derivatives

Pendle co-founder TN and Head of Growth Dan reviewed the developments in the first half of 2026 during the latest community meeting and announced the roadmap for the second half of the year. The team stated that in the first half, Pendle's ecosystem focused on building fixed income infrastructure, with Pendle V2 continuing to solidify its position as an on-chain fixed income protocol, while Boros made initial progress in the on-chain interest rate derivatives market.Data shows that Pendle V2 had an average daily TVL of approximately $1.3 billion in the first half of the year, with 9 out of the 11 major markets on the platform adopting real-world assets (RWA) as collateral, reflecting that institutional funds are continuously flowing into the RWA sector. Additionally, Pendle has launched on the Monad network and within less than a month became one of the top five protocols by TVL on that network, with a locked amount of approximately $150 million. In terms of protocol upgrades, Pendle has completed the migration from vePENDLE to sPENDLE, with about 36% of PENDLE currently staked, of which 93% of stakers have not yet unstaked. The protocol has also utilized revenue to repurchase approximately 2 million PENDLE and significantly reduced weekly liquidity incentives from about 90,000 to 21,000, further enhancing capital efficiency.At the same time, Pendle launched an in-app one-click Loop feature to simplify the operational process of leveraged yield strategies. Another core product, Boros, has surpassed $14 billion in cumulative trading volume within less than a year since its launch, with the number of users increasing by 50% since the beginning of the year. It has also introduced four-legged arbitrage strategies, acceptance of block trades, and a funding rate data dashboard to meet professional trading needs. Looking ahead to the second half of 2026, Pendle will focus on advancing curation infrastructure, allowing external teams to create PT/YT markets, and promoting PT assets as collateral for lending protocols; at the same time, it will collaborate with partners like Morpho to launch Pendle-branded yield vaults, expanding distribution channels for fixed income products. In terms of institutional business, the team is working with several RWA issuers in New York, planning to introduce tokenized ETFs, single bonds, and other on-chain yield products to Pendle, creating a platform for institutional RWA yield discovery and distribution. Boros will shift its strategic focus to cross-exchange funding rate arbitrage, prioritizing services for institutional arbitrageurs, and plans to launch a peer-to-peer acceptance market, funding rate visualization tools, and one-click strategy products for ordinary users, further improving the on-chain interest rate derivatives ecosystem.

As of July 23, according to the ranking data from RootData for stock derivatives exchanges, Binance, Bybit, and Bitget occupy the top three positions. This list is based on a comprehensive scoring of exchanges supporting stock derivatives trading, evaluated on dimensions such as trading volume, open interest, spreads, depth, trading costs, and data collectability, among which:Binance scored 92, supports 143 contracts, with an open interest of approximately $2.713 billion, a 24h trading volume of approximately $17.685 billion, and a funding rate of +0.0003%.Bybit scored 91.3, supports 131 contracts, with an open interest of approximately $95.9587 million, a 24h trading volume of approximately $920 million, and a funding rate of +0.0004%.Bitget scored 91.2, supports 252 contracts, with an open interest of approximately $757 million, a 24h trading volume of approximately $2.123 billion, and a funding rate of +0.0003%.It is worth noting that Bybit has entered the top two for the first time, but its open interest of approximately $95.9587 million is still the lowest among the top three exchanges, showing a significant gap compared to Binance and Bitget.

According to the latest ranking of stock derivatives exchanges released by RootData, Binance, MEXC, and Bybit are in the top three. The list is based on comprehensive scoring of exchanges supporting stock derivatives trading, considering dimensions such as trading volume, open interest, spreads, depth, trading costs, and data collectability. Among them:Binance scored 92, supports 136 contracts, has an open interest of approximately $2.539 billion, a 24h trading volume of approximately $15.765 billion, and a funding rate of +0.0002%.MEXC scored 91.6, supports 46 contracts, has an open interest of approximately $93.515 million, a 24h trading volume of approximately $28.4 million, and a funding rate of -0.0002%.Bybit scored 91.4, supports 122 contracts, has an open interest of approximately $91.865 million, a 24h trading volume of approximately $666 million, and a funding rate of +0.0006%.Compared to the same period last week, Bitget dropped from second to fourth place, and OKX dropped from third to sixth place.

