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DEX monitoring spans three levels: the venue itself (a DEX as a Protocol), the markets trading on it (individual pairs), and the traders driving activity (wallets). Peak supports each level with dedicated Commands. This guide outlines a structured approach.

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The three levels of DEX analysis

Venue level

The DEX as a whole — total volume, TVL, top markets, fee revenue.

Market level

Individual pairs and pools — pair volume, liquidity depth, performance.

Trader level

Wallet behavior on the venue — who is trading, in what size, with what patterns.

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Venue-level monitoring

For tracking a DEX as a whole, the entry point is the Protocol Object for that DEX.

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DEX Performance (DEP)

DEX Performance (DEP) ↗ is the primary venue-level Command. It consolidates volume, TVL, market breakdowns, and other core metrics into a single view. What to look for:
  • Total volume trends across time frames
  • TVL changes and direction
  • Top markets by volume
  • Fee revenue, where applicable

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Protocol Analysis (PRA)

For broader context — including non-trading metrics — open Protocol Analysis (PRA) ↗. This gives you fundamentals beyond just trading activity.

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Competition (PCP)

To place the DEX in its competitive context, Competition (PCP) ↗ compares it to other venues in the same category.

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Market-level monitoring

Once you have identified active markets at the venue level, drill into specific pairs using the DEX Market Object. A DEX Market represents a specific pool or pair — for example, the SOL/USDC pool on Raydium. Commands scoped to DEX Markets cover:
  • Volume and trade history for the specific pair
  • Liquidity depth and provision
  • Pair-level performance
Cross-reference links from DEP typically lead directly to DEX Market views for the top pairs.

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Trader-level monitoring

For analyzing who is trading on the venue:

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DEX User Analysis (DUA)

DEX User Analysis (DUA) ↗ at the Protocol level examines DEX trader behavior aggregated across the venue. Useful for understanding the venue’s user composition.

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User Profile (UPO) and User Preference (UPE)

For demographic and behavioral context, User Profile (UPO) ↗ and User Preference (UPE) ↗ examine who uses the protocol and what they engage with.

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A typical monitoring session

1

Open DEX Performance (DEP) on the venue

Get the current state — volume, TVL, top markets.
2

Drill into top markets

Click through to the DEX Market views for the highest-volume pairs.
3

Examine trader behavior

Open DEX User Analysis (DUA) ↗ for context on who is driving activity.
4

Cross-reference to tokens

For the tokens in those pairs, examine Live Trades (LTD) ↗ and CX Whale Tracker (CWT) ↗ for the broader picture.

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Setting up ongoing tracking

For DEXs you monitor regularly:
  • Add the Protocol to a watchlist so the venue is one click away.
  • Set alerts on conditions material to your monitoring — volume spikes, TVL changes, unusual market activity.
  • Save the markets you care about as DEX Market entries in a watchlist.

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Commands referenced

For DeFi Power Users

The broader DeFi workflow this monitoring supports.

Tracking Smart Money

Combine venue-level monitoring with wallet-level signal.