In this article, I am going to talk about the Best On-Chain Derivatives Data Providers who help traders, analysts, and researchers to understand decentralized derivatives markets.
These providers provide helpful information on trading volume, open interest, funding rates, liquidations, options pricing and market activity. To help readers find suitable platforms for derivatives market research and analysis, we will explore their key features, data capabilities, and unique advantages.
Key Points & Best On-Chain Derivatives Data Providers
| Provider | Best For | Explanation |
|---|---|---|
| Hyperliquid | Real-time trading data | Provides on-chain perpetual futures data, trading volumes, open interest, and liquidations. |
| CoinGlass | Derivatives analytics | Tracks open interest, funding rates, liquidations, and derivatives market sentiment across exchanges. |
| DeFiLlama | DeFi market tracking | Offers protocol analytics, perpetual trading volumes, fees, and decentralized exchange performance metrics. |
| Block Scholes | Options analytics | Delivers institutional-grade options pricing, implied volatility, and crypto derivatives market analytics. |
| GMX | Decentralized perpetuals | Provides decentralized perpetual trading activity, open interest, funding rates, and liquidity insights. |
| dYdX | Perpetual market activity | Tracks decentralized perpetual markets, trading volumes, funding rates, and market activity indicators. |
| Drift Protocol | Solana derivatives | Offers Solana-based perpetual futures data, liquidity metrics, funding rates, and trading analytics. |
| Derive | Options and derivatives | Provides crypto options and perpetuals data, volatility metrics, pricing, and market insights. |
| Aevo | Options and futures | Tracks decentralized options and perpetual futures activity, trading volumes, and market pricing data. |
| Pyth Network | Market price feeds | Supplies low-latency price feeds supporting derivatives valuation, risk monitoring, and market analysis. |
10 Best On-Chain Derivatives Data Providers In 2026
1. Hyperliquid
Hyperliquid is a high performance, on-chain perpetual exchange, running on its own layer 1 blockchain, with a fully on-chain orderbook. The public API provides real-time and historical data for positions, order books, liquidations, open interest and trades. The data contains both the Hyperliquid L1 and the HyperEVM.
Funding rates are calculated and settled hourly using a premium index and an interest rate component and are available via the API for every market. Supported assets: 200+ perpetual contracts including BTC, ETH, SOL, HYPE and many altcoins. Spot and pre-launch markets. It provides traders and analysts with clear and verifiable information on derivatives.
Hyperliquid Feature
| Feature | Explanation |
|---|---|
| Trading Volume | Tracks perpetual trading activity and market participation across listed markets. |
| Open Interest | Provides market position information useful for assessing outstanding perpetual contracts. |
| Funding Rates | Shows periodic funding payments that help perpetual prices track underlying assets. Hyperliquid Docs |
| Market Data API | Offers market information and historical funding data through its developer API. |
2. CoinGlass
CoinGlass is one of the most popular derivatives analytics platforms aggregating data from centralized exchanges and on-chain venues. It has open interest, liquidation maps, long/short ratios, options data, and ETF flows. The protocols supported are Hyperliquid, dYdX, GMX, Drift and big exchanges like Binance, Bybit, OKX.
Funding rates are displayed as comparative heatmaps and historical charts, with weighted averages across exchanges, to help traders spot crowded positioning. Supported assets include Bitcoin, Ethereum, Solana, XRP and hundreds of altcoins. A premium API is available for developers and quant teams.
CoinGlass Feature
| Feature | Explanation |
|---|---|
| Open Interest | Aggregates open-interest metrics across supported cryptocurrency derivatives markets. |
| Funding Rates | Tracks current and historical funding rates across multiple exchanges. |
| Liquidation Analytics | Provides liquidation statistics, heatmaps, and liquidation-event data for market analysis. |
| API Integration | Delivers market datasets through APIs for research, dashboards, and trading applications. |
3. DeFiLlama
DeFiLlama is a free and open-source DeFi analytics aggregator, most known for tracking TVL, and also has dedicated dashboards for perpetuals and options. The derivatives section includes trading volume, open interest and fees by protocol with free APIs and no paywalls.
It supports dozens of protocols, including Hyperliquid, GMX, dYdX, Drift, Aevo, Jupiter Perps and Gains Network, across many chains.
