Perpetual DEX open interest has reached a record $19 billion, while total crypto open interest climbed to an all-time high of $25 billion. The figures point to sustained growth in leveraged derivatives activity across on-chain markets.
Why it matters
Real-world assets now represent 24% of total open interest, up from 6% at the beginning of 2026. The shift shows perpetual DEXs expanding into exposure tied to stocks, commodities and other traditional market instruments.
Market impact
The widening gap between crypto-native and RWA-linked contracts gives decentralized derivatives venues a broader addressable market. Traders and investors will be watching whether rising open interest is matched by deeper liquidity and continued adoption across these new markets.
Source: [source](http://telegraph.controller.bot/files/8336652911/AgACAgIAAxkBAAJQ-GqxQ65Ef0vwVYFyI1tPyeZDzHc9AAKdJGsbjMSJSVHUulBlV9ZOAQADAgADeQADPQQ)
Frequently asked questions
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How high did perpetual DEX open interest climb?
Open interest on perpetual DEXs reached a record $19 billion.
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What was the new record for total crypto open interest?
Total crypto open interest climbed to an all-time high of $25 billion.
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How much has RWA's share of open interest increased?
RWA-linked contracts grew from 6% of total open interest at the beginning of 2026 to 24%.
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Which markets are entering on-chain perpetuals?
On-chain perpetual markets are expanding into stocks, commodities and other real-world assets.
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What does the rise in RWA open interest indicate?
It indicates that decentralized derivatives venues are broadening beyond crypto-native markets into real-world asset exposure.
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