perpetual

HyperEVM perpetual contract exchange Papertrade is scheduled to open trading at 10 AM Eastern Time on October 10. According to DefiLlama data, it has accumulated approximately $85.3 million in deposits before its launch. The platform supports up to 1000x leverage, and traders do not match with counterparties but trade directly with the protocol's own liquidity pool. Papertrade stated in the announcement that website trading will start after the HyperEVM upgrade is completed, and deposits will be paused at 9:45 AM to prioritize trading; users need to deposit in advance to participate in the launch.The contracts on Papertrade use the midpoint of Hyperliquid's optimal buy and sell prices as the opening and closing price, with positions being synthetic trades against its liquidity pool, and there are no corresponding perpetual contracts on Hyperliquid. This design eliminates funding rates and reduces profits from closing positions through asymmetric impact discounts instead of charging fees based on position size. When the liquidity pool cannot cover profitable trades, unpaid profits will convert to queued debt, filled by subsequent traders' losses. Its PAPER token grants losing traders the right to claim related earnings from the liquidity pool, with an initial supply of zero, minted from realized losses, with no team or venture capital shares.In the initial phase of the launch, Papertrade will only open trading through the frontend and approved trading relays, and direct access to public contracts will not be supported. Platform administrators can pause new positions, freeze the market, and adjust fee parameters, with a 7-day time lock for contract upgrades. Initially, the PAPER token will only support staking and unstaking, and wallet-to-wallet transfers will not be supported;

According to Wu's Blockchain report, the /coins/perps interface of the Pump.fun front-end API has displayed data related to Hyperliquid perpetual contracts, covering cryptocurrency assets such as BTC, ETH, SOL, as well as stock and commodity contracts like Nvidia, Tesla, gold, and crude oil.The interface returns information including contract prices, funding rates, open interest, 24-hour trading volume, and maximum leverage, with some assets coming from the Hyperliquid HIP-3 market. Wu stated that it is currently unclear whether Pump.fun plans to launch perpetual contract trading features, and the official has not yet announced related product plans.

According to the market information platform Liquid247.xyz, the current price of ETH is $2,494.94. The thickest order book is on Binance perpetual: sell orders amount to $68.793 million, buy orders amount to $56.6638 million, with sell orders exceeding buy orders by $12.1292 million.The sell orders on Binance spot and Coinbase spot are also thicker than the buy orders, but the scale is smaller than that of the perpetual contracts. If a large buy or sell order suddenly appears, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.

According to the market intelligence platform Liquid247.xyz, Binance's perpetual BTC has approximately 100.534 sell orders placed at $82,585, with a nominal value of about $8.3026 million, which is an increase of about 0.00% from the mid-price of approximately $82,581 at that time.The total buy orders at the near-end market amount to approximately $40.1391 million, while the sell orders are about $44.6355 million, resulting in a net sell order surplus of approximately $4.4964 million, accounting for 5.30% of the total depth.

According to the market information platform Liquid247.xyz, Hyperliquid's perpetual ETH has approximately 2,064.49 sell orders listed at $2,493.20, with a nominal value of about $5.1472 million, which is an increase of about 0.02% from the mid-price of approximately $2,492.75 at that time.The total buy orders on the near-end market are about $12.751 million, while the sell orders are about $12.8419 million, resulting in a net sell excess of about $90,900, accounting for 0.36% of the total depth.

According to the market information platform Liquid247.xyz, the current price of ETH is $2,491.14. The thickest order book is on Binance perpetual: sell orders amount to $57.2415 million, buy orders amount to $49.0568 million, with sell orders exceeding buy orders by $8.1848 million.The spot buy orders on Binance are thicker than the sell orders, but the scale is smaller than that of the perpetual. If large buy and sell orders occur, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.

According to the market information platform Liquid247.xyz, the current price of BTC is $82,401. The thickest order book is on Binance perpetual: sell orders amount to $55.2624 million, buy orders amount to $46.3074 million, with sell orders exceeding buy orders by $8.9551 million.The spot buy orders on Binance are thicker than sell orders, but the scale is smaller than that of the perpetual market. If large buy and sell orders occur, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.

