Perp DEX vaults by platform
Eight perpetual exchanges, 229 vaults, one method. Each platform page lists every vault we observe there, the ones on today's screen, and what to know before depositing.
As of 15 October 2026 · updated every four hours · snapshot hashed daily · free
Platforms
Open a platform for its vaults, figures and questions.
One method, eight platforms
Every platform publishes its vaults differently — share prices, account values, on-chain token prices. PerpVault converts each into the same thing: what one share earned, with deposits and withdrawals removed. That is why a Hyperliquid operator vault, a GMX pool and Aster's ALP can sit in one table.
Where the differences are
USDC vaults (Hyperliquid, Lighter, Paradex, dYdX, Ostium) have no price exposure: the return is the trading result. Pools that hold crypto (GM pools, ALP, gETH) move with their assets as well; they are marked, and best compared with each other. Operator vaults carry one trader's risk; protocol pools carry the whole exchange's trader flow.
Questions
Which perp DEXs have vaults?
Hyperliquid (HLP and operator vaults), Lighter (LLP and public pools), Paradex (operator vaults), dYdX (MegaVault), GMX (GM pools), Gains (gToken vaults), Ostium (liquidity pool) and Aster (ALP). PerpVault measures all of them the same way, every day.
Which perp DEX has the most vault deposits?
Hyperliquid: $407.9M · Lighter: $90.1M · Paradex: $3.0M · dYdX: $1.7M · GMX: $169.5M · Gains: $4.8M · Ostium: $2.3M · Aster: $5.5M (as of 15 October 2026, vaults above $25k that we observe).
What is the difference between a protocol pool and an operator vault?
A protocol pool (HLP, LLP, GM pools, ALP, MegaVault) is the exchange's own counterparty to traders: it earns fees and traders' losses and pays their wins; nobody trades it. An operator vault is one trader's strategy run with pooled deposits for a share of the profits.
Largest vaults across all platforms
The ten largest vaults we observe, any platform.
| Vault | Deposits | Return / yr | Max DD | Last 30d | History | Score |
|---|---|---|---|---|---|---|
| Hyperliquidity Provider (HLP) | $179.8M | +56.1% | 5.8% | +0.3% | 3.4 y | 93 |
| HLP Strategy X | $100.5M | +4.3% | 0.0% | +0.3% | 294 d | 52 |
| Lighter Liquidity Provider (LLP)screen | $86.0M | +10.7% | 5.5% | +2.6% | 1.1 y | 63 |
| BTC/USD [WBTC.b-USDC]screen | $57.3M | +33.0% | 26.3% | +2.4% | 3.3 y | 61 |
| ETH/USD [ETH-USDC] | $45.1M | +21.3% | 35.4% | -1.1% | 3.3 y | 50 |
| HLP Liquidator 2 | $30.0M | +192.2% | 0.8% | +0.0% | 1.5 y | 28 |
| ETH/USD [ETH-ETH] | $16.2M | -6.5% | 64.4% | -3.7% | 2.5 y | 26 |
| Growi HF | $13.7M | +58.1% | 12.3% | +2.5% | 2.2 y | 89 |
| [ Systemic Strategies ] L/S Grids | $9.3M | +75.2% | 34.8% | -24.0% | 1.7 y | 40 |
| BTC/USD [WBTC.b-WBTC.b] | $9.1M | +10.8% | 51.6% | +4.2% | 2.5 y | 38 |