Decentralized Exchanges
On-chain perpetuals exchanges — the sector where fees are auditable on the blockchain. Revenue = fees kept by the protocol.
9 tokens · ranked by revenue 30d · public data up to 24h delayed — live in the VIP terminal
| # | Token | Revenue 30d | Annualized | P/F | FM Score | |
|---|---|---|---|---|---|---|
| 1 |  Hyperliquid · HYPE on-chain order book · own L1 | $36.97M | $779.20M | 15.6× | -14 | analysis → |
| 2 |  edgeX · EDGE perp DEX · StarkEx | $2.61M | $235.40M | 0.6× | — | in the terminal → |
| 3 |  Lighter · LIT perp DEX · zk | $2.13M | $55.19M | 9.9× | — | in the terminal → |
| 4 |  Jupiter Perps · JUP perp DEX · Solana | $1.37M | $64.95M | 9.8× | — | analysis → |
| 5 |  GMX · GMX perp DEX · Arbitrum | $629.51K | $13.09M | 4.9× | — | analysis → |
| 6 |  Gains Network · GNS perp DEX · multi-chain | $330.16K | $6.87M | 1.7× | — | in the terminal → |
| 7 |  ApeX · APEX perp DEX · omni | $286.13K | $9.52M | 3.4× | — | in the terminal → |
| 8 |  dYdX · DYDX perp DEX · app-chain | $273.12K | $8.33M | 11.1× | — | analysis → |
| 9 |  Drift · DRIFT perp DEX · Solana | $0 | $13.08M | — | — | in the terminal → |
Compare live, with the FM on-chain score
In the VIP terminal these numbers update live — with a proprietary score per asset, whale positioning, funding, liquidations and the on-chain feed in real time.
Open the terminal →