$629.8B in monthly perp DEX volume. But can you exit your position at a reasonable price? That’s the question worth asking before choosing a venue. High volume doesn’t guarantee deep liquidity on your pair. Open interest measures outstanding positions, not the orders available to absorb your exit. Before trading, check ➥ Spread and depth on your pair ➥ Slippage at your order size ➥ Funding over your holding period ➥ Liquidation and ADL rules My take: perp DEXs can earn more trust by making execution costs easier to see before users sign. The sector has plenty of activity. For traders, the useful metric is what entering and exiting actually costs.