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CME Group CEO Terry Duffy has issued a stark warning about the push to introduce perpetual futures contracts in US…
A perpetual DEX lets users trade leveraged futures on crypto without an expiry, directly from a wallet. Here is how the on-chain versions work and the trade-offs.
Perpetual futures let you bet on crypto price with leverage and no expiry, but funding fees and liquidation risk make them far more dangerous than spot trading.
A perpetual DEX lets you trade leveraged contracts on-chain with no central custodian. The matching engine, custody, and pricing all work very differently from Binance or Bybit.
Hyperliquid ran SpaceX at launch, CME shrank oil contracts for 24/7 retail access, and the CFTC opened a 67-question docket on perpetual crude.
The contracts are synthetic — no equity, no shareholder rights — but they tap the same $13T private-market demand pool that pulled Injective, Bitget, and Robinhood into the same trade this year.
Perps dominate with $200B+ daily volume and brutal margin efficiency, but funding-rate exposure and exchange insurance-fund blowups remain the hidden costs traders say most users underprice.
Round-the-clock derivatives access brings institutional trading further into crypto's always-on market structure.
Kalshi's launch of crypto perpetual contracts under CFTC oversight has triggered a public fight between derivatives…
His view points to room for distinct trading strategies on Hyperliquid, with HIP-4 offering a path to build options protocols.
Wall Street's biggest dealer is telling clients the perps market is a retail and momentum-trader venue, not an institutional hedging primitive, and that concentration in offshore books makes depth…
The move brings perpetual futures across both crypto and equities to Robinhood, expanding the trading products available to its retail users.
SPCX/USDT perpetuals on Binance logged $3.385 billion in trading volume over 24 hours, according to Coinglass data —…
Perps volume is migrating to chains built for speed, but Ethereum's deeper bet is becoming the settlement and collateral layer that backs them.
A contract without expiry would remove the need to roll VIX futures, but funding payments and the difficulty of hedging an index remain unresolved.
The framework requires tokenized shares to retain ordinary shareholder rights, setting a higher bar than earlier stock-linked crypto products.
The exit folds Ventuals into another Hyperliquid team and leaves TradeXYZ controlling roughly 97% of HIP-3 trading volume — a consolidation moment for the exchange's hottest growth lane.
Hyperliquid proved the perps-oil thesis with $1.6B daily volume; ICE, the NYSE owner, now wants a regulated cut — and a CFTC pivot on perps makes the timing deliberate.
The convergence isn't theoretical — perps already cover ~70% of crypto trading volume, and the rails are built. The next leg is volume: equity perps, cross-margining, and on-chain IPOs.
Positive funding means longs pay shorts, but the real warning is crowded leverage: one sharp move can turn liquidations into a self-reinforcing cascade.
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