Wintermute Launches Crude Oil CFD Benchmarked Against Hyperliquid Perpetual Contracts, Institutional Capital Rushes to Capture 24-Hour Oil Trading Track

Gate News, March 25 — As tensions in Iran continue to drive volatility in energy markets, the crypto industry is accelerating the development of all-weather trading scenarios for traditional assets like crude oil. Recently, market maker giant Wintermute launched an over-the-counter (OTC) trading service for WTI crude oil CFDs through its derivatives division, Wintermute Asia, carving out a path different from Hyperliquid’s perpetual futures.

CFDs, as derivative instruments, allow traders to participate in price movements without owning the physical oil. Their settlement is based on the difference between opening and closing prices. Unlike standardized perpetual contracts, CFDs can be customized according to trading size, duration, and margin, making them more suitable for institutional hedging and strategic trading needs.

This product launch comes amid ongoing tensions in the Middle East, when traditional financial markets are closed over the weekend, forcing capital to seek alternative channels. Evgeny Gaevoy stated that more and more counterparties are looking to leverage crypto infrastructure to hedge crude oil risks or capture volatility opportunities when traditional markets are shut.

Notably, Wintermute directly acts as the counterparty in this model, assuming risk rather than matching trades. This requires the firm to rely on its own liquidity reserves and risk management systems to provide continuous quotes and execution, transforming 24-hour crude oil trading demand into revenue.

In terms of product design, users can use fiat or crypto assets as collateral and execute trades via API or OTC channels, enjoying a zero-fee structure. Following the launch of tokenized gold, Wintermute is gradually expanding its business from crypto assets into the broader commodities sector.

Currently, the boundary between crypto markets and traditional finance is further blurring. Competition around on-chain derivatives for assets like oil and gold is intensifying, and the differentiation among various models may determine the flow of institutional funds in the next phase. (CoinDesk)