⚠︎ Risk warning: leveraged derivatives on unregulated platforms — you can lose everything you deposit. Not investment advice.
Perp DEX points & airdrop tracker
18 venues, 10 with a points programme their documentation currently describes as running. Every cell below restates something read in the venue's own docs on the date in the last column — nothing is inferred from a leaderboard, a tweet or a third-party tracker. Where the docs do not say what points become, the table says so, because that absence is the single most important fact about most of these programmes.
Two things you will not find here, by design: an estimated dollar value per point, and an allocation figure a venue has not published. Both are the numbers other trackers lead with, and both are guesses.
| Trade | |||||||
|---|---|---|---|---|---|---|---|
| Aster | Active | Aster Convergence: Stage 6 | Calculated weekly; five point categories × team boost, plus two-level referral points; weightings undisclosed | Docs: points "accumulate toward your $ASTER airdrop share at the conclusion of Stage 6". Conversion ratio, Stage 6’s share and the end date are not published. Published allocation: 53.5% of $ASTER supply (4.28B) sits in the tokenomics "Airdrop" category, released over ~80 months; how much of it Stage 6 receives is not stated | $ASTER · live (TGE claim window 17 Sep – 17 Oct 2025) | verified · Aster docs · Stage 6 | Open Aster |
| Extended | Active | Points program (continuous; no seasons) | Weekly, capped at 600,000 points per distribution; 67,225,227 distributed in total as of 8 Sep 2026 (docs) | Docs: points "do not currently represent a token … and do not create a present entitlement to receive tokens"; they "may be taken into account in connection with a future token distribution". | None documented | verified · Extended docs · Points program | Open Extended |
| GMX | Active | Rewards program (esGMX + GT on position fees, Arbitrum only) | Weekly epochs from Wednesday 00:00 UTC; each 1× of multiplier (0–10×, no default) returns 10% of the net eligible position fee in esGMX plus 20% of that value in GT | Docs: esGMX "is a non-transferable reward token" that vests into GMX subject to allowance and collateral; "GT has not completed its TGE and should not be represented as currently liquid, transferable, or immediately redeemable." No points programme is documented. Docs: rewards "may be reduced, paused, or discontinued at any time" — a promotional incentive, not a yield. | GMX · live (staking distribution suspended); GT · TGE not completed | verified · GMX docs · Rewards Program | Open GMX |
| GRVT | Active | Points programme (perp trading only) after a two-season airdrop | Seasons 1 and 2 carried 100,000,000 and 180,000,000 shares; the TGE article states the community airdrop "is fixed at 280,000,000 $GRVT", released in tranches over 12 months from 30 July 2026. Registration closed 27 July 2026; unregistered allocations were forfeited. | Docs: after multiplier elections "each share [is worth] approximately 0.6296 $GRVT". The rewards page lists a live points programme earned "from perpetual trading activity only"; what points earned after the token launch become is not stated on the pages read. Published allocation: 280,000,000 GRVT community airdrop pool (Seasons 1–2), per the "Everything About TGE" article The airdrop is complete and vesting; the row stays active only because the docs still describe a points programme with no stated conversion. | GRVT — "an ERC-20 token on Ethereum L1 with a fixed, hard-capped supply", live since the 30 July 2026 TGE | verified · GRVT help centre · Everything About TGE | Open GRVT |
| Nado | Active | Nado Points — Season 2 (from 21 May 2026) | Weekly pool scales with protocol volume from a 300K-point floor to a 950K-point cap; your share depends on trading activity "with adjustments for fee tier and toxicity". Points also come from NLP deposits and referrals. Season 1 balances, Trader Tier history and NFT multipliers carry over. | Docs: points "are non-transferable, cannot be traded, and are reflected directly within the Nado app". No token and no conversion are named. Season 2 cut the Season 1 bonus pool from 8,000,000 to 2,000,000 points, including 4,000,000 reserved for trading competitions set to 0 — the programme can change after points are earned. | None named in the docs | verified · Nado docs · Season 2 [Live] | Open Nado |
| Pacifica | Active | Points program | 10,000,000 points/week; snapshots Thursdays 00:00 UTC; organic trading only, self-trading and sybil activity excluded | No conversion or token-launch statement in the docs fetched. | None documented | verified · Pacifica docs · Points program | Open Pacifica |
| Paradex | Active | XP Season 3 | 4,000,000 XP/week, distributed every Wednesday; 1 Feb 2026 – TBD | No XP-to-token conversion statement in the docs. Pre Season + Season 1 distributed ~100M XP, Season 2 ~236M XP. | $DIME · live (Pro taker fees payable in DIME at a flat 40% discount; fee-revenue buybacks) | verified · Paradex docs · XP | Open Paradex |
