Best of · Ethereum · Updated Nov 6, 2026

The best Derivatives dApps on Ethereum in 2026

We track 48 Derivatives dApps that run on Ethereum and have reviewed 37 of them in full. Our top pick is Contango V2. Each one is scored on security, ease of use, fees and features.

1
Contango V2
Derivatives · Arbitrum, Ethereum, Base +7
Contango V2 is a DeFi looping protocol that opens leveraged long, short and yield positions on existing lending markets in one transaction. It suits experienced traders who accept liquidation risk.
Read the Contango V2 review Visit Contango V2(opens in a new tab)
ScoreScore 7.5 out of 10
TVL $16.2M+138%
2
Orderly Bridge
Derivatives · Ethereum, Solana, BNB Chain +16
Orderly is shared-orderbook infrastructure that lets builders launch their own perpetual-futures DEX, and traders use those frontends. It is a developer product first, with self-custody, multiple chains and an ORDER token.
Read the Orderly Bridge review Visit Orderly Bridge(opens in a new tab)
ScoreScore 7.2 out of 10
TVL $25.7M−1.0%
3
ApeX Pro
Derivatives · Ethereum, Polygon, Arbitrum +4
ApeX Pro is the earlier version of ApeX's decentralized perpetuals exchange, now presented under ApeX Omni, offering 100+ perp markets with up to 100x leverage and self-custody. Its on-chain TVL is small, so leverage risk and liquidity depth deserve a close look.
Read the ApeX Pro review Visit ApeX Pro(opens in a new tab)
ScoreScore 7.0 out of 10
TVL $1.28M−0.9%
4
Orderly Chain
Derivatives · Ethereum
Orderly Chain is the OP Stack settlement layer behind Orderly Network, a shared-orderbook perp DEX infrastructure that lets builders launch their own trading apps. It targets developers more than retail traders.
Read the Orderly Chain review Visit Orderly Chain(opens in a new tab)
ScoreScore 7.0 out of 10
TVL $241K−0.3%
5
Volmex
Derivatives · Arbitrum, Ethereum, Polygon
Volmex publishes the BVIV and EVIV crypto implied-volatility indices and sells API access to them, while third-party venues list perpetuals and prediction markets that settle to those prints. Its strength is the benchmark role; its own onchain TVL is small.
Read the Volmex review Visit Volmex(opens in a new tab)
ScoreScore 7.0 out of 10
TVL $131K+0.0%
6
Lighter
Derivatives · Ethereum
Lighter is a decentralized perpetual futures exchange built as a custom zero-knowledge rollup on Ethereum, aiming for centralized-exchange speed and cost. It has grown quickly, but it is a leveraged trading venue with young infrastructure and a young token.
Read the Lighter review
ScoreScore 7.0 out of 10
TVL —
7
Synfutures
Derivatives · Base, Ethereum
SynFutures is a decentralized exchange for perpetual futures that lets users trade crypto, tokenized stocks and other assets from their own wallets. It suits experienced derivatives traders, and leverage risk is the main caveat.
Read the Synfutures review
ScoreScore 7.0 out of 10
TVL —
8
Grvt Bridge
Derivatives · Ethereum
Grvt Bridge is the Ethereum deposit route into Grvt, a non-custodial exchange for perpetual futures and spot trading that markets zero-knowledge privacy. It holds roughly 33.7 million dollars in value but lists no audits, so the main takeaway is to read the risks before depositing.
Read the Grvt Bridge review Visit Grvt Bridge(opens in a new tab)
ScoreScore 6.8 out of 10
TVL $34.0M+1.1%
9
Derive
Derivatives · Ethereum
Derive is a decentralised exchange for crypto options, perpetual futures and spot trading, governed by the DRV token. Its V3 release moved custody to Ethereum L1 contracts, but fees and audit details are not published.
Read the Derive review Visit Derive(opens in a new tab)
ScoreScore 6.8 out of 10
TVL —
10
Grvt
Derivatives · zkSync Era, Ethereum
Grvt is a hybrid on-chain exchange for perpetual futures on crypto, gold, oil and stocks, with non-custodial trading and yield on collateral. It suits derivatives traders who want self-custody, but fees, audits and licensing are not published in the sources reviewed.
Read the Grvt review Visit Grvt(opens in a new tab)
ScoreScore 6.5 out of 10
TVL —
11
Apollox
Derivatives · BNB Chain, Ethereum, Arbitrum +3
ApolloX is a multichain decentralized exchange for crypto perpetuals, with off-chain matching in V1 and on-chain V2 trading. Its broad chain support and self-custodial V2 come with substantial leverage and trading risks.
Read the Apollox review Visit Apollox(opens in a new tab)
ScoreScore 6.5 out of 10
TVL —
12
Derive V2
Derivatives · Optimism, Ethereum, Base +4
Derive V2 is a self-custodial exchange for crypto options, perpetuals and spot, aimed at BTC and ETH traders. Its main draw is onchain options; the main caveats are modest locked value and no listed audits.
Read the Derive V2 review Visit Derive V2(opens in a new tab)
ScoreScore 6.4 out of 10
TVL $295K+0.0%
13
SunX Bridge
Derivatives · Tron, Ethereum, BNB Chain +1
