I noticed an interesting trend in the market — perpetual contracts have long moved out of the niche tool category and are now seriously reshaping the entire trading landscape. The numbers are impressive: in 2025, volumes on centralized platforms reached $86.2 trillion, which is 47% higher than the previous year. But what’s truly astonishing is that decentralized exchanges are growing exponentially faster. There, the growth was 346%, and trading reached $6.7 trillion.

Why is this happening? Perpetual contracts offer traders what they want — the ability to trade with leverage without an expiration date, 24/7, without restrictions. It’s simply more convenient than working with traditional futures. Decentralized platforms are actively riding this wave, offering users more control and innovative features. For example, Hyperliquid launched HIP-3, which allows anyone to create their own markets for perpetual contracts. This changes the game — now anyone can launch their own trading instrument.

A separate point is the growth of perpetual contracts on real assets (RWA). This direction has significantly expanded the market. Platforms like Hyperliquid and Ostium already show that RWAs occupy a noticeable share of trading volumes. The industry is clearly looking for new vectors of development.

Currently, attention has shifted to building quality infrastructure around these contracts. Of course, there are challenges — regulation remains uncertain, and liquidity is not always easy to manage. But the trend is obvious: perpetual contracts are becoming a primary tool for serious traders, and this process is only gaining momentum.