Polymarket Perps vs PopDEX
A side-by-side comparison of two perpetual DEXs using the same sources and capture time. Larger is not automatically better: check fees, markets, collateral and access rules for your own use.
- Polymarket Perps holds 1.2× the open interest of PopDEX ($117.25M vs $94.15M).
- Polymarket Perps’s average open interest moved +56.3% over 30 days.
 Polymarket Perps |  PopDEX | |
|---|---|---|
| Open interest | $117.25M | $94.15M |
| OI rank (of 50) | 9 | 11 |
| OI change · 30d | +56.3% | — |
| Volume · 24h | $20.39M | — |
| User fees · 30d | — | $1.06M |
| Fees change · 30d | — | — |
| Trend | Growing | Not enough data |
| Chains | — | Morph Tachyon |
| Model | Order book (hybrid: off-chain matching, settlement on Polygon) | Not classified yet |
| RWA markets | Yes | Yes |
| Token | None verified | None verified |
| Base trading fees | Taker 0.04% · maker 0.0125% ↗ | Taker 0.032% · maker 0.01% ↗ |
| Max leverage | 50× ↗ | 100× ↗ |
| Collateral | pUSD only (on Polygon) ↗ | USDT (deposits and futures settlement in USDT; other accepted tokens count at tiered discounts in the Unified Account) ↗ |
| KYC | No KYC step in onboarding ↗ | Not required ↗ |
| Referral program | Yes, but the referred trader gets no fee discount ↗ | Yes; any discount for the referred trader is set by the referrer. “The standard referral rebate is 20% of the invitee's net eligible fees. Referrers can choose to share a portion of this rebate with the invitee — the invitee receives their share as a rebate, and the remainder is retained by the referrer.” ↗ |
Open interest over time
- Polymarket Perps $117.25M
- PopDEX $94.15M
DefiLlama daily open interest. Missing days are left as gaps. The scale starts at zero.
Open interest and fees: DefiLlama, captured 08 Nov 2026 · 00:25 UTC. 24h volume: CoinGecko derivatives exchange data (rolling 24 hours, converted from BTC), captured 08 Nov 2026 · 00:25 UTC. Token prices and 30-day price change: CoinGecko, at the time shown on each venue page; a parent-project or chain token is labelled and is not evidence of a claim on exchange revenue. Changes compare the last 30 days with the previous 30 days (OI as a daily average, fees as a total) and need at least 95% daily coverage. A trend label needs the 30-day move to pass a threshold (OI ±25%, fees ±30%) on a minimum base (OI ≥ $5M, fees ≥ $100K per 30 days); with 180 days of history both horizons must agree. Venue-reported volume is not audited; ⚑ marks volume above 25× open interest. “—” means unavailable, never zero. Full method ↗