Ask about Substance Exchange · freeTotal Value Locked$0
TVL by Chain
Arbitrum$0
ZetaChain$0
Key Metrics
Cumulative Fees$464,618
Cumulative Fees by chain
Arbitrum$397,247
ZetaChain$67,371
Cumulative Perp Volume$526.74m
Cumulative Perp Volume by chain
Arbitrum$461.23m
ZetaChain$65.51m
Protocol Information
Substance Exchange is a derivatives protocol that leads the shift towards decentralized trading. SubstanceX offers futures and options, and achieves a pop-up-free trading experience through 1-click technology.
Methodology
TVL: The TVL of SubstanceX is equal to the total value of underlying assets locked in the USDX contract.View code on GitHubFees: Fees paid by usersView code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHubCompetitors
Substance Exchange history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Nov 23, 2023 to Oct 27, 2026.
All-time high TVL: $1.25m on Dec 3, 2023. All-time low TVL: $16,760 on May 29, 2026.
Daily TVL, Sep 28, 2026 to Oct 27, 2026
| Date | TVL |
|---|---|
| Sep 28, 2026 | $0 |
| Sep 29, 2026 | $0 |
| Sep 30, 2026 | $0 |
| Oct 1, 2026 | $0 |
| Oct 2, 2026 | $0 |
| Oct 3, 2026 | $0 |
| Oct 4, 2026 | $0 |
| Oct 5, 2026 | $0 |
| Oct 6, 2026 | $0 |
| Oct 7, 2026 | $0 |
| Oct 8, 2026 | $0 |
| Oct 9, 2026 | $0 |
| Oct 10, 2026 | $0 |
| Oct 11, 2026 | $0 |
| Oct 12, 2026 | $0 |
| Oct 13, 2026 | $0 |
| Oct 14, 2026 | $0 |
| Oct 15, 2026 | $0 |
| Oct 16, 2026 | $0 |
| Oct 17, 2026 | $0 |
| Oct 18, 2026 | $0 |
| Oct 19, 2026 | $0 |
| Oct 20, 2026 | $0 |
| Oct 21, 2026 | $0 |
| Oct 22, 2026 | $0 |
| Oct 23, 2026 | $0 |
| Oct 24, 2026 | $0 |
| Oct 25, 2026 | $0 |
| Oct 26, 2026 | $0 |
| Oct 27, 2026 | $0 |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $571,631 |
| Dec 31, 2024 | $578,938 |
| Jan 31, 2025 | $520,684 |
| Feb 28, 2025 | $512,269 |
| Mar 31, 2025 | $39,452 |
| Apr 30, 2025 | $39,350 |
| May 31, 2025 | $39,372 |
| Jun 30, 2025 | $38,831 |
| Jul 31, 2025 | $39,283 |
| Aug 31, 2025 | $39,377 |
| Sep 30, 2025 | $37,649 |
| Oct 31, 2025 | $37,139 |
| Nov 30, 2025 | $36,557 |
| Dec 31, 2025 | $35,229 |
| Jan 31, 2026 | $32,988 |
| Feb 28, 2026 | $18,857 |
| Mar 31, 2026 | $20,049 |
| Apr 30, 2026 | $18,827 |
| May 31, 2026 | $18,001 |
| Jun 30, 2026 | $17,431 |
| Jul 31, 2026 | $0 |
| Aug 31, 2026 | $0 |
| Sep 30, 2026 | $0 |
| Oct 27, 2026 (latest) | $0 |
TVL at each year end, Dec 31, 2023 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2023 | $1.05m |
| Dec 31, 2024 | $578,938 |
| Dec 31, 2025 | $35,229 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/substance-exchange
Frequently asked questions
What is Substance Exchange's TVL?
As of Oct 27, 2026, Substance Exchange has $0 in total value locked.
What chains does Substance Exchange operate on?
Substance Exchange operates on 2 chains: Arbitrum and ZetaChain.
How does Substance Exchange's TVL compare to similar protocols?
Among Derivatives protocols tracked by DefiLlama, Substance Exchange ranks #320 by TVL. The category holds $1.97b across 426 protocols, and Substance Exchange accounts for 0% of that total. Similar protocols include GMX EVM, AZverse Perps, Apex Omni, Aevo Perps, MUX Perps, Antarctic, Contango V2, Gains Network, Ostium, and Evedex.