Perp DEX volume share, live 24h notional ranked
TradingParadex
Trails$12.19M
- p99
- $14.20M
- rank
- #22
- samples
- 2,875
trade.xyz
Leads$2.48B
- p99
- $2.74B
- rank
- #2
- samples
- 2,875
24h perp volume
Paradexn/atrade.xyzn/a
Paradex vs trade.xyz
Paradex leads on 1 of 4 shared benchmarks, trade.xyz on 3. Paradex wins on Perp DEX volume to open interest (0.492x vs 0.634x). trade.xyz wins on Perp DEX volume share, live 24h notional ranked ($2.48B vs $12.19M), Most tradable markets on a perp DEX, live count per venue (108 vs 63), Perp DEX asset breadth (109 vs 21). Data as of 2026-09-23 UTC.
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.
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
TradingParadex
Trails63
- p99
- 63
- rank
- #18
- samples
- 2,875
trade.xyz
Leads108
- p99
- 109
- rank
- #10
- samples
- 2,875
Active markets
Paradexn/atrade.xyzn/a
Perp DEX asset breadth: non-crypto markets live, stocks + indices + forex + commodities
TradingParadex
Trails21
- p99
- 21
- rank
- #12
- samples
- 2,875
trade.xyz
Leads109
- p99
- 109
- rank
- #5
- samples
- 2,875
Non-crypto markets
Paradexn/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
TradingParadex
Leads0.492x
- p99
- 0.573x
- rank
- #3
- samples
- 2,875
trade.xyz
Trails0.634x
- p99
- 0.702x
- rank
- #5
- samples
- 2,875
Volume / OI (24h)
Paradexn/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
Paradex vs trade.xyz: which one is better?
Paradex and trade.xyz are compared on 4 shared OpenChainBench benchmarks. Paradex leads on Perp DEX volume to open interest. 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 lower volume / oi (24h), Paradex or trade.xyz?
On the Perp DEX volume to open interest benchmark, Paradex leads at 0.492x versus trade.xyz at 0.634x. Live measurement is updated continuously by the OpenChainBench harness.
Which has the higher 24h perp volume, Paradex or trade.xyz?
On the Perp DEX volume share, live 24h notional ranked benchmark, trade.xyz leads at $2.48B versus Paradex at $12.19M. Live measurement is updated continuously by the OpenChainBench harness.
How is the Paradex 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.