Hyperliquid

Gains Network

Arbitrum

Gains

Billion

The <a href="https://x.com/arbitrum" rel="noopener noreferrer nofollow">@arbitrum</a> network is cementing its position as one of the most active venues for decentralized perpetuals trading, with fresh data from DeFiLlama showing a sharp acceleration in volume over the past week.
<h2 id="arbitrum-perps-volume-surges-past-50-billion">Arbitrum Perps Volume Surges Past $50 Billion</h2>
According to DeFiLlama, perps trading volume on Arbitrum jumped more than 60% in the past seven days, reaching $19.91 billion for the week. That momentum has pushed the chain's rolling 30-day total above $50 billion, a milestone that underlines Arbitrum's status as a leading destination for on-chain leveraged trading.
Arbitrum hosts more active perpetuals protocols than any other network tracked by major analytics providers, a concentration that reflects the chain's combination of low transaction costs, EVM compatibility, and an established user base. GMX, one of the most recognized names on the chain, uses oracle-based execution to eliminate price impact for large orders, while Gains Network covers a wide market set spanning forex, stocks, commodities, and indices alongside crypto perpetuals.
The breadth of protocols available on Arbitrum is a key part of its appeal. The density of perp platforms on the chain does create liquidity fragmentation, however. Unlike <a href="https://x.com/HyperliquidX" rel="noopener noreferrer nofollow">@HyperliquidX</a>, where all volume concentrates in one venue, Arbitrum's protocols compete for the same pool of active traders, keeping fee pressure competitive but leaving individual venues with thinner order books.
<h2 id="hyperliquid-remains-the-clear-leader">Hyperliquid Remains the Clear Leader</h2>
Despite the strong numbers, Arbitrum still has significant ground to cover before challenging <a href="https://x.com/HyperliquidX" rel="noopener noreferrer nofollow">@HyperliquidX</a> for the top spot. Hyperliquid sits at approximately $220 billion in 30-day perps volume, dwarfing Arbitrum's $50 billion over the same period. Hyperliquid runs its own layer-1 blockchain built specifically for order-book trading, processing orders, cancellations, trades, and liquidations directly on-chain. It has captured the largest share of decentralized perp volume of any single venue, with 30-day volume around $196 billion at last count per DefiLlama.
The DEX-to-CEX ratio of perpetual volume has increased fivefold to 10% by January 2026, and the top 12 perpetual DEXs have managed to increase their average monthly volume to $611.57 billion in the first four months of 2026. That broader growth in on-chain derivatives activity is lifting multiple chains, but Hyperliquid's structural advantages have kept it firmly at the top of the leaderboard.
For Arbitrum, the latest volume figures represent a meaningful improvement in its standing among DeFi derivatives chains. Whether that momentum can be sustained will depend on continued protocol development and the chain's ability to attract and retain active traders in a competitive market.
Sources: <a href="https://defillama.com/perps/chain/arbitrum" rel="noopener noreferrer nofollow">DeFiLlama: Arbitrum Perp DEX and Futures Volume</a> <a href="https://perpfinder.com/chains/arbitrum" rel="noopener noreferrer nofollow">PerpFinder: Perpetual Futures on Arbitrum</a> <a href="https://metamask.io/news/best-perps-dexs-in-2026" rel="noopener noreferrer nofollow">MetaMask: Best Perps DEXs in 2026</a>

Arbitrum is the new home of Perps Trading

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