Derive Alternatives: Similar Derivatives Protocols Compared

Derive carries a risk grade of B- (35/100) and ranks #15 of 56 rated Derivatives protocols. Below are 55 Derivatives protocols ranked by safety — from safest to riskiest. 14 of these protocols score lower (safer) than Derive, and 41 score higher (riskier).

The single safest alternative is Toros (B, 26/100 — 9 points safer than Derive). See the Derive vs Toros comparison to weigh the tradeoffs.

Current Protocol

Derivatives

Risk

B-

Value

C+

TVL

$131M

Safety analysis →Investment analysis →

AlternativeRiskValueTVL

1

TorosSafer

B

D

$8M

2

B-

D+

$9M

3

B-

C-

$39M

4

B-

D-

$7M

5

Drift ProtocolSafer

B-

B-

$6M

6

B-

D+

$524,000

7

B-

B

$102M

8

Contango V2Safer

B-

D-

$6M

9

Helix PerpSafer

B-

C+

$465,000

10

B-

D

$61M

11

BorosSafer

B-

B

$10M

12

B-

D+

$153M

13

B-

C+

$18M

14

B-

D+

$50M

15

B-

D-

$10M

16

C+

C-

$35M

17

C+

B-

$19M

18

C+

C-

$46M

19

C+

D

$32M

20

C+

C+

$41M

21

C+

C-

$10M

22

Kinetiq Markets

C+

D

$32M

23

C+

C-

$10M

24

C+

C

$6M

25

C+

D-

$1M

26

C+

D

$31M

27

C+

D-

$4M

28

C+

C-

$13M

29

C+

B-

$14M

30

C+

C

$43M

31

C+

D

$588,000

32

C+

C

$353M

33

C+

D+

$30M

34

C+

D

$13M

35

C+

C+

$100M

36

C

C-

$44M

37

C

C

$120M

38

Jupiter Perpetual Exchange

C

B

$639M

39

C

D

$200,000

40

C

D

$7M

41

C

D

$9M

42

C

C-

$6M

43

C

D+

$3M

44

C

D+

$6M

45

C

C+

$131M

46

C

B-

$191M

47

C

B-

$196M

48

Hyperliquid HLP

C

B

$375M

49

C-

D+

$16M

50

C-

D+

$40M

51

C-

C

$3M

52

Thetanuts Finance

C-

B-

$668,000

53

C-

B-

$5.2B

54

C-

D

$1M

55

D+

D-

$2M

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