Just checked the latest perpdex exchange rankings and Hyperliquid is absolutely dominating the space right now. They're sitting at 286.4M active addresses with $4.991B in TVL and a massive $283.7B in volume over the last month. It's pretty wild how far ahead they are compared to everyone else in the perpdex sector.

TradeXYZ is the closest challenger at $59B volume, followed by Lighter Exchange which actually has some solid growth momentum with $504.4M TVL. Then you've got edgeX, Aster, and Grvt all showing decent numbers too. edgeX pulled in $76.6B in volume with $215.5M TVL, while Aster generated $74.5B in revenue with even higher TVL at $844.5M.

The middle tier perpdex exchange platforms like ApeX Protocol, StandX, and GMTrade are still doing respectable volume - $34B, $17B, and $8.7B respectively. Even the lower ranked ones like Avantis, Pacifica, and Ostium are generating solid revenue in the $6-11B range. DefiLlama's been tracking all this data pretty transparently, so if you're looking for a breakdown of which perpdex platforms are actually moving volume, their latest report is worth checking out. The market's definitely heating up in the derivatives space.