According to the ranking data from RootData on stock derivatives exchanges, as of the time of writing, MEXC has the largest spread among the top ten exchanges, reaching 1.35%.The current top three rankings are Binance, Bitget, and Bybit. Among them, Binance has a score of 92 and a spread of 0.021%; Bitget has a score of 90.6 and a spread of 0.053%; Bybit has a score of 90.3 and a spread of 0.124%.

According to the official announcement, Kraken Pro has launched European-style cash-settled options contracts for Bitcoin (BTC) and Ethereum (ETH) for eligible professional and institutional clients. The new contracts feature a linear structure and are settled in USD, with the first batch supporting weekly, monthly, quarterly, and semi-annual expiration dates, traded through a request-for-quote (RFQ) mechanism.The platform defaults to combined margin, with spot, futures, and options sharing a unified wallet, supporting over 30 currencies as collateral. Kraken stated that it plans to introduce a public order book in the future, expand asset coverage, and expects to open to the European market in the second half of 2026.

Cryptocurrency trading platform Crypto.com has received a $400 million investment from Citadel Securities, bringing the company's valuation to $20 billion. This round of funding is Crypto.com's first institutional financing since its establishment in 2016.Crypto.com stated that it will use the funds to expand its business in tokenized securities, derivatives, and other asset classes.

According to the latest stock derivatives exchange ranking data from RootData, as of the time of publication, Binance, MEXC, and Bitget are in the top three. This list is based on comprehensive scoring of exchanges supporting stock derivatives trading, considering dimensions such as trading volume, open interest, spreads, depth, trading costs, and data collectability. Among them:Binance scored 91.6, supports 130 contracts, with an open interest of approximately $2.326 billion (-51.55%), and a 24h trading volume of approximately $16.392 billion (-22.63%), with a funding rate of +0.0003%.MEXC scored 91.3, supports 43 contracts, with an open interest of approximately $109 million (-0.55%), and a 24h trading volume of approximately $304 million (+18.93%), with a funding rate of +0.001%.Bitget scored 90.6, supports 233 contracts, with an open interest of approximately $733 million (-35.27%), and a 24h trading volume of approximately $1.711 billion (-34.64%), with a funding rate of +0.001%.Compared to yesterday, MEXC's ranking has jumped to second place, Binance's open interest has decreased by 51.55%, and Bitget's open interest has decreased by 35.27%.

According to the ranking data from RootData on stock derivatives exchanges, this list ranks and scores exchanges that support stock derivatives trading based on dimensions such as trading volume, open interest, spreads, depth, trading costs, and data collectability. Currently, the top three CEXs under the liquidity ±2% dimension are Binance, Bitget, and Bybit, among which:Binance scored 91.7, supports 130 contracts, with an open interest of $4.741 billion, and an open interest growth of approximately 89.91%; 24h trading volume is $20.033 billion, with liquidity ±2% approximately $310 million.Bitget scored 90.7, supports 233 contracts, with an open interest of $1.128 billion, and an open interest growth of approximately 43.55%; 24h trading volume is $2.346 billion, with liquidity ±2% approximately $249 million.Bybit scored 90.1, supports 98 contracts, with an open interest of $79.9289 million, and an open interest growth of approximately 4.63%; 24h trading volume is $734 million, with liquidity ±2% approximately $32.8389 million.

