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Tristero Margin

Total Value Locked$98,940

TVL by Chain

Ethereum$97,873

Arbitrum$605.17

Base$461.58

Key Metrics

Open Interest$9,751

Active Loans$39,071

Protocol Information

Tristero Margin is a margin trading platform that allows users to trade with leverage.

WebsiteX/Twitter
Category:Derivatives

Audits:

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Methodology

TVL: Counts the tokens locked in the contracts to be used as collateral to borrow or to earn yield. Borrowed coins are not counted towards the TVL, so only the coins actually locked in the contracts are counted. There's multiple reasons behind this but one of the main ones is to avoid inflating the TVL through cycled lending. Tristero TVL counts the base asset collateral locked in active margin escrows and v3 margin vault deposits. Borrowed exports outstanding legacy position debt plus v3 vault assets lent out, calculated as getTVOL() minus idle vault balance.View code on GitHub

Yields

Pools Tracked2

Average Supply APY7.8%

Competitors

Apex Omni ($27.01m)Aevo Perps ($14.83m)Contango V2 ($6.3m)IPOR Derivatives ($473,856)Derive V2 ($295,138)Vest Markets ($252,279)Lynx ($153,005)Defx ($13,763)Primex Finance ($11,329)Satori Perp ($8,644)

Tristero Margin history

TVL is the default DefiLlama definition, which excludes Active Loans. Daily values are UTC snapshots from Apr 9, 2026 to Nov 10, 2026.

All-time high TVL: $99,874 on Oct 19, 2026. All-time low TVL: $42 on Jun 26, 2026.

Daily TVL, Oct 12, 2026 to Nov 10, 2026

DateTVL
Oct 12, 2026$19,948
Oct 13, 2026$99,853
Oct 14, 2026$99,861
Oct 15, 2026$99,856
Oct 16, 2026$99,833
Oct 17, 2026$99,858
Oct 18, 2026$99,870
Oct 19, 2026$99,874
Oct 20, 2026$99,852
Oct 21, 2026$99,530
Oct 22, 2026$98,941
Oct 23, 2026$98,907
Oct 24, 2026$98,916
Oct 25, 2026$98,927
Oct 26, 2026$98,908
Oct 27, 2026$98,881
Oct 28, 2026$98,865
Oct 29, 2026$98,896
Oct 30, 2026$98,798
Oct 31, 2026$98,937
Nov 1, 2026$98,961
Nov 2, 2026$98,932
Nov 3, 2026$98,883
Nov 4, 2026$98,919
Nov 5, 2026$98,957
Nov 6, 2026$98,914
Nov 7, 2026$98,940
Nov 8, 2026$98,912
Nov 9, 2026$98,926
Nov 10, 2026$98,899

TVL at each month end, Apr 2026 to Nov 2026

DateTVL
Apr 30, 2026$983
May 31, 2026$407
Jun 30, 2026$43
Jul 31, 2026$39,388
Aug 31, 2026$28,014
Sep 30, 2026$19,936
Oct 31, 2026$98,937
Nov 10, 2026 (latest)$98,899

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

Frequently asked questions

What is Tristero Margin's TVL?

As of Nov 10, 2026, Tristero Margin has $98,940 in total value locked. TVL has increased 396% over the past 30 days.

What chains does Tristero Margin operate on?

Tristero Margin operates on 3 chains: Ethereum, Arbitrum, and Base. Ethereum holds the largest share at 98.9%.

How does Tristero Margin's TVL compare to similar protocols?

Among Derivatives protocols tracked by DefiLlama, Tristero Margin ranks #98 by TVL. The category holds $1.796b across 422 protocols, and Tristero Margin accounts for <0.1% of that total. Similar protocols include Apex Omni, Aevo Perps, Contango V2, IPOR Derivatives, Derive V2, Vest Markets, Lynx, Defx, Primex Finance, and Satori Perp.

How much has been borrowed through Tristero Margin?

As of Nov 10, 2026, Tristero Margin has $39,071 in active loans.