Record Perp DEX Trading Volume Reaches $67B Amid Competitive Growth

On September 24, the decentralized exchange (DEX) market for perpetual futures hit a groundbreaking milestone. perpetual DEX trading volume increased to an all-time high of over $67 billion, continuing to record high volumes the previous day.

At the head of this wave were sites like Aster , Lighter and Hyperliquid, reaching the point of over $10 billion of daily trading. This boom underlines the increased role of perpetual DEXs in the crypto environment.

Perp DEX Trading Volume Hits Record High, Surpassing $67 Billion

As of recent data , perpetual DEXs have become an increasingly popular space for cryptocurrency traders. These exchanges allow users to trade perpetual futures, which offer speculation on the price movements of crypto assets without expiry dates.

These platforms have become the new epicentre of the crypto sector, attracting massive attention with their offering of leverage as high as 1,000x. The market's growth has been exceptional, with some exchanges seeing a 7-day average increase of over 80%.

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This surge in volume has led some to speculate that wash trading could be driving part of this growth. Despite this, the sector's continued momentum reflects the maturing infrastructure of these exchanges.

The astonishing growth in the volume of the Perp DEX trading is attributable to several major factors. To start with, the infrastructure underpinning these platforms has grown to a considerable level. They are also enjoying easier faster trading execution and interfaces that are analogous to centralized exchanges like Binance.

As these advancements take place, the decentralized platforms will begin to be much competitive to their centralized counterparts and offer a more smooth experience to traders.

Additionally, perpetual DEXs have established novel tokenomics, which stimulate additional trading. Airdrops tend to give traders native tokens as an incentive to use the platforms.

Such airdrops have also become an important instrument of marketing to numerous exchanges, since they assist to keep as well as lure new traders. Moreover, the purchase back mechanisms practised by most sites contribute to the rise of their native currencies. This combination of smoother user experience and enticing rewards programs has fueled rapid growth within the space.

Driving Forces Behind the Surge in Perp DEX Trading Volume

Despite the increased infrastructure and the good incentives contributing significantly, the other force that has contributed to the rise of Perp DEXs is the highly competitive environment in the market. In 2025, hyperliquid has topped the industry, but this is not the only one.

A more recent platform known as Aster has attracted a lot of attention. Aster has established a significant market presence and a robust and competitive product that is being attractive to more traders.

Perp DEX space is growing fast, as evidenced by the ever-increasing volume in numerous exchanges. Trading platforms such as edgeX, Paradex and Metis have all reported significant volume growth within 7 days, indicating that the perpetual trading market remains in its infancy.

This industry has seen market expansion at a faster rate than the crypto market , and Perp DEXs have become the core of the current crypto boom.