Logo of Perennial V2

Perennial V2Deprecated protocol

Key Metrics

Cumulative Perp Volume$2.007b
Cumulative Perp Volume by chain

Arbitrum$1.778b

Perennial$229.53m

Protocol Information

Perennial is a decentralized derivatives protocol built from first-principles to be a powerful, flexible, and composable primitive that can scale to meet the needs of DeFi traders, liquidity providers, and developers.

Part of Perennial

Category:Derivatives

Perennial V2 history

TVL is the default DefiLlama definition. Daily values are UTC snapshots from Oct 5, 2023 to Sep 21, 2026.

All-time high TVL: $6.32m on Feb 7, 2024. All-time low TVL: $217,170 on Mar 9, 2026.

Daily TVL, Jun 6, 2026 to Sep 21, 2026

DateTVL
Jun 6, 2026$236,673
Jun 7, 2026$236,710
Jun 8, 2026$236,675
Jun 9, 2026$236,661
Jun 10, 2026$236,706
Jun 11, 2026$236,713
Jun 12, 2026$236,696
Jun 13, 2026$236,716
Jun 14, 2026$236,705
Jun 15, 2026$236,681
Jun 16, 2026$236,707
Jun 17, 2026$236,701
Jun 18, 2026$236,709
Jun 19, 2026$236,744
Jun 20, 2026$236,718
Jun 21, 2026$236,724
Jun 22, 2026$236,721
Jun 23, 2026$0
Jun 24, 2026$0
Jun 25, 2026$0
Jun 26, 2026$0
Jun 27, 2026$0
Jun 28, 2026$0
Jun 29, 2026$0
Jun 30, 2026$0
Sep 17, 2026$0
Sep 18, 2026$0
Sep 19, 2026$0
Sep 20, 2026$0
Sep 21, 2026$0

TVL at each month end, Aug 2024 to Sep 2026

DateTVL
Aug 31, 2024$4.43m
Sep 30, 2024$4.47m
Oct 31, 2024$4.01m
Nov 30, 2024$1.59m
Dec 31, 2024$2.11m
Jan 31, 2025$1.7m
Feb 28, 2025$345,480
Mar 31, 2025$306,787
Apr 30, 2025$300,519
May 31, 2025$245,613
Jun 30, 2025$241,685
Jul 31, 2025$241,040
Aug 31, 2025$239,402
Sep 30, 2025$238,344
Oct 31, 2025$238,224
Nov 30, 2025$237,500
Dec 31, 2025$236,756
Jan 31, 2026$236,683
Feb 28, 2026$236,732
Mar 31, 2026$236,665
Apr 30, 2026$236,704
May 31, 2026$236,669
Jun 30, 2026$0
Sep 21, 2026 (latest)$0

TVL at each year end, Dec 31, 2023 to Dec 31, 2025

DateTVL
Dec 31, 2023$4.64m
Dec 31, 2024$2.11m
Dec 31, 2025$236,756

The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/perennial-v2

Frequently asked questions

What is Perennial V2's TVL?

As of Sep 21, 2026, Perennial V2 has $0 in total value locked.

What chains does Perennial V2 operate on?

Perennial V2 operates on 2 chains: Arbitrum and Perennial.