# Hyperliquid’s 169 Live HIP-3 Markets Hold $4.12 Billion in Open Interest By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/42970 Published: 2026-10-28T21:27:15.000Z Updated: 2026-10-28T21:27:15.000Z Section: Investing > The XYZ deployment held 97% of open interest. The markets recorded $3.94 billion in 24-hour volume across four venues. Perpetual markets tied to stocks, indexes, metals and oil on Hyperliquid held $4.12 billion in open interest on Oct. 28, with the XYZ deployment accounting for 97% of the total. That concentration means the combined open-interest figure mostly reflects positions in XYZ markets. At 4:37 p.m. ET (20:37 UTC), 169 HIP-3 markets were live across four venues and had $3.94 billion in volume over the previous 24 hours. The snapshot covered 10 builder venues overall, though only four had live markets. The snapshot adds a market-count view to earlier coverage of [HIP-3 trading volume](). The largest contracts by open interest were the S&P 500 at $420.9 million, gold at $321.5 million and West Texas Intermediate (WTI) crude oil at $264.8 million. Their maximum leverage settings were 50x, 25x and 20x, respectively. The three settings ranged from 20x to 50x. A separate count gave 315 markets, but its time zone and counting method were not specified. The Oct. 28 figures show 169 live markets and 147 delisted ones, for 316 total entries. The one-entry difference between the 315 figure and 316 total entries is unexplained. Under HIP-3, outside builders can launch perpetual contracts on Hyperliquid. Builders choose contract rules, oracle feeds and leverage limits, and can settle a market. Hyperliquid provides the order books and margining. Each deployment operates with its own order book and settings, so the combined figures do not describe activity in every individual contract. Open interest measures positions that remain open at a particular time. By contrast, 24-hour volume totals trading over the preceding day. The two figures describe different aspects of market activity, and neither alone establishes the execution depth available in any one contract. Trade.xyz bars people and entities subject to U.S. law from using its interface. The interface is separate from the Hyperliquid protocol. ## Links in this article - [HIP-3 trading volume](https://www.tokenpost.com/news/investing/23563)