According to the latest stock derivatives exchange ranking data from RootData, Binance, Bitget, and Bybit are in the top three. This list is based on a comprehensive scoring of exchanges supporting stock derivatives, considering dimensions such as trading volume, open interest, spreads, depth, trading costs, and data collectability, among others:Binance scored 91.7, supporting 130 contracts, with a position size of approximately $4.733 billion, a 24h trading volume of approximately $20.863 billion, and a funding rate of +0.0002%.Bitget scored 90.7, supporting 233 contracts, with a position size of approximately $1.128 billion, a 24h trading volume of approximately $2.507 billion, and a funding rate of 0%.Bybit scored 90.2, supporting 98 contracts, with a position size of approximately $80.4994 million, a 24h trading volume of approximately $767 million, and a funding rate of +0.0001%.In the past week, OKX's ranking has dropped two positions, from second to fourth; Bitget has risen from third to second and maintained that position; Bybit has risen from fourth to third.

According to the latest ranking of stock derivatives exchanges released by RootData, Binance, Bitget, and OKX are in the top three. This list is based on comprehensive scoring of exchanges supporting stock derivatives trading, considering dimensions such as trading volume, open interest, spreads, depth, trading costs, and data collectability, among others:Binance scored 91.4, supports 130 contracts, with a position size of approximately $2.49 billion, a 24h trading volume of approximately $19.908 billion, and a funding rate of +0.004%.Bitget scored 90.4, supports 232 contracts, with a position size of approximately $826 million, a 24h trading volume of approximately $2.363 billion, and a funding rate of +0.0022%. OKX scored 90.3, supports 124 contracts, with a position size of approximately $480 million, a 24h trading volume of approximately $3.516 billion, and a funding rate of +0.001%.Compared to last week's ranking, Bitget and OKX have swapped places, with Bitget rising to second place and OKX dropping to third place.

The decentralized derivatives trading platform 01 Exchange officially announced that the retroactive points claim is now live. If users have traded during the testing phase, they can now claim additional points. Starting this Tuesday, bonus points will be distributed daily, and traders will receive the corresponding additional points over the next two weeks.Previously, 01 Exchange announced that it has been acquired by N1 Chain, a project supported by Founders Fund.

According to official news, the Gate stock derivatives section will launch on July 14 at 14:00 (UTC+8) with the debut of BOT (robot strategy closed-end fund), INTW (2x long Intel daily leveraged ETF), SNXX (2x long Sandisk daily leveraged ETF), XBI (State Street S&P Biotechnology ETF), and APP (Applovin) perpetual contract trading (settled in USDT), supporting 1-20x leverage.

Bitget has launched a stock derivatives trading event, with participation ending on July 20 at 18:00 (UTC+8). During the event, users who complete designated stock derivatives trading tasks will receive chances to enter a blind box lottery. Prizes include stock rewards such as rSPCX, rNVDA, rCRCL, and experience vouchers worth up to 1,000 USDT.In addition, the event features a trading volume leaderboard. The top 1,000 users by cumulative trading volume who reach a trading volume of 10,000 USDT will share a leaderboard prize pool of 20,000 USDT, with the champion receiving 2,000 USDT exclusively. For more details, please refer to the official Bitget platform.

Multicoin Capital Managing Partner Tushar Jain stated that the crypto market has bottomed out and entered a turning point, with current market sentiment truly reaching a low. Recent major hacking incidents and other news have not triggered large-scale sell-offs, application adoption rates continue to rise, and prices have become disconnected from fundamentals.He maintains a long-term optimistic view on Solana, believing that SOL is the correct architecture for spot trading and tokenized securities; he is also optimistic about Hyperliquid's leading position in the derivatives space, currently holding significant positions in both. Regarding ZEC, he mentioned that Multicoin has accumulated a considerable proportion of the supply and believes it represents a return to the "crypto-punk" values of the industry, with the potential to enter the top five by market capitalization.In terms of position management, he employs a "three-part method": immediately buying one-third, dollar-cost averaging the second one-third, and keeping the final one-third as flexible funds to respond to major declines. After confirming that no hackers exploited the Zcash code vulnerability incident, the team significantly increased their positions.

