For years, perpetual futures trading has been the crown jewel of centralized exchanges like Binance and Bybit, generating volumes that dwarf spot markets. But now, a new generation of decentralized platforms is reshaping the landscape. Perpetual DEXs bring leverage, long and short positions, and derivatives trading fully on-chain, giving traders transparency, self-custody, and in many cases, features that centralized venues can’t match. The attraction is obvious: no middlemen holding your ass...