On-chain perpetual DEXs now account for 12.33% of global perpetual trading volume, a significant increase from just 0.11% in January 2023, according to Castle Labs data through September 2026. Total open interest across perp DEXs reached approximately $14.64 billion as of September 24, with Hyperliquid commanding 56.8% of the market at $8.32 billion, followed by Aster at 9.7% and Variational at 6.2%.
On-chain RWA perpetuals covering stocks, commodities, and Pre-IPO assets are also expanding rapidly. Monthly trading volume for these instruments peaked at roughly $147.5 billion in July 2026, representing 19.6% of total on-chain perpetual volume for that month.
On-Chain Perpetual DEX Market Share Surges to 12.33% as Hyperliquid Dominates Open Interest
Aviso legal: El contenido de Phemex News es únicamente informativo.No garantizamos la calidad, precisión ni integridad de la información procedente de artículos de terceros.El contenido de esta página no constituye asesoramiento financiero ni de inversión.Le recomendamos encarecidamente que realice su propia investigación y consulte con un asesor financiero cualificado antes de tomar cualquier decisión de inversión.