Perpetual decentralized exchange (DEX) volume surged by 346% in 2025, reaching a total of $92.9 trillion in perpetual trading, as traders increasingly shifted their focus from spot markets to derivatives. This dramatic increase reflects the growing preference for perpetual contracts, which provide leveraged exposure without expiration. Furthermore, the rise in perpetual DEX volumes highlights a broader trend of decentralized perpetuals outpacing their centralized counterparts in both innovation and user engagement, pointing to an evolving landscape in derivatives trading.
Perp DEX volume surges 346% in 2025 as trading reaches $92.9T
