Total Value Locked$7.11m
TVL by Chain
Ethereum$4.9m
Base$832,664
Arbitrum$630,911
OP Mainnet$407,604
Avalanche$192,771
Gnosis$113,898
Polygon$30,350
BSC$5,800
Scroll$601.93
Linea$17.68
Key Metrics
Fees 30d$1,235
Fees 30d by chain
Ethereum$907.57
Arbitrum$121.31
Gnosis$82
Base$79.29
Avalanche$34.54
OP Mainnet$6.35
Polygon$2.37
BSC$1.57
Scroll$0.02
Linea$0
Fees 7d$23.44
Arbitrum$16.09
Avalanche$6.96
Ethereum$0.14
OP Mainnet$0.13
Base$0.12
BSC$0
Gnosis$0
Linea$0
Polygon$0
Scroll$0
Fees 24h$0.02
OP Mainnet$0.02
Arbitrum$0
Avalanche$0
Base$0
BSC$0
Ethereum$0
Gnosis$0
Linea$0
Polygon$0
Scroll$0
Cumulative Fees$1.35m
Ethereum$865,260
Arbitrum$171,410
Base$167,243
OP Mainnet$108,061
Avalanche$14,966
Gnosis$7,228
Scroll$4,425
Polygon$4,237
Linea$2,441
BSC$1,352
Revenue 30d$1,235
Revenue 30d by chain
Ethereum$907.57
Arbitrum$121.31
Gnosis$82
Base$79.29
Avalanche$34.54
OP Mainnet$6.35
Polygon$2.37
BSC$1.57
Scroll$0.02
Linea$0
Revenue 7d$23.44
Arbitrum$16.09
Avalanche$6.96
Ethereum$0.14
OP Mainnet$0.13
Base$0.12
BSC$0
Gnosis$0
Linea$0
Polygon$0
Scroll$0
Revenue 24h$0.02
OP Mainnet$0.02
Arbitrum$0
Avalanche$0
Base$0
BSC$0
Ethereum$0
Gnosis$0
Linea$0
Polygon$0
Scroll$0
Cumulative Revenue$1.32m
Ethereum$863,632
Base$165,044
Arbitrum$154,099
OP Mainnet$107,337
Avalanche$14,963
Gnosis$6,927
Scroll$4,424
Polygon$4,236
Linea$2,432
BSC$1,329
Holders Revenue 30d$1,235
Holders Revenue 30d by chain
Ethereum$907.57
Arbitrum$121.31
Gnosis$82
Base$79.29
Avalanche$34.54
OP Mainnet$6.35
Polygon$2.37
BSC$1.57
Scroll$0.02
Linea$0
Holders Revenue 7d$23.44
Arbitrum$16.09
Avalanche$6.96
Ethereum$0.14
OP Mainnet$0.13
Base$0.12
BSC$0
Gnosis$0
Linea$0
Polygon$0
Scroll$0
Holders Revenue 24h$0.02
OP Mainnet$0.02
Arbitrum$0
Avalanche$0
Base$0
BSC$0
Ethereum$0
Gnosis$0
Linea$0
Polygon$0
Scroll$0
Cumulative Holders Revenue$1.32m
Ethereum$863,632
Base$165,044
Arbitrum$154,099
OP Mainnet$107,337
Avalanche$14,963
Gnosis$6,927
Scroll$4,424
Polygon$4,236
Linea$2,432
BSC$1,329
Perp Volume 30d$0
Perp Volume 30d by chain
Arbitrum$0
Avalanche$0
Base$0
BSC$0
Ethereum$0
Gnosis$0
Linea$0
OP Mainnet$0
Polygon$0
Scroll$0
Perp Volume 7d$0
Arbitrum$0
Avalanche$0
Base$0
BSC$0
Ethereum$0
Gnosis$0
Linea$0
OP Mainnet$0
Polygon$0
Scroll$0
Perp Volume 24h$0
Arbitrum$0
Avalanche$0
Base$0
BSC$0
Ethereum$0
Gnosis$0
Linea$0
OP Mainnet$0
Polygon$0
Scroll$0
Cumulative Perp Volume$4.494b
Ethereum$2.103b
Arbitrum$1.623b
OP Mainnet$530.62m
Base$104.91m
Gnosis$81.77m
Polygon$33.14m
Avalanche$15.32m
BSC$1.27m
Linea$449,922
Scroll$59,560
Open Interest$0
Active Loans$85.76m
Protocol Information
Contango lets you loop anything on-chain. You can create leverage (re)staking positions, arb rates differentials, farm points, or simply go long or short like a perp at low funding
Audits:
Methodology
TVL: Counts the tokens locked in the positions to be used as margin + user's tokens locked in the protocol's vault. Borrowed coins are discounted from the TVL, so only the position margins are counted. The reason behind this is that the protocol only added the user's margin to the underlying money market. Adding the borrowed coins to the TVL can be used as a proxy for the protocol's open interest.View code on GitHubFees: Trading fees include 0.05% for correlated pairs and 0.25% for non-correlated pairs, plus automation fees for TP/SL orders and flash loan fees.View code on GitHubRevenue: Revenue consists of the service fees collected from trades on both correlated and non-correlated pairs.View code on GitHubHolders Revenue: Holders revenue represents 100% of the trading fees which are distributed to stakers.View code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHubCompetitors
Contango V2 history
TVL is the default DefiLlama definition, which excludes Active Loans. Daily values are UTC snapshots from Dec 6, 2023 to Oct 27, 2026.
All-time high TVL: $72.31m on Dec 17, 2024. All-time low TVL: $435,442 on Dec 6, 2023.
