Paradex

A derivatives venue offering perpetuals and options. Options volume is excluded from the perpetuals ranking.

Visit official website ↗

Direct link. No affiliate code is currently attached.

Snapshot checked 2026-09-22 · Source: DefiLlama ↗ · combined protocol profile

Volume · 24h$23.88M

Volume · 7d$122.78M

Volume · 30d$330.30M

Open interest$11.40M

TVL$22.93M

Fees · 30d$36.50K

Revenue · 30d—

Holders revenue · 30d$9.69K

Token price$0.0550

Market cap$36.51M

FDV$54.62M

FAIR VALUE

Valuation under review

Verified inputs for value capture, token supply and future unlocks are incomplete. A numerical range is not published yet.

How valuation works →

WEEKLY CHANGES

Baseline snapshot

Timestamped TVL history is available below. The weekly page compares compatible observations; volume-rank changes are not yet calculated.

View the research log →

AUTOMATED OBSERVATION / SEPARATE SCOPE

TVL · $22.94M

Fresh · Observed 2026-09-22T07:30:59Z

2026-06-25 → 2026-09-22 · Range $17.00M–$24.78M · Chart scale starts at the series minimum, not zero.

DefiLlama top-level protocol TVL; component methodology not supplied · Source ↗. This series may differ from combined-profile baseline TVL above.

RESEARCH DESK · 2026-09-22

What matters here

Separate gross trading fees from DIME buybacks and the discretionary spending retained for growth.

Team

Paradex describes incubation by Paradigm, the institutional trading network. This should not be confused with the venture firm of the same name.

Primary source ↗

Investors

The token distribution includes shareholder allocations. A separately verified investor roster is not published here.

Primary source ↗

Unlocks

The May 2025 update describes gradual shareholder vesting and 80% of contributor allocation as performance-based. Do not represent performance triggers as certain calendar unlocks.

Primary source ↗

Buyback

DIME documentation permits net fees to fund buybacks and/or growth. This is not an unconditional promise to distribute all fees to holders.

Primary source ↗

Utility

The documentation lists fee-payment discounts and staking-linked discounts. Future DimeVM use should be distinguished from current trading benefits.

Primary source ↗

Listings

A current external spot-venue check is outstanding. Use only verified official product links.

Not verified in this edition

What to compare next

Compare volume quality, fee economics, dilution and actual value reaching token holders. Affiliate payouts never affect rankings.

Compare all protocols →