Bitcoin.comPerpetual futures have become crypto’s main event, and the perp DEX wars—led by Hyperliquid, Aster, GMX, DYdX, ApeX, Drift, Jupiter, EdgeX, and Sunperp—are where the action won’t 0 Order Books to Onchain: Inside 2025’s Perp DEX Dogfight Perpetuals are derivatives without an expiry; funding payments between longs and shorts keep contract prices tethered to
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