Aster has emerged as the leader in the perpetual decentralized exchange (Perp DEX) market, recording a 24-hour trading volume of $41.78 billion as of October 6, 2025. The platform also reported $4.86 billion in open interest and generated $13.44 million in fees. Hyperliquid, while ranking third in trading volume at $9.02 billion, leads in open interest with $14.68 billion. Lighter holds the second position in trading volume with $10.13 billion and $2.08 billion in open interest, though fee data is unavailable. EdgeX, Apex, and Paradex complete the top five, with EdgeX reporting $4.58 billion in volume and $1.32 billion in open interest.