LC Insight
Friday, November 13, 2026Read the chain, not the rumors.

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#Perpetuals

Perpetuals news and analysis from LC Insight: 11 stories, newest first.

Markets

Stock and oil bets outtraded crypto on Hyperliquid: $9.96 billion vs. $9.67 billion

CoinGecko's market data for Hyperliquid shows its 165 builder-run markets, almost all on stocks, indexes and commodities, did more volume than its 179 crypto perps as bitcoin fell 5%.

Markets

Ether jumped 4.6% in two hours and bitcoin is back above $80,000. Big traders are 86% long

Most of ether's 5.5% daily gain came between 9 and 11 a.m. ET on November 4, CoinGecko's data shows. DeepSea counts $3.35 billion in long bets against $543.87 million in shorts.

Markets

Two Hyperliquid wallets are up $20.7 million on open bets. The crowd is down $2.19 million

DeepSea's weekly data names the biggest paper winners on Hyperliquid, a 40x bitcoin short opened on October 31, and an ether short now 3.3% from forced closing.

Markets

Hyperliquid's big traders bet $3.78 billion on a drop. One put $126 million on HYPE rising

DeepSea's tracked traders held six dollars of shorts for every dollar of longs last week. Against that tide, one wallet opened a $126.62 million HYPE long, and a 40x bitcoin bet sat 2.4% from liquidation.

Airdrops

MetaMask's points season ended in LINEA allocations. It has "no plans" for a MASK token

MetaMask Rewards Season 1, from October 28, 2025, to January 23, 2026, gave users above 1,000 points a LINEA allocation. LINEA now trades about 28% below its price on February 23, when MetaMask said the claim window had closed, and the help center says there is no $MASK token plan and no next season, only short campaigns paid in mUSD.

Guides

Copy trading explained: how it works, what lead traders take and why results differ

Copy trading lets you automatically mirror another trader's positions on an exchange, in return for a share of any profit. Your results can differ from theirs because of order size, slippage and timing, and regulators warn it can encourage herd behavior and frequent trading.

Guides

How crypto liquidations work: why a 10% move can wipe out a 10x trade

A liquidation is when an exchange force-closes a leveraged trade because losses have eaten through the trader's collateral. It protects the exchange and other traders from debts the trader cannot pay.

Guides

Perpetual futures funding rates explained: how 0.05% can cost 55% a year

A funding rate is a small payment that traders of perpetual futures make to each other to keep the contract's price close to the real market price. When it is positive, longs pay shorts. When it is negative, shorts pay longs.

Guides

What is Hyperliquid? How the $188B-a-month onchain perps exchange works

Hyperliquid is a blockchain built for trading. Its HyperCore engine runs perpetual futures and spot order books fully onchain, and DefiLlama showed $188.1 billion of perp volume in the 30 days to November 2, 2026.

Projects

StandX cancels its token and shuts down. Users get one DUSD payout of unknown size

The perpetuals exchange on BNB Chain and Solana dropped its token plans, switched trading to close-only and opened a one-time DUSD airdrop claim on October 31, 2026. It has not said how big the pool is, and the claim closes on December 31.

Projects

Variational will give users 32% of VAR, fully unlocked. Why did the launch slip to Q4?

The derivatives protocol behind the zero-fee Omni app, backed by a $50 million Dragonfly-led round, pushed its token launch to Q4 2026, citing unnamed partnerships. Points farmers are still earning 150,000 points a week.