This dashboard shows the best place to trade any asset

Welcome to the DefiLlama Newsletter. DefiLlama maintains the deepest DeFi dataset in the world, and now we’re bringing you the most valuable onchain insights each week.

The new DefiLlama Markets page is designed to help you find which categories and tokens are moving, which ones have momentum, and where each asset can be traded.

The unified dashboard merges spot & perpetual market data and includes top-line metrics, top movers, 30d trends, category breakdowns and trading fees for each venue.

The dashboard helps us answer a few simple yet important questions:

In spot markets: Bridge, Derivatives, LSTs are the top gaining categories.

Digging deeper into the Derivatives category, HYPE is the 24h spot price leader, with a large increase in volume and rising Sentiment (volume up, OI up). INJ & ASTER Sentiment is also rising.

Hyperliquid is the beneficiary of successful SPCX Pre-IPO trading. The SPCX equity perp through trade[XYZ] is dominating volume, up 400% in the last 24 hours. The stock is up 20% today, and Hyperliquid is the primary venue for trading outside tradfi hours.

The dashboard shows HYPE can be traded at up to 125x leverage and is available at 43 venues. Let’s take a look:

Through 46 available pairs, Binance leads 24h volume, while Hyperliquid leads Open Interest. Bingx & Extended show the lowest 8h funding rates, while MEXC has 100x leverage and 0% taker fees.

Infrastructure leads Linear Perps in price, while CDPs & Indexes are seeing volume spikes over the last 24 hours.

LSTs are also a top mover. Zooming in, JTO is leading the pack in price and volume, with negative funding.

Binance leads volume, Bitmart leads Open Interest. Funding is negative on most venues. Hyperliquid offers a lower taker fee, but funding is positive and max leverage is limited to 5x. For those looking for increased exposure and negative funding, a CEX appears to be the optimal choice.

One of the main considerations when buying or selling assets is “what will this cost in fees?”

Two ways to find this for nearly any asset available for trading.

Of course, there are other considerations: A trade is not taken on a certain exchange because of fees alone. Liquidity depth, OI concentration, and native order-book architecture must be taken into account.

Any exchanges competitive advantage is not fees: it is liquidity depth, OI concentration, and native order-book architecture.

Market & Asset pages offer this depth.

Schedule a call with our (human) analyst team at DefiLlama Research for more market insights and to explore our market intelligence tools.

How Variational is approaching a brokerage-style model that connects traders to liquidity through RFQs, internal market making, and isolated onchain settlement

Trusted by leading onchain businesses, LlamaPay handles salaries, easy payments and token vesting.

LP rates are elevated this week, with cbBTC, wETH and SOL pools yielding 70% or higher. Elevated trading volumes are finding their way into additional fees for LPers.

For a stablecoin depositor, Pendle PT pools offer the highest yields, but the nature of PT pools mean depositors are locked in until maturity.

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