Crypto Exchanges See Surge in TradFi Perpetual Contracts

TradFi perpetual contracts have become increasingly popular on crypto exchanges, according to a report by CryptoQuant. The open interest in these contracts has more than doubled since late May, reaching over $2 billion.

This growth is largely driven by major exchanges expanding beyond digital assets. Binance, Bybit, and Gate control about 70% of the emerging derivatives segment, with Binance holding around 35% of the market share.

Despite this rapid growth, TradFi perpetual contracts remain a small part of the overall crypto derivatives market, representing only around 3% of the roughly $65 billion held in cryptocurrency perpetual contracts.