The perpetual contract trading platform Extended announced that it will migrate its settlement network to Arc, a Layer 1 blockchain built for financial markets by Circle. The migration is scheduled to take place during the week of October 19, 2026, with specific timing to be announced closer to the date, and trading will continue during the migration. Accounts, sub-accounts, positions, orders, transaction history, points, and keys will remain unchanged.If any sub-account holds USDT or wBTC valued over 1 USD, users must convert or withdraw by 12:00 UTC on October 21, 2026, as these two assets will not exist on Arc. In-app conversion to USDC or cirBTC will be available at a 1:1 ratio, with Extended covering a 0.50% premium and no exchange fees; the premium will be credited within 8 hours after migration. Recharge for these two assets has been closed since 16:00 UTC on the announcement date. ETH will be automatically converted to wETH on Arc at a 1:1 ratio, and USDC will migrate as native USDC.Recharge and withdrawal are expected to be paused for no more than approximately 2 hours during the migration, while transfers between sub-accounts will remain available. If the relevant assets exceed 1 USD and the deadline is missed, the entire account will be restricted during processing, and the relevant sub-account positions will be liquidated at the mark price at the time of processing without any fees. The Arc mainnet will go live on September 16, 2026, with institutions such as BlackRock, DTCC, ICE, Visa, and Mastercard as its founding validators.

According to Decrypt, Decrypt has announced that its self-custody Money Accounts are now live on Solana, providing readers with a single balance that can be used across all Decrypt products to support its financial and intelligence market, The Information Exchange. Decrypt co-founder Ilan Hazan stated that the goal is to achieve one account and one balance, allowing users to utilize various financial tools directly from where they obtain information, from prediction markets to perpetual contracts and swaps. Users can manage all positions in one place without worrying about wallets, cross-chain bridges, or public chains, with relevant partners to be announced in the coming weeks.Deposits and balances are denominated in USDT on Solana, and the same balance can support products such as Earn, Swaps, Predictions, and Perps. Gas and rent are sponsored through joint signatures by payers, so users do not need to hold SOL or consider network fees. The account operates in a self-custody mode, meaning Decrypt does not hold private keys and cannot perform operations on behalf of users, with a private key export feature coming soon. Cross-chain operations are completed at the underlying level; for example, the Myriad Predictions market settles on the BNB Chain, yet users can still trade using the same Solana USDT balance without needing to interact with a cross-chain bridge.Existing Myriad Wallet users can directly use Decrypt Money Accounts, with one account and one balance covering both Decrypt and Myriad without the need for migration.

According to the market intelligence platform Liquid247.xyz, the current price of ETH is approximately $2,566.47. Binance's perpetual near-end buy orders are about $60.93 million, and sell orders are about $58.87 million, with a net buy of approximately $2.05 million; Binance's spot buy orders are about $24.75 million, and sell orders are about $6.32 million, with a net buy of approximately $18.43 million; Coinbase's spot buy orders are about $12.22 million, and sell orders are about $8.44 million.OKX's perpetual buy orders are about $21.33 million, and sell orders are about $21.11 million, while Hyperliquid's perpetual buy orders are about $11.43 million, and sell orders are about $8.53 million. The thickness of buy orders on Binance's perpetual and spot markets is significantly higher than other venues, especially the spot buy orders on Binance are notably thicker compared to sell orders. If large market orders occur, slippage on thinner exchanges like Hyperliquid may be greater.

According to the market intelligence platform Liquid247.xyz, the current price of BTC is approximately $82,643. The Binance perpetual near-end sell orders amount to about $43.795 million, and buy orders are about $43.4685 million, with a net sell order surplus of approximately $326,500; Coinbase's spot sell orders are about $22.2235 million, and buy orders are about $16.7834 million; OKX's perpetual sell orders are about $19.5759 million, and buy orders are about $13.6366 million.Hyperliquid's perpetual buy orders are about $9.5485 million, and sell orders are about $2.8662 million, with a net buy order surplus of approximately $6.6823 million. Binance's spot sell orders are about $14.4525 million, and buy orders are about $10.7293 million. Overall, Binance's perpetual sell orders are relatively more concentrated compared to buy orders, while Hyperliquid shows a dominance of buy orders.

According to the market intelligence platform Liquid247.xyz, Binance's perpetual ETH has approximately 1,952.83 sell orders at the price level of $2,588.00, with a nominal value of about $5.05 million, which is an increase of about 0.39% from the mid-price of approximately $2,578.00 at that time.The total sell orders at this venue amount to approximately $66.584 million, while the buy orders are about $55.3821 million, resulting in a net sell order surplus of approximately $11.2018 million, accounting for 9.18% of the total depth.

According to the official announcement, Bitget has launched four stock perpetual contracts: USDESTOCK (StablecoinX), VKTX (Viking Therapeutics), PCVX (Vaxcyte), and XP (XP).The above contracts are settled in USDT, support up to 20 times leverage, and allow trading 24/7. As of now, the Bitget platform supports a total of 337 stock underlying assets.