SunX is a non-custodial perpetual futures exchange on TRON, listed on DefiLlama under Bridge with about $21.3 million in TVL. It suits experienced derivatives traders in the TRON ecosystem, and fees and risk parameters are not published in the material reviewed.
Read the SunX Bridge review Visit SunX Bridge(opens in a new tab)
ScoreScore 6.3 out of 10
TVL $21.2M−4.0%
14
SIR
Derivatives · Ethereum, MegaETH, Hyperliquid L1
SIR is a leveraged trading protocol that charges a one-time fee and says it has no liquidations or funding rates. Its design is unusual, but TVL is small and the guarantees have stated limits.
Read the SIR review Visit SIR(opens in a new tab)
ScoreScore 6.3 out of 10
TVL $83.0K−7.2%
15
Electra
Derivatives · BNB Chain, TON, Ethereum
Electra is a multi-chain, non-custodial perpetual DEX that offers up to 100x leverage and no-KYC wallet trading, but its on-chain TVL is small and most of its headline numbers are self-reported.
Read the Electra review Visit Electra(opens in a new tab)
ScoreScore 6.3 out of 10
TVL $81.9K+0.1%
16
Crypto Volatility Index Cvi
Derivatives · Ethereum, Polygon
CVI is a decentralized index of 30-day implied volatility for Bitcoin and Ethereum, paired with a platform for trading it. It suits experienced users who understand time-decay fees and liquidity-provider risk.
Read the Crypto Volatility Index Cvi review Visit Crypto Volatility Index Cvi(opens in a new tab)
ScoreScore 6.3 out of 10
TVL —
17
Strike Finance Perpetuals
Derivatives · Cardano, Ethereum
Strike Finance Perpetuals is a Cardano-based on-chain derivatives protocol offering perpetual futures with up to 50x leverage and no KYC. Activity and liquidity look small, so treat it as an early-stage venue.
Read the Strike Finance Perpetuals review Visit Strike Finance Perpetuals(opens in a new tab)
ScoreScore 6.2 out of 10
TVL $2.19M+16.2%
18
Polynomial Liquidity
Derivatives · Ethereum
Polynomial is a decentralized perpetuals exchange that runs on its own Ethereum rollup, letting traders take leveraged positions on crypto assets with one margin account. It suits experienced derivatives traders who understand liquidation risk and are comfortable with a young, single-chain platform.
Read the Polynomial Liquidity review Visit Polynomial Liquidity(opens in a new tab)
ScoreScore 6.2 out of 10
TVL $0
19
AlphaX
Derivatives · BNB Chain, Ethereum, Arbitrum +1
AlphaX is a perpetual futures, spot and prediction platform that pairs on-chain custody with off-chain settlement. It suits experienced derivatives traders, but high leverage and unclear fee disclosure call for caution.
Read the AlphaX review Visit AlphaX(opens in a new tab)
ScoreScore 6.0 out of 10
TVL $3.34M+1.5%
20
dYdX V3
Derivatives · Ethereum
dYdX V3 is a decentralized crypto derivatives platform focused on perpetual trading. It is aimed at active traders, but fees, market details, and audit scope are not clearly disclosed.
Read the dYdX V3 review Visit dYdX V3(opens in a new tab)
ScoreScore 5.8 out of 10
TVL $7.01M−27.9%
21
Synthetix V3
Derivatives · Base, Ethereum, Arbitrum
Synthetix V3 is a perpetual futures trading interface that matches orders offchain and keeps deposits onchain, currently promoted on Ethereum Mainnet. It suits experienced derivatives traders comfortable with high leverage, and its main caveat is that leveraged positions can be liquidated quickly.
Read the Synthetix V3 review Visit Synthetix V3(opens in a new tab)
ScoreScore 5.6 out of 10
TVL $0+0.1%
22
Vest Markets
Derivatives · Arbitrum, Ethereum, BNB Chain +4
Vest Markets is a perpetuals DEX that advertises equities, crypto and FX trading with up to 50x leverage and zero fees. It is small by TVL and light on published detail, so treat it as a high-risk venue.
Read the Vest Markets review Visit Vest Markets(opens in a new tab)
ScoreScore 5.5 out of 10
TVL $415K+19.6%
23
Paradex Bridge
Derivatives · Ethereum
Despite the “Bridge” label, the linked Paradex app is presented as a decentralized derivatives exchange for perpetuals, futures and options. Product and fee details are sparse, so check the network and trading terms before using it.
Read the Paradex Bridge review Visit Paradex Bridge(opens in a new tab)
ScoreScore 5.3 out of 10
TVL $19.5M−23.8%
24
Lynx
Derivatives · Sonic, Boba, Arbitrum +15
Lynx is a multichain perpetuals DEX that advertises trading with any token as collateral and gasless access from any blockchain. Its broad premise is clear, but key details such as fees, leverage limits, and security reviews are not published.
Read the Lynx review Visit Lynx(opens in a new tab)
ScoreScore 5.0 out of 10
TVL $155K−5.1%
25
Wasabi Perps
Derivatives · Base, Solana, Ethereum +2
Wasabi Perps is a leverage trading protocol for long-tail assets such as memecoins and NFTs, running on several chains. TVL is small and public reporting hint at a recent incident, so treat it as high risk.
Read the Wasabi Perps review Visit Wasabi Perps(opens in a new tab)
ScoreScore 4.8 out of 10
TVL $449K−7.8%

