Daily trading volume on perpetual futures-based decentralised exchanges exceeded $70 billion on Feb. 5, according to cryptocurrency market data. It was the second-highest reading, after the so-called “1011 flash crash” on Oct. 10, 2025. By platform, Hyperliquid ranked first with $24.7 billion, followed by Aster with $10 billion, edgeX with $8.7 billion and Lighter with $7.5 billion. Aster re-entered the top group as liquidity refocused after its Season 6 airdrop ended. Perpetual futures DEXs are narrowing the gap with centralised exchanges in UI, execution speed and liquidation efficiency.