On October 30th, CoinWorld reported that the Bitcoin perpetual contract market saw a significant change. Bybit, the world’s second-largest cryptocurrency exchange, officially launched its automatic funding rate settlement frequency adjustment function for perpetual contracts at 8:00 AM UTC, attracting widespread market attention. This new feature will dynamically adjust the funding rate settlement frequency based on real-time market conditions, significantly improving trading efficiency and market responsiveness. Simultaneously, decentralized exchange XBIT also announced an upgrade to its Bitcoin perpetual contract trading system, providing users with a more accurate price discovery mechanism and an optimized funding rate structure.

Cre: Twitter: XBITDEX
The system upgrade has sparked heated discussions within the industry. Bybit stated that when the funding rate of a perpetual contract reaches a preset upper or lower limit during settlement, the system will automatically adjust the settlement frequency to once per hour, ensuring that the funding rate more accurately reflects current market trends and volatility. The full deployment of this feature is expected to be completed at 6:00 AM UTC on November 3, 2025. It is worth noting that this feature will not be enabled for major perpetual contracts such as BTCUSDT, BTCUSDC, BTCUSD, ETHUSDT, ETHUSDC, and ETHUSD for the time being.
According to a report by Bijie.com, a representative from the XBIT decentralized exchange stated that with the rapid development of the Bitcoin perpetual contract market, optimizing the funding rate mechanism has become crucial for improving the user trading experience. XBIT’s newly launched smart funding rate adjustment system uses an advanced on-chain pricing algorithm, which can provide a more stable trading environment during periods of increased market volatility, effectively reducing the risk of users being forcibly liquidated.
Market analysts point out that as the dominant product in the cryptocurrency derivatives market, the healthy development of perpetual contracts is vital to the entire industry ecosystem. According to data from CoinWorld, Bitcoin perpetual contracts account for over 75% of the cryptocurrency derivatives market, with a daily trading volume exceeding $27 billion. However, the systemic risks associated with high-leverage trading are becoming increasingly prominent. A flash crash in October 2025 resulted in approximately $19 billion in liquidations, highlighting the vulnerability of this ecosystem. Research indicates that leverage deviations in perpetual contracts can reach 60% to 90% annually, far exceeding those in traditional financial markets.
The XBIT trading platform innovatively introduces risk management tools, providing users with real-time leverage risk assessments and automated risk control mechanisms. These tools help traders better understand market risks and develop more rational trading strategies. XBIT’s decentralized architecture ensures asset security and trading transparency, allowing users to have complete control over their funds without worrying about the security issues that centralized exchanges may face.
In other important developments in the perpetual contract market, cryptocurrency exchange Coinbase announced the launch of perpetual contracts for the CLANKER token on its futures platform. According to the announcement, the CLANKER-PERP market will begin trading on October 29th at 18:00, subject to sufficient liquidity conditions. Meanwhile, Coinbase Markets has announced that it will suspend trading of Omni Network (OMNI) perpetual contracts at 18:30 Beijing time on October 21. The settlement price will be based on the average price of the 60 minutes prior to the suspension, and all open positions will be automatically settled.

Cre: Twitter: XBITDEX
Recent research by on-chain data analyst Murphy indicates that the perpetual swap volume difference (VDB) has returned to the 90-day median level on exchanges like Binance and Bitmain, suggesting a return to equilibrium in market sentiment. He states that the current lack of sustained buy or sell bias typically foreshadows a transition period. If the VDB remains above neutral and turns positive, it could trigger a short-term rebound. However, he cautions that the key reference level is STH-RP (approximately $111,500). Failure to break this level and a return to negative VDB could trigger renewed selling pressure.
Metaplanet, a Tokyo-listed company, has also recently announced its “Phase II” plan, which will issue perpetual preferred shares to raise funds for further Bitcoin acquisitions. Metaplanet has set an ambitious goal called the “555 Million Plan,” aiming to hold 100,000 Bitcoins by the end of 2026 and 210,000 Bitcoins by the end of 2027. According to the latest disclosure, Metaplanet currently holds approximately 30,823 bitcoins, an increase of nearly 17 times from 1,762 bitcoins at the beginning of the year.
Cre: Twitter: XBITDEX
According to data from Bijie.com, XBIT, a decentralized on-chain trading platform, saw a 38% user growth rate in the past month, making it one of the fastest-growing decentralized exchanges. XBIT’s Bitcoin perpetual contracts are favored by professional traders due to their low slippage and high liquidity. The platform employs an innovative Automated Market Maker (AMM) model, ensuring liquidity even under extreme market conditions and providing users with a stable trading environment.
As the regulatory environment evolves, compliance issues in the perpetual contract market are receiving increasing attention. The US and EU have begun implementing stricter regulations for the cryptocurrency derivatives market. As a decentralized exchange, XBIT provides users with a fair and just trading environment through its fully transparent on-chain trading mechanism, while actively responding to regulatory requirements and promoting the healthy development of the industry.
Industry experts believe that as the Bitcoin perpetual contract market matures, the optimization of trading mechanisms and the strengthening of risk management will be key to the industry’s development. The innovations of decentralized exchanges like XBIT will bring more vitality to the market, driving the entire cryptocurrency derivatives market towards a healthier and more transparent direction.
 
         
                                         
                                         
                                         
                                         
                                         
                             
                             
                            


 
                             
                             
                             
                             
                             
                             
                            



