ApeX Protocol APEX

Revenue fadingRank#33▼3Score36

Revenue −21% over 30 days. Also: part of holders revenue is paid out.

Derivatives, Ethereum, Arbitrum, 192 days of data

Market cap

$28.2M

price $0.178 · 7d −15.8% · 30d −23.4%

FDV $88.4M (3.1× market cap)

source defillama

Counted per year

$1.3M

holders revenue of the last 30 days, $145k, × 365 ÷ 30, × type factor 0.75 (a mixed model counts 75%)

Mixedbuyback share 100%

Returns 6.3% of its market cap a year, using 100¢ of every $1 it earns.

Not a buyback: counts for 75% in the multiple (type factor 0.75), so the denominator is $1.3M instead of $1.8M.

Multiple

21.2×

peer median 20.7× (Derivatives, 6 tokens), against 21.2× here

Run-rate

19.6×

last 7 days $37k × 52 × 0.75 (type factor) = $1.4M a year

last week's payout in line with the 30-day pace

What we checked

Valuation
Multiple 21.2× (type factor 0.75: a mixed model counts 75%), in line with its Derivatives peers (median 20.7×, 6 tokens). The group's largest earner Hyperliquid trades at 20.2×: 1.0× dearer per dollar returned to holders. On total revenue: 15.9×, 1.4× dearer than the revenue peer median.
Distribution
Mixed: Part buyback, part distribution or burn; the exact split is not known. Holders got $145k of $145k revenue in 30 days → buyback share 100%. DefiLlama: “Fees going to governance token holders”
Sustainability
Holders were paid on 30 of 30 days (100%); largest single day 7% of the month's holders revenue; paid to holders this week: 53% of the best week in 90 days. Revenue −3% over 7 days and −21% over 30 days, price −23% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

No flags today: no active sell signal, and nothing in the data of this token needs a caveat.

How the buyback really works

Not researched yet. Everything above comes from DefiLlama and market data only.

Holders revenue / revenue (30d): $145k / $145k; last 30 closed days
To holders: Returns 6.3% of its market cap a year
FDV / dilution: $88.4M / 3.1×; FDV ÷ market cap
Price 7d / 30d: −15.8% / −23.4%
Revenue growth 7d / 30d: −3% / −21%; versus the period before
Divergence: 0.00; revenue growth minus price growth, 30d
DEX liquidity: $279k; DexScreener, representative pools
24h volume: $1.4M; all markets, CoinGecko
Unlocks 30d: —; no unlock schedule for this token
Revenue multiple: 15.9×; market cap ÷ revenue per year
Fee multiple: 8.0×; market cap ÷ fees per year
Distance to peak: 53%; this week ÷ best week of 90 days
Data since: May 4; first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)▲ ▼ signal days (history below)

Multiple over time

today 21.2× (scored) · peer median 20.7×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

Signal history of this token: date, type, price at the signal, price after 7 and 30 days, change since the signal and the outcome
Date	Signal	Price then	After 7d	After 30d	Since	Outcome
November 5, 2026	Revenue jumpclosed Nov 7: the condition no longer holds	$0.212	—	—	−16%	30-day check: day 7
October 1, 2026	Multiple below medianclosed Nov 1: the condition no longer holds	$0.21	−14%	—	−15%	not counted

Versus peers

Derivatives · 6 tokens · median multiple 20.7× · Hyperliquid is valued 601.1× higher. Per dollar that counts for holders, ApeX Protocol is 1.0× dearer.

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
Token	Distribution	Multiple	Revenue multiple	Buyback share	To holders 30d	Market cap	Rev. growth 30d
Lighter	Buyback	14.6×	11.8×	81%	$4.4M	$775.1M	+14%
edgeX	Buyback	16.0×	7.0×	44%	$622k	$120.8M	−43%
Hyperliquidleader	Buyback + burn	20.2×	20.2×	100%	$68.8M	$16.94B	−3%
ApeX Protocolthis token	Mixed	21.2×	15.9×	100%	$145k	$28.2M	−21%
GMX	Distribution	37.0×	13.5×	73%	$354k	$79.6M	+15%
dYdX	Distribution	51.6×	25.8×	100%	$240k	$75.2M	−15%

Score build-up36 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

36of 100#33▼3top 64%

Valuation 14.1Momentum 10.3Divergence 0.0Quality 16.2penalties −5= 35.5

Valuation35%

40Valuation 40.3: HR half 44.2 (multiple 21.24×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 36.3 (revenue peer value 0.74×; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.

Momentum25%

41Momentum 41.1: m = 0.5·g7 −0.032 + 0.3·(ln(day jump 0.82) clamped ±1.5 = −0.204) + 0.2·g30 −0.237 = −0.125; 0 at ≤−0.7, 50 at 0, 100 at ≥1.1.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.

Divergence20%

0Divergence 0.0: d = g30 − p30 = 0.000; 0 at ≤0, 100 at ≥1.5.d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.

Quality20%

81Quality 80.9: mean of days HR>0 100% → 100.0 (0 at ≤30%, 100 at ≥90%), largest day 7% of HR30 → 100.0 (0 at ≥60%, 100 at ≤15%), distance to peak 0.53 → 42.7 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).

Penalty −5 (dilution_above_2): dilution ratio 3.14 above 2.

Penalties−5

−5Dilution ratio above 2dilution ratio 3.14 above 2

9 rules not applied, 3 wait for research data.

Where the numbers come from

Revenue source: 2 active children; DefiLlama adapter per child
Price and market cap: defillama / defillama; latest fetch
Scored on: November 11, 2026; as-of date of the last compute run
On-chain verified: not yet; not checked yet

Protocols behind this token2 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

ApeX Pro
Derivatives · Ethereum
type unclear · source text
“Fees going to governance token holders”
Fees going to governance token holders
adapter on GitHub ↗
Apex Omni
Derivatives · Ethereum, Arbitrum
type mixed · source label
“Token Buy Back: 50% of trading fees allocated to weekly APEX token buybacks for token holders”
50% of fees used to buy back APEX tokens on a weekly basis on random days of the week.
Token Buy Back
50% of trading fees allocated to weekly APEX token buybacks for token holders
adapter on GitHub ↗