InformationTVLFees and RevenuePerp Volume

Merkle Trade (MKL)

Total Value Locked$5.03m

TVL by Chain

Aptos$5.03m

Key Metrics

Fees (Annualized)$1.54m

Fees 30d$126,331

Fees 7d$25,610

Fees 24h$2,421

Cumulative Fees$2.03m

Revenue (Annualized)$1.54m

Revenue 30d$126,331

Revenue 7d$25,610

Revenue 24h$2,421

Cumulative Revenue$1.01m

Perp Volume 30d$793.08m

Perp Volume 7d$189.27m

Perp Volume 24h$20.65m

Cumulative Perp Volume$24.915b

Market Cap$1.88m

$MKL Price$0.061

All Time High$0.47

All Time Low$0.057

Fully Diluted Valuation$6.13m

$MKL Volume 24h$1,272

CEX Volume-

DEX Volume$1,272(100% 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:

WebsiteTwitter

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 GitHub

Competitors

Mirage Protocol ($849,708)TsunamiX ($317,707)Thetis Perps ($168,880)AGDEX ($1,233)

Income Statement for Merkle Trade

Q3 2025*Q2 2025Q1 2025Q4 2024
Fees$138,993$1.06m$826,620$0
Revenue$138,993$513,645$361,402$0
Earnings$138,993$513,645$361,402$0