Perp DEX points farming has turned into a gold rush in 2025, with monthly trading volumes smashing past $1.2 trillion. Traders are piling into platforms like Hyperliquid S2, Paradex, and ExtendedApp, chasing airdrops that could mint serious rewards. But not all points programs are equal; some deliver outsized value through high liquidity, low fees, and token allocations. This tier list cuts through the noise, ranking 19 key players by farming potential, drawing from real-time data as of November 30,2025.
Lighter Claims S-Tier Crown for Points Farming
Lighter has rocketed ahead, flipping Hyperliquid in daily volume at over $7 billion and open interest near $1.4 billion. Backed by a16z and Lightspeed, its zero-fee model makes funding arbitrage a no-brainer. Points here trade at $50 each on OTC markets, with token drops eyed by December end. Trading perps, competitions, and referrals rack up these gems fast. If you’re farming without second-guessing, start here; it’s print mode on.
Hyperliquid still holds strong in S-Tier contention, especially with Season 2 live on its L1 chain. High throughput and slick UX keep volumes humming, rewarding volume and engagement with convertible points. But Lighter’s edge in sheer scale and point valuation puts it top dog for now.
2025 Perp DEX Points Farming Tier List
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Lighter (S-Tier): Leads with $7B daily volume, $1.4B OI, zero-fee trading. Points trade at $50 OTC, token drop by Dec 2025.
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Hyperliquid S2 (S-Tier): Proprietary L1 chain, high throughput, low fees. Rewards trading volume for points convertible to tokens.
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Paradex (A-Tier): StarkEx tech, $100B lifetime volume, 57.6% community tokens. Earn 4M XP weekly.
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Avantis (A-Tier): Strong points farming potential via volume and engagement in competitive Perp DEX space.
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ExtendedApp (B-Tier): On Starknet, $1B daily volume, $74M TVL. 1.3M points weekly, valued $2-$5 OTC.
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Pacifica (B-Tier): Solana-based, $33B cum. volume. 500K points weekly at $0.80 OTC.
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GMX (B-Tier): Established with solid liquidity, reliable for ongoing points and airdrop farming.
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Aevo (C-Tier): Decent volume but lower points value; focus on selective trading strategies.
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dYdX (C-Tier): Veteran Perp DEX with steady activity, moderate farming rewards.
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Vertex Protocol (C-Tier): Orderbook-based, good for advanced traders but trailing in points hype.
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Drift Protocol (C-Tier): Solana Perps, community-driven but competitive farming landscape.
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Perpetual Protocol (C-Tier): Optimism chain, consistent but not top-tier points potential.
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Gains Network (D-Tier): Leveraged trading, limited points momentum for 2025.
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MUX Protocol (D-Tier): Aggregator-style, lower visibility in current farming meta.
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SynFutures (D-Tier): Multi-chain, emerging but points lag behind leaders.
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RabbitX (D-Tier): Fast execution, niche appeal for farming.
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Orderly Network (D-Tier): Infra-focused, subdued points opportunities.
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KiloEx (D-Tier): Blast chain, early stage with minimal farming edge.
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Mars Protocol (D-Tier): Redstone oracle, bottom for 2025 points priority.
Hyperliquid S2 vs Paradex: Core A-Tier Battle
Hyperliquid S2 shines with its proprietary L1, delivering low fees and speed that pros crave. Points scale with trading volume, positioning it for fat future token conversions. Paradex counters with StarkEx scaling, lifetime volume nearing $100 billion, and a generous 57.6% community token alloc. Weekly 4 million XP drops keep farmers hooked, converting to tokens at launch.
Head-to-head, Hyperliquid edges on tech sovereignty and UX, but Paradex wins on community focus. Both crush lower tiers like Aevo or dYdX, which lag in fresh points momentum despite solid reps. For perp dex points farming 2025, split time here if Lighter feels too crowded.
ExtendedApp Enters B-Tier Fray with Starknet Pivot
ExtendedApp, from ex-Revolut devs, hit $1 billion daily volume post-Starknet move, TVL at $74 million. Tradfi pairs with 100x leverage appeal to conservatives. Season 1 dishes 1.3 million points weekly, 30% TGE alloc confirmed. OTC trades $2-$5 now, whispers of $5-$30 potential. Solid, but trails A-Tier liquidity.
Pacifica lurks nearby in B-Tier too, Solana-based with $33 billion beta volume under Constance Wang. Partial liquidations and AI bots add spice, 500k weekly points at $0.80 OTC eyeing $5-$10. GMX rounds out with proven liquidity, though points feel dated next to newcomers. Lower down, Vertex Protocol, Drift, and Perpetual Protocol offer niche plays, but farming efficiency dips versus the leaders. Check this guide for TVL deep dives.
Avantis slots into A-Tier alongside Paradex for its funding and points edge, but lacks the volume punch of leaders. Deeper in B-Tier, Gains Network holds steady with liquidity pools, though its points program feels legacy compared to fresh drops. MUX Protocol and SynFutures offer specialized pairs, rewarding consistent volume without the hype.