Daily TVL, Sep 28, 2026 to Oct 27, 2026
| Date | TVL |
|---|---|
| Sep 28, 2026 | $13.67m |
| Sep 29, 2026 | $13.49m |
| Sep 30, 2026 | $13.86m |
| Oct 1, 2026 | $9.41m |
| Oct 2, 2026 | $13.53m |
| Oct 3, 2026 | $13.26m |
| Oct 4, 2026 | $13.37m |
| Oct 5, 2026 | $13.25m |
| Oct 6, 2026 | $13.09m |
| Oct 7, 2026 | $13.26m |
| Oct 8, 2026 | $12.74m |
| Oct 9, 2026 | $12.22m |
| Oct 10, 2026 | $12.35m |
| Oct 11, 2026 | $12.78m |
| Oct 12, 2026 | $11.83m |
| Oct 13, 2026 | $11.39m |
| Oct 14, 2026 | $11.19m |
| Oct 15, 2026 | $10.6m |
| Oct 16, 2026 | $10.79m |
| Oct 17, 2026 | $7.36m |
| Oct 18, 2026 | $10.46m |
| Oct 19, 2026 | $10.4m |
| Oct 20, 2026 | $7.25m |
| Oct 21, 2026 | $7.45m |
| Oct 22, 2026 | $7.5m |
| Oct 23, 2026 | $7.24m |
| Oct 24, 2026 | $7.32m |
| Oct 25, 2026 | $7.22m |
| Oct 26, 2026 | $7.07m |
| Oct 27, 2026 | $7.04m |
TVL at each month end, May 2024 to Oct 2026
| Date | TVL |
|---|---|
| May 31, 2024 | $14.63m |
| Jun 30, 2024 | $22m |
| Jul 31, 2024 | $36.01m |
| Aug 31, 2024 | $29.63m |
| Sep 30, 2024 | $36.88m |
| Oct 31, 2024 | $48.18m |
| Nov 30, 2024 | $64.06m |
| Dec 31, 2024 | $43.45m |
| Jan 31, 2025 | $55.95m |
| Feb 28, 2025 | $42.45m |
| Mar 31, 2025 | $31.41m |
| Apr 30, 2025 | $30.11m |
| May 31, 2025 | $33.96m |
| Jun 30, 2025 | $37.82m |
| Jul 31, 2025 | $40.53m |
| Aug 31, 2025 | $39.51m |
| Sep 30, 2025 | $36.42m |
| Oct 31, 2025 | $29.65m |
| Nov 30, 2025 | $16.5m |
| Dec 8, 2025 | $15.85m |
| May 31, 2026 | $6.51m |
| Jun 8, 2026 | $6.16m |
| Sep 30, 2026 | $13.86m |
| Oct 27, 2026 (latest) | $7.04m |
TVL at each year end, Dec 31, 2023 to Dec 8, 2025
| Date | TVL |
|---|---|
| Dec 31, 2023 | $785,466 |
| Dec 31, 2024 | $43.45m |
| Dec 8, 2025 | $15.85m |
Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $104,861 | $104,861 | $104,861 |
| Dec 2024 | $194,677 | $194,677 | $194,677 |
| Jan 2025 | $172,425 | $150,225 | $150,225 |
| Feb 2025 | $137,028 | $137,028 | $137,028 |
| Mar 2025 | $116,701 | $116,701 | $116,701 |
| Apr 2025 | $70,758 | $70,758 | $70,758 |
| May 2025 | $96,054 | $96,054 | $96,054 |
| Jun 2025 | $70,233 | $70,233 | $70,233 |
| Jul 2025 | $92,992 | $92,992 | $92,992 |
| Aug 2025 | $64,273 | $64,273 | $64,273 |
| Sep 2025 | $73,077 | $73,077 | $73,077 |
| Oct 2025 | $38,948 | $38,948 | $38,948 |
| Nov 2025 | $49,039 | $49,039 | $49,039 |
| Dec 2025 | $18,998 | $18,998 | $18,998 |
| Jan 2026 | $8,253 | $8,253 | $8,253 |
| Feb 2026 | $13,388 | $13,388 | $13,388 |
| Mar 2026 | $2,945 | $2,945 | $2,945 |
| Apr 2026 | $15,180 | $15,180 | $15,180 |
| May 2026 | $1,638 | $1,638 | $1,638 |
| Jun 2026 | $596.78 | $596.78 | $596.78 |
| Jul 2026 | $833.06 | $833.06 | $833.06 |
| Aug 2026 | $1,157 | $1,157 | $1,157 |
| Sep 2026 | $1,396 | $1,396 | $1,396 |
| Oct 2026 (to date) | $1,173 | $1,173 | $1,173 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/contango-v2
Frequently asked questions
What is Contango V2's TVL?
As of Oct 27, 2026, Contango V2 has $7.11m in total value locked. TVL has decreased 45.7% over the past 30 days.
What chains does Contango V2 operate on?
Contango V2 operates on 10 chains: Ethereum, Base, Arbitrum, OP Mainnet, and Avalanche and 5 others. Ethereum holds the largest share at 68.9%.
How much has Contango V2 generated in fees and revenue?
Over the past 30 days, Contango V2 generated $1,235 in fees. Of that, $1,235 was protocol revenue. Based on the trailing year, the annualized rate is $117,958 in fees and $117,958 in revenue.
How does Contango V2's TVL compare to similar protocols?
Among Derivatives protocols tracked by DefiLlama, Contango V2 ranks #26 by TVL. The category holds $1.972b across 426 protocols, and Contango V2 accounts for 0.4% of that total. Similar protocols include Lynx, RubyDex, ApeX Pro, Vest Markets, Jarvis Network, Satori Perp, Everstrike, LogX V2, Defx, and MetalSwap.
How much has been borrowed through Contango V2?
As of Oct 27, 2026, Contango V2 has $85.76m in active loans.