Perpetual futures in the current equity derivatives

In the current equity derivatives market, "perpetual futures" tied to S&P 500 are showing elevated open interest, up 12% week-on-week. This indicates increased hedging activity as investors anticipate potential volatility from upcoming CPI data. A break above 5,250 could unlock further upside. Due to its focus on perpetual futures trading, Aster is considered a rival to Hyperliquid—which has been one of the most successful crypto projects of the year. During its first week, it flipped Hyperliquid in daily revenue but remained behind in terms of trading volume. Regulatory Developments in the U.S. and Europe for Perpetual Futures Funding rate spreads in "perpetual futures" tied to small-cap indices narrowed sharply, showing increased demand for leveraged exposure. The Russell 2000 basket could see a rotation-driven rally if macro data confirms sustained growth.