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RWA perps surged in 2026, led by oil and other tokenized assets
Volume for RWA perps reached $347 billion in May, a 1,472-fold jump from $230 million traded at the start of 2025, while DEX open interest hit $4.5 billion in July.
CoinDesk reports that real world asset, or RWA, derivatives traded on perpetual contracts, known as RWA perps, are growing faster than tokenization itself, with major activity increasingly tied to assets like commodities and AI-linked equities.
The outlet cites performance metrics showing RWA perps hit $347 billion in volume in May, up 1,472 times from $230 million at the start of 2025. It also points to daily open interest on decentralized exchanges reaching $4.5 billion in July.
CoinDesk says the expansion is supported by demand from crypto traders looking for exposure to RWAs, as well as product differences versus TradFi alternatives. It notes perps run 24/7, unlike commodities futures or equity options that have trading cutoffs when traditional markets close.
The article adds that exchange activity has accelerated, with exchanges facilitating $1.32 trillion in volume by the end of May, about 13 times what was seen across all of 2025. It also mentions that the Iran conflict appeared in oil perps on Hyperliquid before CME reopened.