Seeing a certain perpetual contract DEX ranking high in the trading pair leaderboard, I didn't stop there. Instead, I compiled an evaluation checklist. Rankings are just superficial; what truly needs to be weighed are trading volume, open interest, TVL, the strength of the backing capital, L2 network choices, fee structures, and token buyback mechanisms—this entire set of factors. Comparing these dimensions together allows us to see whether a DEX ecosystem is truly healthy. This methodology is very helpful for screening mainstream platforms and emerging exchanges, especially in the increasingly competitive perpetual contract space.