Perps vs xStocks, monthly volume
| Nov 2025 | NVDA | $501.8M | $6.5M | $0.0M | $508.3M | $394.6M | 1.29 | n/a |
| Dec 2025 | NVDA | $458.5M | $85.1M | $0.0M | $543.6M | $304.3M | 1.79 | n/a |
| Jan 2026 | NVDA | $315.2M | $101.0M | $0.0M | $416.3M | $490.1M | 0.85 | n/a |
| Feb 2026 | NVDA | $637.3M | $22.8M | $0.0M | $660.1M | $468.3M | 1.41 | n/a |
| Mar 2026 | NVDA | $885.8M | $25.7M | $0.0M | $911.5M | $376.2M | 2.42 | n/a |
| Apr 2026 | NVDA | $596.0M | $24.5M | $0.0M | $620.5M | $251.2M | 2.47 | n/a |
| May 2026 | NVDA | $1.76B | $91.5M | $0.0M | $1.85B | $247.9M | 7.48 | n/a |
| Jun 2026 | NVDA | $1.55B | $71.7M | $0.0M | $1.62B | $259.0M | 6.27 | n/a |
| Jul 2026 | NVDA | $1.54B | $37.9M | $3.6M | $1.58B | $159.5M | 9.89 | n/a |
| Aug 2026 | NVDA | $2.33B | $41.6M | $65.6M | $2.44B | $166.8M | 14.64 | n/a |
| Sep 2026 | NVDA | $1.45B | $121.3M | $193.4M | $1.77B | $349.6M | 5.05 | n/a |
| Nov 2025 | TSLA | $216.6M | $5.9M | $0.0M | $222.5M | $632.3M | 0.35 | n/a |
| Dec 2025 | TSLA | $474.2M | $128.7M | $0.0M | $602.9M | $487.0M | 1.24 | n/a |
| Jan 2026 | TSLA | $377.1M | $107.8M | $0.0M | $484.9M | $669.0M | 0.72 | n/a |
| Feb 2026 | TSLA | $314.1M | $13.0M | $0.0M | $327.2M | $704.1M | 0.46 | n/a |
| Mar 2026 | TSLA | $496.7M | $13.8M | $0.0M | $510.5M | $484.2M | 1.05 | n/a |
| Apr 2026 | TSLA | $583.1M | $17.3M | $0.0M | $600.4M | $529.1M | 1.13 | n/a |
| May 2026 | TSLA | $684.0M | $24.9M | $0.0M | $708.9M | $269.2M | 2.63 | n/a |
| Jun 2026 | TSLA | $587.1M | $35.2M | $0.0M | $622.3M | $245.8M | 2.53 | n/a |
| Jul 2026 | TSLA | $928.3M | $17.0M | $2.1M | $947.4M | $197.5M | 4.8 | n/a |
| Aug 2026 | TSLA | $607.8M | $15.4M | $30.2M | $653.3M | $146.7M | 4.45 | n/a |
| Sep 2026 | TSLA | $572.6M | $54.2M | $60.6M | $687.4M | $153.4M | 4.48 | n/a |
| Nov 2025 | SPY | $0.0M | $0.0M | $0.0M | $0.0M | $34.0M | 0 | $0.0M |
| Dec 2025 | SPY | $0.0M | $0.0M | $0.0M | $0.0M | $59.4M | 0 | $0.0M |
| Jan 2026 | SPY | $0.0M | $3.0M | $0.0M | $3.0M | $72.8M | 0.04 | $0.0M |
| Feb 2026 | SPY | $0.0M | $12.7M | $0.0M | $12.7M | $33.0M | 0.39 | $0.0M |
| Mar 2026 | SPY | $0.0M | $18.5M | $0.0M | $18.5M | $46.8M | 0.39 | $2.18B |
| Apr 2026 | SPY | $0.0M | $18.8M | $0.0M | $18.8M | $34.3M | 0.55 | $7.44B |
| May 2026 | SPY | $0.0M | $52.2M | $0.0M | $52.2M | $44.6M | 1.17 | $7.08B |
| Jun 2026 | SPY | $0.0M | $56.7M | $0.0M | $56.7M | $1.28B | 0.04 | $11.27B |
| Jul 2026 | SPY | $0.0M | $44.6M | $0.8M | $45.4M | $128.1M | 0.35 | $8.1B |
| Aug 2026 | SPY | $0.0M | $94.8M | $608.6M | $703.5M | $158.5M | 4.44 | $6.39B |
| Sep 2026 | SPY | $0.0M | $192.0M | $2.02B | $2.21B | $528.5M | 4.19 | $5.47B |
Hyperliquid
LighterSumcap Research