Name: On-chain Perpetual DEX Trading Data
Creator: PerpScope
License: https://perpscope.com/terms

Question 1

What is a perpetual DEX (perp exchange)?

Accepted Answer

A perpetual DEX (decentralized perpetual exchange) is a platform for trading perpetual futures contracts without expiration dates. Unlike centralized exchanges like Binance or Bybit, perp DEXs let you maintain custody of your funds while trading with leverage up to 100x. Popular perpetual DEXs include Hyperliquid, Lighter, Paradex, and edgeX.

Question 2

Which perpetual DEX has the lowest trading fees?

Accepted Answer

Lighter offers true zero fees (0% maker and 0% taker) on its CLOB orderbook. Variational has no explicit fees but costs are embedded in the spread. Paradex and GRVT offer negative maker fees (rebates), meaning you get paid to place limit orders. Use our fee calculator to compare total costs for your trade size.

Question 3

What are the best perp DEX airdrops to farm in 2026?

Accepted Answer

The most promising perpetual DEX airdrops in 2026 are: Hyperliquid Season 2 ($HYPE - 38-42% of supply), Paradex ($DIME - ending Jan 2026), Variational ($VAR - 50% to community), edgeX ($MARU weekly + $EDGE coming), and GRVT (20% Genesis allocation). Check our airdrops page for farming guides.

Question 4

How do I start trading on a perpetual DEX?

Accepted Answer

1) Connect your wallet (MetaMask, Rabby, etc.) 2) Bridge funds to the DEX's chain (USDC is most common) 3) Deposit collateral 4) Select a trading pair and leverage 5) Place your order. Most perp DEXs require no KYC. Start with low leverage (2-5x) until you're comfortable with the platform.

Question 5

Are decentralized perpetual exchanges safe?

Accepted Answer

Perpetual DEXs are generally safer than CEXs because you maintain custody of your funds - no exchange hacks or freezes. However, smart contract risks exist. Trade on audited protocols with high volume. All perpetual DEXs on PerpScope have been vetted for security and process billions in daily volume.

Question 6

What is the difference between a perp DEX and Binance Futures?

Accepted Answer

Perp DEXs are decentralized - you keep control of your funds, no KYC required, and trades settle on-chain. Binance Futures is centralized - higher liquidity but requires KYC and you trust Binance with custody. Many traders use both: CEX for high-frequency trading, DEX for larger positions and airdrop farming.

#	Perp	LiquidityBased on 24h volume (50%) + open interest (50%) relative to top performer	Fee RatingBased on average maker/taker fees. Lower fees = higher rating	24h Volume	Open Interest	Fees (M/T)	Airdrop	More Info
1	HyperliquidOrderbook · Hyperliquid L1	Excellent(100)	Medium(74)	$7.49B	$9.02B	0.012% / 0.04%	Airdrop ActiveThis protocol has a confirmed or strongly rumored token incentive program currently running	Details
2	LighterOrderbook · zkLighter	Medium(47)	Lowest(100)	$5.81B	$1.50B	0% / 0%Zero trading fees	LITToken LIT has been distributed to eligible users	Details
3	AsterOrderbook · Multi-chain	Medium(53)	Medium(78)	$5.68B	$2.73B	0.005% / 0.04%	Airdrop ActiveThis protocol has a confirmed or strongly rumored token incentive program currently running	Details
4	edgeXOrderbook · EdgeX L2	Fair(34)	Medium(75)	$4.37B	$912M	0.012% / 0.038%	Airdrop ActiveThis protocol has a confirmed or strongly rumored token incentive program currently running	Details
5	VariationalRFQ · Arbitrum	Low(18)	Lowest(100)	$1.96B	$962M	SpreadNo fees - spread only:BTC: ~0.0019% ETH: ~0.0021% Others: ~%	Airdrop ActiveThis protocol has a confirmed or strongly rumored token incentive program currently running	Details
6	ParadexOrderbook · Starknet	Low(17)	Medium(88)	$1.80B	$836M	-0.005% / 0.03%	Airdrop ActiveThis protocol has a confirmed or strongly rumored token incentive program currently running	Details
7	ExtendedOrderbook · Starknet	Low(13)	Medium(88)	$1.75B	$249M	0% / 0.025%	Airdrop ActiveThis protocol has a confirmed or strongly rumored token incentive program currently running	Details
8	GRVTHybrid · GRVT Chain	Low(11)	Medium(83)	$1.53B	$95M	-0.01% / 0.045%	Airdrop ActiveThis protocol has a confirmed or strongly rumored token incentive program currently running	Details
9	PacificaOrderbook · Solana	Low(5)	Medium(73)	$590M	$280M	0.015% / 0.04%	Airdrop ActiveThis protocol has a confirmed or strongly rumored token incentive program currently running	Details
10	NadoOrderbook · Ink	Low(3)	Medium(78)	$320M	$145M	0.01% / 0.035%	Airdrop ActiveThis protocol has a confirmed or strongly rumored token incentive program currently running	Details
11	OstiumOracle · Arbitrum	Low(1)	High(35)	$95M	$38M	0.03% / 0.1%	Airdrop ActiveThis protocol has a confirmed or strongly rumored token incentive program currently running	Details
12	EtherealOrderbook · Ethena	Low(1)	Medium(85)	$80M	$45M	0% / 0.03%	Airdrop ActiveThis protocol has a confirmed or strongly rumored token incentive program currently running	Details

Hyperliquid

Lighter

Aster

edgeX

Variational

Paradex

Extended

GRVT

Pacifica

Nado

Ostium

Ethereal

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