Arthur Hayes, co-founder of BitMEX, forecasts a significant shift in price discovery for major US tech stocks and indices towards the perpetual contract market by 2026. In his article "Survival of the Fittest: How Perpetual Contracts Are Disrupting the Traditional Financial Landscape," Hayes argues that traditional finance is struggling to maintain its dominance as perpetual contracts gain traction. He highlights that the infrastructure for stock perpetual contracts is already mature, with daily trading volumes exceeding $100 million, and predicts these volumes will soon reach billions. Hayes suggests that perpetual contracts will become essential for hedging risks over weekends, prompting US securities platforms to adopt 24/7 trading. He envisions a future where financial media prioritizes perpetual contract quotes over traditional exchanges, and anticipates the emergence of new billionaires at the intersection of perpetual contracts and stocks.