RWA perp volume nears $1 trillion mark

The total trading volume in perpetual contracts on so-called real-world assets (RWA) is approaching the $1 trillion mark. According to data from analytics platform Artemis, over $888 billion has already been traded, of which more than $678 billion in the past six months. The growth shows that more and more traders are trading traditional financial instruments such as commodities, stocks and indices via blockchain platforms, even during a period in which the broader crypto market is under pressure.

In brief:

• Total RWA perp volume amounts to over $888 billion, with 76% generated in the last six months.
• Commodities form the largest category with 52.4% of the volume, followed by stocks (24.3%) and indices (15%).
• Decentralised platforms are gaining ground on centralised exchanges, according to the figures from Artemis.

Explosive growth in a short time

The data from Artemis shows a remarkable acceleration. Where RWA perp volume was virtually nil for years, growth began to pick up strongly in mid-2025. At the start of 2026, weekly volume regularly peaked above $30 billion, and recently even weeks of more than $40 billion were recorded.

Total outstanding open interest in RWA perpetuals currently stands at $4.9 billion, while RWA’s share of all perpetual contracts is currently 3.5%. Its share of total on-chain volume stands at 19%.

Commodities and stocks dominate the volume

Most trading takes place in commodities, accounting for 52.4% of the total RWA perp volume. Stocks follow with 24.3% and indices account for 15%. Currency pairs (FX) are responsible for 7% of the volume. Products such as oil, silver and broad stock indices are thus the most traded instruments in this segment.

On the trade.xyz platform alone, more than $500 billion in RWA perpetuals was traded, spread across 161 markets. The most traded products on that platform are crude oil (CL, $71.8 billion), the XYZ100 index ($70.3 billion) and silver ($59.4 billion), followed by the S&P 500 ($40.6 billion).

On-chain platforms gain ground on centralised exchanges

A comparison between decentralised (DEX) and centralised (CEX) platforms shows that on-chain volume has grown strongly in recent months. Previously, volume came almost entirely from centralised exchanges, but DEX platforms such as GMTrade, trade.xyz and Ostium now generate a large share of the total trading volume.

GMTrade has an RWA volume of $97 billion and open interest of $115.8 million. Gate.io tops the CEX list with $531.7 million in open interest and an RWA volume of $52.1 billion. Open interest on perp DEX platforms is also at a peak in 2026, confirming the broader trend.

Analysts at AltCryptoGems say they are actively following the developments, including which specific assets are most traded, which DEX and CEX platforms are growing and on which blockchains most transactions are settled. Ethereum and BNB Chain are seen as important networks in this regard. According to the analysts, the data from Artemis provides a starting point for assessing which protocols and networks can benefit most from this growth, but they stress that further research remains necessary.