Huo Xing Finance reports that, as of April 21, according to DefiLlama data, the overall trading volume of on-chain perpetual DEXs slightly declined. Hyperliquid’s trading volume dropped to $6 billion, but its open interest remains high, exceeding the combined open interest of all other platforms. TradeXYZ’s trading volume showed a slight rebound. The current ranking of major perpetual DEX trading volumes is as follows: Hyperliquid: 24-hour trading volume of approximately $6.07 billion, open interest of $7.31 billion; TradeXYZ: 24-hour trading volume of approximately $1.92 billion, open interest of $1.82 billion; Aster: 24-hour trading volume of approximately $1.95 billion, open interest of $1.97 billion; EdgeX: 24-hour trading volume of approximately $1.95 billion, open interest of $960 million; Lighter: 24-hour trading volume of approximately $1.53 billion, open interest of $720 million; Pacifica: 24-hour trading volume of approximately $485 million, open interest of $808.9 million.
Hyperliquid's Perp DEX volume drops to $60B, still holds the largest open interest
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As of April 21, 2026, Hyperliquid's 24-hour trading volume dropped to $60.7 billion, while its open interest remains the highest at $73.1 billion. Hyperliquid's open interest exceeds the combined total of all other platforms. TradeXYZ's trading volume has shown a modest recovery.
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