{"slug":"perp-pe-ratio","title":"Perp DEX token P/E ratio 2026: Hyperliquid, GMX, dYdX, GNS live","subtitle":"FDV divided by annualized protocol revenue (30-day trailing average) for the major perp DEX tokens. Lower is cheaper relative to earnings. Updated hourly from DeFiLlama and CoinGecko.","category":"Trading","metric":"P/E ratio","unit":"x","status":"live","higherIsBetter":false,"filters":null,"value":3.28081,"leader":{"name":"GNS","slug":"gains","value":3.28081},"rankings":[{"name":"GNS","slug":"gains","ms":{"p50":3.28081,"p90":3.28081,"p99":3.28081,"mean":3.28081},"successRate":100,"sampleSize":3.28081},{"name":"GMX","slug":"gmx","ms":{"p50":9.66962,"p90":9.66962,"p99":9.66962,"mean":9.66962},"successRate":100,"sampleSize":9.66962},{"name":"DRIFT","slug":"drift","ms":{"p50":25.6067,"p90":25.6067,"p99":25.6067,"mean":25.6067},"successRate":100,"sampleSize":25.6067},{"name":"DYDX","slug":"dydx","ms":{"p50":28.9167,"p90":28.9167,"p99":28.9167,"mean":28.9167},"successRate":100,"sampleSize":28.9167},{"name":"HYPE","slug":"hyperliquid","ms":{"p50":139.749,"p90":139.749,"p99":139.749,"mean":139.749},"successRate":100,"sampleSize":139.749}],"sparkline":[3.3073,3.31347,3.31347,3.31347,3.30716,3.30716,3.30716,3.28304,3.28304,3.28304,3.27353,3.27353,3.27353,3.27654,3.27654,3.27654,3.28081,3.28081],"sampleSize":207.22283,"asOf":"2026-08-27T22:27:52.558Z","headline":"GNS posts the lowest p/e ratio at 3.28x (p50, 24h) on Perp DEX token P/E ratio 2026: Hyperliquid, GMX, dYdX, GNS live.","quote":"GNS posts the lowest p/e ratio at 3.28x (p50, 24h) on Perp DEX token P/E ratio 2026: Hyperliquid, GMX, dYdX, GNS live. Source: OpenChainBench (https://openchainbench.com/benchmarks/perp-pe-ratio).","cite":{"plain":"OpenChainBench. \"Perp DEX token P/E ratio 2026: Hyperliquid, GMX, dYdX, GNS live\". Retrieved 2026-08-27. https://openchainbench.com/benchmarks/perp-pe-ratio","bibtex":"@misc{ocb_perp_pe_ratio,\n  author = {OpenChainBench},\n  title  = {Perp DEX token P/E ratio 2026: Hyperliquid, GMX, dYdX, GNS live},\n  year   = {2026},\n  url    = {https://openchainbench.com/benchmarks/perp-pe-ratio},\n  note   = {Retrieved 2026-08-27}\n}","apa":"OpenChainBench. (2026). Perp DEX token P/E ratio 2026: Hyperliquid, GMX, dYdX, GNS live. Retrieved August 27, 2026, from https://openchainbench.com/benchmarks/perp-pe-ratio","ris":"TY  - GEN\r\nAU  - OpenChainBench\r\nTI  - Perp DEX token P/E ratio 2026: Hyperliquid, GMX, dYdX, GNS live\r\nPY  - 2026\r\nUR  - https://openchainbench.com/benchmarks/perp-pe-ratio\r\nY2  - 2026-08-27\r\nER  - \r\n"},"pageUrl":"https://openchainbench.com/benchmarks/perp-pe-ratio","ogImage":"https://openchainbench.com/api/og/perp-pe-ratio","source":"https://github.com/ChainBench/OpenChainBench/tree/main/harnesses/perp-token-metrics","methodology":["Revenue source: DeFiLlama dailyRevenue (protocol revenue accruing to treasury/holders, not total user fees).","30-day trailing average: last 30 data points from totalDataChart, filtered for non-zero values.","Annual revenue: 30d avg x 365.","FDV source: CoinGecko /coins/markets fully_diluted_valuation (falls back to market_cap if FDV null).","P/E = FDV / annual_revenue. Null if FDV or revenue unavailable.","Poll cadence: harness fetches DeFiLlama + CoinGecko every 60 minutes. Prometheus scrapes :2112/metrics every 60s."],"license":"CC-BY-4.0"}