Derivatives dApps on Ethereum: the numbers

Tracked: 48
Reviewed: 48
Total TVL: $177M
Avg. score: 5.8/10

There are 48 derivatives dApps on Ethereum in the DappsAtlas index. Every one of them has a full review. Across the 36 with TVL data, the combined value locked is $177M, counting value on every chain they support. No single project dominates: the largest, Grvt Bridge, holds 19%. The top five account for 72%, while the median derivatives dApp holds $241K.

By value locked, the largest derivatives dApps on Ethereum are Grvt Bridge ($34.0M), Apex Omni ($27.4M) and Orderly Bridge ($25.7M). On DappsAtlas scores, Contango V2 ranks first at 7.5/10, ahead of Orderly Bridge (7.2) and ApeX Pro (7.0). The 33 rated derivatives dApps average 5.8/10, and none scores 8 or above yet.

Many also deploy elsewhere, most often on Arbitrum (22), BNB Chain (17) and Base (15). Of the 32 with a confirmed status, 28 are active and 4 are inactive or wound down. In the past week, total value locked fell 1.0%. Contango V2 gained the most (+138%), while dYdX V3 dropped the most (−27.9%).

Largest by TVL

Highest rated

Method

How we ranked them

Reviewed dApps come first. Each DappsAtlas review scores security, ease of use, fees and features from 0 to 10 using public facts such as audits, documentation and on-chain data; the overall score orders the list, with total value locked as the tie-breaker. Projects we have not reviewed yet follow, ordered by total value locked. Scores are never sold.

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Frequently asked questions

What is the largest derivatives dApp on Ethereum by TVL?

Grvt Bridge is the largest derivatives dApp on Ethereum by total value locked, with $34.0M across all the chains it supports. It is followed by Apex Omni ($27.4M) and Orderly Bridge ($25.7M). TVL figures come from DefiLlama and change daily.

Which derivatives dApp on Ethereum has the highest DappsAtlas score?

Contango V2 has the highest score at 7.5/10, ahead of Orderly Bridge (7.2) and ApeX Pro (7.0). Scores weigh security, ease of use, fees and features, and are based only on facts we could verify.

How many derivatives dApps on Ethereum has DappsAtlas reviewed?

DappsAtlas tracks 48 derivatives dApps on Ethereum. Of these, 48 have a full review and 36 report value locked, $177M in total, counting value on every chain they support.

Which derivatives dApps on Ethereum grew the most this week?

Among derivatives dApps with at least $1M locked, Contango V2 had the biggest 7-day TVL gain (+138%) and dYdX V3 the biggest drop (−27.9%). Combined TVL moved −1.0% over the same seven days.

What is the average score for derivatives dApps on Ethereum?

The 33 rated derivatives dApps on Ethereum average 5.8 out of 10. Of these, 0 score 8 or higher and 9 score below 5.

Ranked list