Best of · Ethereum · Updated
The best Derivatives dApps on Ethereum in 2026
We track 48 Derivatives dApps that run on Ethereum and have reviewed 22 of them in full. Our top pick is Derive. Each one is scored on security, ease of use, fees and features.
Ranked list
- 1
Derive
Derivatives · Ethereum
Derive is an Ethereum-based venue for options and perpetuals, with spot and vault products also listed. Its self-custody and audit claims are useful, but check current fees, collateral rules and access before trading.
ScoreScore 6.7 out of 10TVL — - 2
Volmex
Derivatives · Arbitrum, Ethereum, Polygon
Volmex publishes crypto volatility benchmarks and data feeds, with linked derivatives traded on outside venues. Its free API is accessible, but trading costs, venue rules and the risks of leveraged contracts need checking before you act.
ScoreScore 6.3 out of 10TVL $131K−0.1% - 3
Orderly Bridge
Derivatives · Ethereum, Solana, BNB Chain +16
Orderly is trading infrastructure for branded perpetual DEXs, not a conventional token bridge or a single exchange. Traders use it through connected apps, so check that app’s fees, markets and terms before connecting a wallet.
ScoreScore 6.0 out of 10TVL $23.5M−9.6% - 4
Orderly Chain
Derivatives · Ethereum
Orderly supplies shared order-book infrastructure for branded perpetual DEXs, rather than being just one exchange. It may suit traders who find a venue they trust, but check that venue’s fees, supported network and withdrawal process before depositing.
ScoreScore 6.0 out of 10TVL $242K−0.9% - 5
Contango V2
Derivatives · Arbitrum, Ethereum, Base +7
Contango V2 automates leveraged positions using DeFi lending markets. It may suit experienced traders, but costs, liquidation risk and contract exposure need careful checking.
ScoreScore 5.9 out of 10TVL $6.80M−0.4% - 6
ApeX Pro
Derivatives · Ethereum, Polygon, Arbitrum +4
ApeX Pro is a decentralized derivatives trading platform for leveraged perpetuals. Its current branding also promotes ApeX Omni, so check which product and trading terms you’re using before connecting a wallet.
ScoreScore 5.7 out of 10TVL $1.28M−0.1% - 7
Synthetix V3
Derivatives · Base, Ethereum, Arbitrum
Synthetix V3 powers leveraged perpetual futures with Ethereum-based custody and offchain order matching. It may suit experienced traders, but check the fee schedule, liquidation rules and security record before depositing.
ScoreScore 5.7 out of 10TVL $0−0.0% - 8
SIR
Derivatives · Ethereum, MegaETH, Hyperliquid L1
SIR is a DeFi derivatives protocol for leveraged positions without recurring funding fees or liquidations. Its one-time costs, liquidity limits and audit details deserve a close check before you commit funds.
ScoreScore 5.3 out of 10TVL $82.9K−6.1% - 9
Electra
Derivatives · BNB Chain, TON, Ethereum
Electra is a multi-chain perpetuals DEX advertising up to 100× leverage and a 0.04% starting fee. Its custody and speed claims are appealing, but check the fee schedule, audit details and supported network before trading.
ScoreScore 5.2 out of 10TVL $81.9K−0.0% - 10
Grvt
Derivatives · zkSync Era, Ethereum
Grvt combines crypto spot trading, leveraged perpetuals and yield on collateral. It may suit active traders, but check the unpublished fees, yield terms and custody details before funding an account.
ScoreScore 5.2 out of 10TVL — - 11
Likwid
Derivatives · BNB Chain, Base, Ethereum
Likwid is a DeFi trading and lending protocol with swaps, leveraged margin trading and liquidity pools. Its fees, audit details and custody risks need checking before you deposit.
ScoreScore 5.0 out of 10TVL $12.4K−1.0% - 12
Grvt Bridge
Derivatives · Ethereum
Grvt is a crypto and multi-asset trading platform, not a documented token bridge. You can trade spot and perpetual markets, but check its fees, custody details and risk controls before funding an account.
ScoreScore 4.8 out of 10TVL $34.3M+3.0% - 13
AlphaX
Derivatives · BNB Chain, Ethereum, Arbitrum +1
AlphaX offers spot trading, perpetuals, prediction contracts and automated trading tools, but it does not publish enough fee, licence or audit detail to make funding it an easy call. Treat its advertised leverage of up to 1,000x as exceptionally high risk.
ScoreScore 4.8 out of 10TVL $3.37M+0.3% - 14
Strike Finance Perpetuals
Derivatives · Cardano, Ethereum
Strike Finance is a crypto perpetuals platform that advertises leveraged trading through a connected wallet. Before using it, check the real trading costs, supported networks and how its contracts handle your funds.
ScoreScore 4.8 out of 10TVL $2.20M+30.2% - 15
Apollox
Derivatives · BNB Chain, Ethereum, Arbitrum +3
ApolloX is a decentralized derivatives exchange built around off-chain order matching and on-chain settlement. Before using it, check the current fees, supported markets and network requirements; its audit and licensing details are not published.
ScoreScore 4.5 out of 10TVL — - 16
SakePerp
Derivatives · Ethereum, BNB Chain
SakePerp is an on-chain perpetuals protocol using an AMM and oracle price mechanism on Ethereum and BNB Chain. Its trading model is described, but published fee details, audit reports and licensing information are too limited to make it an easy choice for cautious traders.
ScoreScore 4.2 out of 10TVL $44.3K−0.8% - 17
Wasabi Perps
Derivatives · Base, Solana, Ethereum +2
Wasabi Perps offers leveraged trading on long-tail assets and liquidity vaults, but key details on costs, custody and audit scope are not published.
