DEX Statistics 2026: Volume, Market Share and Perp DEX Data

Decentralized exchanges processed $273.795 billion in spot trading volume over the last 30 days, with $5.72 billion in the latest 24 hours, according to DefiLlama. Perpetual futures DEXs moved more: $614.25 billion in 30-day perp volume, or about 2.2 times the spot figure. The DEX statistics below follow that split through volume, venues, chains, liquidity, fees, and losses.

The DEX share of spot trading volume doubled from 6.9% in January 2024 to 13.6% in January 2026, per CoinGecko research. Readings below come from live DefiLlama dashboards, CoinGecko research reports, exchange announcements, and an SEC submission, and every figure carries its window, because DEX volume moves week to week.

Key Takeaways

• Perp DEXs traded $614.25 billion over 30 days, against $273.795 billion on spot DEXs.
• Robinhood Chain posted $51.971 billion in 30-day DEX volume, above Ethereum’s $42.148 billion.
• Uniswap took a 41.2% share of Top 10 spot DEX volume in 2026 Q2.
• DEXs hold $14.772 billion in total value locked across 2,130 protocols, which turns over about 18.5 times a month.
• Uniswap’s fees came to about 0.2% of its 30-day volume.
• Perp DEXs held 10.2% of perps trading volume in January 2026, up from 2.0% in January 2024.

Editor’s Choice

• 30-day spot DEX volume: $273.795 billion across tracked DEX protocols.
• 30-day perp DEX volume: $614.25 billion, with $14.205 billion in open interest.
• Q2 2026 Top 10 spot DEX volume: $408.9 billion, down from $556.4 billion in Q1.
• Largest spot DEX, 30 days: Uniswap at $90.95 billion across 49 chains.
• Largest perp DEX, 30 days: Hyperliquid at $203.285 billion.
• Uniswap lifetime volume: more than $4.7 trillion, per Uniswap Labs.

DEX Trading Volume Statistics

• DEXs recorded $5.72 billion in spot volume over 24 hours and $273.795 billion over 30 days.
• DefiLlama’s volume coverage spans 810 DEX protocols and 31 CEX venues.
• Uniswap alone produced $90.95 billion in 30-day volume, about 33% of the DEX total.
• Spot measures token swaps and perps measure leveraged exposure, so the totals should not be added.

Source: DefiLlama, October 2026

About This Data

Figures come from 15 sources: 8 DeFiLlama data dashboards, 2 CoinGecko research reports, 4 Uniswap Labs and PancakeSwap announcements, and 1 SEC filing. Only primary data dashboards, exchange announcements, regulatory filings, and dated research qualified. Figures are reviewed on a rolling basis and updated when sources publish new editions.

Don't chase the news. Let us curate it.

You get one weekly briefing with only the stories that matter. If the market is quiet, we skip it.

Email address

Get the Weekly Briefing - it's free!

Read by pros at Visa, Mastercard, Vanguard, and the FDIC.

Largest DEXs by Trading Volume

• Uniswap led 30-day spot volume at $90.95 billion, against $29.29 billion at PancakeSwap.
• Aerodrome posted $14.207 billion, and Pump $12.973 billion.
• The list also included BisonFi at $9.559 billion, Raydium at $9.443 billion, and Orca at $7.943 billion.
• Tessera V posted $5.921 billion over 30 days across 4 chains.
• Uniswap also led the latest day with $1.905 billion.
• The Uniswap statistics page splits that lead by chain and version.
• PancakeSwap runs across 12 chains, against Uniswap’s 49.
• Over August 2025 to January 2026, PancakeSwap and Uniswap broke into the top 10 largest spot exchanges, with $0.55 trillion and $0.54 trillion in cumulative trading volume, respectively.

What are the top 10 DEXs?

DefiLlama’s capture used here ranks nine DEXs, not ten. Listed in order, the nine DEX protocols with the highest 24-hour volume are Uniswap, PancakeSwap, Pump, BisonFi, Aerodrome, Tessera V, Raydium, Meteora, and Orca. On CoinGecko’s quarterly list, Hyperliquid entered the top 10 with a 3.7% share.

Recent Developments

• October 2, 2026: SMBC Nikko and Nethermind said they are building the DeFi Gateway, an onchain trading venue for Japanese investors on Uniswap v4, with completion targeted for mid-2027.
• September 24, 2026: Bitget lost $387 million in a hot wallet key compromise, according to DefiLlama’s hacks database.
• September 23, 2026: PancakeSwap began paying liquidity providers 90% of all trading fees in its Infinity pools on Robinhood Chain, cutting the protocol’s share to 10%.
• September 16, 2026: Uniswap went live on Arc, Circle’s Layer 1, and reported $2.7 trillion in stablecoin volume processed since 2020.
• September 14, 2026: Andreessen Horowitz and the DeFi Education Fund asked the SEC for a safe harbor from exchange registration for DEXs and the apps that access them, in a written submission to the SEC Crypto Task Force.
• September 9, 2026: PancakeSwap reported 36 straight months of net CAKE supply reduction and a share of more than 41.4% of bStocks trading volume.

