Ask about Drake Exchange

Logo of Drake ExchangeDrake Exchange

Total Value Locked$199,620

TVL by Chain

Monad$199,620

Key Metrics

Fees 30d$39,031
Fees 30d by chain

Monad$39,031

Fees 7d$18,865

Monad$18,865

Fees 24h$4,884

Monad$4,884

Cumulative Fees$45,999

Monad$45,999

Revenue 30d$27,454
Revenue 30d by chain

Monad$27,454

Revenue 7d$13,005

Monad$13,005

Revenue 24h$3,013

Monad$3,013

Cumulative Revenue$31,312

Monad$31,312

Perp Volume 30d$70.95m
Perp Volume 30d by chain

Monad$70.95m

Perp Volume 7d$34.33m

Monad$34.33m

Perp Volume 24h$9.53m

Monad$9.53m

Cumulative Perp Volume$83.99m

Monad$83.99m

$12,097

Total Raised$1m

Sep 29, 2025$1mRound: SeedInvestors: CMS

Protocol Information

Fully on-chain perpetual exchange on Monad with hybrid CLOB + AMM liquidity and isolated/cross-margin portfolios.

WebsiteGitHubX/Twitter
Category:Derivatives

Methodology

TVL: Sums AUSD held in every isolated and cross margin Portfolio contract (enumerated via PortfolioFactory.getPortfolioById) plus AUSD held in the liquidity vault.View code on GitHubFees: All trading commission fees (orderbook + AMM), isolated margin add/reduce fees, and net borrowing/imbalance funding fees charged to traders.View code on GitHubRevenue: Actual trading commission transferred to the operation recipient (treasury), matched from the AUSD transfers immediately before each commission event.View code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHub

Competitors

Perpl ($3.82m)LeverUp ($3.14m)Monday Trade Perps ($580,053)Pingu Exchange ($24,632)Narwhal Finance ($1,269)OBSDN ($6.05)Jupiter Perpetual Exchange ($811.12m)GMX V2 Perps ($212.66m)Derive V2 ($186.53m)Hyperliquid HLP ($182.83m)

Frequently Asked Questions

What is Drake Exchange's TVL?

Drake Exchange currently has $199,620 in total value locked. TVL has increased 130.3% over the past 30 days.

What chains does Drake Exchange operate on?

Drake Exchange operates on Monad. Monad holds the largest share at 100%.

How much has Drake Exchange generated in fees and revenue?

Over the past 30 days, Drake Exchange generated $39,031 in fees. Of that, $27,454 was protocol revenue. Based on the trailing year, the annualized rate is $183,013 in fees and $125,966 in revenue.

How does Drake Exchange's TVL compare to similar protocols?

Among Derivatives protocols tracked by DefiLlama, Drake Exchange ranks #85 by TVL. The category holds $2.191b across 419 protocols, and Drake Exchange accounts for <0.1% of that total. Other leading protocols include Perpl, LeverUp, Monday Trade Perps, Pingu Exchange, Narwhal Finance, OBSDN, Jupiter Perpetual Exchange, GMX V2 Perps, Derive V2, and Hyperliquid HLP.

How much perpetual futures volume does Drake Exchange process?

Drake Exchange processed $70.95m in perpetual futures volume over the past 30 days.