Perpetual Contract DEX Weekend Trading Data: Hyperliquid Leads, Multi-Chain Platform Trading Hotness Diverges

DAOplomacy · 2026-01-19T10:56:12+00:00

Data from January 19th shows that the overall trading volume of perpetual DEXs over the weekend has weakened. Hyperliquid remains the leader with a 24-hour trading volume of $2.79 billion. Lighter and EdgeX follow closely behind, with trading volumes of $2.26 billion and $2.15 billion respectively. Mid-tier platforms Aster demonstrate user holding willingness, while Variational and Paradex appear slightly weak. The overall market remains stable.

DAOplomacy

2026-01-19 10:56:12

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【Blockchain Rhythm】On January 19, based on the latest data from perpetual DEXs across multiple chains, derivative trading volume over the weekend shows an overall weakening trend. However, the competitive landscape among leading platforms remains clear—

Hyperliquid continues to lead, with a trading volume of $2.79 billion in the past 24 hours, completely outpacing other competitors. The platform’s TVL has accumulated to $4.59 billion, and open interest contracts are as high as $9.63 billion, demonstrating strong market appeal.

Lighter follows closely, with a 24-hour trading volume of $2.26 billion. Although still behind the top spot, with a TVL of $1.08 billion and open interest of $1.32 billion, it maintains a solid second-tier position. EdgeX performs similarly, with a trading volume of $2.15 billion, but its TVL and contract size are relatively smaller.

Mid-tier platforms show clear differentiation. Aster’s open interest reaches $2.73 billion, contrasting interestingly with its $1.74 billion trading volume, indicating strong user holding willingness. Platforms like Variational and Paradex remain active, but their trading volumes are gradually decreasing, with Variational at $1.6 billion and Paradex at $1.59 billion.

Packica, as a relatively new player, has a 24-hour trading volume of $966 million. Although smaller in scale, the ratio between TVL and contract size is noteworthy. Overall, the open interest contracts across platforms fluctuate little, and the market remains relatively stable.

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