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Total market cap (circulating) (latest)


Synthetix dominance 44.4%

Total trading volume (24h)


dYdX dominance 72.3%

Total fees (24h)


dYdX dominance 45.3%

Total revenue (24h)


dYdX dominance 65.6%

Total active users (daily) (latest)


Perpetual Protocol dominance 31.9%

Total core developers (latest)


Synthetix dominance 20.8%


What is Derivatives

Crypto derivatives are financial contracts that derive their value from an underlying asset. They allow investors to speculate on or hedge the price action of an asset without directly owning or interacting with it. Crypto derivatives are a diverse market sector, with protocols that allow users to trade perpetual contracts, options contracts, interest rate swaps, and more.

How do Derivatives work

Derivatives protocols fetch reliable asset prices from oracle services, which forms the foundation of a derivatives contract. This allows users to trade and speculate on the prices of both cryptocurrencies and assets that are not native to the blockchain, such as gold, fiat currencies, or stocks. The primary business model for derivatives protocols is to generate revenue by taking a cut of the trading fees paid by users.

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Competitive landscape

Daily market cap (circulating) for in the past 180 days.

Data table

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