Monthly DEX Trading Volume in 2026

• Top 10 spot DEXs traded $408.9 billion in 2026 Q2, a 26.5% decline from $556.4 billion in Q1.
• Monthly volume peaked at $215 billion in January 2026 and fell to $129 billion in May.
• June recovered slightly to $138 billion.
• Aggregate DEX volume by chain fell 29.0% quarter over quarter to $463.2 billion.

DEX vs CEX Market Share

• The DEX share of spot trading volume rose from 6.9% in January 2024 to 13.6% in January 2026.
• At its peak in June 2025, DEXs accounted for 24.5% of spot trading volume.
• DEX share of spot trading has remained above the 10% mark since January 2025.
• The Top 10 Spot DEX:CEX ratio stood at 23.5% in 2026 Q2, up 2.1 percentage points.
• CEXs still maintained over $1 trillion in monthly spot trading volume.

Key finding: CoinGecko’s CEX and DEX Trading Activity Report 2026 found absolute spot trading volume on DEXs more than doubled from $95.86 billion to $231.29 billion between January 2024 and January 2026. Centralized venues still dominate spot trading, though the DEX share stayed above the 10% mark from January 2025 through January 2026, the last month in the report.

The perps side moved faster than spot over the same two years, as the table below shows. Perp DEX volume increased 8-fold, from $81.74 billion to $739.48 billion.

Source: CoinGecko CEX and DEX Trading Activity Report 2026

Is Coinbase a DEX?

No. CoinGecko’s exchange report lists Coinbase among the major CEXs, alongside Bitget, OKX, and Upbit, which PancakeSwap and Uniswap ranked ahead of on cumulative spot volume. A DEX settles trades through smart contracts while users keep custody of their tokens.

DEX Market Share by Protocol

• Uniswap took a 41.2% share of Top 10 spot DEX volume in Q2, despite its trading volume falling to $168.5 billion.
• PancakeSwap remained second with $80.7 billion, down 34.4%.
• Aerodrome grew 33.2% quarter over quarter to $44.7 billion and a 10.9% share.
• Solana prop DEXs such as Humidifi cratered 83.0%, while BisonFi fell 47.7%.
• Hyperliquid was the only DEX to rank among the top 10 largest perps exchanges from August 2025 to January 2026, with $1.59 trillion in cumulative trading volume.
• Uniswap’s rising share in a falling quarter shows volume consolidating toward the largest venue when activity cools. The Uniswap vs PancakeSwap comparison tracks the two largest spot DEXs head to head.

Source: CoinGecko 2026 Q2 Crypto Industry Report

DEX Volume by Blockchain

• Solana led 30-day DEX volume at $77.377 billion.
• Robinhood Chain ranked second at $51.971 billion, ahead of Ethereum at $42.148 billion.
• BSC and Base followed with $35.027 billion and $29.147 billion.
• DefiLlama tracks DEX volume on 294 chains.
• On a quarterly basis, Ethereum reclaimed first place with a 27.2% share in 2026 Q2, while Solana fell 43.9% to $103.9 billion and slipped to third at 22.4%.
• Base dropped 6.4% to $70.6 billion with a 15.2% share.
• Hyperliquid was the only chain in the top 10 to grow, up 2.2% quarter over quarter.

Why it matters: Robinhood Chain’s $51.971 billion in 30-day DEX volume puts it above Ethereum. Over 30 days, more swap flow ran through Robinhood Chain than through Ethereum, so Ethereum-only rankings miss a large share of DEX activity.

Perpetual DEX Statistics

• Hyperliquid led 30-day perp volume at $203.285 billion, about 33% of the perp DEX total.
• Aster and Variational posted $63.396 billion and $63.061 billion.
• Lighter posted $55.099 billion, and edgeX $35.326 billion.
• GMX recorded $25.643 billion across 5 chains.
• Top 12 perp DEX volume fell 16.7%, from $2.0 trillion in 2026 Q1 to $1.7 trillion in Q2.
• Hyperliquid’s volume share climbed above the 40% mark in June, the first time since September 2025.
• Aster was the only other Top 12 perp DEX to have more than 10% volume share in Q2.
• Combined perps volume grew 75%, from $4.14 trillion in January 2024 to $7.24 trillion in January 2026.

Monthly perp DEX volume bottomed in April before recovering, as the series below shows. Trading volume declined the most between March and April, from $605.7 billion to $505.1 billion, then returned above $600 billion in June.

By the numbers: DefiLlama’s dashboards show $614.25 billion in 30-day perp volume against $273.795 billion in spot DEX volume. On-chain trading is now a leveraged-derivatives market first and a token-swap market second, which changes what “DEX volume” measures. The perpetual futures statistics page covers funding and leverage across both venue types.

