On-chain derivatives, specifically perpetual decentralized exchanges (perpDEXs), have experienced substantial growth. According to reports, perpDEXs processed $7.1 trillion in trading volume over the twelve months ending November 2025, marking a 371% year-over-year increase. In November 2025, the monthly volume reached $1.17 trillion. This growth indicates the sector's evolution from experimental protocols to high-throughput trading venues. The data suggests a significant expansion in the adoption and utilization of on-chain derivative platforms.

On-chain derivatives, specifically perpetual decentralized exchanges (perpDEXs), have experienced substantial growth. According to reports, perpDEXs processed $7.1 trillion in trading volume over the twelve months ending November 2025, marking a 371% year-over-year increase. In November 2025, the monthly volume reached $1.17 trillion. This growth indicates the sector's evolution from experimental protocols to high-throughput trading venues. The data suggests a significant expansion in the adoption and utilization of on-chain derivative platforms.