Hyperliquid closed the third quarter with record open interest of $16.8 billion, surpassing Bybit, Kraken, and OKX in derivatives trading by this measure.
According to a report by the Hyperliquid Research Collective, cited by The Block, the total value of outstanding derivatives positions rose about 80% compared with the end of June. Among the group comprising Hyperliquid and eight major exchanges, the platform’s share of open interest increased from 9.6% to 11.7% over three months.
Trading volume in equity-linked contracts rose 161%
Monthly trading volume in Hyperliquid’s own perpetual contracts was $109.5 billion in July and surpassed $188 billion in September. The report also said trading volume in perpetual contracts linked to share prices rose 161% to $153.8 billion. Equity-linked contracts surpassed commodities in trading volume under HIP-3, which allows third parties to open markets.
Not investment advice.