Markets · ASTER up to 150x
Aster exchange accounted for 99.7% of the rise in ASTER perp positions across five venues
Open positions grew 11.8% in token terms from November 6 to 10. A falling token price held the gain in their dollar value to 2.6%.
Traders on Aster added perpetual futures positions equivalent to 18.3 million ASTER tokens between November 6 and 10. Four other venues with comparable records added just 62,000 tokens’ worth between them.
The contracts let traders take a position on the token’s price without owning it. Across the five venues, the amount outstanding rose from 156.1 million to 174.5 million tokens. That increase was worth $11.5 million at the November 10 reference price of about 63 cents per token.
| Aster | $11,494,845 | $99,292,624 |
|---|---|---|
| Hyperliquid | $20,145 | $9,673,751 |
| dYdX | $12,470 | $26,885 |
| Lighter | $6,445 | $646,065 |
| Veranta | $0 | $1,000 |
Each bar values the open units on the same five venues at the November 10 reference price of $0.6283 per ASTER. Dates are Eastern time.
| November 6 | $98.1M |
|---|---|
| November 7 | $100.1M |
| November 8 | $99.8M |
| November 9 | $104.9M |
| November 10 | $109.6M |
Why the dollar gain looked smaller
Over the same four days, the implied price across those venues fell from about 68.5 cents to 62.8 cents. At the prices prevailing on each date, the open positions rose in value from $106.9 million to $109.6 million, a gain of $2.7 million.
The chart values every observation at the November 10 price, so it shows when the number of open contracts changed. Most of the increase came after the November 8 reading.
Where the open positions were
Aster held $99.3 million in open positions at its own mark price on November 10. Across all 27 venues reporting an open-interest figure, the total was $291.5 million. Only five supplied comparable contract counts at each of the five observations.
Each open futures contract has a long and a short. A trader who already owns ASTER could sell a perp to hedge a price decline. The exchange totals alone cannot distinguish that hedge from a bet against the token.