Ask about Vest Markets · freeTotal Value Locked$303,721
TVL by Chain
Arbitrum$165,831
Ethereum$113,498
BSC$21,937
OP Mainnet$883.78
Base$712.91
Polygon$602.03
ZKsync Era$256.47
Key Metrics
Fees 30d$30,650
Fees 30d by chain
Off Chain$30,650
Fees 7d$16,434
Off Chain$16,434
Fees 24h$49
Off Chain$49
Cumulative Fees$5.68m
Off Chain$5.68m
Revenue 30d$0
Revenue 30d by chain
Off Chain$0
Revenue 7d$0
Off Chain$0
Revenue 24h$0
Off Chain$0
Cumulative Revenue$0
Off Chain$0
Perp Volume 30d$2.244b
Perp Volume 30d by chain
Off Chain$2.244b
Perp Volume 7d$560.56m
Off Chain$560.56m
Perp Volume 24h$208.64m
Off Chain$208.64m
Cumulative Perp Volume$21.882b
Off Chain$19.459b
Base$2.422b
Open Interest$91.5m
Total Raised$18m
Jan 29, 2023Round: SeedInvestors: Jane Street, QCP Capital, Big Brain Holdings, AscendEX, Builder Capital, Infinity Ventures Crypto, Robert Chen, Pear VC, Cogitent Ventures, Moonshot Research, Fugazi Labs
Mar 11, 2025$5mRound: Investors: Jane Street, Selini Capital, Amber Group, QCP Capital, Big Brain Holdings, Mozaik Capital
Oct 7, 2026$13mRound: SeedInvestors: Portal Ventures
Protocol Information
Vest Exchange is a next generation Perps DEX that ensures the most capital efficient liquidity, and fairest pricing for traders and LPs.
Audits:
Methodology
TVL: Total USDC locked in the Vest Exchange.View code on GitHubFees: Trading Fees paid by perp market tradersView code on GitHubRevenue: No RevenueView code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHubCompetitors
Vest Markets history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Mar 29, 2024 to Oct 22, 2026.
All-time high TVL: $31.05m on Oct 17, 2025. All-time low TVL: $62,283 on Aug 2, 2026.
Daily TVL, Sep 23, 2026 to Oct 22, 2026
| Date | TVL |
|---|---|
| Sep 23, 2026 | $172,838 |
| Sep 24, 2026 | $229,863 |
| Sep 25, 2026 | $132,484 |
| Sep 26, 2026 | $143,059 |
| Sep 27, 2026 | $130,057 |
| Sep 28, 2026 | $136,844 |
| Sep 29, 2026 | $188,515 |
| Sep 30, 2026 | $170,489 |
| Oct 1, 2026 | $181,514 |
| Oct 2, 2026 | $256,775 |
| Oct 3, 2026 | $250,820 |
| Oct 4, 2026 | $248,279 |
| Oct 5, 2026 | $226,556 |
| Oct 6, 2026 | $195,908 |
| Oct 7, 2026 | $257,632 |
| Oct 8, 2026 | $260,472 |
| Oct 9, 2026 | $297,518 |
| Oct 10, 2026 | $263,163 |
| Oct 11, 2026 | $155,191 |
| Oct 12, 2026 | $82,915 |
| Oct 13, 2026 | $207,672 |
| Oct 14, 2026 | $217,165 |
| Oct 15, 2026 | $321,609 |
| Oct 16, 2026 | $348,491 |
| Oct 17, 2026 | $339,942 |
| Oct 18, 2026 | $352,395 |
| Oct 19, 2026 | $320,946 |
| Oct 20, 2026 | $309,070 |
| Oct 21, 2026 | $311,367 |
| Oct 22, 2026 | $303,718 |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $1.52m |
| Dec 31, 2024 | $1.37m |
| Jan 31, 2025 | $2.44m |
| Feb 28, 2025 | $2.45m |
| Mar 31, 2025 | $1.49m |
| Apr 30, 2025 | $1.74m |
| May 31, 2025 | $1.83m |
| Jun 30, 2025 | $1.96m |
| Jul 31, 2025 | $1.93m |
| Aug 31, 2025 | $1.96m |
| Sep 30, 2025 | $14.88m |
| Oct 31, 2025 | $23.58m |
| Nov 30, 2025 | $11.6m |
| Dec 31, 2025 | $7.21m |
| Jan 31, 2026 | $6.19m |
| Feb 28, 2026 | $4.73m |
| Mar 31, 2026 | $3.26m |
| Apr 30, 2026 | $2.1m |
| May 31, 2026 | $1.53m |
| Jun 30, 2026 | $632,970 |
| Jul 31, 2026 | $169,046 |
| Aug 31, 2026 | $222,798 |
| Sep 30, 2026 | $170,489 |
| Oct 22, 2026 (latest) | $303,718 |
TVL at each year end, Dec 31, 2024 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2024 | $1.37m |
| Dec 31, 2025 | $7.21m |
Fees and revenue by UTC calendar month, Jul 2025 to Oct 2026
| Month | Fees | Revenue |
|---|---|---|
| Jul 2025 | $1,720 | $0 |
| Aug 2025 | $1.53m | $0 |
| Sep 2025 | $1.24m | $0 |
| Oct 2025 | $1.31m | $0 |
| Nov 2025 | $717,042 | $0 |
| Dec 2025 | $216,873 | $0 |
| Jan 2026 | $149,028 | $0 |
| Feb 2026 | $54,598 | $0 |
| Mar 2026 | $28,422 | $0 |
| Apr 2026 | $40,503 | $0 |
| May 2026 | $50,657 | $0 |
| Jun 2026 | $117,117 | $0 |
| Jul 2026 | $101,080 | $0 |
| Aug 2026 | $62,423 | $0 |
| Sep 2026 | $39,837 | $0 |
| Oct 2026 (to date) | $22,428 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/vest-markets
Frequently asked questions
What is Vest Markets' TVL?
As of Oct 22, 2026, Vest Markets has $303,721 in total value locked. TVL has increased 97.4% over the past 30 days.
What chains does Vest Markets operate on?
Vest Markets operates on 8 chains: Arbitrum, Ethereum, BSC, OP Mainnet, and Base and 3 others. Arbitrum holds the largest share at 54.6%.
How much has Vest Markets generated in fees and revenue?
Over the past 30 days, Vest Markets generated $30,650 in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $2.15m in fees.
How does Vest Markets' TVL compare to similar protocols?
Among Derivatives protocols tracked by DefiLlama, Vest Markets ranks #71 by TVL. The category holds $2.013b across 424 protocols, and Vest Markets accounts for <0.1% of that total. Similar protocols include Contango V2, Lynx, Everstrike, RubyDex, ApeX Pro, UniDex Perp, Defx, Satori Perp, Apex Omni, and Aevo Perps.
How much perpetual futures volume does Vest Markets process?
Vest Markets processed $2.244b in perpetual futures volume over the past 30 days.