The decentralized perpetual trading platforms are having an exceptional month in October, with trading volume exceeding $1 trillion - a record that surpasses the previous high of $762 billion set in August. Notably, Hyperliquid has led the surge with $317.6 billion in trading volume.

The $1 trillion achievement indicates a significant advance as traders engage heavily in crypto positioning, with a record of $78 billion in trading volume occurring on just October 10th.

Change in monthly perps trading volume since February 2021 Source: DefiLlama

Despite this growth, decentralized platforms still trail behind centralized exchanges like Binance and Bybit, which recorded $69.3 billion and $26 billion, respectively, in trading volume within a single day. However, the gap appears to be narrowing as innovations in user-interactive interfaces on decentralized exchanges continue to attract traders.

Earlier breakthroughs in decentralized trading gained traction with leaders like Synthetix, dYdX, and GMX, but it’s noted that Hyperliquid stood out for effectively scaling operations, according to comments made by Kain Warwick.