PerpSky is a weekly research desk covering the whole perp market — centralised exchanges and on-chain perpetual DEXs — with open interest, funding, basis, liquidations and venue share published against a stated UTC snapshot and a named source.
Data as of week ending 11 October 2026. Full definitions and formulas on the methodology page. Source list on the sources page.
Twelve verified perpetual-futures developments from the week of October 5 - 11, 2026: the $546.89m long flush of 7 October, a record 435,564 open positions on Hyperliquid against thinning volume, the first negative ETF week in a month, the CFTC's CTX and CAM proposals, and a 30-year yield at a level last seen in 2002.
ReadThe week of October 5 - 11, 2026 in numbers: bitcoin closed at $83,679 (-3.2%), a $546.89m long flush on 7 October, Hyperliquid's record 435,564 positions against $4.54bn of daily volume, a $681.1m net ETF outflow, and a funding clock that never moved.
ReadThe desk's weekly intelligence read for the week of October 5 - 11, 2026: a minutes release that kept the hike path intact, a $546.89m long flush, a funding clock that never moved, record Hyperliquid positions on thinning volume, and the first negative ETF week in a month.
ReadThe weekly funding and open-interest read for the week of October 5 - 11, 2026: a flat funding clock through a $546.89m long flush, record Hyperliquid positions on thinning books, ETF flows as a spot-funding proxy that turned, and a collateral base that contracted.
ReadThe week of October 5 - 11, 2026: record open positions on the largest on-chain venue met the thinnest turnover in two months, spot demand turned, and a move of less than two percent produced a $546.89m one-sided flush of longs.
ReadTen to twenty developments from the past seven days, each with a source and a comment.
Read the latest issueThe week in numbers, against last week and against the prior four.
Read the latest issueThe same five questions, answered every week.
Read the latest issueWeekly funding and open interest update, plus a monthly structural report.
Read the latest issueOne subject, taken as far as the data allows.
Read the latest issueEvery figure on this site comes from a single verified dataset and carries a snapshot time and a named source. Percentages are printed alongside absolute changes. Where sources disagree, both figures appear. Where a number cannot be verified, it is printed as not disclosed rather than estimated. The full rules are on the methodology page and the permitted sources are listed on the sources page.
This week the tape unwound the prior issue's spot-led read from the other side of the book. Bitcoin failed at $87,000 for a third straight week, slid to an $80,315 low, and closed -3.2% at $83,679. The liquidations came from the longs this time: $546.89m over 24 hours on 7 October, with $400.24m of it inside a single hour. Spot demand softened with it — US spot bitcoin ETFs shed $681.1m to end a three-week inflow streak, and the Coinbase premium stayed negative all five sessions. Hyperliquid's book showed the other half of the story: record positions of 435,564 against daily volume of just $4.54bn, leaving open interest at close to four times the day's turnover. Thin books under record leverage is the configuration the desk flagged a week ago, and this week it paid.