Stock perpetual contract trading volume up 16.24%, still below August levels

Average daily trading volume for equity and ETF perpetual contracts across eight major crypto platforms rose 16.24% to $19.81 billion in October from $17.04 billion in September, but remained below August's $23.36 billion, according to a RootData Q4 outlook report. Open interest and ±2% order book depth for these products increased steadily across August, September and October even as turnover fell back from its August peak. The figures track derivatives contracts using stocks and ETFs as underlying assets rather than actual share trading or fresh capital entering the exchanges. The divergence between rising open interest and softer volumes suggests positions are being held rather than actively churned, and the next signal to watch is whether depth and open interest keep building into the fourth quarter or follow turnover lower.