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RWA-linked derivative volume approached $300B in June 2026 across Binance, Hyperliquid and OKX, with weekends contributing $20B of the month's total. The growth is reshaping how crypto-native perpetual mechanics interact with traditional regulated infrastructure.
Why it matters
Perpetual CFDs take the funding rate mechanic that defines crypto perpetuals and express it through a familiar daily swap. Instead of a broker-set financing charge, the swap is derived from the underlying perpetual's peer-to-peer funding rate with no markup, settling in the overnight swap format regulated clients already know.
Market impact
Pepperstone, a global Forex and CFD platform, now offers 24-hour US share CFDs and perpetual CFDs within an ASIC and FCA-regulated framework, including negative balance protection and segregated client money. The product brings crypto's 24/7 market proof of concept onto rails that institutional compliance teams can clear, while preserving the funding-rate mechanism that makes perpetuals liquid.
This research primer is commissioned by Pepperstone.
Frequently asked questions
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What are perpetual CFDs and how do they differ from crypto perpetual swaps?
Perpetual CFDs take the funding rate mechanic that defines crypto perpetuals and express it through a familiar daily swap. The swap is derived from the underlying perpetual's peer-to-peer funding rate with no broker markup, while settling in the overnight swap format regulated clients already know.
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How large is RWA-linked derivative volume right now?
RWA-linked derivative volume approached $300B in June 2026 across venues including Binance, Hyperliquid, and OKX, with weekends contributing $20B of the month's total.
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Which broker is offering perpetual CFDs on a regulated framework?
Pepperstone, a global Forex and CFD platform, offers 24-hour US share CFDs and perpetual CFDs within an ASIC and FCA-regulated framework, including negative balance protection and segregated client money.
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Do perpetual CFDs keep crypto's 24/7 trading hours?
Yes. Perpetual CFDs extend crypto's 24/7 market model into regulated market infrastructure, allowing clients to trade around the clock rather than within traditional exchange sessions.
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Is there a broker markup on the financing leg of a perpetual CFD?
No. The daily swap is derived from the underlying perpetual's peer-to-peer funding rate with no markup, distinguishing it from a standard broker-set financing charge.
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