Hyperliquid continues to dominate the perpetual decentralized exchange (Perp DEX) market with a 24-hour trading volume of approximately $1.294 billion, according to DefiLlama data as of February 5. Despite maintaining a significant lead over competitors, Hyperliquid's open interest has decreased to $5.71 billion. In comparison, Aster holds the second position with a 24-hour trading volume of $544 million and an open interest of $196 million. Other notable platforms include EdgeX with a trading volume of $522 million and open interest of $83.5 million, and Lighter with a trading volume of $4.03 billion and open interest of $1.04 billion. Grvt and Pacifica also reported significant trading volumes of $2.2 billion and $104 million, respectively, with corresponding open interests of $437 million and $57.4 million.