Onchain Perps Bridges Liquidity Gap with CEXs Amid Crypto Trading Advancements

A study by Castle Labs has found that Onchain Perps is closing the gap with centralized exchanges (CEXs) in terms of execution speed. The research analyzed live order books and discovered that Hyperliquid, a product offered by Onchain Perps, held as much resting liquidity as the median of Binance, Bybit, and OKX on four out of five crypto assets. Moreover, Hyperliquid was found to cost less to trade compared to these CEXs.

However, the study also highlighted that there is still a gap in how venues price stocks and commodities when the underlying market is closed. This discrepancy remains an area where Onchain Perps can improve its offerings.