TradFi perpetual futures open interest doubled to more than $2 billion

Open interest in traditional financial perpetual futures on crypto exchanges is surging. According to data from CryptoQuant, this figure has more than doubled since May and now exceeds the $2 billion mark. The growth shows that crypto exchanges are increasingly becoming the arena for trading traditional financial assets, 24 hours a day.

Binance dominates the market

Among all exchanges, Binance takes the largest share. The platform accounts for around 35% of total open interest in both crypto and TradFi perpetual markets. This puts Binance firmly in the lead, well ahead of competitors such as Bybit, OKX and Bitget, which also feature prominently in CryptoQuant’s charts.

Binance’s strong growth is notable, but the overall market is also developing rapidly. While the figure was still around $1 billion in May, it is now heading towards $2.4 billion. That is a doubling in just a few months. Moreover, the chart shows an almost uninterrupted rise since mid-May, particularly in the categories of larger exchanges.

Crypto exchanges as a hub for traditional assets

CryptoQuant’s data covers not only crypto, but also metals, oil and equities traded via perpetual futures on crypto exchanges. This indicates that the boundary between traditional finance and the crypto market is increasingly blurring. Investors are increasingly using crypto platforms to trade traditional assets, attracted by the low barrier to entry and continuous availability.

This development ties in with a broader trend in which crypto is increasingly seen as financial infrastructure. For exchanges, the growing TradFi open interest offers a significant new revenue stream. The question now is whether this growth will continue as more institutional players find their way to crypto trading platforms. Would you like to compare exchanges yourself? Then check out the overview of the best exchanges.