APEX vs DRV

Split decision: APEX leads on Perp DEX price to fees ratio 2026 (5.77x vs 18.6x); DRV leads on Perp DEX token P/E ratio 2026 (34.3x vs 37.2x).

Read methodology Last measured Tue, 15 Sep 2026 19:44:47 UTCWindow: rolling 24h2 shared benchmarks

APEX

ApeX is an orderbook perpetuals exchange (ApeX Omni, formerly ApeX Pro) with omnichain deposits and off-chain matching. APEX is the protocol token.

DRV

Derive (formerly Lyra) is an options and perpetuals exchange on its own OP Stack rollup with an off-chain orderbook and on-chain settlement. DRV is the protocol token.

Side by side measurements

Perp DEX token P/E ratio 2026: Hyperliquid, Lighter, GMX, dYdX, GNS live

Trading

APEX

Trails

37.2x

rank: #7
samples: 37provisional

DRV

Leads

34.3x

rank: #6
samples: 34provisional

P/E = fully diluted valuation (CoinGecko) divided by annualized protocol revenue (DeFiLlama dailyRevenue, 30-day trailing average x365). Protocol revenue = fees accruing to the treasury or token holders, not total user fees. Tokens without a CoinGecko listing show no P/E. FDV reflects total supply at current price, not circulating supply; tokens with large unvested allocations will show inflated FDV-based P/E. Updated hourly.

Perp DEX price to fees ratio 2026: Hyperliquid, Aster, Lighter, GMX, GNS live

Trading

Provider	P/F ratio	FDV / fees	P/S	Fees 30d	Revenue 30d	Float	Open interest	Fees / OI
APEX	5.77x	18.4x	11.4x	$472.1K	$236.1K	31.0%	$144.87M	0.040x
DRV	18.6x	27.7x	22.7x	$619.0K	$502.4K	66.6%	$56.09M	0.134x

P/F = circulating market cap (CoinGecko) / annualized fees (DeFiLlama dailyFees, trailing 30d x 365/30), on the DeFiLlama parent the token accrues from. Fees include the share paid to liquidity providers; P/S uses protocol revenue only. Low-float tokens show a much higher FDV/F than P/F. Pre-TGE venues are listed unranked with fees and OI, no ratio. A low multiple is not a recommendation.

Frequently asked questions

APEX vs DRV: which one is better?

APEX and DRV are compared on 2 shared OpenChainBench benchmarks. APEX leads on Perp DEX price to fees ratio 2026. DRV leads on Perp DEX token P/E ratio 2026. See the live table on this page for every metric.

Which is faster, APEX or DRV?

On the Perp DEX price to fees ratio 2026 benchmark, APEX leads at 5.77x versus DRV at 18.6x. Live measurement is updated continuously by the OpenChainBench harness.

Which is faster, APEX or DRV?

On the Perp DEX token P/E ratio 2026 benchmark, DRV leads at 34.3x (provisional) versus APEX at 37.2x (provisional). Live measurement is updated continuously by the OpenChainBench harness.

How is the APEX vs DRV comparison measured?

Every benchmark on this page uses the same open methodology, published at https://openchainbench.com/methodology. Data is CC-BY-4.0. Measurement harnesses are MIT-licensed.

How this pair was selected

Auto-generated pairs require: both providers in the same benchmark for seven consecutive days, at least 1000 samples per provider, observable third-party search demand, and a public /products/[slug] page on OCB. Editorially curated pairs (like this one) may publish early when search demand is high and data is accruing — panels with fewer than 100 samples are shown as provisional. The full pair ledger is versioned in the public repo.