Hyperliquid has launched the first official S&P 500 perpetual, enabling 24/7 on-chain trading of the U.S. benchmark. The product debuts within Hyperliquid's HYPE ecosystem to provide continuous index exposure in DeFi.
Kraken has rolled out round‑the‑clock perpetual trading for tokenized U.S. stock derivatives with up to 20x leverage, widening access to equities exposure through crypto markets. The move bridges traditional shares and digital derivatives but raises questions about risk and regulation.
DerivaDEX has begun offering crypto perpetual swaps after obtaining a test license from Bermuda’s regulator and moving to DAO governance. The move pairs on‑chain governance with formal oversight, aiming to bridge DeFi derivatives and regulated markets.
Binance announced it will delist 20 spot trading pairs and two perpetual contracts across February while adding new TradFi-linked perpetual listings on its derivatives platform. Traders may face reduced liquidity and should check exchange notices for affected pairs and deadlines.
Aster has launched its Layer-1 testnet and is targeting a mainnet rollout in Q1. The 2025 rebrand positioned Aster as a decentralized exchange focused on perpetual futures, aiming to capture growing perp DEX volumes.
Trove Markets is accused of selling more than $10 million in HYPE tokens within 24 hours, triggering fraud allegations and community scrutiny. The decentralized perpetuals exchange runs on Hyperliquid’s HIP-3 protocol.
Binance will automatically settle and delist USDⓈ-M perpetual contracts for BID/USDT, DMC/USDT, ZRC/USDT and TANSSI/USDT on January 21, 2026 at 09:00 UTC. Traders with open positions should take action before the scheduled settlement to avoid forced closure.
Synthetix announced it has redeployed to the Ethereum mainnet, with founder Kain Warwick saying “we can run it back” and predicting other perpetual DEXs will follow. The move highlights renewed confidence in Ethereum’s performance and could shift liquidity back on-chain.
Cascade has launched a neo-brokerage offering round-the-clock perpetual contracts that let retail traders use a single margin account to trade both crypto and U.S. stock 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.