Key Metrics
Fees 30d$1.92m
Fees 30d by chain
Ink$1.92m
Fees 7d$432,976
Ink$432,976
Fees 24h$70,480
Ink$70,480
Cumulative Fees$22.34m
Ink$22.34m
Revenue 30d$884,724
Revenue 30d by chain
Ink$884,724
Revenue 7d$188,953
Ink$188,953
Revenue 24h$31,835
Ink$31,835
Cumulative Revenue$15.12m
Ink$15.12m
Perp Volume 30d$11.122b
Perp Volume 30d by chain
Ink$11.122b
Perp Volume 7d$2.503b
Ink$2.503b
Perp Volume 24h$408.33m
Ink$408.33m
Cumulative Perp Volume$105.469b
Ink$105.469b
Liquidation Volume 30d$10.23m
Liquidation Volume 30d by chain
Ink$10.23m
Liquidation Volume 7d$4.63m
Ink$4.63m
Liquidation Volume 24h$256,889
Ink$256,889
Cumulative Liquidation Volume$42.78m
Ink$42.78m
Open Interest$38.46m
Protocol Information
Nado is a vertically-integrated decentralized exchange for spot and perpetual futures, featuring an off-chain sequencer and on-chain settlement on Ink. The platform delivers a high-performance CLOB experience where trades execute in milliseconds, with deep liquidity powered in part by the NLP (Nado Liquidity Provider) vault.
Methodology
Fees: perp trading fees paid by usersView code on GitHubRevenue: trading fees minus maker rebates; goes to the protocol treasuryView code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHubLiquidation Volume: Total USD notional of liquidated positions, from the `amountQuote` field of ClearingHouse `Liquidation` events.View code on GitHubNado Perps history
Fees and revenue by UTC calendar month, Nov 2025 to Nov 2026
| Month | Fees | Revenue |
|---|---|---|
| Nov 2025 | $395,502 | $312,265 |
| Dec 2025 | $2.56m | $1.87m |
| Jan 2026 | $3.99m | $3.09m |
| Feb 2026 | $2.71m | $1.88m |
| Mar 2026 | $2.2m | $1.54m |
| Apr 2026 | $1.49m | $1.07m |
| May 2026 | $1.64m | $1.2m |
| Jun 2026 | $1.3m | $854,927 |
| Jul 2026 | $701,687 | $490,736 |
| Aug 2026 | $1.2m | $750,962 |
| Sep 2026 | $1.64m | $877,784 |
| Oct 2026 | $1.87m | $882,998 |
| Nov 2026 (to date) | $665,300 | $301,239 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/nado-perps
Frequently asked questions
What chains does Nado Perps operate on?
Nado Perps operates on Ink.
How much has Nado Perps generated in fees and revenue?
Over the past 30 days, Nado Perps generated $1.92m in fees. Of that, $884,724 was protocol revenue. Based on the trailing year, the annualized rate is $22.85m in fees and $15.46m in revenue.
How does Nado Perps' TVL compare to similar protocols?
Among Derivatives protocols tracked by DefiLlama, Nado Perps ranks #377 by TVL. The category holds $1.774b across 424 protocols, and Nado Perps accounts for 0% of that total. Similar protocols include Jupiter Perpetual Exchange, GMX EVM, Hyperliquid HLP, Lighter Robinhood Perps, Lighter LLP, Extended Perps, dYdX V4, Arcus Perps, AZverse Perps, and Decibel.
How much perpetual futures volume does Nado Perps process?
Nado Perps processed $11.122b in perpetual futures volume over the past 30 days.