Cardinal

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@cardinal_labs

Farm 7+ digit yield using $BTC price action. Powered by @DeriveXYZ.

Mercatus nobis sunt.

Join the order: discord.gg/cardinal-labs

New York cardinal.trading Joined December 2024

32 Following 519 Followers 137 Posts

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Cardinal @cardinal_labs 2d

The results are in: traders love Yield Perps.

Two weeks, $257B in volume, and a clear path to mainnet. Here's the Cardinal testnet competition recap.

📜: blog.cardinal.trading/cardinal-compe…

TL;DR below 🧵🔻

Cardinal @cardinal_labs 22h

Season 2?

Cardinal @cardinal_labs 2d

Yield Perps have no liquidations.

I bet that's looking pretty good right now.

Cardinal @cardinal_labs 2d

Traders. 👏 Love. 👏 Cardinal. 👏

brokeasspepe Verified account @brokeasspepe 2d

extremely fun product
dopamine hits like crazy

didn't make it to top3 unfortunately, but still made top4 for early main net access

kudos to the team 👏
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Cardinal @cardinal_labs 2d

The perp DEX went from DeFi summer fantasy to trillion-dollar reality.

Cardinal is building the markets that come next.

Dami-Defi Verified account @DamiDefi 2d

October 2026 perp DEX volumes reached approximately $659 billion, up 6% month over month.

Here are the leading platforms by reported trading volume:

Hyperliquid: $229B
Variational: $78B
Lighter: $73B
Aster: $49B
edgeX: $20B
GRVT: $15B
Arcus: $12B
ApeX Omni: $12B

Key takeaways:

• Hyperliquid maintained its dominance with approximately 35% market share.
• Variational overtook Lighter to secure second place.
• Lighter recorded $73B, keeping it close to the second-place platform.
• The top three generated approximately $380B combined.

Perp DEX trading was one of the few major crypto market segments to grow in October.

The competition for derivatives market share is heating up.

Data: CryptoRank

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