SPCX perpetual contract on Hyperliquid rises to $183, implying a 36% premium over SpaceX’s $135 IPO price after earlier declines.
A SpaceX-linked perpetual contract, SPCX, traded between $176 and $183 on Friday, recovering from a low near $153 earlier in the week. The rebound implies a 36% premium over SpaceX’s $135 IPO price, up from 16% on Wednesday but below May’s 60% peak.
Open interest in the contract stood at $216 million, with 24-hour volume exceeding $150 million on Hyperliquid. Other shadow markets, including derivatives and prediction platforms, signal strong demand, with implied valuations over 35% above the IPO level.
The contract does not confer ownership of SpaceX shares or allocation rights, functioning as a cash-settled derivative. Market sentiment suggests expectations of a first-day valuation surpassing $2 trillion.