Oil news: Crypto giant debuts WTI trading, but it's a different model to Hyperliquid's perps

Crypto market-making giant Wintermute, through its derivatives unit Wintermute Asia, has launched over-the-counter (OTC) trading for WTI crude oil Contracts for Difference (CFDs). This move addresses the need for 24/7 trading, especially highlighted by recent geopolitical volatility where traditional markets were closed over weekends. Unlike perpetual futures offered by platforms like Hyperliquid, Wintermute's CFD model allows traders to speculate on price movements without owning the asset, with the difference in opening and closing prices being exchanged. This OTC structure offers bespoke flexibility preferred by professional traders and institutions. Wintermute acts as the direct counterparty, leveraging its risk management and liquidity, offering zero trading fees and accepting fiat or crypto as margin. This launch expands Wintermute Asia's offerings beyond purely digital assets, following its recent introduction of tokenized gold.

(Source：CoinDesk)