Derive Alternatives: Similar Derivatives Protocols Compared

Derive carries a risk grade of B- (34/100) and ranks #14 of 57 rated Derivatives protocols. Below are 56 Derivatives protocols ranked by safety — from safest to riskiest. 13 of these protocols score lower (safer) than Derive, and 43 score higher (riskier).

The single safest alternative is Toros (B, 26/100 — 8 points safer than Derive). See the Derive vs Toros comparison to weigh the tradeoffs.

Current Protocol

Derivatives

Risk

B-

Value

C+

TVL

$112M

Safety analysis →Investment analysis →

AlternativeRiskValueTVL

1

TorosSafer

B

D

$7M

2

B-

D+

$8M

3

B-

C-

$39M

4

BorosSafer

B-

B

$8M

5

B-

D-

$6M

6

Drift ProtocolSafer

B-

B-

$643,000

7

B-

B

$80M

8

B-

D+

$50M

9

B-

D+

$450,000

10

Helix PerpSafer

B-

C+

$465,000

11

B-

D

$25M

12

Contango V2Safer

B-

D-

$6M

13

B-

D+

$128M

14

B-

C+

$17M

15

B-

C-

$30M

16

B-

D-

$10M

17

C+

C-

$7M

18

C+

B-

$19M

19

C+

D

$19M

20

C+

D-

$1M

21

Kinetiq Markets

C+

D

$32M

22

C+

D-

$226,000

23

C+

C

$353M

24

C+

C-

$9M

25

C+

C

$6M

26

C+

C+

$100M

27

C+

C

$36M

28

C+

C

$120M

29

C+

D

$588,000

30

C+

D

$25M

31

C+

C-

$21M

32

C+

C-

$10M

33

C+

D

$98,000

34

C+

D

$4M

35

C+

D

$10M

36

C+

C-

$3M

37

C+

B-

$11M

38

Jupiter Perpetual Exchange

C+

B

$706M

39

C+

B-

$42M

40

C

D+

$12M

41

C

D+

$5M

42

C

D+

$2M

43

C

C+

$112M

44

C

D

$10M

45

C

B-

$174M

46

C

B-

$174M

47

C

D+

$40M

48

C

C

$3M

49

C

D+

$15M

50

Hyperliquid HLP

C-

B

$223M

51

C-

C-

$18M

52

C-

C+

—

53

C-

B

$5.2B

54

Thetanuts Finance

C-

B-

$301

55

D+

D

$656,000

56

D+

D-

$2M

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