Hyperliquid’s Ether Open Interest Surpasses Bitcoin at Record Levels
Ether positions reached about $3.02 billion as Hyperliquid’s total derivatives open interest climbed to roughly $18 billion.
Ether (ETH) open interest on Hyperliquid has surpassed Bitcoin (BTC) as total derivatives positioning on the decentralized perpetuals platform reached a record roughly $18 billion.
ETH open interest stood at about $3.02 billion, compared with approximately $2.8 billion for BTC. The figures place Ether ahead of Bitcoin on the venue’s open-interest ranking, a shift that has occurred several times between the two assets in 2026.
Hyperliquid’s platform-wide open interest represents about 8.7% to 10.9% of global perpetual-contract open interest. Open interest measures the value of outstanding derivatives positions and can indicate how much capital is committed to active contracts.
The latest figures were recorded Sept. 29 at about 5:41 a.m. ET (09:41 UTC).
