Total Value Locked$7.47m
TVL by Chain
Ethereum$7.47m
Key Metrics
Cumulative Fees$34.43m
Cumulative Fees by chain
Ethereum$34.43m
Cumulative Revenue$34.43m
Cumulative Revenue by chain
Ethereum$34.43m
Cumulative Perp Volume$1.211t
Cumulative Perp Volume by chain
Ethereum$1.211t
Total Raised$87m
Dec 19, 2017$2mRound: SeedInvestors: 1Confirmation, a16z, Abstract Ventures, Avichal Garg, Brian Armstrong, Caffeinated Capital, Christopher Golda, David King, Elad Gil, Fred Ehrsam, Jack Herrick, Kindred Ventures, Polychain, Scott Belsky
Oct 19, 2018$10mRound: Series AInvestors: 1Confirmation, a16z crypto, Abstract Ventures, Bain Capital Crypto, Dragonfly Capital, Craft Ventures, Kindred Ventures, Naval Ravikant, Polychain, VY Capital
Jan 26, 2021$10mRound: Series BInvestors: a16z, DeFiance Capital, GSR, Hashed, Polychain Capital, RockTree Capital, Scalar Capital, The Spartan Group, 3AC, Wintermute Trading
Jun 15, 2021$65mRound: Series C
Protocol Information
The most powerful open trading platform for crypto assets. Margin trade, borrow, and lend cryptocurrency.
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: Fees paid by usersView code on GitHubRevenue: Treasury and token holders revenueView code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHubHacks
Date: Nov 18, 2023
Amount: $9m
Classification: Market Manipulation
Technique: Risk Parameter Abuse
On November 17-18, 2023, dYdX V3's insurance fund lost $9M via coordinated market manipulation in less-liquid SUSHI and YFI markets. The attacker built leveraged positions on dYdX, orchestrated spot market price surges, and triggered a liquidation cascade worth $38M notional to drain the insurance fund.
Chains: Ethereum
Target Type: DeFi Protocol
Date: Jul 23, 2024
Amount: $31,000
Classification: Frontend & Infrastructure
Technique: DNS Hijack
On July 23, 2024, the dYdX domain (dydx.exchange) was compromised when attackers changed DNS nameservers via a compromised Squarespace account. Two users lost approximately $31,000 when redirected to a malicious contract attempting to steal their tokens. The site was restored within three hours and the domain was transferred to Cloudflare.
Chains: Ethereum
Target Type: DeFi Protocol
Competitors
dYdX V3 history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Nov 9, 2020 to Nov 2, 2026.
All-time high TVL: $1.123b on Oct 29, 2021. All-time low TVL: $8.23m on Nov 2, 2026.
Daily TVL, Oct 4, 2026 to Nov 2, 2026
| Date | TVL |
|---|---|
| Oct 4, 2026 | $38.39m |
| Oct 5, 2026 | $38.44m |
| Oct 6, 2026 | $38.41m |
| Oct 7, 2026 | $38.37m |
| Oct 8, 2026 | $38.09m |
| Oct 9, 2026 | $37.94m |
| Oct 10, 2026 | $37.89m |
| Oct 11, 2026 | $37.89m |
| Oct 12, 2026 | $37.95m |
| Oct 13, 2026 | $37.78m |
| Oct 14, 2026 | $37.89m |
| Oct 15, 2026 | $37.49m |
| Oct 16, 2026 | $31.08m |
| Oct 17, 2026 | $31.05m |
| Oct 18, 2026 | $31.02m |
| Oct 19, 2026 | $30.99m |
| Oct 20, 2026 | $30.92m |
| Oct 21, 2026 | $30.73m |
| Oct 22, 2026 | $15.55m |
| Oct 23, 2026 | $12.61m |
| Oct 24, 2026 | $11.61m |
| Oct 25, 2026 | $11.53m |
| Oct 26, 2026 | $11.29m |
| Oct 27, 2026 | $11.27m |
| Oct 28, 2026 | $9.89m |
| Oct 29, 2026 | $9.89m |
| Oct 30, 2026 | $9.68m |
| Oct 31, 2026 | $9.72m |
| Nov 1, 2026 | $9.74m |
| Nov 2, 2026 | $8.23m |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| Dec 31, 2024 | $42.97m |
| Jan 31, 2025 | $42.16m |
| Feb 28, 2025 | $40.41m |
| Mar 31, 2025 | $39.35m |
| Apr 30, 2025 | $39.26m |
| May 31, 2025 | $40.46m |
| Jun 30, 2025 | $40.55m |
| Jul 31, 2025 | $42.67m |
| Aug 31, 2025 | $43.47m |
| Sep 30, 2025 | $43.1m |
| Oct 31, 2025 | $42.39m |
| Nov 30, 2025 | $40.8m |
| Dec 31, 2025 | $41.11m |
| Jan 31, 2026 | $40.64m |
| Feb 28, 2026 | $39.2m |
| Mar 31, 2026 | $39.36m |
| Apr 30, 2026 | $39.71m |
| May 31, 2026 | $39.16m |
| Jun 30, 2026 | $37.35m |
| Jul 31, 2026 | $37.88m |
| Aug 31, 2026 | $38.7m |
| Sep 30, 2026 | $38.91m |
| Oct 31, 2026 | $9.72m |
| Nov 2, 2026 (latest) | $8.23m |
TVL at each year end, Dec 31, 2020 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2020 | $61.2m |
| Dec 31, 2021 | $1.007b |
| Dec 31, 2022 | $395.24m |
| Dec 31, 2023 | $347.57m |
| Dec 31, 2024 | $42.97m |
| Dec 31, 2025 | $41.11m |
Fees and revenue by UTC calendar month, Nov 2023 to Oct 2024
| Month | Fees | Revenue |
|---|---|---|
| Nov 2023 | $2.65m | $2.65m |
| Dec 2023 | $7.24m | $7.24m |
| Jan 2024 | $5.11m | $5.11m |
| Feb 2024 | $3.3m | $3.3m |
| Mar 2024 | $4.93m | $4.93m |
| Apr 2024 | $3.5m | $3.5m |
| May 2024 | $2.35m | $2.35m |
| Jun 2024 | $1.51m | $1.51m |
| Jul 2024 | $1.58m | $1.58m |
| Aug 2024 | $1.26m | $1.26m |
| Sep 2024 | $670,288 | $670,288 |
| Oct 2024 | $328,724 | $328,724 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/dydx-v3
Frequently asked questions
What is dYdX V3's TVL?
As of Nov 2, 2026, dYdX V3 has $7.47m in total value locked. TVL has decreased 80.5% over the past 30 days.
What chains does dYdX V3 operate on?
dYdX V3 operates on Ethereum. Ethereum holds the largest share at 100%.
How does dYdX V3's TVL compare to similar protocols?
Among Derivatives protocols tracked by DefiLlama, dYdX V3 ranks #22 by TVL. The category holds $1.864b across 422 protocols, and dYdX V3 accounts for 0.4% of that total. Similar protocols include Extended Perps, AZverse Perps, Apex Omni, Aevo Perps, Contango V2, Hakka Finance, AlphaX, Strike Finance Perpetuals, ApeX Pro, and Synthetix V4.
Has dYdX V3 ever been exploited?
dYdX V3 has 2 recorded security incidents. The most recent incident occurred on Jul 23, 2024 and involved $31,000. It was classified as Frontend & Infrastructure.