Perp DEXs
without a token.
40 perpetual DEXs with no verified tradable token, ranked by open interest, plus 2 with an announced token that is not trading. Updated daily.
By PerpsAtlas Research · Data as of . The text below is calculated from the same capture as the directory and changes when the data does.
- Without a token40
- Their open interest$1.26B
- Share of tracked OI8.8%
- Announced, not trading2
What the data shows
Of the 91 perp DEXs in our directory, 27 have their own tradable token, 5 are covered by a parent project’s or chain’s token, 2 have announced a token that is not trading yet (Variational and Reya), and the rest have no token we could verify.
The 40 venues without a verified token that report open interest held $1.26B on 08 Oct 2026 · 12:17 UTC, 8.8% of tracked perp DEX open interest. The largest are Antarctic, QFEX and Extended. 7 of them currently read as Growing on our rule-based screen (QFEX, Arcus, Primit, RISEx, TxFlow and others).
No token today does not mean an airdrop or a token is coming. Some venues have said nothing about a token, and points programs can end without one. We list only what we can verify and do not estimate airdrop value.
Scam tokens often copy the names of popular venues that have no token yet. Check the venue’s official website and announcement channels before buying anything that uses its name.
Perp DEXs with no verified token
| # | Venue | Open interest | Fees 30d | OI 30d | Trend |
|---|---|---|---|---|---|
| 1 | AntarcticChain not listed | $352.16M | $2.69M | — | Not enough data |
| 2 |  QFEXChain not listed | $140.23M | — | +38.9% | Growing |
| 3 |  ExtendedEthereum, Starknet | $96.78M | $1.55M | +5.7% | Stable |
| 4 |  VestChain not listed | $93.95M | $33.36K | +9.4% | Stable |
| 5 |  Polymarket PerpsChain not listed | $92.37M | — | — | Not enough data |
| 6 |  ArcusRobinhood Chain | $74.30M | $1.08M | +122.9% | Growing |
| 7 |  PacificaChain not listed | $64.78M | $3.70M | +21.1% | Stable |
| 8 |  PrimitAvalanche | $63.48M | $330.11K | — | Growing |
| 9 |  NadoInk | $41.87M | $1.67M | +12.1% | Stable |
| 10 |  RISExRISE | $39.11M | — | +27.0% | Growing |
| 11 |  PopDEXMorph_tachyon | $39.09M | $103.73K | — | Not enough data |
| 12 |  Phoenix PerpsSolana | $28.94M | $287.19K | +18.8% | Stable |
| 13 |  TxFlowTxFlow | $27.89M | $870.22K | +82.5% | Growing |
| 14 | StandXStandX | $20.75M | — | -26.0% | Declining |
| 15 |  BullbitChain not listed | $20.66M | $15.28K | — | Not enough data |
| 16 |  AstrosChain not listed | $13.36M | $50.22K | +11.4% | Stable |
| 17 |  BULKBulk | $11.59M | $307.66K | — | Not enough data |
| 18 |  OstiumArbitrum | $8.85M | $103.13K | -58.5% | Declining |
| 19 |  Gate Perp DEXGateLayer | $8.52M | — | +11.8% | Stable |
| 20 |  SunXChain not listed | $5.66M | — | -21.6% | Stable |
| 21 |  DecibelAptos | $3.58M | $599.80K | -5.4% | Growing |
| 22 |  MeridianRobinhood Chain | $2.73M | $1.08K | — | Not enough data |
| 23 |  CarbonBase | $2.49M | $1.55K | +30.6% | Not enough data |
| 24 |  BulletBullet, Solana | $2.26M | — | -7.3% | Not enough data |
| 25 |  PerplMonad | $1.62M | $185.88K | -51.4% | Declining |
| 26 |  HibachiHibachi | $1.35M | — | -21.7% | Not enough data |
| 27 |  Strike FinanceCardano | $1.14M | $76.44K | +16.2% | Not enough data |
| 28 |  Aftermath PerpsSui | $934.36K | — | — | Not enough data |
| 29 |  GUMJupnet | $901.35K | — | +210.8% | Not enough data |
| 30 |  Katana PerpsKatana | $775.96K | $148.53K | -23.4% | Stable |
| 31 |  DipCoinSui | $617.75K | $22.42K | +23.5% | Not enough data |
| 32 |  VelocitySolana | $129.49K | — | — | Not enough data |
| 33 |  HertzFlowBSC | $117.85K | $37.50K | — | Not enough data |
| 34 |  MoonlanderCronos, Cronos zkEVM | $82.72K | $22.55K | +26.6% | Not enough data |
| 35 |  LeverUpMonad | $72.92K | $43.38K | +68.5% | Not enough data |
| 36 |  Sudo Finance (ZO Perps)Sui | $66.76K | $188.06K | — | Growing |
| 37 |  NeonyNeony | $62.69K | — | 0.0% | Not enough data |
| 38 |  HotstuffHotstuff | $45.12K | — | -71.3% | Not enough data |
| 39 |  Drake ExchangeMonad | $12.42K | $43.52K | +97.7% | Not enough data |
| 40 |  Challenge4TradingArbitrum | $10.00 | $4.44 | -68.6% | Not enough data |
Token announced, not trading yet
- Variational: VAR announced, not trading according to the sources we track · open interest $1.11B
- Reya: REYA announced, not trading according to the sources we track
Common questions
Which perp DEXs do not have a token yet?
By open interest the largest are Antarctic, QFEX, Extended, Vest and Polymarket Perps. The full list of 40 venues is in the table above (08 Oct 2026 · 12:17 UTC).
Will these perp DEXs do an airdrop?
We do not know, and neither does this data. A missing token is not a promise of an airdrop; only an official announcement from the venue is.
How do you check whether a venue has a token?
We match each venue to a CoinGecko listing and to the venue’s own documentation. A token of a parent company or the underlying chain is marked separately because it does not necessarily share in the exchange’s revenue.
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