As Lighter completes TGE by the end of 2025, the market focus in the perpetual contract DEX sector is shifting. When evaluating the next batch of upcoming projects, the EVM assessment framework becomes particularly important — not only to look at trading volume performance but also to understand how these projects seek differentiated advantages within the multi-chain ecosystem. This article analyzes 23 top-ranked Perp DEXs from three dimensions: trading volume, funding background, and technical selection.
High-performance perpetual DEXs: technical trade-offs based on trading volume
Based on recent data from DefiLlama, the projects listed below have generated genuine trading volume and user engagement in the past 30 days. However, during the EVM evaluation process, we found that these platforms have adopted vastly different chain deployment strategies.