DeFi perps volume explodes past $1T in a record month so far

Decentralized perpetual trading volume is set for a massive month in October, having just passed a record $1 trillion with a week still to spare as traders place big bets on the crypto markets.

The $1 trillion milestone has already beaten August’s record of $762 billion by a considerable margin, according to data from DeFiLlama.

While Hyperliquid leads October with $317.6 billion in trading volume, Lighter, Aster, and edgeX have also fared well, seeing $255.4 billion, $177.6 billion and $134.7 billion, respectively, with the rest made up of smaller decentralized exchanges.

Those platforms contributed to a record $78 billion in decentralized perps volume on Oct. 10 alone. 

Given the current run rate, decentralized perps volume is on track to finish October at about $1.3 trillion — nearly doubling August’s tally.