Derivatives

Hyperliquid, a decentralized perpetual futures exchange, entered the top 10 derivatives platforms by volume in Q1 2026, competing alongside Binance.

Hyperliquid, a specialized decentralized exchange for perpetual futures derivatives, exceeded $1 billion in daily trading volume in February 2025, operating on its custom-built layer 1 blockchain with sub-second settlement.

BitMEX has emerged as one of the world's largest cryptocurrency futures exchanges, processing over $2 billion in average daily crypto trades and serving as the primary venue for bitcoin derivatives trading.