Dune launches real-time feeds for 200 onchain trading venues

Dune has launched real-time market data feeds that cover more than 200 onchain trading venues. The new service aims to integrate onchain trading data into institutional financial systems as tokenized stock markets expand. The feeds provide data roughly one second after execution, covering spot trading on decentralized exchanges and perpetual futures trading on Hyperliquid and Lighter.

The platform provides trade data from 12 blockchains, including Ethereum, Solana, Base, and XLayer. Dune offers standardized data on prices, trade sizes, and transaction details. Firms use this data to assess liquidity, compare prices across venues, and evaluate trading strategies before committing capital. Fredrik Haga, Dune co-founder and CEO, stated that quant funds, market makers, asset managers, and bank trading desks are among the first clients. He declined to identify these clients due to nondisclosure agreements.

Haga noted that most institutions are watching onchain markets because they cannot price assets properly without them. He expects direct onchain trading to follow as liquidity improves and regulatory rules catch up. However, he noted that the complexity of trading the same stock on dozens of venues across different chains holds institutions back. The market for tokenized stocks has grown sharply over the past year, with distributed value reaching $3.58 billion, up from about $627 million a year earlier.

Tensions have surfaced around OKXICE, a joint venture between OKX and Intercontinental Exchange. OKXICE announced plans for a tokenized stock trading platform on Oct. 4. Sixteen companies, including Microsoft, Alphabet, and Goldman Sachs, have filed objections to having their shares traded on the proposed platform. Ryan Yoon, Tiger Research director, warned in May that trading the same tokenized stocks across multiple blockchain platforms could create price discrepancies.