Perpetuals
OKX will remove USDC-margined perpetual futures effective December 11, 2025, citing a push to improve market liquidity and the trading experience. Traders should close or roll positions before the deadline as liquidity may shift to other stablecoin-margined contracts.
On Nov 19, 2025 SafePal announced integration of Hyperliquid perpetuals into its wallet and trading suite, giving users in-app access to perpetual contracts including HYPE. The addition expands SafePal's DeFi product set and may increase on-chain liquidity for HYPE and SFP.
SGX’s derivatives arm announced it will start trading perpetual futures for BTC and ETH, aiming to expand institutional crypto access and liquidity in Asia.
A TSLA-USDH perpetual contract has launched on the Hyperliquid decentralized exchange via the Felix Protocol, offering on-chain exposure to Tesla shares with tailored trading parameters. The move expands tokenized equity access for DeFi traders and uses the HYPE ecosystem.
Pacifica has become the largest perpetuals DEX on Solana, surpassing Jupiter in daily, weekly and monthly trading volume. On-chain volume trends show Pacifica leading across primary timeframes.
Arkham Intelligence reported abnormal on-chain trading before POPCAT's sharp drop and says roughly $5M of bad debt was pushed to Hyperliquid's Hyperliquidity Provider (HLP). The findings raise manipulation and liquidity-provider risk concerns for the decentralized perpetuals platform.
Perpetual DEX Lighter secured $68 million at a $1.5 billion valuation as venture capital resumes heavy bets on decentralized perpetual trading infrastructure. The round highlights renewed investor confidence in on-chain derivatives and infrastructure-first product strategies.
TrebleSwap has integrated Orbs' Perpetual Hub Ultra to enable institutional-grade perpetual futures on the Base network. The Layer‑3 rollout targets lower-cost, scalable derivatives trading and could accelerate DeFi activity on Base.
Binance announced it will remove perpetual contracts for Decentraland (MANA) and MultiversX (EGLD), a move that could squeeze liquidity and increase short-term volatility for traders holding leveraged positions. Read key impacts and risk-management steps.