Visualizing Perp DEX points & OTC floors📊
I mapped out the recent OTC floors for 30 Perp DEXes. The spread is massive—from pennies to double digits
What stands out is how the private market is clearly separating the field into two tiers:
Premium Infra Layer: Projects like edgeX & GRVT commanding strong double-digit valuations ($15-$25)
The Farming Zone: The majority of the pack fighting for liquidity in the sub-$1 range.
It seems smart money is currently paying a premium for heavy backing and ZK-tech stacks over pure farming plays.
Are these premiums justified, or is the gap too wide? 👇
Perp DEX points & OTC floors
Not estimates. These are actual recent prices where points have traded in OTC groups.
Volume is still low, so don’t take it as gospel just good reference for the meta.
🔹Variational
→ Arbitrum - raised $11.8M
→ Market structure infrastructure angle
→ OTC floor: $5 per point
🔹Extended
→ Starknet - raised $6.5M
→ Starknet native perp venue
→ OTC floor: $2.40 per point
🔹GRVT
→ zkSync - Early Access - raised $33.3M
→ High-capital zk perp venue
→ OTC floor: $15 per point
🔹 edgeX
→ StarkWare zk-rollup — Mainnet
→ ZK execution perp infra
→ OTC floor: $25 per point
🔹Paradex
→ Starknet - Mainnet - raised $35M
→ ZK perps backed by Starkware stack
→ OTC floor: $0.18 per point
🔹 Pacifica
→ Solana, future L1
→ Solana-native perp DEX
→ OTC floor: $0.25 per point
🔹Backpack
→ Hybrid Cex - Solana - raised $37M
→ Orderbook CEX Solana infra expansion
→ OTC floor: $0.19 per point
🔹Reya
→ Arbitrum own L2 infra
→ Liquidity infra perp market structure
→ OTC floor: $0.02 per point
🔹 Ethereal
→ Perp Infra, backed by Ethena
→ OTC floor: $0.01 per point
There are 30 perp DEXes live or in testnet TODAY, farming meta is fragmented but very alive.
OTC volumes are still low, so these prices don’t define true VALUATIONS, just useful to track how private markets are marking these ecosystems.
> Now, are these prices cheap?
It depends. For several of these protocols, community expectations and private estimates imply much higher valuations per point.
OTC just gives you actual clearing prices where transactions happened but keep in mind that:
- volume = low
- participants = limited
- pricing = not final
Still, it’s one of the few places where you can see real bids/asks instead of pure narratives.
I’ll try to update this every once in a while so we can track if OTC floors go up or down as we get closer to token events.
Bookmark for later. 📌