Hyperliquid recorded $25.1 billion in RWA perpetual volume from July 13 to July 19, Talos reported. That amount represented about 52% of its $48.2 billion weekly total. RWA derivatives also surpassed every other perpetual category combined on Hyperliquid for the first time. The exchange uses on-chain execution, oracle pricing, and automated .
By contrast, Binance operates through centralized custody and exposes users to exchange counterparty risk. Both venues still concentrated most of the reported RWA perpetual activity. Early figures for the next week showed RWA perpetual volume reaching $37.2 billion. That total exceeded Bitcoin perpetual volume by about 9%, according to the Talos dashboard.
Equity-linked contracts contributed $22.8 billion, commodities added $9.1 billion and indexes produced $4.2 billion. ETF contracts generated about $338 million, while other categories supplied the balance. Despite this growth, RWA perpetuals represented about 7.5% of the broader $821.4 billion futures market tracked by Talos. The provider described its figures as a market snapshot.