Logo of Drake ExchangeDrake Exchange
Total Value Locked$216,251.74

TVL by Chain

Monad$216,251.74

Key Metrics

Fees 30d$3,763.41
Fees 30d by chain

Monad$3,763.41

Fees 7d$2,666.23

Monad$2,666.23

Fees 24h$427

Monad$427

Cumulative Fees$5,234.91

Monad$5,234.91

Revenue 30d$2,177.95
Revenue 30d by chain

Monad$2,177.95

Revenue 7d$1,650.99

Monad$1,650.99

Revenue 24h$275

Monad$275

Cumulative Revenue$2,799.39

Monad$2,799.39

Perp Volume 30d$6.73m
Perp Volume 30d by chain

Monad$6.73m

Perp Volume 7d$4.81m

Monad$4.81m

Perp Volume 24h$728,566

Monad$728,566

Cumulative Perp Volume$9.15m

Monad$9.15m

$57,986

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.

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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: Share of trade commission fees routed to the Operation Vault (treasury) per the orderbook and AMM splits in effect at that block.View code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHub

Competitors

Perpl ($4.05m)LeverUp ($2.66m)Monday Trade Perps ($579,958.27)Pingu Exchange ($23,964.43)Narwhal Finance ($1,268.76)OBSDN ($6.05)Jupiter Perpetual Exchange ($739.23m)GMX V2 Perps ($203.26m)Hyperliquid HLP ($186.71m)Derive V2 ($153.85m)

Frequently Asked Questions

What is Drake Exchange's TVL?

Drake Exchange currently has $216,251.74 in total value locked. TVL has increased 168.4% 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 $3,763.41 in fees. Of that, $2,177.95 was protocol revenue. Based on the trailing year, the annualized rate is $29,248.12 in fees and $15,356.71 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 $2.03b across 424 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, Hyperliquid HLP, and Derive V2.

How much perpetual futures volume does Drake Exchange process?

Drake Exchange processed $6.73m in perpetual futures volume over the past 30 days.