Hyperliquid's open interest hits $18 billion, reaching an all-time high.
35 minutes ago
Official data from Hyperliquid shows its open interest has reached $18 billion, hitting a new all-time high. This figure refers to bilateral open interest, calculated as the sum of long and short positions. Over the past year, Hyperliquid has expanded from a crypto perpetual trading platform into an on-chain trading infrastructure supporting stocks, commodities, indices, pre-IPO, and event contracts. Launched in October 2025, HIP-3 allows third parties to stake HYPE and deploy their own perpetual markets, with underlying assets covering U.S. stocks, gold, crude oil, the S&P 500, and private companies like SpaceX. As of early September 2026, cumulative trading volume on HIP-3 markets exceeded $548 billion, accounting for roughly 30% of the platform’s total trading volume in the past 30 days. HIP-4, launched in May 2026, filled the gap in prediction markets and event contracts, and was further opened to third-party deployments at the end of August. During the same period, firms including 21Shares, Bitwise, and Grayscale sequentially launched HYPE spot or staking-based ETFs, while the platform rolled out native lending and advanced licensed HIP-3 markets for U.S. users.
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