RWA Contract Q1 2026 Transaction Volume Reaches $524.7 Billion, a YoY Increase of 1666%

BlockBeats News, May 11th, according to CoinGecko data, in the first quarter of 2026, the total trading volume of RWA perpetual contracts reached $524.79 billion, making it expected to more than double compared to the full year of 2025, which was $313.02 billion. This marks the fourth consecutive quarter of sequential growth in this data. The total trading volume of RWA perpetual contracts has grown from $29.74 billion in the first quarter of 2025 to $67.41 billion in the second quarter, $77.00 billion in the third quarter, and $138.87 billion in the fourth quarter.

As of July 2025, commodities once occupied the entire trading share of RWA perpetual contracts, but in the past six months, their monthly trading volume accounted for between 69.7% and 95.3%. At the same time, perpetual contracts for other asset categories have gradually gained market attention. The market share of stock perpetual contracts increased from 0.4% in August 2025 to 6.0% in March 2026; ETF perpetual contracts rose from 2.8% in October 2025 to 5.3% in March 2026, although most of this growth came from trading volume of SPY.

In addition, the share of the HIP-3 product on the Hyperliquid platform in the monthly trading volume of RWA perpetual contracts increased from 2.8% when it was launched in October 2025 to 28.6% in March 2026. It is worth noting that the trading volume of HIP-3 surged from a total of $12.65 billion in the fourth quarter of 2025 to $130.87 billion in the first quarter of 2026.

The total daily open interest of RWA perpetual contracts has soared from $140 million on January 1, 2025, to $6.68 billion on March 31, 2026. In the first quarter of 2026, the average daily open interest of RWA perpetual contracts was $4.82 billion, more than five times the average daily open interest of $850 million in 2025.