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 | $59.83M | $704.59M | 25.1× | +7 | analysis → |
| 2 |  Lighter · LIT perp DEX · zk | $4.14M | $59.97M | 17.6× | +35 | analysis → |
| 3 |  edgeX · EDGE perp DEX · StarkEx | $3.49M | $216.08M | 1× | — | in the terminal → |
| 4 |  Jupiter Perps · JUP perp DEX · Solana | $2.47M | $50.48M | 15.9× | — | analysis → |
| 5 |  GMX · GMX perp DEX · Arbitrum | $727.56K | $10.93M | 7.5× | — | analysis → |
| 6 |  Gains Network · GNS perp DEX · multi-chain | $413.17K | $6.12M | 1.7× | — | in the terminal → |
| 7 |  dYdX · DYDX perp DEX · app-chain | $287.16K | $6.36M | 15.1× | — | analysis → |
| 8 |  ApeX · APEX perp DEX · omni | $232.96K | $9.81M | 3.7× | — | analysis → |
| 9 |  Drift · DRIFT perp DEX · Solana | $0 | $10.05M | 0.8× | — | 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 →