Merkle Trade (MKL)
Total Value Locked$5m
TVL by Chain
Aptos$5m
Key Metrics
Fees (Annualized)$1.24m
Fees 30d$101,573
Fees 7d$15,981
Fees 24h$1,709
Cumulative Fees$2.6m
Revenue (Annualized)$1.24m
Revenue 30d$101,573
Revenue 7d$15,981
Revenue 24h$1,709
Cumulative Revenue$1.59m
Perp Volume 30d$725.66m
Perp Volume 7d$111.75m
Perp Volume 24h$14.36m
Cumulative Perp Volume$29.086b
Market Cap$2.13m
$MKL Price$0.051
All Time High$0.47
All Time Low$0.043
Fully Diluted Valuation$5.1m
$MKL Volume 24h$1,346
CEX Volume-
DEX Volume$1,346(99.99% of total)
Total Raised$2.1m
Apr 1, 2024$2.1mRound: SeedInvestors: Hashed, Arrington Capital, Morningstar Ventures, Aptos Labs, Amber Group, Re7 Captial, Dorahacks, HashedSource: https://x.com/Merkle_Trade/status/1774732097120588261
Protocol Information
Merkle Trade is a Perp DEX that offers high leverage on a variety of pairs such as Crypto, Forex, and Commodity.
Category:Derivatives
Audits:
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: Fees paid by usersView code on GitHubRevenue: Treasury and token holders revenueView code on GitHubPerp Volume: Notional volume of all trades in the protocol, includes leverageView code on GitHubIncome Statement for Merkle Trade
| Q4 2025* | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | |
|---|---|---|---|---|---|
| Fees | $328,609 | $387,548 | $1.06m | $826,620 | $0 |
| Revenue | $328,609 | $387,548 | $513,645 | $361,402 | $0 |
| Earnings | $328,609 | $387,548 | $513,645 | $361,402 | $0 |