Trading in real-world asset (RWA) perpetual futures reached a record $829 billion in October, up 29% from September, according to a new report from @PythNetwork. About half of the volume in the most active US stock perps took place while the New York Stock Exchange was closed.
Across the 25 most traded US stock perps, roughly 50% of volume came outside NYSE hours, up from 42% a month earlier. Open interest, the value of positions still held by traders, peaked at a record $14.6 billion in October. Venues using Pyth prices handled about 88% of the month's volume.
News Outside Market Hours Drives Activity
Much of the off-hours trading followed news that broke after the close, including after-the-bell earnings from SpaceX, Meta, Tesla and Intel. Perpetual contracts trade around the clock, which lets traders react to company announcements before US cash equity markets reopen.
The shift fits a broader trend in the segment. Pyth said in its third-quarter data that RWA perps volume priced with its data reached $2.04 trillion of $2.16 trillion in tracked volume, or 94.4% of the market. Open interest in the segment rose 79% to a record $12.6 billion in the third quarter, according to TokenPost.
Pyth's Role as a Price Source
Pyth operates as a decentralized price oracle. It supplies market data to decentralized applications and perpetual futures venues. Its October report separately put annual recurring revenue at $13.67 million, up 18.9%, as it expanded products such as Pyth Indices and its data marketplace.
The figures come from Pyth's own reporting and cover venues that use its price feeds, so they do not represent the full market. Still, they point to growing demand for continuous access to equity exposure, particularly around earnings and other news released outside US trading hours.
Sources:
Coinfomania: $829.4B Pyth Network Reports Record Volume in RWA Perpetuals
TokenPost: Pyth Data Priced $2.04 Trillion in Real-World Asset Perpetuals
Pyth Network: October 2026 Report