SpaceX IPO opens new opportunities for investors and traders. Here is how SpaceX stock compares with SPCX perpetual contracts on Hyperliquid.
The SpaceX IPO has created excitement across traditional finance and crypto markets. The company went public valued at more than $1.7 trillion. This has created new opportunities for investors to gain exposure to SpaceX. Some are choosing to purchase real shares, while others are opting for perpetual contracts on crypto, like SPCX on Hyperliquid.
SPACEX: STOCK OR PERPS?
The SpaceX IPO is here. Traders can gain exposure through traditional equity or crypto-native perpetual contracts.
Our research team breaks down the mechanics, risks, and differences between owning SpaceX stock vs trading SPCX on Hyperliquid. Read below: pic.twitter.com/W3q7YWkwPH
— Arkham (@arkham) June 13, 2026
For years, only institutions and accredited investors were able to invest in SpaceX. But decentralized finance platforms have begun to provide other products. So, retail traders can now speculate on SpaceX price movements before and after the IPO, using blockchain-based markets.
Why Are Investors Comparing SpaceX Stock and SPCX Perpetual Contracts?
According to Arkham, traditional SpaceX stock provides investors with a direct stake in the company. Thus, the shareholders have a stake in the business. Additionally, stockholders may also have voting rights and future dividends, if the company chooses to pay them.
Another benefit is that the stock is priced in line with the public market price of the company. This means that investors have exposure to the true performance of SpaceX. Long-term investors might also feel more attached to the company since they are the owners of real equity.
But there are some restrictions on stock ownership. Many retail investors were unable to access before the IPO. Also, conventional stock trading typically provides less leverage than crypto derivatives. So, traders who want to take a bigger short-term shot may want to consider other options.
Meanwhile, SPCX perpetual contracts are another way to go. The SPCX contract is running on Hyperliquid via the HIP-3 upgrade.SPCX contract is currently on Hyperliquid via HIP-3 upgrade. Traders do not invest in SpaceX shares, but instead bet on the value of SpaceX derivatives.
Accessibility is one of the big benefits. Retail traders can access the stock before and after the IPO. In addition, traders can take both long and short positions. So they have the potential to make money on a rising or falling market.
Another feature of interest is leverage. Traders can gain more exposure to the market with a smaller capital. However, leverage also increases risk. This can lead to substantial losses in the market due to sudden market movements.
Which Choice Fits Long-Term Investors and Short-Term Traders?
The SPCX contracts are not an ownership of SpaceX stock. Therefore, traders do not receive voting rights, dividends, or any direct claim on company assets. The contracts are just a record of the price of the underlying asset.
Moreover, the active SPCX positions will not automatically be converted into real SpaceX stock following the IPO. Rather, they are derivative products and are tied to the performance of the stock. This distinction matters to investors who want to own the property.
Another factor is valuation. At the time of publication, Arkham’s research team estimated the implied valuation of SPCX at $2.3 trillion. This was higher than SpaceX’s IPO valuation of approximately $1.7 trillion. So, there is a possibility of some traders paying a higher price for early access or future expectations.
Leverage also brings liquidation risk. When prices swing drastically against a position, traders can lose all their investment. Additionally, flash crashes or low liquidity can increase these risks.
Real shareholders gain direct ownership and future corporate benefits. But traders who trade on short-term price movements might be better suited to SPCX perpetual contracts. With these products, speculators can trade on the volatility of the market before and after the IPO.
With SpaceX now trading on the public market, investors are now presented with a clear choice. Traditional shares provide ownership and long-term exposure. In the meantime, SPCX perpetual contracts offer flexibility and leverage. So, it will depend on the investor’s objectives, approach, and level of risk.