A research report from CoinDesk, released on October 7, 2026, identifies Binance as the primary liquidity provider for SanDisk (SNDK) perpetual futures. The exchange leads the market in order book depth, trading volume, and open interest.
Binance reports a displayed depth of approximately $10.9 million within a 0.5% range of the mid-price for its SanDisk contract. The platform recorded a 30-day trading volume of $41 billion, while open interest on the contract stands at $240 million.
Across all tracked platforms, total open interest for SanDisk contracts fluctuates between $870 million and $950 million. Binance maintains a dominant position in the tokenized equities segment, capturing an estimated 55–58% share of total volume and open interest.
OKX currently ranks second in liquidity metrics, while Hyperliquid holds the third position. Hyperliquid provides access to SNDK through its HIP-3 tokenized markets, though its overall trading footprint remains smaller than that of its competitors.
The report notes that SanDisk perpetual contracts have occasionally exceeded the trading volumes of Bitcoin and Ethereum contracts on Binance. This activity follows the company's spin-out from Western Digital and increased investor interest in AI-related technology assets.
