A report from Castle Labs said on-chain perpetual decentralized exchanges have expanded their share of global perpetual futures trading from 0.11% in January 2023 to 12.33% in September 2026. The report also pointed to fast growth in on-chain RWA perpetual contracts, which now cover traditional asset categories including stocks, commodities, and Pre-IPO exposure. In July 2026, monthly trading volume for this segment briefly reached about $147.5 billion, accounting for 19.6% of on-chain perpetual trading volume that month. Separately, as of Sept. 24, total open interest across perpetual DEXs stood at about $14.64 billion. Hyperliquid accounted for roughly $8.32 billion of that figure, or 56.8%, according to the report cited by Techub News.
Techub News, citing a Castle Labs report, said on-chain perpetual decentralized exchanges accounted for 12.33% of global perpetual trading volume in September 2026, up from 0.11% in January 2023.
The report also said on-chain RWA perpetual contracts are growing quickly, covering traditional asset exposure including stocks, commodities, and Pre-IPO markets. In July 2026, monthly trading volume in that segment briefly reached about $147.5 billion, equal to 19.6% of on-chain perpetual trading volume for the month.
As of Sept. 24, total open interest across perpetual DEXs stood at about $14.64 billion. Hyperliquid represented about $8.32 billion, or 56.8% of the total.
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