Ask about Cardboard Trade · freeCardboard Trade
Total Value Locked$1.8m
TVL by Chain
Solana$1.8m
Key Metrics
Fees 30d$230,386
Fees 30d by chain
Solana$230,386
Fees 7d$230,386
Solana$230,386
Fees 24h$132,472
Solana$132,472
Cumulative Fees$362,858
Solana$362,858
Revenue 30d$230,386
Revenue 30d by chain
Solana$230,386
Revenue 7d$230,386
Solana$230,386
Revenue 24h$132,472
Solana$132,472
Cumulative Revenue$362,858
Solana$362,858
Holders Revenue 30d$115,189
Holders Revenue 30d by chain
Solana$115,189
Holders Revenue 7d$115,189
Solana$115,189
Holders Revenue 24h$66,237
Solana$66,237
Cumulative Holders Revenue$181,426
Solana$181,426
Collateral Liquidated 30d$929,839
Collateral Liquidated 30d by chain
Solana$929,839
Collateral Liquidated 7d$929,839
Solana$929,839
Collateral Liquidated 24h$300,851
Solana$300,851
Cumulative Collateral Liquidated$1.23m
Solana$1.23m
Protocol Information
Leveraged trading protocol on Solana offering leverage up to 1000x.
Methodology
TVL: TVL is the USDC held by the Cardboard program: house LP funds, trader margin and balances, and fees not yet withdrawn.View code on GitHubFees: Fees charged when positions settle: a 0.5 basis point close charge on the order value plus the market fee (currently 2%) on the gain of winning trades and on the loss of losing and liquidated trades. Opening a position is free and there are no funding payments.View code on GitHubRevenue: All settlement fees, split between the protocol and CARDBOARD stakers.View code on GitHubHolders Revenue: Half of settlement fees, distributed in USDC to CARDBOARD stakers. Referral bonuses are paid from the same budget and are not separated.View code on GitHubCollateral Liquidated: USDC margin forfeited by liquidated positions, including closes that executed at or past the bust price, which are settled as liquidations: a liquidation takes the whole isolated margin of the position.View code on GitHubUser Activity
Active Addresses (24h)318
New Addresses (24h)71
Competitors
Cardboard Trade history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Oct 17, 2026 to Oct 19, 2026.
All-time high TVL: $1.58m on Oct 19, 2026. All-time low TVL: $1.17m on Oct 17, 2026.
Daily TVL, Oct 17, 2026 to Oct 19, 2026
| Date | TVL |
|---|---|
| Oct 17, 2026 | $1.17m |
| Oct 18, 2026 | $1.44m |
| Oct 19, 2026 | $1.58m |
TVL at each month end, Oct 2026 to Oct 2026
| Date | TVL |
|---|---|
| Oct 19, 2026 (latest) | $1.58m |
Fees, revenue and holders revenue by UTC calendar month, Oct 2026 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Oct 2026 (to date) | $362,858 | $362,858 | $181,426 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/cardboard-trade
Frequently asked questions
What is Cardboard Trade's TVL?
As of Oct 19, 2026, Cardboard Trade has $1.8m in total value locked.
What chains does Cardboard Trade operate on?
Cardboard Trade operates on Solana. Solana holds the largest share at 100%.
How much has Cardboard Trade generated in fees and revenue?
Over the past 30 days, Cardboard Trade generated $230,386 in fees. Of that, $230,386 was protocol revenue. Based on the trailing year, the annualized rate is $21.02m in fees and $21.02m in revenue.
How does Cardboard Trade's TVL compare to similar protocols?
Among Derivatives protocols tracked by DefiLlama, Cardboard Trade ranks #44 by TVL. The category holds $1.962b across 423 protocols, and Cardboard Trade accounts for 0.1% of that total. Other leading protocols include Jupiter Perpetual Exchange, GMX Solana, Phoenix Perp, BULK, TurboFlow Perps, Bumpin Trade, Parcl V3, Drift Trade, Lavarage, and Wasabi Perps.