Crypto data aggregator Defillama added pre-IPO perpetual futures markets for four private companies: SpaceX, OpenAI, Anthropic, and Quantinuum. The platform now tracks 14 markets across these firms, allowing traders to take leveraged positions on synthetic prices tied to each company's expected valuation. SpaceX is set to price its IPO around June 11 at a valuation near $1.75 trillion. The markets offer price exposure without equity rights and are hosted on decentralized perpetual platforms including Aster, Lighter, and ApeX. The development arrives as onchain derivatives venues compete for volume, with Aster logging approximately $68 billion and Lighter approximately $50 billion in 30-day perpetual trading volume.
Defillama Tracks 14 Pre-IPO Markets Across Four Companies
Defillama's new listings cover SpaceX with six tracked markets, OpenAI and Anthropic with three markets each, and Quantinuum with two markets. The products are synthetic perpetual futures that settle against a market-implied estimate of each firm's per-share value. These contracts have no expiry date and allow traders to hold leveraged long or short positions indefinitely. The markets are hosted on perp-focused platforms including Aster, Lighter, and ApeX.
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Aster and Lighter Lead Perpetual DEX Volume Competition
Aster accounted for roughly $68 billion in 30-day perpetual DEX volume, while Lighter recorded about $50 billion over the same span. Aster had already launched a synthetic SpaceX perpetual under the ticker SPCX and an OpenAI contract with up to 5x leverage before the latest expansion. A wave of similar products has appeared since May 2026, with centralized platforms such as OKX, Binance Futures, and Crypto.com rolling out their own pre-IPO contracts targeting OpenAI, SpaceX, and Anthropic.
SpaceX IPO Pricing Scheduled Around June 11
SpaceX is reportedly set to price its initial public offering around mid-June ahead of a public debut, targeting a valuation near $1.75 trillion in what could become the largest IPO in history. Anthropic has filed confidentially and is eyeing a listing as soon as October. OpenAI has also filed a draft S-1. Quantinuum, the Honeywell-backed quantum-computing firm, is also moving toward a debut.
Hyperliquid SpaceX Perpetual Suffered 45% Flash Crash
A SpaceX pre-market perpetual on Hyperliquid suffered a 45% flash crash, wiping out more than $1.5 million in leveraged positions in 30 minutes as thin liquidity gave way. The incident highlights the risks associated with synthetic markets, including leverage, thin liquidity, and flash-crash vulnerability.
FAQ
What pre-IPO perpetual markets did Defillama add?
Defillama added 14 pre-IPO perpetual futures markets covering SpaceX, OpenAI, Anthropic, and Quantinuum. SpaceX has six tracked markets, OpenAI and Anthropic each have three, and Quantinuum has two. The markets are hosted on Aster, Lighter, and ApeX.
When is SpaceX set to price its IPO?
SpaceX is set to price its IPO around June 11 at a valuation near $1.75 trillion, according to the source.
How much perpetual DEX volume did Aster and Lighter record?
Aster logged approximately $68 billion in 30-day perpetual DEX volume, while Lighter recorded about $50 billion over the same period.
