Ask about Narwhal Finance · freeTotal Value Locked$1,268
TVL by Chain
Arbitrum$514.59
Monad$379.96
BSC$373.13
Key Metrics
Cumulative Fees$9
Cumulative Fees by chain
Monad$9
Cumulative Perp Volume$2,376
Cumulative Perp Volume by chain
Monad$2,376
Total Raised$1m
Mar 24, 2023$1mRound: SeedInvestors: Animoca Ventures, Hailstone Ventures
May 22, 2023Round: StrategicInvestors: Animoca Ventures, Hailstone Ventures
Protocol Information
Leverage trading with boundless asset selection. Seamless experience for #SocialTrading. Bringing the finest trading experience to Arbitrum and BNB chain.
Audits:
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: Fees include: (1) Open fees from Open events, (2) Close fees, rollover fees, and positive funding fees from Close events. All fees are in USDC.View code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHubCompetitors
Narwhal Finance history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Jul 20, 2023 to Oct 27, 2026.
All-time high TVL: $2.11m on Aug 3, 2023. All-time low TVL: $378 on Mar 26, 2025.
Daily TVL, Sep 28, 2026 to Oct 27, 2026
| Date | TVL |
|---|---|
| Sep 28, 2026 | $1,268 |
| Sep 29, 2026 | $1,268 |
| Sep 30, 2026 | $1,268 |
| Oct 1, 2026 | $1,268 |
| Oct 2, 2026 | $1,268 |
| Oct 3, 2026 | $1,268 |
| Oct 4, 2026 | $1,268 |
| Oct 5, 2026 | $1,268 |
| Oct 6, 2026 | $1,268 |
| Oct 7, 2026 | $1,268 |
| Oct 8, 2026 | $1,268 |
| Oct 9, 2026 | $1,268 |
| Oct 10, 2026 | $1,267 |
| Oct 11, 2026 | $1,267 |
| Oct 12, 2026 | $1,267 |
| Oct 13, 2026 | $1,267 |
| Oct 14, 2026 | $1,268 |
| Oct 15, 2026 | $1,267 |
| Oct 16, 2026 | $1,267 |
| Oct 17, 2026 | $1,267 |
| Oct 18, 2026 | $1,267 |
| Oct 19, 2026 | $1,267 |
| Oct 20, 2026 | $1,267 |
| Oct 21, 2026 | $1,268 |
| Oct 22, 2026 | $1,268 |
| Oct 23, 2026 | $1,266 |
| Oct 24, 2026 | $1,267 |
| Oct 25, 2026 | $1,267 |
| Oct 26, 2026 | $1,267 |
| Oct 27, 2026 | $1,266 |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $1,222 |
| Dec 31, 2024 | $1,215 |
| Jan 31, 2025 | $1,218 |
| Feb 28, 2025 | $1,207 |
| Mar 31, 2025 | $1,210 |
| Apr 30, 2025 | $1,095 |
| May 31, 2025 | $895 |
| Jun 30, 2025 | $895 |
| Jul 31, 2025 | $894 |
| Aug 31, 2025 | $888 |
| Sep 30, 2025 | $888 |
| Oct 31, 2025 | $888 |
| Nov 30, 2025 | $1,361 |
| Dec 31, 2025 | $1,655 |
| Jan 31, 2026 | $1,266 |
| Feb 28, 2026 | $1,268 |
| Mar 31, 2026 | $1,267 |
| Apr 30, 2026 | $1,268 |
| May 31, 2026 | $1,266 |
| Jun 30, 2026 | $1,267 |
| Jul 31, 2026 | $1,267 |
| Aug 31, 2026 | $1,268 |
| Sep 30, 2026 | $1,268 |
| Oct 27, 2026 (latest) | $1,266 |
TVL at each year end, Dec 31, 2023 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2023 | $6,150 |
| Dec 31, 2024 | $1,215 |
| Dec 31, 2025 | $1,655 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/narwhal-finance
Frequently asked questions
What is Narwhal Finance's TVL?
As of Oct 27, 2026, Narwhal Finance has $1,268 in total value locked. TVL has decreased <0.1% over the past 30 days.
What chains does Narwhal Finance operate on?
Narwhal Finance operates on 3 chains: Arbitrum, Monad, and BSC. Arbitrum holds the largest share at 40.6%.
How does Narwhal Finance's TVL compare to similar protocols?
Among Derivatives protocols tracked by DefiLlama, Narwhal Finance ranks #202 by TVL. The category holds $1.971b across 426 protocols, and Narwhal Finance accounts for <0.1% of that total. Similar protocols include AZverse Perps, Apex Omni, MUX Perps, Contango V2, AlphaX, SYMMIO, ApeX Pro, MUFEX, Vest Markets, and Lynx.