Perpetual decentralized exchanges (perp DEX) recorded $1.13 trillion in onchain derivatives volume in November, marking a 5.83% decrease from October's $1.2 trillion but a significant 71.7% increase from September. Leading the activity were platforms Hyperliquid, Aster, and Lighter, which together accounted for 69.2% of the total volume. Other notable contributors included Vertex Edge, Synthetix, and ApeX. The rise in perp DEX usage is driven by their onchain transparency, self-custody, and permissionless access, attracting users from centralized exchanges.