A perpetual futures contract tied to Sandisk Corporation (SNDK) traded 4.63% above the stock's last regular-session close on Hyperliquid early Monday, while U.S. cash markets were closed.
The xyz contract was quoted at $1,359.50 at 7 a.m. ET (11:00 UTC) on Oct. 19. Sandisk shares had closed at $1,299.30 on Oct. 16, leaving a $60.20 gap between the futures quote and the last cash-market price.
Hyperliquid data showed $2.34 billion in trading across 136 xyz instruments over the preceding 24 hours. Open interest, the value of positions still open, stood at $3.77 billion.
At $369.85 million, SKHX had the highest 24-hour turnover among the xyz instruments. Nasdaq 100 and S&P 500 contracts followed at $311.61 million and $231.21 million. Their quotes were 1.28% and 0.56% above their respective cash closes.
The Sandisk-linked quote was above the cash close after an earlier weekend reading put it 1.68% below. These contracts provide price exposure, but holding one does not give a trader shares, dividends or voting rights.
