Defillama Adds Pre-IPO Perps for SpaceX, OpenAI, Anthropic

Defillama added pre-IPO perpetual futures for SpaceX, OpenAI, Anthropic and Quantinuum and now tracks 14 separate markets across several platforms. Data show Aster recorded roughly $68 billion and Lighter about $50 billion in 30-day perpetual-futures volume.

The listings are synthetic perpetual futures that reference an implied per-share valuation for each private company. Contracts offer long and short exposure without granting equity, voting rights or dividends. Traders can hold positions indefinitely and use leverage; contracts settle against market-implied price estimates or oracle feeds.

The tracked markets sit on multiple decentralized perpetual platforms, including Aster, Lighter and ApeX. Defillama’s tracker shows SpaceX present in six markets, OpenAI and Anthropic in three each, and Quantinuum in two. Centralized derivatives venues such as OKX, Binance Futures and Crypto.com have launched similar pre-IPO contracts since May 2026. Aster previously listed a SpaceX perpetual under the ticker SPCX and an OpenAI contract with up to 5x leverage.

These synthetic markets carry liquidity and leverage risks. On one platform, a SpaceX pre-IPO perpetual fell about 45% in a short period, erasing more than $1.5 million in leveraged positions within roughly 30 minutes as limited order-book depth amplified price moves.

The timing of the listings coincides with a pipeline of expected public debuts for the firms. SpaceX is expected to price an initial public offering around mid-June with reports of a target valuation near $1.75 trillion. Anthropic has filed confidentially and is reportedly targeting a possible October listing. OpenAI has taken confidential-filings steps, and Quantinuum is preparing for a public offering.

Perpetual futures are derivatives with no scheduled expiry that settle continuously and let holders maintain positions using margin and leverage. On-chain versions replicate that structure on decentralized exchanges by referencing off-chain estimates or oracle-derived prices for firms that are not publicly traded. Since May 2026, both decentralized and centralized venues have broadened pre-IPO offerings, concentrating a large share of recent perpetual-futures volume on DEX platforms.