Most tradable markets on a perp DEX, live count per venue
TradingedgeX
Leads156
- p99
- 156
- rank
- #8
- samples
- 2,880
Nado
Trails72
- p99
- 72
- rank
- #16
- samples
- 2,880
Active markets
edgeXn/aNadon/a
edgeX vs Nado
Split decision: edgeX leads on Most tradable markets on a perp DEX, live count per venue (156 vs 72); Nado leads on Perp DEX volume to open interest (4.51x vs 4.95x). Data as of 2026-10-31 UTC.
edgeX
StarkEx-settled perp DEX with low taker fees and a documented public REST API.
Nado
Nado is an orderbook perpetuals DEX on Ink, the Kraken-backed L2, with a central limit orderbook and cross-margin. No token has launched yet.
Side by side measurements
Perp DEX price to fees: what the market pays per dollar of trading fees
Trading| Provider | Fees 30d | Revenue 30d | Open interest | Fees / OI |
|---|---|---|---|---|
| edgeX | $2.25M | $1.62M | $128.46M | 0.213x |
| Nado | $1.81M | $862.6K | $40.08M | 0.550x |
View
edgeXn/aNadon/a
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.
Perp DEX volume to open interest: 24h turnover per dollar of OI, live
TradingedgeX
Trails4.95x
- p99
- 5.40x
- rank
- #15
- samples
- 2,880
Nado
Leads4.51x
- p99
- 7.20x
- rank
- #13
- samples
- 2,880
Volume / OI (24h)
edgeXn/aNadon/a
The ratio is a screen, not a verdict. Both terms are the venue's own figures (24h volume and open interest as each API reports them, in USD), so a venue that counts both legs of a fill moves its ratio without changing anything real. A very low ratio (Ostium, 0.2x) means positions held for days on thin daily volume; a very high one (Kalshi, above 40x) means a day of trading dwarfs what stays open. The bands in the methodology say what each range usually means.
Frequently asked questions
edgeX vs Nado: which one is better?
edgeX and Nado are compared on 3 shared OpenChainBench benchmarks. edgeX leads on Most tradable markets on a perp DEX, live count per venue. Nado leads on Perp DEX volume to open interest. See the live table on this page for every metric.
Which has the higher active markets, edgeX or Nado?
On the Most tradable markets on a perp DEX, live count per venue benchmark, edgeX leads at 156 versus Nado at 72. Live measurement is updated continuously by the OpenChainBench harness.
Which has the lower volume / oi (24h), edgeX or Nado?
On the Perp DEX volume to open interest benchmark, Nado leads at 4.51x versus edgeX at 4.95x. Live measurement is updated continuously by the OpenChainBench harness.
How is the edgeX vs Nado 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.