Hyperliquid HIP-3 U.S. Stock Open Interest Drops 4.7% in Nearly 10 Days

Open interest in U.S. stock-linked contracts on Hyperliquid fell 4.7% over nearly 10 days, while price-adjusted exposure held roughly steady as positions moved among sectors and individual stocks.

The contracts’ notional open interest declined from $2.711 billion to $2.584 billion, a decrease of $127 million. The figures cover 10 HIP-3 deployers and 365 addresses whose positions had previously exceeded $1 million.

After accounting for price declines, aggregate exposure was roughly unchanged. Positions shifted among sectors and individual stocks: some addresses reduced existing positions, while others added to them as prices fell.

The changes coincided with renewed scrutiny of returns on artificial intelligence investments and the cost of financing them. Deutsche Bank and RBC Capital Markets had lowered their technology-sector allocation recommendations by Oct. 16. On Thursday, Oct. 22, Meta raised the lower end of its full-year capital spending guidance. Its five-year credit default swap spread later reached a record 114.79 basis points.

The aggregate figures show changes in exposure and shifts among sectors and individual stocks, but do not establish why addresses adjusted their positions or whether there was a broad withdrawal from U.S. stock exposure. Earlier TokenPost coverage tracked a broader set of Hyperliquid HIP-3 markets.