Aster Tops DeFi Fees Chart, Outpacing Hyperliquid and Other Perp DEXs

Decentralized perpetuals exchange Aster has surged to the top of DefiLlama’s protocol fee rankings, generating over $25 million in fees in the past 24 ￰1￱ Takeaways: Aster led all DeFi protocols with over $25 million in daily fees, far surpassing rivals like ￰2￱ lower trading volume, Aster is gaining traction with its unique “hidden orders” feature and recent token ￰3￱ by YZi Labs and endorsed by CZ, Aster’s valuation has soared to $15.1 billion since its rebrand and September token ￰4￱ protocol is significantly ahead of competitors like Hyperliquid, which brought in $3.17 million over the same ￰5￱ ranking fifth in fees, Hyperliquid outpaces Aster in daily ￰6￱ Triples Aster in Spot Volume, DefiLlama Data Shows DefiLlama data shows Hyperliquid logged $477.3 million in spot trading volume, while Aster recorded $199.96 million, placing it 13th overall.

Notably, Aster does not yet appear on the aggregator’s daily revenue leaderboard. Aster, previously known as APX Finance, rebranded in March after merging with ￰7￱ platform is backed by YZi Labs (formerly Binance Labs) and has built its presence on multi-chain support, with an initial focus on BNB ￰8￱ sets Aster apart from other perpetual DEXs is its “hidden orders” feature, which allows traders to place completely invisible limit ￰9￱ deviates from the transparency of most on-chain order books and has caught the attention of users seeking stealth execution ￰10￱ protocol saw a wave of new users following its token launch on September 17, during which its token price experienced a rapid ￰11￱ picked up further when Binance co-founder Changpeng Zhao endorsed the project on X, confirming that YZi Labs holds a minority stake.

“Few understand this,” Zhao posted. “Aster competes with Binance, but helps BNB.” Few understand ￰12￱ competes with @Binance , but helps #BNB . ￰0￱ — CZ BNB (@cz_binance) September 28, 2025 Aster’s native token, ASTER, is currently trading at $1.89, down 1.76% over the past 24 ￰13￱ token now commands a fully diluted valuation of $15.1 billion, an impressive climb from its $560 million valuation at ￰14￱ volume and visibility metrics may vary, Aster’s spike in protocol fees positions it as a rising force in the on-chain derivatives ￰15￱ Reimburses Traders After XPL Price Glitch Triggers Liquidations On Friday, Aster reimbursed users in USDT after a sudden price spike in the XPL perpetual contract triggered forced ￰16￱ anomaly, which occurred during the transition from pre-launch to live trading, saw the price of XPL briefly surge to over $4, well above its $1.30 average on other ￰17￱ exchange responded quickly, completing the first round of reimbursements within hours and compensating affected traders for liquidation and trading ￰18￱ the exact cause remains unconfirmed, early speculation points to a misconfigured index price or missing sync with live market ￰19￱ has pledged to continue its investigation into the ￰20￱ glitch followed the mainnet launch of Plasma, a stablecoin-focused Layer 1 whose native token XPL rapidly hit a $12 billion ￰21￱ the setback, Aster continues to gain momentum, recently surpassing Hyperliquid in daily perpetuals ￰22￱ unique “hidden orders” feature has also helped the platform stand out in a competitive market.