Aster Claims Top Spot in Daily Fees & Volume Among Perpetual DEXs

Overview

In a surprising surge across the decentralized finance world, Aster has leapt ahead of rivals in the perpetual DEX arena, ranking first in daily fees and trading volume among its peers. DefiLlama data shows that Aster collected over **$25 million** in fees over 24 hours, while trading volumes soared past **$40+ billion**, putting it firmly atop the leaderboard among perpetual decentralized exchanges.

Aster’s Meteoric Rise in Daily Fees

According to on-chain analytics and aggregator reports, Aster recorded more than **$25 million** in daily fees, surpassing established players like Hyperliquid (which managed ~$3.17 million in the same window) This feat underscores Aster’s growing traction and active user engagement. Its fee dominance suggests a high concentration of trading activity and possibly favorable fee structures driving volume.

Dominant 24h Trading Volume

In parallel with its fee dominance, Aster’s 24-hour trading volume broke barriers. Reports indicate the platform touched **$36 billion+** in daily volume, accounting for more than half of the total volume across all perpetual DEXs that day In prior days, Aster had already overtaken competitors—e.g. $11.8B in volume reportedly pushed it past Hyperliquid.

What Is Aster? Key Features & Differentiators

Aster is a next-generation decentralized perpetual exchange designed with **multi-chain support**, deep liquidity aggregation, and advanced order mechanics like **hidden orders** to stand out in a crowded field

Its hidden orders function allows users to place limit orders not visible on the public order book—masking size and direction until execution. This contrasts strongly with most on-chain perpetual DEXs’ transparent order books.

Aster also uses MEV-aware routing and supports both crypto and stock perpetual contracts in some markets. Its fee model is competitive, with maker fees as low as 0.01% and taker fees around 0.035%, often with discounts when fees are paid in ASTER token.

Backers, Rebrand & Strategic Boosts

The project is backed by **YZi Labs** (formerly Binance Labs), giving Aster a strong association to the BNB ecosystem. Originally operating as APX Finance, Aster underwent a rebrand and merger with Astherus in March, positioning itself for a fresh push in the DEX landscape.

Its token launch, held on September 17, saw price momentum, further galvanized by public endorsement from Binance co-founder Changpeng Zhao on social media. Zhao also confirmed that YZi Labs holds a minority stake in Aster

Tokenomics & Market Snapshot

Aster’s native token, **ASTER**, is currently trading around **$1.89** (down ~1.76% in recent trading) with a fully diluted valuation nearing **$15.1 billion**—a dramatic jump from its initial FDV of ~$560 million. This sharp valuation increase reflects heavy speculation, trading volume concentration, and community interest in Aster’s emerging features.

Strengths & Risks to Watch

Strengths:

• Fee generation leadership: strong indicator of active trading ecosystem.
• Hidden orders and MEV mitigation: giving traders tactical privacy options.
• Multi-chain reach and high leverage (e.g. up to 1001× in some modes) broaden appeal.
• Strategic backing and community interest amplify visibility and liquidity pull.

Risks:

• Such rapid volume and fee surges may lean on incentive dynamics rather than organic growth.
• High leverage usage is volatile and carries substantial liquidation risk.
• Smart contract, oracle, and execution vulnerabilities always loom in DeFi environments.

Why This Matters for the DEX Landscape

Aster’s rise signals a shift in how decentralized perps exchanges compete—not just via token incentives or marketing, but by combining **innovative order features**, **liquidity mechanisms**, and **user privacy tools**.

With perpetual DEX volume hitting new highs (e.g. $70B+ in aggregate on some days), Aster's dominance reflects how traders are consolidating capital toward venues that offer both performance and tactical tools

Looking Ahead

As Aster scales, key metrics to follow include:

• Fee sustainability over time (not just bursts)
• Retention of trading users post-incentives
• Security audits, bug bounties, and robustness of hidden order systems
• Expansion of supported chains, markets (e.g. more stock perps) and deeper liquidity
• Community governance, token utility, and alignment of incentives

Final Thoughts

The sweeping ascent of **Aster** in the perpetual DEX arena is notable—not just for its headline metrics, but for what it reveals about the next wave of DeFi competition. By combining volume, fees, cutting-edge order mechanics, and backing from established crypto institutions, Aster may redefine how traders view decentralized derivatives trading. If it can sustain growth, maintain security, and evolve features, it’s poised to remain a top contender—and possibly the new standard—in the perpetual DEX landscape.