Perp DEX volume share, live 24h notional ranked
TradingOndo Perps
Trails$185.90M
- p99
- $346.48M
- rank
- #9
- samples
- 2,880
trade.xyz
Leads$1.81B
- p99
- $4.21B
- rank
- #2
- samples
- 2,880
24h perp volume
Ondo Perpsn/atrade.xyzn/a
Ondo Perps vs trade.xyz
trade.xyz leads on all 4 live benchmarks. trade.xyz wins on Perp DEX volume share, live 24h notional ranked ($1.81B vs $185.90M), Most tradable markets on a perp DEX, live count per venue (120 vs 77), Perp DEX asset breadth (120 vs 64), Perp DEX volume to open interest (0.424x vs 2.38x). Data as of 2026-11-08 UTC.
Ondo Perps
Ondo Perps is Ondo Finance's perpetuals exchange (live since June 2026): an off-chain matching engine running in Intel SGX enclaves with on-chain custody on Ethereum and Arbitrum, USDC and Ondo tokenized stocks as collateral, and 60+ markets across US equities, ETFs, commodities, indices, FX and crypto.
trade.xyz
trade.xyz operates the largest HIP-3 builder-deployed dex on Hyperliquid: 70+ tokenized US equity, index, and commodity perp markets under the xyz namespace, collecting a deployer fee on every fill.
Side by side measurements
Most tradable markets on a perp DEX, live count per venue
TradingOndo Perps
Trails77
- p99
- 77
- rank
- #16
- samples
- 2,880
trade.xyz
Leads120
- p99
- 120
- rank
- #10
- samples
- 2,880
Active markets
Ondo Perpsn/atrade.xyzn/a
Perp DEX asset breadth: non-crypto markets live, stocks + indices + forex + commodities
TradingOndo Perps
Trails64
- p99
- 64
- rank
- #9
- samples
- 2,880
trade.xyz
Leads120
- p99
- 120
- rank
- #4
- samples
- 2,880
Non-crypto markets
Ondo Perpsn/atrade.xyzn/a
Counts reflect each venue's live market catalog at query time, mainnet only. The asset class comes from the venue's own metadata where it publishes one; Hyperliquid HIP-3 dexes and dYdX publish none, so their symbols are matched against the crypto markets the other venues list and a fixed table of forex, commodity and index names. Tokenized gold (PAXG, XAUT) is a crypto token and is not counted. A market counts once whether it trades 24/7 or only during exchange hours.
Perp DEX volume to open interest: 24h turnover per dollar of OI, live
TradingOndo Perps
Trails2.38x
- p99
- 4.44x
- rank
- #16
- samples
- 2,880
trade.xyz
Leads0.424x
- p99
- 0.984x
- rank
- #8
- samples
- 2,880
Volume / OI (24h)
Ondo Perpsn/atrade.xyzn/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
Ondo Perps vs trade.xyz: which one is better?
Ondo Perps and trade.xyz are compared on 4 shared OpenChainBench benchmarks. trade.xyz leads on Perp DEX volume share, live 24h notional ranked. See the live table on this page for every metric.
Which has the higher 24h perp volume, Ondo Perps or trade.xyz?
On the Perp DEX volume share, live 24h notional ranked benchmark, trade.xyz leads at $1.81B versus Ondo Perps at $185.90M. Live measurement is updated continuously by the OpenChainBench harness.
How is the Ondo Perps vs trade.xyz 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.