During an interview with The Starting Block at the Digital Asset Summit 2026 Asia, Brian Smith, the president of Jito Foundation, the parent company of the Solana ecosystem trading platform JTX, stated that JTX plans to launch stock trading features within the next two weeks and will release a native mobile app later this fall. The integration of perpetual contracts "may take until later this winter." He mentioned that the team is currently focusing on differentiating the spot trading features.JTX launched in July this year, supporting spot trading for cbBTC, SOL, HYPE, and meme coins, while also offering tokenized stocks and ETFs. The platform charges a fee for each transaction, with 80% of the revenue allocated to Jito DAO for the buyback and destruction of JTO tokens, and 20% distributed to referrers. Smith did not disclose the trading volume since the launch but emphasized the speed of product iteration, stating that the team has two full-time data scientists mining on-chain data to develop in-app discovery features.Smith positioned JTX as a "permissionless Robinhood" for Solana, emphasizing longer holding periods and competitive rates, and noted that other Solana applications tend to focus on early meme coin trading. Regarding perpetual contracts, he acknowledged that Solana "has a lot of work to do" and affirmed Hyperliquid's role in pushing centralized exchange traders on-chain, while stating that Solana is the "king" in the spot trading space.

According to the market intelligence platform Liquid247.xyz, the current price of ETH is approximately $2,610.05. Binance's perpetual near-end buy orders are about $71.1371 million, sell orders are about $61.4986 million, with a net buy of approximately $9.6385 million; Binance's spot buy orders are about $8.554 million, sell orders are about $7.2989 million, with a net buy of approximately $1.2551 million; Coinbase's spot buy orders are about $14.0431 million, sell orders are about $12.8971 million, with a net buy of approximately $1.146 million.OKX's perpetual buy orders are about $21.095 million, sell orders are about $19.0131 million, Hyperliquid's perpetual buy orders are about $12.6591 million, sell orders are about $11.94 million. Overall, Binance's perpetual buy order thickness is significantly higher than other venues, and buy orders are generally thicker than sell orders. If there is a pullback in the short term, the order volume on the Binance perpetual side is relatively more concentrated.

According to the market intelligence platform Liquid247.xyz, Binance's perpetual ETH has about 10,114.56 buy orders at the price level of $2,650.00, with a nominal amount of approximately $26.8 million, retracting about 0.06% from the mid-price of approximately $2,651.47 at that time.The total buy orders at the near end amount to about $105 million, while the sell orders are about $60.12 million, resulting in a net buy of approximately $45.37 million, accounting for 27.40% of the total depth. This buy order is particularly prominent among the near-end buy orders.

The American compliance prediction market platform Kalshi has launched the US 500 perpetual futures contract, which has no expiration date, utilizes a daily funding fee payment mechanism, and uses futures account assets as collateral.According to The Defiant, Kalshi displayed a maximum leverage of 15.3 times on the day of the launch.

According to SolanaFloor, the Solana perpetual futures trading platform Imperial has completed a $1.5 million seed round financing, with a valuation of $15 million, led by Foundation Capital and supported by angel investors in the Solana ecosystem.The funds from this round will be used to expand Imperial's product portfolio, including a perpetual contract aggregator, a lending platform, and the flagship project Armada. Imperial's Armada is a perpetual contract AMM in the Solana ecosystem, sourcing liquidity from DeFi platforms like Hyperliquid, allowing traders to access a deeper order book without leaving Solana.

According to the market intelligence platform Liquid247.xyz, the current price of BTC is approximately $85,580. Binance's perpetual near-end buy orders are about $49.7076 million, and sell orders are about $45.7305 million, with a net buy of approximately $3.9771 million; Binance's spot buy orders are about $14.042 million, and sell orders are about $11.7821 million, with a net buy of approximately $2.2599 million; Coinbase's spot buy orders are about $24.4913 million, and sell orders are about $25.8692 million, with a net sell of approximately $1.3779 million.OKX's perpetual buy orders are about $15.1735 million, and sell orders are about $15.8917 million, with a net sell of approximately $0.7182 million; Hyperliquid's perpetual buy orders are about $11.7525 million, and sell orders are about $2.8715 million, with a net buy of approximately $8.881 million. Binance's perpetual buy order thickness is the most significant among all venues, while Hyperliquid has an advantage in net buy ratio.

According to the official announcement, the Binance Futures platform will launch multiple USDT-denominated perpetual contracts on October 6, including USDEXUSDT, VKTXUSDT, MCDUSDT, and AKAMUSDT. The specific launch times are 17:00, 17:05, 17:10, and 17:15, with a maximum leverage of up to 20 times.