Crypto
SpaceX IPO demand spike collides with $180B+ weekly crypto drawdown
SPCX pre-IPO perps drew $2.1B on Binance in 18 days and $115M+ OI on Hyperliquid ahead of expected Thursday pricing.
Perpetual Futures
Start here
Start hereWhat are crypto perpetual futures and how funding keeps them glued to spot
Perpetual futures are non-expiring crypto derivatives that use trader-to-trader funding payments and strict liquidation rules to manage price tracking and solvency.
9 min readRead guide
Learn about Perpetual Futures
Perpetual futures vs futures vs spot: how each one prices exposure
Spot makes you pay with capital and custody, dated futures price in basis to expiry, and perpetuals charge or pay a recurring funding rent.
How do funding rates work in crypto: Reading perp carry and crowding risk
Funding rates are timed transfers between longs and shorts that keep perpetual futures near spot and can warn when leverage is getting crowded.
How leverage works in crypto trading: margin, liquidation, and funding
Leverage lets a small margin deposit control a larger position, but it adds liquidation triggers and recurring funding costs on perpetual futures.
How crypto liquidation works: the margin-ratio trigger behind forced unwinds
Liquidation starts when assets no longer cover debt plus interest at an exchange-defined threshold, forcing collateral sales and fees.
How to read open interest in crypto without getting faked out
Open interest is a leverage inventory gauge, and it only becomes a usable signal when paired with price, volume, long/short ratios, and liquidation maps.
Latest Perpetual Futures News
Crypto
OKX Expands EU X-Perps Into Mag 7, SPY/QQQ, and Gold/Oil With 10x Leverage
The exchange is pitching the products as regulated derivatives as MiCA’s July 1, 2026 authorization deadline approaches.
Crypto
Citrini Research flags Hyperliquid’s HYPE as a buyback-driven “compelling” idea
The note spotlights $1.06B annualized fees, $220B 30-day perp volume, and $2B+ in cumulative HYPE repurchases since Jan. 2025.
AI
Arthur Hayes says he dumped WLD days after Maelstrom’s AI-IPO proxy call
Worldcoin whipsawed from above $0.60 to around $0.40 as Hayes cited a falling SpaceX pre-IPO perp chart.
Crypto
Ether hits $1,540 as BTC breaks $60K and ETH hedging spikes to 3.7x put premium
Negative perp funding and $1.28B in long liquidations met a fresh Zcash infinite-mint bug headline and a DeFi TVL slide.
Crypto
Bitcoin shorts stack near $66K as funding turns negative and ETF flows pause
Liquidation estimates show $2.6B of shorts at risk into $66K versus $1.2B on a drop to $57K, while ETFs logged a $3M inflow.
Crypto
Arthur Hayes Exits HYPE as Token Pulls Back From $75 Highs
Hayes cited macro risk and “AI IPO” mania, while 10x Research flagged rich valuation and a June token unlock overhang.
Crypto
Coinbase Opens Non-US SpaceX Pre-IPO Perpetuals in New Private-Markets Push
The USDC-settled perpetual futures contract offers eligible international users 24/7 exposure to SpaceX's estimated pre-listing valuation.
Crypto
Coinbase enables IMPS INR deposits and withdrawals in India after FIU registration
The exchange is pairing the bank rails with access to spot markets, perpetual futures, and Advanced Trade on one platform.
Crypto
Coinbase Financial Markets opens regulated access to Deribit-linked perps and options
Eligible US institutions can onboard immediately via a CFTC-regulated FCM pathway, with broader access expected later.
Crypto
Bitcoin tags $72,395 six-week low as traders zero in on 100-DMA into Sunday close
The $72K–$74K support zone and a $77K reclaim level are in focus as liquidations top $200M.
Crypto
Grvt to integrate Plume tokenized RWA yield funds into its perps DEX
The Base, Balanced, and Opportunistic funds are designed to be accessed from the same self-custodial trading balance.
AI
Van de Poppe: HYPE hits new ATH after two U.S. HYPE ETF launches
He says Hyperliquid and beaten-down AI tokens like NEAR and TAO signal a renewed altcoin risk-on phase.
Crypto
ICE and OKX plan Brent and WTI oil perpetual futures in licensed markets
The contracts will settle against ICE’s Brent and WTI benchmark prices and mark the first product from the firms’ March partnership.
Crypto
Binance launches SpaceX-linked pre-IPO perpetual contract SPCXUSDT
The USDT-margined perp is designed to track pre-IPO valuation signals, then shift to live share performance after listing.
Crypto
Bitwise lists HYPE ETF on NYSE as Hougan calls Hyperliquid “mispriced”
The note argues HYPE is being valued as “just perps” despite Hyperliquid’s multi-asset ambitions and non-crypto-linked volume.
Crypto
SOL perp funding flips negative after $83 retest as Solana DEX activity cools
Annualized funding swung from +8% to -3% in days while weekly DEX volume and DApp revenue fell well below January levels.
