Castle Labs: Onchain Perp DEX Volume Share Climbs to 12.33%

According to a report by Castle Labs, onchain perpetual DEXs have seen their share of global perpetual futures trading volume surge from 0.11% in January 2023 to 12.33% in September 2026. Concurrently, onchain RWA perpetuals have experienced rapid growth, covering traditional assets such as equities, commodities, and pre-IPO instruments; monthly volume peaked at approximately $147.5 billion in July 2026, accounting for 19.6% of total onchain perpetual volume that month. As of September 24, total open interest across perp DEXs stood at roughly $14.64 billion, with Hyperliquid leading at about $8.32 billion (56.8%), followed by Aster at 9.7% and Variational at 6.2%. — link