According to RootData's ranking data for stock derivatives exchanges, this list ranks and scores exchanges that support stock derivatives trading based on dimensions such as trading volume, open interest, spreads, depth, trading costs, and data collectability. Currently, the top three exchanges by 24h trading volume are Binance, OKX, and Bitget, among which:Binance scored 91.5, supports 125 contracts, has an open interest of approximately $2.265 billion, a 24h trading volume of approximately $13.889 billion, and a funding rate of +0.0027%.OKX scored 90.2, supports 120 contracts, has an open interest of approximately $444 million, a 24h trading volume of approximately $2.81 billion, and a funding rate of +0.0026%.Bitget scored 90.1, supports 228 contracts, has an open interest of approximately $762 million, a 24h trading volume of approximately $2.125 billion, and a funding rate of +0.001%.

Coinbase announced that it has obtained a UK investment services license (MiFID) and will provide traditional financial product trading services to UK users in the future. Institutional and professional traders will be able to trade perpetual contracts for cryptocurrencies, stocks, and commodities, while retail users will be able to trade stocks on the Coinbase platform for the first time.Coinbase stated that this license will form a regulatory framework together with its existing UK electronic money license and cryptocurrency asset registration qualifications, marking the largest expansion of product capabilities since the company entered the UK market, and will further advance its "Everything Exchange" strategy. In the future, the platform will gradually support services such as stablecoin payments, savings, lending, and tokenized real-world assets (RWA).

According to the official announcement, to meet the diverse investment needs of users, Bitget has launched perpetual contracts for 13 stocks and ETFs including TTWO (Take-Two Interactive Software), BSP (Bending Spoons), SUMIELEC (Sumitomo Electric), DISK (Tema Storage ETF), and BNC (CEA Industries).The above contracts are settled in USDT, support up to 20 times leverage, and allow for 24/7 trading. For more details, please refer to the Bitget official platform.

Crypto analyst Murphy pointed out that during Bitcoin's rebound from $58,000 to nearly $64,000, the relative trading volume of spot transactions quickly declined. A rebound lacking support from spot demand is difficult to establish a basis for a trend reversal and often represents merely a sentiment-driven recovery, necessitating attention to the sustainability of the rebound.On the positive side, the USDC/USDT exchange rate fell from 1.001 to 1.0006, indicating that the intention to exit is weakening and trading intentions are recovering. Although mainstream stablecoins on trading platforms are still in a state of net outflow, the outflow magnitude continues to narrow, and the marginal improvement in funding pressure supports the continuation of the rebound. However, the weakening of spot driving forces means that the weight of derivatives is relatively increasing. The 7-day average of perpetual contract long premiums has continuously risen to $160,000/hour, indicating that Taker buying pressure is persistently pushing perpetual prices above spot prices; although open interest has decreased, it remains significantly higher than levels seen in February of this year. Currently, the long premium is still within a normal range, but as the rebound continues, the risk of long squeezes will continue to accumulate—once open interest rebounds again, intense long-short battles will lead to faster and more abrupt volatility, which is a hidden risk that needs to be monitored in advance.

Ripple co-founder and executive chairman Chris Larsen has been reported to be involved in investing in the derivatives trading platform American Perpetuals Exchange Corp. (APEC), founded by New York Senator Kirsten Gillibrand's son, Theodore Gillibrand. The platform has raised $30 million, with most investors contributing between $5,000 and $10,000. The amount invested by Chris Larsen is unknown. Previously, Kirsten Gillibrand publicly stated that "members of Congress and government officials should not profit from the industry due to their insider status," but her spokesperson responded that Gillibrand has "no involvement" in her son's business.

According to the official announcement, to meet users' diverse investment needs, Bitget has launched contracts for 7 popular Hong Kong stocks: TENCENT, MEITUAN, NETEASE, XIAOMI, POPMART, SMIC, and GIGADEVICE. The above contracts are all settled in USDT, with a maximum leverage of 20 times.