The coverage of funding rates is not as extensive as at specialist providers . Some data is available through its dedicated end points . The assets supported differ by protocol, mainly major crypto pairs. It is ideal for comparing different protocols.
DeFiLlama Feature
| Feature | Explanation |
|---|---|
| Perpetual Volume | Compares perpetual derivatives trading volumes across decentralized trading protocols. |
| Open Interest | Tracks outstanding perpetual positions across supported protocols. |
| Funding Rates | Provides access to perpetual funding-rate data and related market indicators. |
| Protocol Comparison | Helps evaluate trading activity and compare derivatives platforms using standardized metrics. |
4. Block Scholes
Block Scholes is an institutional crypto derivatives data and analytics provider focused on volatility surfaces, options pricing and risk models. Its data feeds are used by market makers and trading desks, and funds. Supported venues include Deribit and other major options and futures markets with increasing coverage of on-chain venues such as Derive and Aevo.
Implied volatility, skew and term structure, funding rates, and perpetual basis data are available. The supported assets are primarily BTC and ETH, along with a selection of major altcoins. Its strength is clean, normalized, high quality data delivered through APIs and dashboards for professionals.
Block Scholes Feature
| Feature | Explanation |
|---|---|
| Implied Volatility | Provides implied-volatility metrics for evaluating options market expectations. |
| Volatility Surfaces | Maps implied volatility across different options strikes and expiration dates. |
| Derivatives Pricing | Supplies mark, index, settlement, and reference prices for supported instruments. |
| Data APIs and Oracles | Delivers real-time and historical derivatives data through APIs and on-chain oracle solutions. |
5. GMX
GMX is a decentralized perpetual exchange on Arbitrum and Avalanche with a pooled liquidity model and oracle-based pricing. It has subgraph and APIs to get open interest, volume, fees and pool composition. As a protocol it’s a data source for itself and a common integration for aggregators like CoinGlass and DeFiLlama.
Funding rates are variable and charged to the side with larger open interest, paid out to the opposite side in GMX V2. Borrowing fees are charged as well. This is useful to track on-chain trader behavior. Supported assets include BTC, ETH, SOL, LINK, ARB and other tokens with isolated GM markets.
GMX Feature
| Feature | Explanation |
|---|---|
| Trading Volume | Enables analysis of perpetual trading activity across supported GMX deployments. |
| Open Interest | Helps assess outstanding long and short exposure in supported perpetual markets. |
| Funding and Borrowing Fees | Provides market mechanisms and fee information relevant to leveraged positions. |
| Liquidity Analytics | Supports analysis of liquidity pools and their role in perpetual trading. |
6. dYdX
dYdX is a leading decentralized derivatives exchange that migrated to its own Cosmos-based appchain (dYdX Chain) with an off-chain order book and on-chain settlement. Its indexer API offers fine-grained data on trades, candles, order books, and subaccount positions.
Funding rates are calculated and paid hourly based on a premium sampled every minute and are available historically per market. Supported assets 200+ perpetual markets for BTC, ETH, SOL, and many altcoins. It is a trusted source for open interest and volume data, and is widely integrated by aggregators and trading tools.
dYdX Feature
| Feature | Explanation |
|---|---|
| Position Data | Provides account-position information, including open-interest-related data. |
| Trade History | Records order fills and trade information for market analysis. |
| Liquidation Data | Includes liquidation events and associated trading activity in its indexed data. |
| Funding Information | Exposes funding-rate payments and historical oracle prices through indexed data |
7. Drift Protocol
Drift Protocol is a premier Solana-based decentralized exchange offering perpetuals, spot trading and lending. It exposes public APIs, SDKs and a data API for trades, funding history, positions and liquidations. It employs a hybrid liquidity model, integrating a decentralized orderbook, an AMM, and just-in-time auctions.
Funding rates are paid hourly and are based on the difference between mark price and oracle price, historical rates are available through its data endpoints. It supports SOL, BTC, ETH and many tokens from Solana ecosystem. This is useful for analysts monitoring derivatives activity on Solana.