| SoDEX | Active | SoPoints — Layer 1 Season (from 1 September 2026, 20 weeks) | Earned from spot and futures volume and open interest, Wealth and SLP vault holdings, and invites (25% of invitees’ points); squad and early-bird boosts stack to +70%. Season 1 (1 February – 1 August 2026) paid 1,000,000 SoPoints a week; weighting is "fine-tuned weekly" and unpublished. | Docs: SoPoints "will directly determine your allocation weight in the future $SOSO token airdrop". No conversion ratio is published. The airdrop destination is named but its size and ratio are not; treat points as an unquantified claim until SoDEX publishes one. | SOSO · live (ValueChain gas and governance) | verified · SoDEX docs · Layer 1 Season | Open SoDEX |
| Variational Omni | Active | Omni points programme (launched 17 December 2025) | Weekly, "every Friday at 0:00 UTC"; 3,000,000 points distributed retroactively at launch; the docs state "Weekly point distributions will conclude no later than the end of Q4 2026" (Q3 2026 when read on 22 September). | Token page (docs.variational.io/token/usdvar): "The Variational token ($VAR) will be launched in Q4 2026"; its Genesis Distribution is "Tokens airdropped proportionally to points holdings", "100% of these tokens will be unlocked at TGE". Neither the token page nor the points page gives a launch day or a total points count, so tokens per point cannot be computed. Published allocation: 32% of VAR supply (Genesis Distribution, airdropped proportionally to points holdings), per the $VAR token page The same token page also puts 18% in an Ecosystem Reserve and 50% with team and investors, locked for 12 months after TGE. Variational "reserves all rights to modify the points program or point totals at its sole discretion". | VAR — not live; launch stated for Q4 2026 | verified · Variational docs · Points | Open Variational Omni |
| Vest Markets | Active | Vest Markets points (weekly, no end date) | Distributed weekly on Wednesday for trading volume (currently boosted on equity markets), referred volume and Vest Liquidity Pool deposits; a one-time reward for connecting social accounts. Vest Exchange points were merged in. | Docs: points "will be used to determine rewards provided to users in the future", and "Vest Markets will publish additional information about rewards in the future". No token is named. The docs say there is "no firm end date to the points program" and publish no formula or conversion. | None named in the docs | verified · Vest Markets docs · Points | Open Vest Markets |
| ApeX Omni | Ended | Ape Season 1 (6 October – 28 December 2025) | 69,000,000 Ape Points over 12 weeks, "5,750,000 APE released each Wednesday at 08:00 UTC"; earned from perp, prediction-market and Grid Bot volume with boosters for Mantle deposits, APEX staking, balance and referrals. | The season page says "Ape Season 1 has officially concluded" and "Ape Season 2 is coming soon", with no date and no statement of what Ape Points convert to. APEX is live; Staking 4.0 pays rewards in APEX "funded by weekly buybacks from trading fee revenue". A separate ApeX Social points system (ASPs, 40% of fees paid as points, capped at 300 per 7-day epoch, spent on mystery boxes) is still documented; it pays bonuses and prizes, not a token allocation. | APEX · live | verified · ApeX docs · Ape Season 1 (Ended) | Open ApeX Omni |
| Hyperliquid | Ended | Points program, then the L1 phase (the docs number no seasons) | 1,000,000 points/week Nov 2023 – May 2024; 700,000/week May – Nov 2024 | Programme ended in November 2024 per the docs; no current season and no conversion statement is documented. HYPE is live; the fees docs say the assistance fund "converts trading fees to HYPE" and that HYPE in it "is burned". | HYPE · live | verified · Hyperliquid docs · Points | Open Hyperliquid |
| Veranta (ex-Avantis) | Ended | Veranta XP, Season 3 (3 September 2025 – 28 February 2026) | 40,000,000 AVNT, "4.00% of the Token Supply" (3% traders, 1% liquidity providers); up to 1 XP per dollar on fixed-fee trades, 1 XP per dollar per day deposited, referrers earn 10% of referees’ XP. The XP section of the docs is headed "[Ended]". | The Season 3 page gives a 40,000,000 AVNT reward pool ("up for grabs") but does not say how or when it was distributed. The docs describe no current points season; a $100,000 USDC trading competition runs 21 September – 26 October 2026. Published allocation: 40,000,000 AVNT (Season 3) The Terms of Service still describe XP as "solely for fun" and "not redeemable for cash or crypto assets", which sits oddly with a season paid in AVNT; read both before counting on a future season. | AVNT · live (Base, fixed 1,000,000,000 supply) | verified · Veranta docs · Season 3 [ENDED] | Open Veranta (ex-Avantis) |
| Derive | None documented | No retail points programme in the docs read; an Institutional Trading Rewards Program for market makers | — | The v3 developer docs (llms.txt index read in full) describe no points season. The Institutional Trading Rewards Program pays market makers "up to $500K USDC and 1M DRV per 28-day epoch, allocated by score, volume, and stDRV holdings". Only the v3 developer docs were read; retail campaigns, if any, would appear in the app. | DRV · live (collateral in every risk universe; staking lowers fee tiers) | verified · Derive docs · Institutional Trading Rewards | Open Derive |
