OpinionAltcoinsExchange
|6 min ReadTools every Perp DEX trader should know
Maya Chen
Senior Analyst
Published
Jan 16, 2026
Smarter trading starts with sharper data
Binance founder CZ said it outright: the era of perpetual DEXs has arrived. The space is crowded now. Platforms differ in funding rates, price feeds, and position transparency. To survive this new wave, traders rely on tools — dashboards, bots, and data feeds that help read on-chain behavior and spot inefficiencies. BlockBeats rounded up the ones that matter most.
Wallet and position analytics
Every market chases smart money. Tracking where big traders move often beats following influencers. On-chain tools now make that possible.
Coinglass is a classic data site that tracks funding rates, ETFs, and options across exchanges. For Perp DEXs, it currently focuses on Hyperliquid wallet analytics. It groups users into 16 types based on profit and position size, from “Shrimp” to “MoneyPrinter.” The heatmap shows how each group leans — bullish or bearish — on any major token.
Big accounts over $1 million, the MoneyPrinters, for example, show their sentiment on Aster. Smaller traders, the Shrimps and Fish, are quiet. Those with larger balances dominate new positions.
HyperBot tracks “smart wallets” in real time. Born from the Hyperliquid ecosystem and now expanded to Aster, it sends alerts when whales open or close positions. Its token, BOT, trades on Binance Alpha and gained traction after Aster’s second airdrop campaign. Market cap sits near 140 million.
Arbitrage dashboards
As Perp DEX platforms multiply, funding and price spreads open arbitrage windows.
Loris Tools by HyperZap founder Loris tracks open interest and funding rate spreads across platforms. It refreshes every 60 seconds and highlights the biggest opportunities in real time. Traders can set Telegram bot alerts for funding differentials but still need to understand settlement cycles on each exchange.
ASXN Data takes a broader view. Created by researcher ASXN, it offers a full Hyperliquid ecosystem dashboard. It tracks ecosystem overview, liquidity risk metrics, and validator activity. Data is deep, but for now, it only covers Hyperliquid.
Market dashboards
FutureFlows compiles on-chain Perp DEX data across the market, showing volume and activity per token. It’s the big picture for liquidity watchers.
Perpetual Pulse, built by hansolar of the Lighter team, tracks multi-chain contract volumes, TVL, and open interest. It updates live and helps traders see where volume is clustering.
Trading interfaces
Pear Protocol aggregates derivative trading across SYMM and Hyperliquid. It has already cleared nearly 4.2 million market cap and $15 million FDV.
Spark brings Perp DEX trading into Telegram. It supports Hyperliquid and Aster contracts, offering open, close, and copy-trade commands. It includes order books, funding rates, and real-time feeds. The advantage is simplicity: one terminal, many chains.
When trading becomes a game
At Korea Blockchain Week’s Perp-Dex Day, traders livestreamed their sessions across four platforms. The event went viral — turning on-chain trading into a kind of esports spectacle.
The planners par_D & Magon knew what they were doing. It confirmed what many suspected: trading is now content. Watching traders “fight the market” is as addictive as gaming itself.
FLIPgo is pushing that further. Built on Hyperliquid, it lets users stream and trade live. The interface is still early, but its potential is big — Perp DEX as an esports arena. Its native token, FLIP, trades on HyperEVM with a $1.5 million market cap.
Disclaimer: This document is intended for informational and entertainment purposes only. The views expressed in this document are not, and should not be taken as, investment advice or recommendations. Recipients should do their own due diligence, taking into account their specific financial circumstances, investment objectives and risk tolerance, which are not considered here, before investing. This document is not an offer, or the solicitation of an offer, to buy or sell any of the assets mentioned.