Top 10 perp DEX with the strongest open interest growth in 30 days

Open interest continues to be one of the clearest indicators reflecting traders’ participation and confidence in derivatives trading platforms. When open contracts increase, it indicates that more capital is being deployed into trading positions.

Over the past 30 days, perp DEX platforms have recorded a total increase of over $1.5 billion in open contracts. Below is the ranking of platforms with the strongest growth:

• Hyperliquid: +$1.01 billion (+21%)
• tradeXYZ: +$295 million (+56%)
• Derive: +$272 million (+60%)
• Variational: +$151 million (+26%)
• Aster: +$107 million (+6%)
• edgeX: +$106 million (+11%)
• Grvt: +$97.2 million (+24%)
• Extended: +$34.7 million (+13%)
• Dreamcash: +$34.1 million (+130%)
• dYdX: +$32.4 million (+51%)

Hyperliquid continues to hold the absolute leading position in open contracts within the perp DEX sector, recording an increase of over $1 billion — more than three times higher than the runner-up.

In terms of percentage growth, Dreamcash stands out with a 130% increase in just 30 days. Following are Derive (+60%), tradeXYZ (+56%), and dYdX (+51%).

The fact that many mid-tier perp DEXs are experiencing faster percentage growth in open contracts than Hyperliquid indicates that the perp DEX market remains highly competitive. This suggests that the race for market share in decentralized derivatives trading is heating up as we approach Q2.