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 | $62.29M | $684.71M | 28.4× | +27 | analysis → |
| 2 |  GMX · GMX perp DEX · Arbitrum | $5.08M | $19.08M | 5× | — | analysis → |
| 3 |  Lighter · LIT perp DEX · zk | $4.97M | $62.47M | 12.1× | — | analysis → |
| 4 |  edgeX · EDGE perp DEX · StarkEx | $1.65M | $163.06M | 0.7× | — | in the terminal → |
| 5 |  Jupiter Perps · JUP perp DEX · Solana | $1.58M | $35.50M | 26.3× | — | analysis → |
| 6 |  Gains Network · GNS perp DEX · multi-chain | $276.67K | $5.73M | 1.7× | — | in the terminal → |
| 7 |  dYdX · DYDX perp DEX · app-chain | $242.20K | $4.49M | 20.7× | — | analysis → |
| 8 |  ApeX · APEX perp DEX · omni | $141.68K | $7.31M | 4.8× | — | analysis → |
| 9 |  Drift · DRIFT perp DEX · Solana | — | $5.52M | 1.9× | — | 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 →