Key Facts
- Binance Research said average daily TradFi-perps volume rose from about $3 billion in January 2026 to $8.6 billion in March 2026.
- Binance held roughly 41% of TradFi-perps market share, while centralised exchanges accounted for about 70% of activity.
- Binance Research found silver perpetuals reached about 40% of equivalent COMEX SI contract volume at their peak.
- The report said weekend moves in gold perpetuals had a 0.80 correlation with Monday futures gaps and predicted direction correctly 89% of the time.
Binance Research says TradFi-perps are moving from niche product to emerging market segment, with trading volumes rising quickly and early signs that weekend trading is becoming a genuine price discovery venue.
In its April 9, 2026 report, Binance Research’s “Weekly: The Rise of TradFi-Perps” argued that crypto-style perpetual futures tied to traditional assets are gaining traction because they offer 24/7 access, no expiry, and more flexible positioning than standard futures contracts.
Binance Research says TradFi-perps volume is accelerating
Binance Research said average daily TradFi-perps volume increased from about $3 billion in January 2026 to $8.6 billion in March 2026. The same report said aggregated monthly TradFi-perps volume climbed from $8 billion in November 2025 to $256 billion in March 2026.
According to Binance Research, Binance held about 41% of the market among exchanges offering these products. The report also said the market remains CEX-led, with centralised exchanges accounting for roughly 70% of activity, compared with about 30% for decentralised venues.
That split suggests traders still prioritise liquidity depth and execution quality when using perpetuals linked to traditional assets.
TradFi-perps are starting to compete with legacy futures
Binance Research compared TradFi-perps with incumbent futures markets and found that silver perpetuals have become the clearest early success case. The report said silver perps traded about $240 billion since November and at their peak reached roughly 40% of the equivalent volume of COMEX’s SI contract.
The report also said gold perpetuals have already exceeded the trading volumes of several regional gold futures exchanges by orders of magnitude. Binance Research presented that as evidence that crypto-native derivatives infrastructure is beginning to compete for traditional market flow, not just complement it.
FinanceFeeds has already covered this convergence from multiple angles, including Binance’s stock-perps contract endpoint and LMAX Group’s gold perpetual futures launch.
Weekend trading is becoming a real use case
One of the clearest points in the Binance Research report is that weekend trading is no longer just a novelty. The firm said weekend TradFi-perps volume rose by about 300% from January to March 2026 and averaged 38% of weekday volume over the prior four weeks.
Binance Research highlighted one specific stress event: on the weekend of February 28 to March 1, weekend volume rose to $8.1 billion. According to the report, that was equal to about 116% of the previous average weekday volume and 862% above the average weekend volume recorded up to that point.
The implication is straightforward: when macro or geopolitical events hit outside standard market hours, traders are increasingly using perpetuals to hedge risk or express views immediately.
Binance Research says price discovery is early but meaningful
Binance Research also tested whether weekend TradFi-perps trading produces useful price signals ahead of Monday’s open in traditional futures. Using gold perpetuals, the report found a 0.80 correlation with the Monday opening gap in the primary traditional futures contract, with an R-squared of 0.66.
The report defined a “weekend capture ratio” as the share of Monday’s gap already reflected in weekend trading. Binance Research said the median capture ratio was 57%, while weekend price action predicted the direction of Monday’s opening gap 89% of the time.
Those figures do not prove that TradFi-perps have replaced traditional price discovery. They do suggest, however, that these markets are becoming a credible source of weekend signals.
FAQ
What are TradFi-perps?
TradFi-perps are perpetual futures linked to traditional financial assets such as gold, oil, equities, or indices. Unlike standard futures, TradFi-perps do not expire and can trade continuously through a funding-rate mechanism.
Why does Binance Research think TradFi-perps matter?
Binance Research says TradFi-perps matter because they offer 24/7 market access, reduce rollover friction, and let traders react to events that happen when legacy exchanges are closed. The report also argues that liquidity and price discovery are improving quickly.
Are TradFi-perps already mainstream?
Not yet. Binance Research describes the sector as early-stage, but the report says volume growth, growing weekend participation, and competition with legacy futures contracts show that adoption is accelerating.
Binance Research’s conclusion is clear: TradFi-perps are still early, but the market is no longer theoretical. If volume growth, exchange competition, and weekend price discovery continue at the current pace, perpetuals tied to traditional assets could become a lasting part of the global derivatives landscape.