| dYdX | None documented | No points programme; per-trade DYDX trading rewards exist in the protocol | — | Docs: the trading-rewards "C factor has been set to 0" and "since the C factor has been reduced to 0, traders now get rebates directly". No points or season programme is documented. | DYDX · live | verified · dYdX docs · Rewards | Open dYdX |
| edgeX | None documented | No current programme in the docs; a historical "Pre TGE Season" appears only as an allocation label | — | No points programme is described in the documentation read (50 pages). The EDGE token page allocates 5% of supply to a "Pre TGE Season" and 25% to a genesis distribution; the tokenomics page records that EDGE was airdropped to eligible users and is bought back and burned from revenue. Published allocation: 30% of EDGE supply to "Early Users" (25% genesis distribution + 5% Pre TGE Season), per the token page edgeX’s named docs host did not resolve on the verification date; the GitBook the site has always used for edgeX (linked from edgeX’s own official-links page) was read instead. The app advertised a “TradFi Trading Season” fee-rebate promotion and a “Trade to EARN” page on 2026-09-09; neither is a points programme described in the docs. | EDGE · live | verified · edgeX docs · EDGE | Open edgeX |
| Ondo Perps | None documented | No points programme in the docs | — | The docs index (39 user pages read) describes no points, rewards or airdrop programme. The Terms reserve the right to run "Campaigns" and to "modify, suspend, terminate, withdraw, or cancel any Campaign". An ONDO perp is listed as a market on the venue; the docs do not tie any token to trading on Ondo Perps. | None documented in the Ondo Perps docs | verified · Ondo Perps docs · index | Open Ondo Perps |
| Lighter | Unverified | Points Season 2 | Retail track: 200,000 points/week, distributed Fridays for Wednesday – Tuesday activity | The docs do not state what points redeem for, and no points-to-LIT conversion is documented. LIT is live and bought back from fee revenue. The market-makers page says "Points Season 2 ended on December 26th 2025"; the retail page and the overview still describe weekly Season 2 distribution and have not been updated with an end date. The docs do not say whether the retail track continues, so the status stays unverified until they do. Separately, the docs carry a "Lighter on Robinhood Chain Points" programme (terms effective 10 August 2026, weekly drops from Friday 21 August) whose page does not mention LIT; the 11 million LIT conversion pool for it is stated by Robinhood, not by Lighter's docs. | LIT · live | verified · Lighter docs · Points program | Open Lighter |
Rows are dated individually. A scheduled check flags any row whose verification is older than 45 days, and the page-level stamp at the bottom carries the oldest row's date, not the newest. Sort by any column; the default order is status, then name.
How to read the status column
- Active — the venue's docs describe a season or stage as currently distributing points, with a stated cadence.
- Ended — the docs record the programme as concluded, and no current season is documented. Hyperliquid is the reference case: its points became the HYPE airdrop in November 2024, and nothing official has replaced them since.
- None documented — we read the venue's docs in full on the verification date and found no points programme. That is a statement about the documentation we fetched, not proof one does not exist somewhere else; the source link shows what was read.
- Unverified — a programme is referenced but the docs we could reach do not describe it well enough to state cadence or status. We would rather show that gap than fill it.
What "what points become" means
This column quotes or closely paraphrases the venue's own statement, and only that. A programme with a documented airdrop commitment reads differently from one whose docs say points "do not currently represent a token", which reads differently again from one that says nothing. Those three are routinely flattened into "airdrop farming" elsewhere; here they stay separate, because the difference is the whole risk.
Points programmes also change without notice. Several venues reserve the right to adjust distributions at their discretion, and a season's pool, cadence or categories have changed between stages before. Treat every row as a snapshot of the documentation on its date, and check the source link before acting on it.
What prediction markets price
Three of the active programmes belong to venues without a live token: Extended, Pacifica, Variational Omni. For each, Polymarket runs a market on the token's fully diluted valuation (FDV) one day after launch. The tables below copy its prices as fetched on 2026-10-05. They are market data, not our estimate, and not a recommendation to trade either the venue or the market.
