What changed
- Perpetual futures trade above the spot price in 5 of the 10 largest markets.
Perp price against spot
% · + above spot
Largest gaps
Markets with $10M or more of open interest.
| Market | Perp vs spot | Perp price | Spot | Open interest |
|---|---|---|---|---|
| XPL | +0.20% | $0.08096 | $0.08082 | $90.1M |
| XMR | +0.11% | $595.26 | $594.32 | $138.6M |
| KPEPE | +0.10% | $0.004952 | $0.004946 | $66.0M |
| ZRO | +0.08% | $1.71 | $1.71 | $69.3M |
| LTC | −0.07% | $55.25 | $55.30 | $22.1M |
| GRAM | −0.07% | $1.17 | $1.17 | $23.3M |
| XLM | −0.07% | $0.1688 | $0.1689 | $10.8M |
| AAVE | −0.07% | $128.10 | $128.23 | $57.4M |
| ADA | −0.06% | $0.1943 | $0.1945 | $28.4M |
| HYPE | +0.05% | $89.68 | $89.63 | $1.98B |
How this is measured
The premium is the gap between a perpetual's mark price and the spot (oracle) price it tracks, as a percentage of spot. It feeds into the funding rate. Markets with at least $10M of open interest are shown, largest gap first.
Source: Hyperliquid mark and oracle prices (premium = perp over spot). Data as of 30 Oct 2026, 21:36 UTC.
Why it matters
A perpetual above spot means buyers of leverage are paying up; below spot means sellers are. Large gaps tend to close through funding payments or a price move on either side.
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Sources & notes
- Hyperliquid mark and oracle prices (premium = perp over spot), read through the Fexr API at 30 Oct 2026, 21:36 UTC.
- Market data, not investment advice. Positions and rates change minute to minute.
- How Fexr reports · Weekly editions