Analytics.

PERIOD SHARE

Stacked venue analytics from our owned daily metrics table. Use the period controls on each chart to compare daily, weekly, monthly and quarterly venue activity as the dataset fills.

Perps volume

Notional trading volume stacked by venue

LIVE$139.6BHyperliquid 36.7%

All$139.6B

Hyperliquid36.7%

Other11.6%

Aster Perps9.8%

GMTrade7.7%

tradeXYZ7.6%

Lighter6.4%

edgeX5.8%

Apex5.2%

Variational4.0%

Extended1.4%

Jupiter Perpetual Exchange1.0%

Ostium0.7%

dYdX0.7%

GMX0.4%

SynFutures0.3%

QFEX0.3%

Open interest

Open interest stacked by venue

LIVE$19.2BHyperliquid 52.4%

All$19.2B

Hyperliquid52.4%

tradeXYZ15.6%

Aster Perps9.6%

Variational5.0%

Lighter4.1%

edgeX2.9%

Grvt Perps2.3%

Extended1.4%

GMTrade1.2%

Ostium0.9%

Apex0.6%

Nado Perps0.5%

StandX Perps0.5%

Other0.5%

Pacifica Perps0.4%

Vest0.4%

Daily active users

Venue-level unique users once user activity sources are wired

DATA NEEDED0

USER DATA NEEDED

All0

Fees

Estimated trading fees stacked by venue

ESTIMATED$28.8MHyperliquid 60.1%

All$28.8M

Hyperliquid60.1%

Jupiter Perpetual Exchange8.4%

edgeX7.9%

Other4.6%

Aster Perps4.5%

tradeXYZ3.9%

Lighter3.2%

Ostium3.0%

GMX1.7%

Extended1.6%

Gains Network0.3%

Apex0.3%

SynFutures0.1%

Hyena0.1%

Kinetiq Markets0.1%

dYdX0.1%

Revenue per platform

Estimated platform revenue using an 85/15 taker-maker mix

ESTIMATED$19.1MHyperliquid 74.4%

All$19.1M

Hyperliquid74.4%

edgeX7.1%

Ostium3.6%

Jupiter Perpetual Exchange3.2%

Lighter3.1%

tradeXYZ2.2%

Extended2.1%

Nado Perps1.2%

GMX1.0%

GMTrade0.9%

Gains Network0.4%

Apex0.3%

Other0.3%

SynFutures0.2%

Kinetiq Markets0.1%

dYdX0.1%

RWA vs crypto — volume

Real-world-asset (stocks, FX, commodities, indices) share of perp volume — owned, forward-only

LIVE$47.0BCrypto 84.5%

All$47.0B

Crypto84.5%

RWA15.5%

RWA vs crypto — open interest

Real-world-asset share of perp open interest — owned, forward-only

LIVE$11.1BCrypto 72.7%

All$11.1B

Crypto72.7%

RWA27.3%

Venue onboarding checklist

Minimum inputs needed to add venues cleanly to the landing page and analytics page.

Venue metadata: id, display name, color, logo, website, trading URL and referral URL.

Market catalog: tradable pairs, canonical asset mapping, active/delisted status and contract type.

Core market data: mark price, index price, 24h change, 24h volume and open interest in USD terms.

Funding data: funding rate, native interval, countdown/next funding timestamp and unit convention.

Historical backfill: daily venue-level volume, open interest, fees, revenue and user activity, plus source labels and timezone rules.

Fees and revenue: maker/taker schedule, fee tiers, spread model or direct fee/revenue endpoint.

User activity: daily unique traders or wallets by venue, with a clear definition and deduping rules.

API operations: auth needs, rate limits, pagination, freshness timestamp, retries and failure modes.

Validation: unit checks, stale-data detection, duplicate market handling and sample payload fixtures.

Implementation: exchange registry entry, fetcher, landing-page card fields, analytics inclusion and test route.