ScoreScore 4.0 out of 10TVL $436K−12.6% - 18
Apex Omni
Derivatives · Arbitrum, Ethereum, Base +2
ApeX Omni is a multi-chain decentralized perpetual-futures platform. Fees, custody details and independent audits are not established, so check the trading terms before connecting funds.
ScoreScore 3.0 out of 10TVL $27.2M−4.9% - 19
Contango V1
Derivatives · Arbitrum, Ethereum
Contango V1 was a DeFi derivatives protocol for expiring futures, but it is marked inactive. Treat it as a historical product, not a place to open a position or deposit funds.
ScoreScore 2.5 out of 10TVL $267K−1.2% - 20
SynFutures V1
Derivatives · Ethereum, Polygon, Arbitrum +1
SynFutures V1 has been phased out. It is best treated as a legacy derivatives protocol, not a place to start new trades or deposit funds.
ScoreScore 2.0 out of 10TVL $12.8K−0.1% - 21
Polynomial Liquidity
Derivatives · Ethereum
Polynomial was a decentralised perpetuals exchange on its own Ethereum rollup, but it ceased operations starting February 14, 2026. Don’t treat its still-promotional product page as proof that trading or withdrawals work today.
ScoreScore 2.0 out of 10TVL $0 - 22
Sense
Derivatives · Ethereum
Sense Finance has wound down, and its Portal was scheduled for deprecation in 2023. Treat it as a legacy protocol, not a place to open new positions or deposit funds.
ScoreScore 1.5 out of 10TVL $26.9K−0.8% - 23
SunX Bridge
Derivatives · Tron, Ethereum, BNB Chain +1
SunX is a decentralized perpetual futures exchange associated with TRON, not a conventional token bridge. Its trading costs and security details are too unclear to assess confidently.
ScoreNot rated yetTVL $21.2M−2.4% - 24
Paradex Bridge
Derivatives · Ethereum
Paradex is described as a perpetuals DEX, but the “Bridge” label conflicts with that description. There isn’t enough detail to assess its fees, security or setup safely.
ScoreNot rated yetTVL $19.5M−24.0% - 25
Aevo Perps
Derivatives · Ethereum, Arbitrum, Optimism +1
Aevo Perps is a crypto derivatives platform for trading options and perpetual futures. Fees, custody arrangements and key trust details are not established, so check them before trading.
ScoreNot rated yetTVL $14.9M−2.8%
Derivatives dApps on Ethereum: the numbers
- Tracked
- 48
- Reviewed
- 48
- Total TVL
- $165M
- Avg. score
- 4.6/10
There are 48 derivatives dApps on Ethereum in the SkyBitcoins index. Every one of them has a full review. Across the 36 with TVL data, the combined value locked is $165M, counting value on every chain they support. No single project dominates: the largest, Grvt Bridge, holds 21%. The top five account for 76%, while the median derivatives dApp holds $185K.
By value locked, the largest derivatives dApps on Ethereum are Grvt Bridge ($34.3M), Apex Omni ($27.2M) and Orderly Bridge ($23.5M). On SkyBitcoins scores, Derive ranks first at 6.7/10, ahead of Volmex (6.3) and Orderly Bridge (6.0). The 22 rated derivatives dApps average 4.6/10, and none scores 8 or above yet.
Many also deploy elsewhere, most often on Arbitrum (22), BNB Chain (17) and Base (15). Of the 32 with a confirmed status, 28 are active and 4 are inactive or wound down. In the past week, total value locked fell 7.1%. Strike Finance Perpetuals gained the most (+30.2%), while dYdX V3 dropped the most (−30.0%).
Largest by TVL
- 1
Grvt Bridge$34.3M
- 2
Apex Omni$27.2M
- 3
Orderly Bridge$23.5M
- 4
SunX Bridge$21.2M
- 5
Paradex Bridge$19.5M
Highest rated
- 1
Derive6.7
- 2
Volmex6.3
- 3
- 4
Orderly Chain6.0
- 5
Contango V25.9
Method
How we ranked them
Reviewed dApps come first. Each SkyBitcoins review scores security, ease of use, fees and features from 0 to 10 using public facts such as audits, documentation and on-chain data; the overall score orders the list, with total value locked as the tie-breaker. Projects we have not reviewed yet follow, ordered by total value locked. Scores are never sold.
Guides
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Frequently asked questions
What is the largest derivatives dApp on Ethereum by TVL?
Grvt Bridge is the largest derivatives dApp on Ethereum by total value locked, with $34.3M across all the chains it supports. It is followed by Apex Omni ($27.2M) and Orderly Bridge ($23.5M). TVL figures come from DefiLlama and change daily.
Which derivatives dApp on Ethereum has the highest SkyBitcoins score?
Derive has the highest score at 6.7/10, ahead of Volmex (6.3) and Orderly Bridge (6.0). Scores weigh security, ease of use, fees and features, and are based only on facts we could verify.
How many derivatives dApps on Ethereum has SkyBitcoins reviewed?
SkyBitcoins tracks 48 derivatives dApps on Ethereum. Of these, 48 have a full review and 36 report value locked, $165M in total, counting value on every chain they support.
Which derivatives dApps on Ethereum grew the most this week?
Among derivatives dApps with at least $1M locked, Strike Finance Perpetuals had the biggest 7-day TVL gain (+30.2%) and dYdX V3 the biggest drop (−30.0%). Combined TVL moved −7.1% over the same seven days.
What is the average score for derivatives dApps on Ethereum?
The 22 rated derivatives dApps on Ethereum average 4.6 out of 10. Of these, 0 score 8 or higher and 11 score below 5.