# Hyperliquid Open Interest Hit a Q3 Record of $18.1 Billion

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/56505
Published: 2026-11-13T09:29:34.000Z
Updated: 2026-11-13T09:29:34.000Z
Section: Investing

> Its share of open interest across the platform and eight centralized exchanges reached 11.7% at quarter-end. Q3 matched volume rose from Q2 but remained below its year-earlier level.

Hyperliquid’s perpetual futures open interest reached a record $18.1 billion on Sept. 22, while its share of combined open interest across the platform and eight centralized exchanges rose to 11.7% by the end of Q3.

Open interest stood at $16.7 billion on Sept. 30, about 80% above the $9.31 billion recorded on June 30. Average open interest for the quarter was $12.7 billion, up 46.4% from Q2.

Hyperliquid’s share of the combined open interest across those venues increased from 9.6% at the end of June to 11.7% at the end of September. The comparison covers Hyperliquid and eight centralized exchanges.

Open interest counts contracts that remain open and includes both sides of those contracts. The measure shows the amount of outstanding positions, but does not by itself indicate whether traders expect prices to rise or fall.

Matched trading volume totaled $730.6 billion in Q3, up 9.3% from the previous quarter and down 30.5% from a year earlier. The platform averaged 65,161 daily traders, a 20% increase from Q2.

HIP-3 markets, which support perpetual futures tied to other asset classes, recorded $262 billion in Q3 volume. That was up 23% from Q2 and equal to 35.9% of Hyperliquid’s matched volume. HIP-3’s share of the platform’s perpetual activity declined from 51.1% in July to 24.5% in September as native-market volume rebounded 72% from its July low.