Binance Perps Capture 97% of Equity Gaps in FOMC Bounce

Binance's equity-linked perpetual contracts (perps) have been performing exceptionally well in recent times. Following the Federal Open Market Committee (FOMC) decision, these perps absorbed a massive $1.02 billion in volume and captured a median of 97% of the subsequent opening gaps across 16 names.

Notably, every contract managed to correctly predict the direction of price movement, while cash markets remained closed during this period. This is especially impressive considering the significant volatility typically associated with FOMC decisions.

The SEC Innovation Exemption also had a notable impact on the market, causing HOOD to surge by 4.67%, CRCL by 4.43%, MSTR by 4.04%, and COIN by 3.24% by Friday's open. In contrast, the broader market, represented by SPY, experienced a decline of -0.16%.

Another $7.25 billion flowed through 198 traditional finance (TradFi) perps during the S&P rebalance closure. Pre-IPO contracts also saw some movement, with Anthropic slipping by just 0.89% on delay news and OpenAI rising by 3.00%.