RWA Perpetual Futures Hit $2.9B Open Interest, Surpassing Bitcoin on Hyperliquid

According to Coinbit Research Center on July 19, real-world asset (RWA) perpetual futures have surged to $2.9 billion in open interest as of July 2, 2026, exceeding Bitcoin perpetual futures' $2.1 billion on Hyperliquid. The expansion marks a rapid shift beyond cryptocurrency markets, with major South Korean firms including Samsung Electronics and SK Hynix now tradable in offshore markets 24 hours daily.

A key concern is that domestic stock prices are being set outside South Korea's regulatory framework, even after local exchanges close. SK Hynix perpetual futures showed correlation coefficients of 0.97–0.99 with next-day opening prices overnight, indicating strong price discovery, while yuan-dollar exchange rate perpetual futures have also emerged. The report highlights risks from price distortions or liquidation events occurring beyond domestic capital markets law reach.