Tracking the AI trade in prediction markets and perpetuals

Institutional demand for hedges against AI risk is now explicit enough that NYMEX is listing futures on GPU rental costs. On prediction markets and perpetual futures, the same risk has been trading for months, and that data shows where the leverage in the AI trade actually sits, what the market expects compute to cost, and which legs of the trade are barely traded.

What Korea's chip crash showed about Hyperliquid's equity markets

How Hyperliquid's HIP-3 perpetuals handled July's Korean semiconductor crash: $21.8B of synthetic SK Hynix exposure traded through Seoul's trading halts, funding rates split between the Nasdaq ADR and the ordinary shares, and thin order-book depth plus flat month-end positioning suggest institutional allocators have not yet arrived at scale.

Prediction markets are the real winners of the World Cup

Kalshi and Polymarket cleared $19 billion in notional volume on 2026 FIFA World Cup markets, more than the entire US legal sportsbook handle. In this issue we break down how volume, participation, and pricing diverged between the two venues.

Dune Now Accepts Stablecoin Payments via Stripe

Dune is one of the first companies in the EU to accept stablecoin payments via Stripe.

Hyperliquid HyperCore Is Now Live on Dune

Hyperliquid's HyperCore trading engine data is now live on Dune. Orders, fills, funding, the order book, and HIP-4 prediction markets are ready to query.

Midnight Is Now Live on Dune

Midnight, the privacy-enhancing L1, and first partner chain to Cardano, is now queryable, visualizable, and exportable through Dune.

Capital Efficiency in Concentrated Liquidity

A study prepared by Dune for 1inch on idle liquidity, foregone fees, and what it takes to compete with CEXs.

A Behavioral Map of Stablecoins

Market cap and transfer volume define stablecoins as one category, with USDT and USDC on top and everything else trailing. But stablecoins are used in very different ways, and almost behave like distinct products.

Cronos Is Now Live on Dune

Cronos is now live on Dune. Transactions, trades, settlement flows, and smart contract interactions across the network are queryable, visualizable, and verifiable.