March 11 Report: The current on-chain Perp DEX market trading volume has declined, while open interest remains high, indicating that leveraged funds have not exited. Hyperliquid's trading volume decreased by 21%, and trading volumes on other platforms such as Aster and EdgeX have also changed. The market is temporarily awaiting further news.

Gate News Report, March 10 — According to statistical data, the spot trading volume of mainstream CEXs in February 2026 increased by 4.8% compared to January 2026, and the perpetual contract trading volume increased by 17.4% compared to January 2026. During the same period, the perpetual contract trading volume of mainstream Perp DEXs decreased by 7.4% compared to January 2026, but website traffic increased by 33.53%.

According to DefiLlama data, during the weekend of March 9th, trading activity on mainstream perpetual contract decentralized exchanges was relatively low. Hyperliquid still ranked first in trading volume, with approximately $4.57 billion in 24-hour trading volume. Although trading volume and open interest on major exchanges saw little change, TVL experienced a slight increase. EdgeX and Aster ranked second and third, respectively.

On March 9th, a new account on Polymarket invested $25,000 betting that "Extended FDV will exceed $300 million on the day after launch," with a current probability of 46%. The project is a Perp DEX developed by a former Revolut executive team and has launched on Starknet, with over $6.5 million in funding.

Trading activity on mainstream Perp DEXs has declined, with the 24-hour trading volume on most platforms decreasing compared to the previous day. However, open interest remains stable, and there is no significant outflow of leveraged funds. Currently, the trading volume ranking is led by Hyperliquid, reaching $7.34 billion.

According to DefiLlama data, trading volumes on mainstream Perp DEXs have increased significantly, with Hyperliquid continuing to lead. Platforms like Aster, EdgeX, and Lighter are experiencing accelerated trading volume growth, indicating a return of leveraged funds to the market. The 24-hour trading volume and open interest on various platforms have both increased.

According to DefiLlama data, the trading volume of mainstream Perp DEXs has not changed significantly in the past 24 hours. Among them, Hyperliquid's trading volume is approximately $5.12 billion, with Aster in second place at $3.06 billion. Other platforms such as Lighter, EdgeX, Apex, and Pacifica have gradually seen decreasing trading volumes.

Mainstream Perp DEX trading volume and open interest have significantly rebounded in the past 24 hours, with Hyperliquid's trading volume reaching approximately $7.1 billion, followed by Aster with about $3.8 billion. Overall market performance is positive.

Hyperliquid's Perp DEX Trade.xyz announced the activation of cross-margin functionality for the MAG7 assets of the seven major U.S. stock giants on the mainnet. Users need to use a unified account or portfolio margin to achieve the desired effect. Standard accounts' cross-margin is only shared within the same DEX.