Daily close and perpetual volume across tracked exchanges
Most oracles pass data through third-party node operators. Api3 takes a different approach with first-party oracles, where the data providers run their own nodes and sign feeds directly. Its price feeds serve DeFi lending and derivatives apps on many chains, and API3 is the governance and staking token of the Api3 DAO. Perps let traders take leveraged positions on the oracle sector, which tends to move with DeFi activity, or short it.
Oracle extractable value, or OEV, is the angle that sets Api3 apart. Its OEV Network auctions the right to act on price updates, such as triggering liquidations, and returns proceeds to the apps using the feeds. Adoption of that model, new chain integrations and DeFi lending volumes drive the longer story. Binance and BingX carry most perp volume, and the market is thin enough for funding to swing on modest orders.
API3 funding rates API3 open interest API3 liquidations API3 long/short ratio
Every tracked API3 perpetual market
| # | Exchange | Price | 24h | Volume 24h | Open interest | OI 24h | Funding 8h | L/S | Liq. 24h | ±1% depth | Trade |
|---|
Share of total · 24h change
Last 24h · long vs short
Last 4h · buy share of taker volume
Live answers use data from every tracked API3 perpetual markets · updated
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Api3 is a decentralised oracle project that connects smart contracts to real-world data through feeds run by the data providers themselves. Its Airnode software lets an API provider operate an oracle node with little overhead. The API3 token governs the Api3 DAO and is staked to back the network.
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Api3 has data providers run their own oracle nodes, while Chainlink relies mainly on independent node operators that fetch and aggregate data from sources. Api3 argues this removes a middle layer and improves transparency. Both serve DeFi apps, and LINK has by far the larger perp market.
OEV stands for oracle extractable value, the profit available to whoever acts first on a price update, such as liquidating an undercollateralised loan. Api3 auctions that opportunity through its OEV Network and passes proceeds back to the protocol using the feed. The aim is to keep value that would otherwise go to searchers and validators.
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Oracle demand rises with DeFi lending and trading activity, so traders often treat API3 as a lever on DeFi growth. Periods of heavy on-chain leverage and new chain launches tend to lift interest in oracle tokens. A broad DeFi selloff usually pulls API3 down alongside sector peers.
API3 perpetual futures are derivatives contracts that track the price of API3 and never expire. Instead of settling on a date, they use a funding rate to stay close to the spot price. You can go long or short with leverage without holding any API3.
Funding is a payment between longs and shorts. When API3 perps trade above the index price, funding is positive and longs pay shorts. When they trade below it, shorts pay longs. Most exchanges settle every 8 hours and some, including Hyperliquid, settle every hour.
Compare venues, fees and features on the best perpetual exchanges page.
Coinperps does not give trading advice. Funding, open interest, the long/short ratio and liquidations show how other traders are positioned, but crowded positioning can last longer than expected. Size positions so a liquidation would not hurt you.
Data from tracked centralised and decentralised exchanges, refreshed every few minutes. Not financial advice. Methodology