全球 Perp DEX 主要 5 社比较
Wiki ??
????? ???????? ???? DEX ???? ????? FSA ??????????? ????????????????
概要
Perp??????DEX ? CEX ??????Binance / Bybit / OKX??????????????????? funding-rate ????????? CLOB???????????? AMM / oracle pricing ?????CLOB ? Hyperliquid ? dYdX v4 ???AMM / oracle pricing ? GMX ? Drift ????2024-2026 ?? Hyperliquid ???????????? CEX ? latency ???? UX?? CEX ???????? global-cex-top10-comparison??? DEX ?? global-dex-major-five-comparison?
5 强画像
- Hyperliquid ? ?? L1?Hyperliquid Chain??? CLOB ???? DEX????????????? latency?perp 24h vol ? 1-3B ???? perp DEX ???2024-11 ?? HYPE token??????? emission ???????????? Jeff Yan?
- dYdX v4 ? ? 2023-10 ? StarkEx L2?Ethereum???????? Cosmos chain?dYdX Chain??? validator ??? CLOB????? commit ????DYDX token ? Cosmos ?? native token???????????????
- GMX ? ??? Arbitrum + Avalanche?LP ?? GLP ?????????? trader ? counterparty?oracle pricing ?? Chainlink + ?? keeper?GMX token ????? fee share?2022-2023 ???????2024 ??????
- Vertex Protocol ? Arbitrum ?? CLOB + AMM ????????? spot?perp ? money market ????? margin account?VRTX token?
- Drift Protocol ? Solana ?? oracle pricing + AMM ????????? Solana ?? perp ?? hub ???DRIFT token??? latency ???? Solana ???????
?????? / ? / token / 24h vol?
| ?? | ? | ?? | token | 24h vol???? |
|---|---|---|---|---|
| Hyperliquid | 自有 L1 | CLOB | HYPE | $1-3B |
| dYdX v4 | Cosmos (dYdX Chain) | CLOB | DYDX | $0.3-1B |
| GMX | Arbitrum + Avalanche | oracle/GLP 池 | GMX | $0.1-0.3B |
| Vertex | Arbitrum | CLOB+AMM 混合 | VRTX | $0.1-0.4B |
| Drift | Solana | oracle+AMM | DRIFT | $0.1-0.3B |
??????CLOB ??????limit / stop / IOC??MEV resistance ??????????????????? performance ?????AMM / oracle pricing ?????? LP ???????slippage ? oracle ?????????????????????????? Hyperliquid??????????? token ?? FSA ??????????? JVCEA WhiteList?jvcea-whitelist-token-listing?????????????chain-native DEX ?? incumbent ???? native-dex-flip-incumbent-pattern??????? 2025-2026 ??????Solana ? Drift ?? Solana ecosystem DEX comparison???????? cross-chain four poles overview ? cross-chain bridge ? CEX ????