Hyperliquid oil perps lead 80% of WTI price moves before CME opens

TD Securities reports that Hyperliquid’s oil-linked perpetual futures now lead traditional markets, pricing roughly 80% of subsequent WTI moves before the CME reopens. The offshore venue’s weekend notional volume surged from $25 million to $550 million amid Iran-related volatility, with WTI and Brent contracts driving nearly half of total activity. This price-discovery edge prompted the CFTC’s May 30 approval of the first US bitcoin perpetual on Kalshi, clearing the way for regulated venues to offer similar 24/7 leveraged contracts in commodities and equities.