Lighter overtakes Hyperliquid! Today's trading rankings for mainstream Perp DEX undergo a major reshuffle

【BlockBeats】Latest data shows that the trading landscape of derivatives DEXs has recently experienced new changes. As of yesterday, Lighter reclaimed the top spot with a 24-hour trading volume of $6.1 billion, pushing the previous leader Hyperliquid ($5.64 billion) to second place.

In this market movement, the performance of major platforms varies. Although Hyperliquid’s trading volume has slightly declined, its TVL and open interest remain substantial—$4.12 billion in TVL and $7.04 billion in open contracts, indicating a solid foundation. In contrast, Lighter, while experiencing high trading volume, has a TVL of $1.41 billion and open interest of $1.56 billion, still lagging behind Hyperliquid.

Aster follows closely, with a steady 24-hour trading volume of $4.1 billion, and its combination of $1.27 billion in TVL and $2.39 billion in open contracts remains quite solid. The gap among platforms like EdgeX, ApeX, and Variational is more apparent, with trading volumes of approximately $2.76 billion, $1.89 billion, and $1.08 billion respectively.

Interestingly, Backpack and Pacifica, though smaller in scale, are also vying for market attention—Backpack’s $1.07 billion trading volume and $221 million in open contracts show some popularity, while Pacifica appears to be a small but refined player.

Overall, in the past 24 hours, most platforms have seen little change in TVL and open interest, indicating that the market is still digesting and no significant liquidity migration has occurred. This relatively balanced state provides traders with more options.