Perp DEX fees:
who earns the most.
30-day user fees for 65 perpetual DEXs, change versus the previous 30 days and fees per $1M of open interest. Updated daily from DefiLlama.
By PerpsAtlas Research · Data as of . The text below is calculated from the same capture as the directory and changes when the data does.
- 30-day fees, all tracked$136.75M
- Hyperliquid share64.0%
- Top-5 share81.7%
- Fees up vs prior 30d33 of 53
What the data shows
Traders paid $136.75M in fees over the last 30 days across the 65 perp DEXs in our directory that report fees to DefiLlama (captured 08 Oct 2026 · 12:17 UTC). Hyperliquid collected $87.56M, 64.0% of that total, and the five largest fee earners together took 81.7%.
Of the 53 venues with a complete previous 30-day window, 33 collected more fees than in the prior 30 days and 20 collected the same or less.
Fees relative to open interest vary widely. For venues with at least $5M of open interest, the median venue earned $7.35K in 30-day fees per $1M of open interest. The highest ratios were at Jupiter Perps, Pacifica and Nado. A high ratio can mean higher fee rates, more frequent trading or short holding periods; it is not a measure of what you would pay per trade.
These are user fees: what traders paid. They are not the same as protocol revenue (what the venue keeps after paying liquidity providers or others) and not the same as value reaching any token holder.
The 25 largest perp DEXs by 30-day fees
| # | Venue | Fees 30d | Prev 30d | Change | Per $1M OI |
|---|---|---|---|---|---|
| 1 |  HyperliquidHyperliquid L1 | $87.56M | $83.79M | +4.5% | $10.52K |
| 2 |  Jupiter PerpsSolana | $7.93M | $9.24M | -14.2% | $145.56K |
| 3 |  GMXArbitrum, Avalanche | $5.55M | $5.11M | +8.6% | $34.85K |
| 4 |  LighterRobinhood Chain, zkLighter | $5.39M | $4.80M | +12.3% | $6.27K |
| 5 |  AsterChain not listed | $5.36M | $5.65M | -5.1% | $3.92K |
| 6 |  edgeXedgeX L1 | $3.83M | $3.98M | -3.9% | $17.52K |
| 7 |  PacificaChain not listed | $3.70M | $3.38M | +9.3% | $57.10K |
| 8 |  AZX (AZverse)Chain not listed | $2.82M | $1.57M | +80.3% | — |
| 9 | AntarcticChain not listed | $2.69M | $1.79M | — | $7.64K |
| 10 |  NadoInk | $1.67M | $1.39M | +20.3% | $39.92K |
| 11 |  ExtendedEthereum, Starknet | $1.55M | $1.66M | -6.7% | $16.04K |
| 12 |  ArcusRobinhood Chain | $1.08M | $362.49K | +197.6% | $14.52K |
| 13 |  TxFlowTxFlow | $870.22K | $728.02K | +19.5% | $31.20K |
| 14 |  gTrade (Gains Network)ApeChain, Arbitrum | $800.25K | $479.91K | +66.8% | $317.62K |
| 15 |  DecibelAptos | $599.80K | $446.01K | +34.5% | $167.72K |
| 16 |  CatapultChain not listed | $550.68K | $617.32K | -10.8% | — |
| 17 |  Veranta (Avantis)Base | $414.10K | $199.50K | +107.6% | $6.33K |
| 18 |  SoDEXValueChain | $393.51K | $175.04K | +124.8% | $3.42K |
| 19 |  ApeX OmniArbitrum, Ethereum | $371.97K | $446.86K | — | $4.69K |
| 20 |  PrimitAvalanche | $330.11K | $195.89K | +68.5% | $5.20K |
| 21 |  BULKBulk | $307.66K | $10.40K | — | $26.55K |
| 22 |  Phoenix PerpsSolana | $287.19K | $282.43K | +1.7% | $9.92K |
| 23 |  dYdXdYdX | $279.83K | $273.09K | +2.5% | $7.06K |
| 24 |  TRUE DEXChain not listed | $251.78K | $438.23K | — | — |
| 25 |  Aark DigitalArbitrum | $249.11K | $186.49K | +33.6% | — |
“—” means the source has no value for that window, not zero. Fees per $1M OI divide 30-day fees by current open interest.
Common questions
Which perp DEX earns the most fees?
Hyperliquid, with $87.56M of user fees over the last 30 days according to DefiLlama (08 Oct 2026 · 12:17 UTC).
Are fees the same as revenue?
No. Fees are what traders pay. Revenue is the part the protocol keeps after paying liquidity providers, and token-holder revenue is a further subset where it exists.
Does a higher fee total mean the venue is more expensive?
Not necessarily. A larger venue earns more simply because more is traded. Compare each venue’s published fee schedule for the cost of your own trades.
More data reports
Open interest and fees: DefiLlama, captured 08 Oct 2026 · 12:17 UTC. 24h volume: CoinGecko derivatives exchange data (rolling 24 hours, converted from BTC), captured 08 Oct 2026 · 12:16 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 90 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 ↗
Market data, not investment advice. Venue links in the directory may be referral links; they never change rankings. Disclosure