Dune has launched real-time market-data feeds designed to carry onchain spot and perpetual trades into the systems used by hedge funds, asset managers, market makers and brokers. The company says its spot feed covers more than 200 decentralized venues across 12 networks, including Ethereum, Solana, Base, BNB Chain and XLayer. A separate feed tracks perpetual trades on Hyperliquid and Lighter. The launch moves Dune beyond its familiar analytics dashboards into infrastructure intended for live trading and risk workflows.

One model for fragmented markets

Blockchain venues record trades through different contracts, event formats and asset identifiers. Dune says it translates those records into a common schema containing price, size, side, notional value, venue and a stable instrument identifier. Each message also links to the transaction that settled the trade, allowing a client to check the record against the underlying ledger. Spot data is delivered by WebSocket, while reference data is available through a REST interface. Dune's product page reports a trade-count-weighted p95 latency of 1.34 seconds for spot data and 590 milliseconds for perpetuals.

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Tokenized assets widen the use case

The feeds cover native cryptoassets as well as tokenized equities, exchange-traded funds, Treasuries, commodities and private credit where those instruments trade onchain. Dune said XLayer support includes the planned OKXICE tokenized-stock venue from launch. Independent reporting by The Block confirmed the 200-plus venue and 12-chain scope, as well as coverage of Hyperliquid and Lighter for perpetuals. The product is available now through a sales-led demo process; Dune has not published standard pricing or service-level terms on the public page.

Why institutions may care

A normalized feed can reduce the engineering work required to watch liquidity scattered across many chains and protocols. Market makers could compare decentralized prints with centralized quotes, while asset managers may use the data to mark positions or monitor tokenized instruments outside conventional exchange hours. Stablecoin issuers and risk teams could also follow rapid price dislocations across venues. Dune says up to eight years of historical data is available separately for backtesting, but that archive is not part of the live feed itself.

Limits remain visible

Real-time access does not make fragmented markets uniform. Liquidity, transaction ordering, chain reorganizations and token representations can still differ across venues. Dune says it publishes when a block lands and resends corrected records if a reorganization changes them, which favors speed over waiting for deeper settlement finality. A transaction link helps with auditability, but it does not independently prove that a displayed market was liquid, accessible to a particular investor or suitable for valuing a position.

What to watch next

The important tests will be adoption, coverage quality and how the feed handles new contracts or disrupted chains. Dune has not disclosed customer commitments, revenue expectations or a timetable for adding more perpetual venues. Users will also need to compare the service's coverage and correction process with direct node connections, exchange feeds and other consolidated-data products. The launch nevertheless shows a shift in onchain data from retrospective research toward continuously delivered market infrastructure. For institutional users, the value will depend on whether the normalized records remain timely, correctly classified and resilient as venues and tokenized products change.

Sources

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