C-Tier Grinds: Aevo, dYdX, and Legacy Contenders
Aevo and dYdX carry battle-tested reps from earlier cycles, with points tied to maker-taker dynamics. Vertex Protocol excels in orderbook depth, Drift on Solana brings speed for meme plays, and Perpetual Protocol keeps it simple with V2 upgrades. These deliver reliable best perp dex airdrops 2025 potential, but weekly multipliers pale against S-Tier explosions. RabbitX and Orderly Network scrape C-Tier with niche liquidity, while KiloEx and Mars Protocol lag on transparency, making them farmer’s afterthoughts.
Perp DEX Points Farming Metrics Comparison
| Tier | Platform | Weekly Points | OTC Value | Token Alloc % |
|---|---|---|---|---|
| S-Tier | Lighter | N/A | $50 | TBA |
| A-Tier | Hyperliquid S2 | Volume-based | TBA | TBA |
| A-Tier | Paradex | 4M XP | TBA | 57.6% |
| B-Tier | ExtendedApp | 1.3M | $2-5 | 30% |
| C-Tier | Pacifica | 500k | $0.80 | TBA |
D-Tier like MUX, SynFutures, and the rest suit multi-platform spreaders. Farm here for diversification, not conviction. Overall, the hyperliquid s2 farming tier list shakes out with Lighter dominating, but rotating through A and B keeps risk balanced.
Head-to-Head Strategies: Hyperliquid S2 vs Paradex vs ExtendedApp
For paradex vs extendedapp points, prioritize based on your style. Hyperliquid S2 rewards aggressive volume: open 10-20x longs/shorts on majors like BTC or ETH, cycle positions hourly to farm funding without directional bets. Its L1 eats high-frequency plays, netting points on every maker fill. Stack with spot HYPE for multiplier boosts.
Paradex thrives on steady XP grinding. Hit weekly quests – trade $10k volume across alts, refer three users – for 4 million pool shares. StarkEx keeps gas under $0.01, ideal for perp dex points farming 2025 marathoners. Avoid overleveraging; focus maker orders to max efficiency.
ExtendedApp suits tradfi crossovers. Leverage 100x on forex pairs like EURUSD, farm 1.3 million weekly amid Starknet liquidity. Early OTC flips add yield, but cap exposure at 5% portfolio given TVL constraints. Pair with Pacifica for Solana synergy: AI bots auto-compound points there.
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Cross-platform alpha? Allocate 40% Lighter for print-mode volume, 30% Hyperliquid/Paradex split, 20% ExtendedApp, 10% diversified lowers like GMX or Aevo. Track OTC point floors daily; exit if valuations stall. Tools like Dune dashboards reveal whale flows early.
Hyperliquid (HYPE) Points OTC Value Prediction 2026-2031
Projected values based on Perp DEX volume trends, TGE timelines, tier list rankings (A-Tier), and market adoption in the booming perpetual futures sector
| Year | Minimum Price (USD) | Average Price (USD) | Maximum Price (USD) |
|---|---|---|---|
| 2026 | $10 | $50 | $150 |
| 2027 | $20 | $80 | $250 |
| 2028 | $40 | $120 | $400 |
| 2029 | $80 | $250 | $800 |
| 2030 | $150 | $450 | $1,200 |
| 2031 | $250 | $700 | $2,000 |
Price Prediction Summary
Hyperliquid points are forecasted to see strong growth from 2026-2031, with average OTC values rising over 14x driven by Hyperliquid’s robust L1 blockchain, high trading throughput, points-to-token conversion post-TGE, and the Perp DEX sector’s expansion to multi-trillion monthly volumes. Min prices reflect bearish cycles and competition from S-Tier Lighter; max capture bull runs and adoption surges.
Key Factors Affecting Hyperliquid Price
- Explosive Perp DEX trading volumes ($1T+ monthly in 2025, projected higher)
- Hyperliquid S2 points program tied to volume/engagement, TBA ~$20+ baseline
- TGE and token distribution by late 2025/early 2026 unlocking liquidity
- Competition from Lighter ($50-100) and Paradex ($10-30), but Hyperliquid’s tech edge
- Crypto market cycles: post-2025 bull consolidation then 2028-2030 rally
- Regulatory tailwinds for DeFi perps and scaling tech (Starknet, Solana rivals)
- Investor backing and community allocations boosting post-TGE value
Disclaimer: Cryptocurrency price predictions are speculative and based on current market analysis.
Actual prices may vary significantly due to market volatility, regulatory changes, and other factors.
Always do your own research before making investment decisions.
Lighter’s zero-fee flywheel sets the pace, but Hyperliquid S2’s tech moat and Paradex’s alloc generosity close gaps fast. ExtendedApp proves newcomers can disrupt with sharp execution. Grind these, hedge with the full 19-list spread, and position for Q4 TGEs. Clarity on points beats FOMO every time.
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