Perp DEXs Reach $1 Trillion in Monthly Trading Volume
In September 2025, the monthly trading volume on Perp DEXs hit a record-breaking $1.14 trillion. This milestone marks a meaningful leap in the crypto market, driven by the surge in perpetual trading.
Data from DeFi Llama shows a 50% increase from August’s $766 billion. Key players like Aster, Hyperliquid, and lighter contributed to this growth, each crossing $150 billion in trading volume.
aster leads with $493.61 billion, nearly half of September’s total. Hyperliquid follows with $280.7 billion, and lighter at $165 billion. In just a month, Aster surpassed Hyperliquid, thanks to support from former Binance CEO Changpeng Zhao.
Perp trading volume has skyrocketed from $131 billion in September 2024. This growth is due to advancements in DEX platforms,which now offer faster transactions and lower fees.
dexs are also using rewards like token incentives and “point-farming” to attract users. Centralized exchanges like OKX are integrating DEX features, offering zero trading fees during a beta test.
These developments have made derivatives trading more appealing,reducing previous barriers and boosting market activity.
