SpaceX perpetual futures on Hyperliquid rose as high as $181 on 11 Jun before easing to around $174, above the company’s IPO price of $135. Open interest on the contract stood near $237mn, with 24-hour volume above $207mn.
SpaceX Pre-IPO Perps Trade Above IPO Price on Hyperliquid
12 June 2026 - 12:50 CEST
By Isabelle Castro
IPO launches at $1.77tn valuation
SpaceX begins trading on Nasdaq at 14:00UTC on 12 Jun after raising $75bn in what is being described as the largest IPO in history. The company lists at $135 a share, giving it an estimated valuation of $1.77tn.
Traders on Polymarket have assigned a 74% probability that SpaceX closes above a $2tn valuation on its first day of trading.
Other platforms offer SpaceX pre-IPO contracts
Several major exchanges have launched SpaceX pre-IPO perpetual futures in recent weeks. Binance, Coinbase, Kraken and Bybit have all introduced contracts, with leverage ranging from 3x to 10x.
Binance, which listed its contract on 21 May, told Sandmark on 10 Jun that its SpaceX perps had generated $2.1bn in cumulative trading volume in their first 18 days, with traders from more than 130 countries participating.
"We’re also encouraged to see that liquidity, as measured by volume and market depth for SPCXUSDT, mimics that of mature contracts, which points to a healthy market ecosystem," said Shunyet Jan, head of spot and derivatives business at Binance.
