Checked out the current Perp platforms supporting on-chain US stocks and RWA. Besides Hyperliquid leading the pack, other key players include GRVT, Aster, Lighter, and edgeX. Current overall trading volume rankings (DefiLlama Perps leaderboard): Hyperliquid (including trade.xyz): firmly in first place with a clear lead. The second tier is highly competitive (data fluctuates daily): Right now, Aster, Lighter, and GRVT are pretty close in terms of volume. In the RWA/tokenized US stocks Perp niche, GRVT got an early start and has a decent number of on-chain US stocks (beyond the big seven, there are plenty of others too). It’s one of the most competitive platforms after Hyperliquid, often ranking among the top in overall standings. To sum up, Hyperliquid’s scale and liquidity advantage remain significant, while GRVT is a standout contender in the RWA Perp space. That said, rankings within the second tier (Aster, Lighter, GRVT, edgeX) shift noticeably every day, heavily influenced by market trends and platform activities.