谁是下一个百亿黑马？14 个 Perp DEX 全面 PK

比推Publicado a 2025-09-26Actualizado a 2025-09-26

作者：Biteye 核心贡献者 Viee

编辑：Biteye 核心贡献者 Denise

我们从特色、参与方式、资本系等六个维度，把 Defillama 交易量靠前的 Perp DEX 做系统对比。

按照热度S+、S、A进行分级，快速掌握每个项目的核心打法。????

01、概览

币安系（Aster、StandX）、Amber系（edgeX）、Paradigm系（Paradex）、Solana系（BULK/Backpack/Jupiter/Drift）、Base系（Avantis）…… 各有版图。

Hyperliquid 仍是龙头，但新玩家正用积分、APY来分食市场。

对散户而言：未TGE的项目可以选几个交互刷积分，已TGE的项目需结合市值和趋势，最好买在右侧。

02、热度S+级别

1.@HyperliquidX， $HYPER

特色：Hyperliquid 毫无疑问是当前PerpDEX龙头，自研L1 + 全链上CLOB，是流动性与交易深度龙头。比如 HyperEVM 支撑了低于1秒的成交延迟和顶级深度。

参与机会：Hyperliquid团队将 HYPE 的约31%空投给早期用户，成为史上最大空投之一。更重要的是，近40%供应留作后续社区奖励。错过首轮空投的用户，可以考虑通过增加交易量、质押流动性等方式争取后续机会。

2.@Aster_DEX， $ASTER

特色：Aster 是币安阵营力推的PerpDEX， $ASTER首周价格暴涨20倍了。平台具备简易一键/网格，最高1001倍杠杆，是BNB链流量入口。

参与机会：目前主要机会在于交易，通过交易比赛获得第二期空投。

3.@Backpack，还未TGE

特色：Backpack 强调合规和安全，引入KYC机制确保用户真实性，甚至有些类似CeFi交易所的运营风格。

参与机会：交易积分计划奖励活跃用户，据说第三赛季上线后，交易量权重有所提高。

4.@edgeX_exchange，还未TGE

特色：edgeX 是Amber Group孵化，采用 StarkEx ZK-Rollup 技术。edgeX 同时提供精心打磨用户体验：集成 MPC钱包降低私钥管理门槛等功能，接近CEX平台体验。

参与机会：交易，每周积分的权重 = 交易量 + 活跃度，最低 10U 即可参与。

5.@Lighter_xyz，还未TGE

特色：Lighter 当前仍处于受邀制私测阶段，通过构建兼容EVM的专属网络（基于Starknet），既保证隐私又确保高效低成本，LLP 做市金库 APY 也比较高，约63%。注意，APY 需要一定积分才能全部解锁。

参与机会：针对受邀用户推出了积分奖励计划，每笔交易都会累积积分，关系到未来空投。

6.@avantisfi， $AVNT

特色：提供高达500倍杠杆，支持加密货币、外汇、黄金、原油等多元市场交易。

参与机会：目前持有AVNT的用户可通过质押代币分享平台收益，年化高达23%左右。

03、热度S级别

7.@tradeparadex，还未TGE

特色：Paradex 构建于以太坊Layer2 Starknet，实现了永续合约+永续期权+现货统一账户的机制。Paradex 还采用零手续费策略，鼓励交易量增长。

参与机会：XP 季度制，持仓、交易、做市都有积分。

8.@OrderlyNetwork， $ORDER

特色：构建高性能订单簿基础设施，已被众多钱包和DEX集成，成为一层“后台撮合引擎”，一键搭建前端。

参与机会：持有ORDER进行质押可获得交易手续费分红，实现类似股息的被动收益。

9.@BasedOneX，还未TGE

特色：相当于Hyperliquid 前端，经销商模式，为 Hyperliquid 构建一个全渠道交易平台

参与机会：生态空投、交易比赛。

10.@StandX_Official，还未TGE

特色：前币安期货团队核心成员开发，已推出DUSD自动生息稳定币，提供“一边交易一边挖矿”的收益型保证金。目前PerpDex功能在内测中，平台不依赖VC，自有资金运营。

参与机会：PerpDex功能内测中，可以申请加入waitlist。目前有预存款活动。

11. @_bulktrade，还未TGE

特色：Solana 原生，极致撮合速度。BULK将撮合引擎嵌入验证节点，当用户发一个订单，不需要走 Solana 普通的“交易队列”，而是直接进入验证者节点内置的 Bulk-Tile 模块。这样，撮合可以在 20ms 内完成匹配，并在 40ms 内确认终结。

参与机会：主网未上线，目前可进行测试网交互。

04、热度A级别

12.@reya_xyz，还未TGE

特色：模块化衍生品，以及保证金引擎逻辑，用户拥有一个可以在多个交易所使用的保证金账户。

参与机会：采用积分系统奖励用户，交易、质押USDC，每周结算排行。

13.@DriftProtocol， $DRIFT

特色：Drift 是 Solana 上最早的永续合约DEX之一，引入收益生息保证金，用户的抵押资产在充当保证金的同时可获得利息。

参与机会：后续参与机会主要在于持币质押和治理，也可以使用平台金库功能，年化20%-50%不等。

14.@JupiterExchange， $JUP

特色：之前是 Solana 上最大的 DEX聚合器，随着业务拓展，Jupiter 现已上线 GMX 模式的永续合约，推出类 GLP 的流动性池，在一个平台即可完成现货兑换和永续交易。

参与机会：未来空投将继续按用户在 Jupiter 平台的交易和互动活动分配。

Twitter：https://twitter.com/BitpushNewsCN

比推 TG 交流群：https://t.me/BitPushCommunity

比推 TG 订阅： https://t.me/bitpush

原文链接:https://www.panewslab.com/zh/articles/2ab35238-82ba-466e-bc29-9b1ff9f1e8ca

说明: 比推所有文章只代表作者观点，不构成投资建议

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