Hyperliquid Holds 53% of Perpetual DEX Open Interest in Q3

Enna Lee

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Hyperliquid Holds 53% of Perpetual DEX Open Interest in Q3

Its open interest more than doubled to about $13 billion. Open interest at Variational, Lighter and Aster also grew.

By Enna Lee

Published Oct 28, 2026, 12:04 PM EDT

A contract folio opens beside a widening ring and narrowing glass channel / TokenPost.ai

Hyperliquid's open interest more than doubled to about $13 billion in Q3 2026, or roughly 53% of perpetual decentralized exchange (DEX) open interest.

The HIP-3 deployer trade[xyz] had about $3.9 billion in open interest. Open interest at Variational, Lighter and Aster grew 78%, 107% and 66%, respectively.

New market launches drove most of the increase.

Enna Lee

Reporter

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.