Perpetual contracts accounted for about half of trading volume tied to NVIDIA Corporation (NVDA) while U.S. stock markets were closed, Binance Research said, as derivatives activity continued beyond the equity session.
For the Friday-to-Monday period, Binance Research said perpetual pricing had reflected 96% of a 7.3% decline by the time U.S. trading opened Monday. The post put the overnight portion of the Monday-to-Tuesday move at 91%. In both periods, perpetual prices were within 0.3% of the opening level.
The estimate covered NVDA perpetual trading but did not identify Binance's own contract as its scope. Binance separately says its NVDAUSDT perpetual tracks NVIDIA common stock, trades around the clock and settles in Tether (USDT). The contract is a derivative market distinct from the shares, and its price may differ from the underlying asset's spot price, Binance says. An earlier EconoTimes report explained the difference between Binance's NVDAUSDT contract and NVIDIA shares.