Perp DEX Open Interest

• Hyperliquid carried $8.267 billion in open interest, about 58% of the $14.205 billion tracked.
• Aster and Variational held $1.395 billion and $1.076 billion.
• OI on Top 12 perp DEXs grew 13.2% from $12.4 billion on April 1, 2026, to $14.0 billion on July 1, 2026.
• Hyperliquid’s OI rose from $7.3 billion to $9.3 billion over the same window.
• TradFi assets made up 3.8% of Hyperliquid’s OI on January 1 and 21.0% by July 1, led by equities at 12.4%.
• Hyperliquid’s OI share among Top 12 perp DEXs reached 66%. The Hyperliquid statistics page breaks down its HIP-3 markets and token data.

DEX Aggregator Statistics

• Jupiter routed $14.79 billion in 30-day aggregator volume.
• DFlow routed $9.553 billion and 0x Protocol $9.469 billion.
• OKX DEX routed $7.748 billion and KyberSwap $7.74 billion.
• 0x Protocol operates across 27 chains, and OKX DEX across 35.
• Aggregators routed $2.305 billion in the latest 24 hours.
• 1inch routed $2.924 billion over 30 days across 19 chains.
• Aggregator volume overlaps with DEX volume because an aggregator routes orders into the same pools, so the two should never be summed.

DEX Liquidity and TVL

• DEXs hold $14.772 billion in total value locked across 2,130 protocols.
• DEX TVL rose 14.09% over the past month.
• Liquid staking leads DeFi categories at $61.305 billion, followed by bridges at $60.875 billion and lending at $55.004 billion.
• Against 30-day spot volume, DEX liquidity turned over about 18.5 times.
• DEXs generated $1.44 million in combined 24-hour revenue, a revenue figure that measures something different from the fee totals in the next section.
• High turnover on modest liquidity is how AMM pools earn: on flow, not deposit size. The DeFi market statistics page tracks the wider TVL picture across chains.

DEX Fees and Revenue

• Uniswap collected $182.94 million in 30-day fees, or about 0.2% of its 30-day volume.
• Pump recorded $172.67 million in 30-day fees, about 1.3% of its 30-day DEX volume.
• Meteora took in $33.23 million over 30 days.
• All protocols tracked on DefiLlama’s fees dashboard generated $65.87 million in 24 hours and $2.456 billion over 30 days.
• Uniswap V1 and V2 users pay 0.3% fees on each swap.
• Pump’s fee line also counts bonding-curve and terminal fees, so its rate is not a like-for-like swap fee.

Source: DefiLlama, October 2026

How do DEXs make money?

DEXs earn through swap fees. PumpSwap splits each trade into LP fees of 0.20%, protocol fees of 0.05%, and coin creator fees of 0.05%. In its Infinity pools on Robinhood Chain, PancakeSwap pays liquidity providers 90% of trading fees and keeps 10%.

DEX Security and Hack Statistics

• DefiLlama records $21.065 billion in total value hacked, including $9.275 billion in DeFi and $3.69 billion in bridges.
• The largest DEX attack in CoinGecko’s sample resulted in $223 million in losses.
• In CoinGecko’s CEX and DEX Trading Activity Report 2026, covering the prior year or so, the top 5 largest DEX heists made up just 20.9% of the top CEX hacks.
• Over the same window in that report, CEXs lost well over $2.0 billion to hacks and exploits, with 71% of the funds stolen in the Bybit hack in February 2025.
• Uniswap Labs says the Uniswap Protocol has handled more than $4.7 trillion in volume with zero hacks.
• Custody shapes the loss profile: in CoinGecko’s report, compromised private keys, often taken through social engineering and UI phishing, were the most common point of failure in exchange hacks. The crypto hacks tracker logs exchange and bridge exploits as they are reported.

What are the risks of using a DEX?

Smart contract vulnerabilities are the most dangerous attack vector for DEXs. Self-custody removes exchange counterparty risk but places contract, key, and approval risk on the user, a trade-off that smart contract security statistics measure in audit and exploit data.

Where can you track DEX activity trends?

DefiLlama publishes daily DEX volume for 810 DEX protocols across 294 chains, with separate dashboards for perps and aggregators. CoinGecko’s quarterly crypto industry reports add monthly venue shares, chain shares, and the DEX-to-CEX volume ratio. Dated volume series give the cleanest trend line, and the crypto exchange market share data adds the centralized side.

Conclusion

DEXs moved $273.795 billion in spot volume over 30 days. Perp DEXs moved $614.25 billion over the same window. The center of on-chain trading has shifted toward leveraged perps, while Uniswap keeps the largest share of spot volume. Traders, liquidity providers and analysts benefit most from tracking those shifts by window rather than by headline.

Andreessen Horowitz and the DeFi Education Fund have proposed that the SEC create a safe harbor from exchange registration for DEXs. Its outcome will shape how US users reach these venues; the crypto exchange statistics page covers the centralized side.