Drift Protocol Feature
| Feature | Explanation |
|---|---|
| Perpetual Markets | Supports analysis of perpetual trading activity across its Solana-based markets. |
| Open Interest | Helps assess outstanding positions and exposure in supported perpetual markets. |
| Funding Rates | Funding information helps traders evaluate the cost of holding perpetual positions. |
| Market Pricing | Market and oracle price information supports valuation and risk monitoring. |
8. Derive
Derive, formerly known as Lyra, is an on-chain options and perpetuals platform built on its own Ethereum-aligned Layer 2 chain. The protocol features a central limit order book with on-chain settlement and portable margin across products. Its API provides options chains data, implied volatility, Greeks, open interest & perpetual markets.
Funding rates are applicable to its perpetual contracts and can be accessed through its public endpoints. ETH and BTC options and perpetuals are the main supported assets, with more markets being added over time. It is referenced by data providers like Block Scholes and other tools for analytics of on-chain options data.
Derive Feature
| Feature | Explanation |
|---|---|
| Options Market Data | Focuses on options activity across supported cryptocurrency markets. |
| Options Pricing | Helps users evaluate contract prices across strikes and expiration dates. |
| Volatility Analysis | Options prices can support analysis of implied volatility and market expectations. |
| Perpetual Markets | Also supports perpetual derivatives trading, broadening its market-data coverage. |
9. Aevo
Aevo is a decentralized derivatives exchange on its own Ethereum rollup, focusing on options and perpetuals and using a hybrid off-chain order book with on-chain settlement. Its API provides access to order books, trades, open interest, funding and options chain data including implied volatility.
Perpetuals Funding Rates Published by Market Updated regularly REST and WebSocket endpoints available It supports BTC, ETH and many altcoin perpetuals, as well as pre-launch markets and options on the major assets. It’s a trader favorite for on-chain options liquidity and its volume is tracked by aggregators like DeFiLlama.
Aevo Feature
| Feature | Explanation |
|---|---|
| Options Trading | Provides options-market activity across supported crypto contracts. |
| Perpetual Futures | Supports perpetual futures trading and analysis of market participation. |
| Trading Volume | Helps evaluate trading activity across supported derivatives products. |
| Market Pricing | Contract prices provide information for evaluating options and perpetual markets. |
10. Pyth Network
Pyth Network is a decentralized oracle delivering real-time high-frequency price feeds that support most on-chain derivatives platforms. It’s not a derivatives exchange, it’s the price data source used by perpetual protocols for settlement, liquidations and funding calculations. Supported protocols: Drift, GMX, Hyperliquid-adjacent tools, hundreds of apps across 50+ blockchains.
Pyth doesn’t set funding rates itself, but its accurate prices feed the calculations of the mark and index prices that underlie them. Supported assets include hundreds of crypto pairs, equities, FX and commodities. It’s a critical piece of infrastructure with low latency and a first-party publisher model.
Pyth Network Feature
| Feature | Explanation |
|---|---|
| Real-Time Price Feeds | Delivers price updates for supported crypto assets and other financial instruments. |
| Market Price Updates | Publishes price information designed for applications requiring timely market data. |
| Oracle Integration | Makes price feeds available to supported blockchain applications and smart contracts. |
| Derivatives Valuation | Price feeds can support collateral valuation, risk checks, and derivatives settlement mechanisms. |
Conclusion
Overall, the Best On-Chain Derivatives Data Providers provide traders, analysts, and researchers with crucial insights into decentralized derivatives markets, encompassing trading volume, open interest, funding rates, liquidations, and pricing data.
And platforms like Hyperliquid, CoinGlass, DeFiLlama, Block Scholes and Pyth Network do different things. Choosing a provider is a matter of data accuracy, market coverage, API availability and your own research or trading needs.
FAQ
Which are the best on-chain derivatives data providers?
Popular options include Hyperliquid, CoinGlass, DeFiLlama, Block Scholes, GMX, dYdX, Drift Protocol, Derive, Aevo, and Pyth Network.
What data do derivatives providers offer?
They offer trading volumes, open interest, funding rates, liquidation data, options pricing, volatility metrics, and market prices.
Why is open interest important in derivatives markets?
Open interest helps traders evaluate outstanding contracts, market participation, leverage exposure, and potential changes in market sentiment.
Which platform provides crypto liquidation data?
CoinGlass provides liquidation analytics, including liquidation statistics and heatmaps across supported cryptocurrency derivatives markets.
