ArbiLayer

Best perpetual DEXs

Decentralized perpetual exchanges ranked by live 24h trading volume.

1Hyperliquid logoHyperliquidReferral code gives a 4% fee discount on the first $25M of volume$5.97B178 perps · 0.045% takerOpen ↗
2Lighter logoLighterWeekly points drops and a free Premium trial week via referral$2.47B213 perps · 0% takerOpen ↗
3Aster logoAsterStage 6 airdrop claims, trading points and referral fee sharing$1.96B604 perps · 0.04% takerOpen ↗
4Arcus logoArcusPerps access via invite code or waitlist, plus Arcus Points (Season 1)$644.5M60 perps · — takerOpen ↗
Fees and policies from each exchange's own pages; live numbers from exchange APIs.Not investment advice.

Why it matters

Perp DEXs let you trade futures from your own wallet without an exchange account. Volume is the best single sign of liquidity: tighter spreads and less slippage on larger orders.

Hyperliquid leads this ranking, ahead of Lighter and Aster. Rankings use one criterion at a time; compare the leaders on everything else below before you choose.

Compare the leaders

What is the best perpetual DEX?

Right now Hyperliquid ranks first ($5.97B), followed by Lighter and Aster.

How is this ranking made?

Decentralized perpetual exchanges ranked by live 24h trading volume.

Other rankings