Hiddenatch@hiddenatch

Perp DEX Exchange Reports

Perp DEXs, one exchange at a time, from public APIs, on-chain data and venue docs, plus team replies where a report says so: scale, deposits, fees, money flows and who actually trades. Unusual figures are called out, strengths are credited, and each report lists its sources and limits.

Pacifica

2026-11-07

Solana perp DEX

Annualized revenue at 179% of TVL; ~96% of 7-day volume unattributed

$446M24h volume (2-side)
19.1×volume ÷ TVL
179%annualized rev ÷ TVL
8red flagsOpen report →

TxFlow

2026-11-10

Perp DEX on its own L1

Three market-maker-type accounts paid zero maker and taker fees; the public fee table has no zero-taker tier

$149.6MMonday volume, by candles
92.4%maker volume from 10 accounts (recorded tape)
$43.36MUSDC in the bridge, Nov 8
7open itemsOpen report →