Total Value Locked$585,070
TVL by Chain
Ethereum$585,070
Key Metrics
Perp Volume 30d$638.6m
Perp Volume 30d by chain
Ethereum$638.6m
Perp Volume 7d$63.39m
Ethereum$63.39m
Perp Volume 24h$20.47m
Ethereum$20.47m
Cumulative Perp Volume$38.786b
Ethereum$38.786b
Open Interest$12.88m
Protocol Information
Rho Protocol is a cryptonative interest rates market. The platform uniquely offers trading of staking, lending, and perpetual future funding rates all in one venue, as well as allowing users to passively earn yield by depositing into Rho's vaults
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHubCompetitors
Rho X history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Sep 23, 2025 to Oct 20, 2026.
All-time high TVL: $1.57m on May 10, 2026. All-time low TVL: $198,611 on Sep 23, 2025.
Daily TVL, Sep 21, 2026 to Oct 20, 2026
| Date | TVL |
|---|---|
| Sep 21, 2026 | $711,372 |
| Sep 22, 2026 | $737,781 |
| Sep 23, 2026 | $737,590 |
| Sep 24, 2026 | $736,979 |
| Sep 25, 2026 | $731,919 |
| Sep 26, 2026 | $731,471 |
| Sep 27, 2026 | $731,434 |
| Sep 28, 2026 | $731,230 |
| Sep 29, 2026 | $696,729 |
| Sep 30, 2026 | $697,567 |
| Oct 1, 2026 | $689,884 |
| Oct 2, 2026 | $691,186 |
| Oct 3, 2026 | $691,161 |
| Oct 4, 2026 | $692,120 |
| Oct 5, 2026 | $692,226 |
| Oct 6, 2026 | $657,461 |
| Oct 7, 2026 | $582,292 |
| Oct 8, 2026 | $581,558 |
| Oct 9, 2026 | $580,515 |
| Oct 10, 2026 | $580,695 |
| Oct 11, 2026 | $580,627 |
| Oct 12, 2026 | $580,724 |
| Oct 13, 2026 | $586,704 |
| Oct 14, 2026 | $587,000 |
| Oct 15, 2026 | $586,286 |
| Oct 16, 2026 | $586,314 |
| Oct 17, 2026 | $586,309 |
| Oct 18, 2026 | $586,274 |
| Oct 19, 2026 | $586,173 |
| Oct 20, 2026 | $584,884 |
TVL at each month end, Sep 2025 to Oct 2026
| Date | TVL |
|---|---|
| Sep 30, 2025 | $393,284 |
| Oct 31, 2025 | $592,912 |
| Nov 30, 2025 | $649,212 |
| Dec 31, 2025 | $857,763 |
| Jan 31, 2026 | $772,877 |
| Feb 28, 2026 | $1.23m |
| Mar 31, 2026 | $1.38m |
| Apr 30, 2026 | $1.39m |
| May 31, 2026 | $1.33m |
| Jun 30, 2026 | $1.26m |
| Jul 31, 2026 | $1.09m |
| Aug 31, 2026 | $1.03m |
| Sep 30, 2026 | $697,567 |
| Oct 20, 2026 (latest) | $584,884 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/rho-x
Frequently asked questions
What is Rho X's TVL?
As of Oct 20, 2026, Rho X has $585,070 in total value locked. TVL has decreased 17.8% over the past 30 days.
What chains does Rho X operate on?
Rho X operates on Ethereum. Ethereum holds the largest share at 100%.
How does Rho X's TVL compare to similar protocols?
Among Interest Rate Derivatives protocols tracked by DefiLlama, Rho X ranks #2 by TVL. The category holds $8.2m across 3 protocols, and Rho X accounts for 7.1% of that total. Similar protocols include PARE and Boros.
How much perpetual futures volume does Rho X process?
Rho X processed $638.6m in perpetual futures volume over the past 30 days.