Perp DEX Market Overview
Perp DEX sector growth
Perpetual futures have become the dominant instrument in crypto derivatives markets, with the decentralized venues offering them becoming the fastest-growing sector in Web3.
Figure 1: Perp DEX share of total crypto perpetuals volume (Perp DEX vs. CEX), March 2024 – March 2026. Source: The Block, Defillama
Total perp DEX volume has expanded from under 2% of total crypto perpetuals volume in early 2023 to over 10% in 2026, a shift that reflects both increased retail participation and growing institutional recognition of onchain derivatives as a viable alternative to centralized venues.
