The share of perpetual futures volume handled by decentralized exchanges climbed from roughly 2.5% to 7.8% of total perpetual futures volume over the course of 2025, according to analysis from a16z drawing on CoinGecko’s annual report. In absolute terms, DEX perpetual trading hit $6.7 trillion for the year, a 346% jump from 2024. CEX perpetual futures volume reached $86.2 trillion in 2025, itself a healthy 47% increase year-on-year. AdvertisementThe 7.8% market share figure measures DEX perpetual volume as a proportion of CEX perpetual volume. The protocol consistently captured between 30% and 50% or more of all DEX perpetual futures volume at various points throughout 2025.