Perp DEX volume share, live 24h notional ranked
TradingNado
Leads$157.19M
- p99
- $332.13M
- rank
- #14
- samples
- 2,880
Paradex
Trails$13.96M
- p99
- $16.98M
- rank
- #22
- samples
- 2,880
24h perp volume
Nadon/aParadexn/a
Nado vs Paradex
Nado leads on 2 of 3 shared benchmarks, Paradex on 1. Nado wins on Perp DEX volume share, live 24h notional ranked ($157.19M vs $13.96M), Most tradable markets on a perp DEX, live count per venue (75 vs 64). Paradex wins on Perp DEX volume to open interest (0.694x vs 1.690x). Data as of 2026-10-06 UTC.
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.
Paradex
Paradex is a perps-focused L2 exchange built on Starknet tech, with USD-settled perpetuals and funding accrued continuously over an 8 hour period.
Side by side measurements
Most tradable markets on a perp DEX, live count per venue
TradingNado
Leads75
- p99
- 75
- rank
- #15
- samples
- 2,880
Paradex
Trails64
- p99
- 65
- rank
- #18
- samples
- 2,880
Active markets
Nadon/aParadexn/a
Perp DEX price to fees: what the market pays per dollar of trading fees
Trading| Provider | Fees 30d | Open interest | Fees / OI |
|---|---|---|---|
| Nado | $1.64M | $46.96M | 0.425x |
| Paradex | $48.9K | $9.94M | 0.060x |
View
Nadon/aParadexn/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
TradingNado
Trails1.690x
- p99
- 3.57x
- rank
- #13
- samples
- 2,880
Paradex
Leads0.694x
- p99
- 0.844x
- rank
- #6
- samples
- 2,880
Volume / OI (24h)
Nadon/aParadexn/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
Nado vs Paradex: which one is better?
Nado and Paradex are compared on 4 shared OpenChainBench benchmarks. Nado leads on Perp DEX volume share, live 24h notional ranked. Paradex leads on Perp DEX volume to open interest. See the live table on this page for every metric.
Which has the higher 24h perp volume, Nado or Paradex?
On the Perp DEX volume share, live 24h notional ranked benchmark, Nado leads at $157.19M versus Paradex at $13.96M. Live measurement is updated continuously by the OpenChainBench harness.
Which has the lower volume / oi (24h), Nado or Paradex?
On the Perp DEX volume to open interest benchmark, Paradex leads at 0.694x versus Nado at 1.690x. Live measurement is updated continuously by the OpenChainBench harness.
How is the Nado vs Paradex 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.