Perp DEX volume share, live 24h notional ranked
TradingGains
Trails$26.56M
- p99
- $28.59M
- rank
- #20
- samples
- 2,880
Nado
Leads$367.25M
- p99
- $615.12M
- rank
- #12
- samples
- 2,880
24h perp volume
Gainsn/aNadon/a
Gains vs Nado
Gains leads on 1 of 3 shared benchmarks, Nado on 2. Gains wins on Most tradable markets on a perp DEX, live count per venue (178 vs 72). Nado wins on Perp DEX volume share, live 24h notional ranked ($367.25M vs $26.56M), Perp DEX volume to open interest (4.58x vs 16.5x). Data as of 2026-10-30 UTC.
Gains
Perp DEX on Polygon, Arbitrum, Base and Solana. Pool-based execution against the gToken vaults, oracle-priced trades with synthetic leverage.
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
Most tradable markets on a perp DEX, live count per venue
TradingGains
Leads178
- p99
- 178
- rank
- #7
- samples
- 2,880
Nado
Trails72
- p99
- 72
- rank
- #16
- samples
- 2,880
Active markets
Gainsn/aNadon/a
Perp DEX price to fees: what the market pays per dollar of trading fees
Trading| Provider | Fees 30d | Revenue 30d | Open interest | Fees / OI |
|---|---|---|---|---|
| Gains | $241.2K | $175.1K | $1.46M | 2.01x |
| Nado | $1.81M | $862.6K | $40.08M | 0.550x |
View
Gainsn/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
TradingGains
Trails16.5x
- p99
- 17.8x
- rank
- #20
- samples
- 2,880
Nado
Leads4.58x
- p99
- 7.67x
- rank
- #13
- samples
- 2,880
Volume / OI (24h)
Gainsn/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
Gains vs Nado: which one is better?
Gains and Nado are compared on 4 shared OpenChainBench benchmarks. Gains leads on Most tradable markets on a perp DEX, live count per venue. Nado leads on Perp DEX volume share, live 24h notional ranked. See the live table on this page for every metric.
Which has the higher active markets, Gains or Nado?
On the Most tradable markets on a perp DEX, live count per venue benchmark, Gains leads at 178 versus Nado at 72. Live measurement is updated continuously by the OpenChainBench harness.
Which has the higher 24h perp volume, Gains or Nado?
On the Perp DEX volume share, live 24h notional ranked benchmark, Nado leads at $367.25M versus Gains at $26.56M. Live measurement is updated continuously by the OpenChainBench harness.
How is the Gains 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.
Related comparisons
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.