include Hyperliquid's fee plus the app's builder fee; check the fee page before trading.
How to participate
Mint feUSD against supported collateral and keep the position active. Protocol participation accrues toward the airdrop.
How to participate
Deposit to earn the supply rate or borrow against collateral. Check the official app for listed assets, loan-to-value limits and liquidation terms.
How to participate
Supply to pooled or isolated lending markets, or mint USDXL against supported collateral and run leverage loops.
How to participate
Stake HYPE through the official app to receive kHYPE. kHYPE can be used as collateral in other HyperEVM protocols, which adds their smart-contract risk.
How to participate
Mint LHYPE through the official app. Looping adds leverage and liquidation risk; using LHYPE as collateral elsewhere adds that protocol's risk.
How to participate
Mint and use USDH across the ecosystem (HIP-3 perps settle in USDH; spot pairs on HyperCore). No formal issuer-side points program yet.
How to participate
Consult the Valantis staking documentation for minting, redemption and supported integrations.
How to participate
Launch or trade tokens on alt.fun. Early consistent activity should qualify for any future native token; specifics not yet published.
How to participate
Deposit into yield vaults or participate via validator delegation. Each surface tracks activity toward the points program.
How to participate
Swap tokens or provide liquidity to pools. Liquidity providers earn trading fees and carry impermanent loss.
How to participate
Provide liquidity to Project X pools to earn a share of trading fees plus points toward the native token.
How to participate
Deposit into a strategy vault through the official app. Read each vault's strategy and risk notes; returns are not guaranteed.
How to participate
Deposit USDC; the protocol pairs a spot long with an equal perp short, generating yield from funding payments.
How to participate
Provide liquidity to Nest pools to earn NEST emissions, or lock NEST as veNEST to vote on emissions and receive fees. Locked tokens cannot be withdrawn until the lock ends.
How to participate
Stake HYPE through Treehouse to mint tHYPE and deploy it across HyperEVM DeFi, then join the GoNuts program (points for holding/staking tAssets, campaigns, referrals) to chase later reward seasons.
Data: DefiLlama (TVL, 7d change, APY; descriptions are editorial)
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Project index
These links describe the projects tracked here, not every project in the ecosystem. For inclusion decisions and data limits, read the methodology. Scores are editorial opinion; incentive claims require checking official sources.