#CEXvsDEX101 1. CEX Dominates Perpetual Swap Trading

As of June 3, 2025, CEXs now represent over 85% of the perpetual swap market—a new all-time high.

2. Spot Trading Shows Growth for DEXs

On the spot market side, DEXs are growing steadily: from ~9.4% share in January 2024 to nearly 16% of total spot volume by January 2025