Read every price as two bets in one. Each market resolves "No" at every threshold if no token launches by its deadline, so a price is the market's probability that the token launches in time and trades above that FDV. A low number can mean a low valuation or doubt that a token arrives at all. The market cannot tell you which.
Extended
Priced at even odds or better up to $150M (67%), below even from $300M (37%). No-launch deadline: December 31, 2026. Lifetime volume across the ladder: $4M.
| FDV above | Yes price | Bid – ask | Volume | |
|---|---|---|---|---|
| $150M | 67% | 66% – 68% | $645k | |
| $300M | 37% | 36% – 37% | $2M | |
| $500M | 20% | 19% – 20% | $1M | |
| $800M | 11% | 10% – 12% | $254k | |
| $1B | 4.5% | 4.4% – 4.7% | $119k | |
| $2B | 3.3% | 2.7% – 3.8% | $114k | |
| $3B | 1.9% | 1.6% – 2.3% | $95k |
Source: Extended FDV above ___ one day after launch? on Polymarket, via its public API, 2026-10-05. Token status per the venue's docs: None documented.
Pacifica
Every threshold, down to $50M, is priced below even odds (23% at the lowest). No-launch deadline: December 31, 2026. Lifetime volume across the ladder: $165k.
| FDV above | Yes price | Bid – ask | Volume | |
|---|---|---|---|---|
| $50M | 23% | 22% – 23% | $17k | |
| $100M | 21% | 20% – 23% | $7k | thin |
| $200M | 5.9% | 5.3% – 6.4% | $3k | thin |
| $300M | 4.0% | 3.2% – 4.9% | $45k | |
| $500M | 3.9% | 2.9% – 4.9% | $30k | |
| $800M | 4.1% | 3.1% – 5.1% | $21k | above a lower threshold |
| $1B | 2.6% | 2.0% – 3.2% | $16k | |
| $2B | 2.5% | 2.3% – 2.7% | $13k | |
| $3B | 1.4% | 0.3% – 2.4% | $14k |
Source: Pacifica FDV above ___ one day after launch? on Polymarket, via its public API, 2026-10-05. Token status per the venue's docs: None documented.
Variational Omni
Priced at even odds or better up to $1B (61%), below even from $2B (30%). No-launch deadline: December 31, 2027. Lifetime volume across the ladder: $3M.
| FDV above | Yes price | Bid – ask | Volume | |
|---|---|---|---|---|
| $100M | 100% | 100% – 100% | $82k | |
| $200M | 97% | 97% – 98% | $77k | |
| $300M | 95% | 94% – 96% | $268k | |
| $500M | 84% | 83% – 84% | $953k | |
| $800M | 71% | 70% – 71% | $466k | |
| $1B | 61% | 60% – 61% | $635k | |
| $2B | 30% | 30% – 31% | $333k | |
| $3B | 13% | 13% – 14% | $133k | |
| $4B | 6.4% | 5.5% – 7.3% | $163k | |
| $5B | 4.7% | 4.4% – 4.9% | $93k |
Source: Variational FDV above ___ one day after launch? on Polymarket, via its public API, 2026-10-05. Token status per the venue's docs: VAR — not live; launch stated for Q4 2026.
"Thin" marks a threshold with under $10k of lifetime volume; its price can move on a single order. "Above a lower threshold" marks a price higher than one at a lower FDV, which cannot be coherent: a token above $1B is necessarily above $800M. Both are signs the ladder is not a reliable forecast at that point.
Why there is still no value per point. Turning an FDV into a value per point needs two more numbers: the share of token supply that goes to points holders, and the number of points outstanding when they convert. None of these venues publishes the share, and none states that points convert to a token at all (see "What points become" above). Any per-point figure would be built on a guess, which this page does not publish.
Per-venue detail
The deep pages carry the full mechanics and the reasoning behind each status: Hyperliquid, Aster and Lighter. For the venues without a dedicated points page, the comparison pages hold the verified detail — Paradex, Extended, Pacifica and edgeX. The earning comparison puts points beside the other income routes on each venue.
FAQ
Which perp DEX points programmes are still running?
The rows marked Active. Each one links to the documentation page that describes the current season, with the date we read it. The count at the top of the page is computed from the same data, so it moves when a row does.
Do points guarantee an airdrop?
Only where the venue's docs say so, and even then the conversion ratio and total allocation are usually unpublished. Where the docs are silent or explicitly say points are not a token entitlement, the table repeats that wording. Trading to accumulate points costs real fees and carries real risk for an outcome the venue has not committed to.
Why is there no value-per-point estimate?
Because every input to one — the allocation, the conversion ratio, the token's launch valuation — is either unpublished or a market guess. Publishing a number built on three guesses would be a precise-looking way of saying we do not know.