Hyperliquid recorded $200 billion in October perpetuals volume, accounting for nearly 35% of total on-chain perps trading. Variational ranked second with $69.5 billion, followed by Lighter at $45 billion, Aster at $41.8 billion and EVEDEX at $23 billion.
Why it matters
Hyperliquid’s volume lead highlights its scale in decentralized perpetuals trading. Its October total was nearly three times Variational’s, the second-ranked venue.
Market impact
The figures put Hyperliquid at the front of a competitive on-chain perps market. The rankings provide a snapshot of trading activity across the five leading venues in October.
Source: [source](https://webappcsdfedsssd.controller.bot/media/files/8336652911/AgACAgIAAxkBAAJYvmriGANkQLbhUzV2kq_4CfYl6EKsAAJiHWsbGikQS9Ov6w82IpTcAQADAgADeQADPQQ?sig=IQTho_rlH0w9ngC9Pz_NqBNaxxfUImeyqMoroM9rXa8)
Frequently asked questions
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How much perpetuals volume did Hyperliquid record in October?
Hyperliquid recorded $200 billion in October perpetuals volume, nearly 35% of total on-chain perps trading.
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Which venue ranked second behind Hyperliquid?
Variational ranked second with $69.5 billion in October volume.
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How did Hyperliquid’s volume compare with Variational’s?
Hyperliquid’s $200 billion was nearly three times Variational’s $69.5 billion.
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Where did Lighter, Aster and EVEDEX rank by October volume?
Lighter recorded $45 billion, Aster $41.8 billion and EVEDEX $23 billion, placing them third, fourth and fifth, respectively.
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What share of on-chain perps volume did Hyperliquid account for?
Hyperliquid accounted for nearly 35% of total on-chain perpetuals trading volume in October.
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