The daily size of the perpetual futures derivatives trading market exceeded $70 billion for the second time on record.
Cryptocurrency market data showed that daily volume on perpetual futures-based decentralised exchanges (Perp DEX) topped $70 billion on Feb. 5. It was the second-highest figure, after the sharp cryptocurrency selloff on Oct. 10, 2025, known as the “1011 flash crash”.
By platform, Hyperliquid ranked first with $24.7 billion. Aster followed with $10 billion, edgeX with $8.7 billion and Lighter with $7.5 billion. Aster, in particular, re-entered the top tier as liquidity refocused on the platform following the end of its Season 6 airdrop.
Perpetual futures DEXs are rapidly narrowing the gap with centralised exchanges in UI, execution speed and liquidation efficiency, expanding their base of active users.
Chi-gyu Hwang
delight@d-today.co.kr