EVEDEX, a perpetual futures exchange built on Arbitrum, has increased its total value locked (TVL) by 418% over the past 12 months, according to data from the platform cited by the Arbitrum team. The growth points to rising demand for decentralized derivatives trading on Ethereum Layer-2 networks.

TechFlow reported that the platform's TVL sits entirely on the Arbitrum chain. @EVEDEX describes its model as a hybrid: orders are matched off-chain through an order book, while trades settle on-chain on @Arbitrum.

Putting the 418% Figure in Context

A percentage gain depends heavily on the starting point. According to DefiLlama, EVEDEX held $3.59 million in TVL as of November 5, 2026, after reaching an all-time high of $3.72 million on October 14, 2026. The data aggregator also shows an all-time low of $466,281 on August 28, 2025, which indicates the 12-month increase came from a very small base.

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DefiLlama data also shows TVL fell 2.6% over the 30 days to November 5. The platform ranks 32nd among derivatives protocols tracked by the aggregator and accounts for about 0.2% of the category's $1.88 billion in TVL. EVEDEX is therefore still a small player next to larger perpetuals venues.

On product scope, a report from MPost said EVEDEX integrated with Binance Wallet for gasless perpetual futures trading on Arbitrum, with up to 200x leverage and maker and taker fees of 0.015% and 0.045%. Deposits are routed to Arbitrum through the Rhino.fi bridge.

Perpetual DEXs Are Gaining Share

EVEDEX's growth comes as on-chain derivatives expand more broadly. Bitcoin.com reports that on-chain perpetual volume grew from roughly $81 billion in January 2024 to over $739 billion by January 2026, an approximately eightfold increase. Arbitrum remains a major venue for the sector, hosting protocols such as GMX and Avantis.

Low fees and fast execution are central to the pitch for these exchanges, as they try to narrow the gap with centralized venues while keeping users in control of their funds. Whether EVEDEX can convert its recent TVL growth into a larger share of that market will depend on sustained trading activity and liquidity.