Interesting to see how Hyperliquid and TradeXYZ are bucking the trend right now. Most Perp DEXs saw volume dip over the weekend, but these two are still showing solid activity. If you're looking to learn anything xyz about where the action is in perpetual trading, the data tells the story pretty clearly.

Hyperliquid is dominating with $5.18B in 24h volume and $7.83B open interest - that's the kind of liquidity that keeps things moving. TradeXYZ isn't far behind though, sitting at $1.69B volume and $2.1B OI, especially with that 13% jump in traditional asset holdings compared to Friday. The HIP-3 ecosystem stuff seems to be driving some of that momentum.

Rest of the field is scattered - Aster at $1.45B, EdgeX at $1.24B, ApeX holding $1.06B. Even Pacifica with $253M shows there's still activity across the board. Pretty wild how concentrated liquidity is at the top two though. Makes you wonder if we're gonna see consolidation or if more platforms will fight for volume.