Blockworks: Crypto perpetual contract infrastructure is accelerating its spillover to traditional assets

CoinFeed reported on April 3rd that, according to Blockworks, the perpetual contract infrastructure, originally used for crypto asset trading, is increasingly being used for perpetual contract trading of traditional financial (TradFi) assets. In 2025, almost 100% of the notional open interest in perpetual contracts came from crypto assets; now, in less than 16 months, the proportion of crypto assets in the overall open interest of perpetual contracts has consistently fallen below 80%, indicating a significant increase in the proportion of TradFi assets in the perpetual contract market.