Mainstream Perp DEX Overview: Hyperliquid Trading Volume Slightly Declines, Funding Rates Still Dominant

By: theblockbeats.news|2026/01/28 19:01:59
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BlockBeats News, January 28th, according to DefiLlama data, most platforms saw an increase in trading volume in the past 24 hours, but Hyperliquid's volume bucked the trend and experienced a decrease, currently standing at around $6.52 billion. Its open interest slightly rebounded to $8.49 billion despite the contraction in trading volume, possibly due to funds already being deployed for opening positions, leading to a cooling off in short-term trading. Meanwhile, Lighter is in second place with a trading volume of around $3.91 billion. The current status of some major Perp DEX trading volumes is as follows:

Hyperliquid has a 24-hour trading volume of around $6.52 billion, a TVL of around $4.57 billion, and an open interest of around $8.49 billion;

Lighter has a 24-hour trading volume of around $3.91 billion, a TVL of around $1.01 billion, and an open interest of around $1.27 billion;

EdgeX has a 24-hour trading volume of around $3.27 billion, a TVL of around $234 million, and an open interest of around $1.05 billion;

Aster has a 24-hour trading volume of around $2.53 billion, a TVL of around $1.23 billion, and an open interest of around $2.58 billion;

Grvt has a 24-hour trading volume of around $2.15 billion, a TVL of around $94.6 million, and an open interest of around $518 million;

Paradex has a 24-hour trading volume of around $1.97 billion, a TVL of around $222 million, and an open interest of around $773 million;

Pacifica has a 24-hour trading volume of around $824 million, a TVL of around $42.9 million, and an open interest of around $83.8 million.

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