About & Methodology

Perp Ranking is one honest table for comparing perpetual DEXs. This page explains exactly where the numbers come from, what we can and cannot verify, and what every term means.

AboutWhy this exists

Token screeners tell you a coin's price. They do not tell you which perpetual DEX has the deepest liquidity, the lowest fees, or the funding you would actually pay. Perp Ranking puts that side by side: 24h volume, open interest, markets, maker/taker fees, max leverage and market model, across the venues that matter.

We track newer venues (Aster, Lighter, RISEx, edgeX and more), not just the top three, and we flag which ones have no token yet for people watching for airdrops. We are not a trading venue and we never take custody of anything.

MethodologyHow the data is sourced

Every row is one of two kinds, and we never blur them:

● LIVE Pulled directly from the venue's own public API, server-side, and refreshed roughly every minute with a UTC timestamp on the table. If a row has the green LIVE badge, the volume, open interest and market count are that venue's real numbers right now.

Venue	Public source	Live fields
Hyperliquid	`api.hyperliquid.xyz/info`	vol, OI, markets, funding
Aster	`fapi.asterdex.com`	vol, markets, funding
Lighter	`mainnet.zklighter.elliot.ai`	vol, OI, markets

CURATED The remaining venues show hand-checked reference figures, not live data. They carry no LIVE badge on purpose. Treat them as directional and verify on the exchange before trading. We are wiring more venues to live sources over time, and each one earns its LIVE badge only when it is genuinely live.

Fees are shown in basis points (bps), where 1 bp = 0.01%. Volume and open interest are in USD. Token status, fees, leverage and market counts for curated venues are maintained by hand and can change. We do not fabricate a LIVE badge, and we do not invent numbers we cannot source.

IndependenceHonesty & funding

Perp Ranking currently takes no paid placement. Ranking is by real 24h volume, not by who pays. If we ever add affiliate links or sponsored slots, we will label them plainly on this page and in the footer, so you always know what is neutral and what is not.

Not financial advice. Perpetual futures are high risk and leverage can liquidate your entire position. Nothing here is a recommendation to trade any venue or asset.

GlossaryPerp terms in plain English

Perp DEX: A decentralized exchange for perpetual futures. You trade with leverage straight from your own wallet, usually with no signup or KYC, and no company holds your funds.
Perpetual (perp): A futures contract with no expiry date. A funding mechanism keeps its price tethered to the underlying spot price.
Funding rate: A small recurring payment exchanged between longs and shorts to keep the perp price near spot. When most traders are long, longs pay shorts, and the other way around. It can quietly work for or against your position.
Open interest (OI): The total USD value of all open positions on a venue. Higher OI generally means deeper, more active markets and less slippage on larger orders.
Maker / Taker fee: A maker adds liquidity with a resting limit order; a taker removes it with a market order. Shown here in bps. Some venues pay makers a rebate (shown as a negative number).
Leverage: A multiplier on your position size. 50x means a small move can multiply gains, and just as fast, liquidate you.
Liquidation: When your margin falls below the maintenance requirement, the venue force-closes your position. With high leverage this happens on small moves.
Orderbook vs AMM / Pool: An orderbook matches bids and asks like a centralized exchange. An AMM or pool model trades you against a shared liquidity pool instead.
Basis points (bps): A unit for small percentages. 1 bp = 0.01%, and 100 bps = 1%. Trading fees are usually quoted in bps.
No token / Airdrop watch: Venues that have not launched a token yet. Trading them now may position you for a future airdrop, but this is never guaranteed. Always do your own research.

ContactReach out

Corrections, listing requests, or partnership enquiries are welcome. Use our contact form and we will reply by email.