How the directory works

Which venues are included

Decentralized perpetual futures exchanges that execute trades themselves. Wallets, bots and trading terminals that route orders to another venue are left out so the same activity is not counted twice. Prediction markets and options-only venues are excluded. The list is reviewed by hand and grows as new venues launch.

Sources

Open interest and fees come from DefiLlama’s free open-interest and fees data, including each listing’s daily history. 24-hour volume comes from CoinGecko’s derivatives-exchange data, reported in BTC and converted to USD with CoinGecko’s BTC price at the same capture. Token prices come from CoinGecko. Every response is stored with its SHA-256 hash and capture time.

Ranking

The default order is open interest, the value of open positions, because it is harder to inflate than reported volume. You can sort by volume, fees or 30-day change. Referral links never change the order.

Growth reading

For open interest we compare the average of the last 30 days with the previous 30 days; for fees we compare 30-day totals. A metric counts as rising or falling only beyond a threshold (OI ±25%, fees ±30%, volume ±40%) and only above a minimum base (OI $5M, fees $100K per 30 days, volume $100M per 30 days). With 180 days of history the 90-day change must agree at half the threshold. Each window needs 95% daily coverage, and data older than three days is marked stale. The overall label counts metric directions: Growing (some up, none down), Declining (some down, none up), Mixed, or Stable. There is no composite score.

Missing data

“—” means the source has no value, not zero. If one of a venue’s listings is missing, no partial total is shown. Venue-reported volume is not audited; volume above 25× open interest is flagged.

Volume history

Free sources do not provide complete daily volume history for every venue. We capture CoinGecko’s rolling 24-hour volume once per UTC day from 8 October 2026, so volume trends become available as that history builds.