In 2025, trading volume of perpetual contracts will surpass that of spot contracts on both centralized and decentralized exchanges

Perpetual swaps will account for 75% of trading volume on CEXs, generating nearly 49 trillion USD. In contrast, spot trading will total 14.8 trillion USD, highlighting the dominance of perpetual contracts.

On DEXs, perpetual swaps will increase from 50% to 56% of total volume. On-chain perpetual swap trading will hit 4.7 trillion USD, with spot trading at 3.6 trillion USD.