The SpaceX-linked perpetual contract topped $1.1 billion in 24-hour HIP-3 volume and $302.33 million in open interest, while a whale opened a $2.72 million 3x long before the U.S. market open.
SPCX perpetual futures on Hyperliquid became one of the venue’s busiest markets, overtaking Solana by volume and nearing ETH/USD activity as 24-hour HIP-3 volume exceeded $1.1 billion and open interest reached $302.33 million. The SpaceX-linked contract briefly traded near $230, at times more than 20% above traditional markets around $192, after maximum leverage on HIP-3 was raised from 5x to 10x. Separately, Hyperinsight flagged a whale opening a fully long 16,082-contract SPCX position worth about $2.72 million with 3x leverage roughly eight hours before the U.S. stock market open, at a $167.7 entry price and $117.6 liquidation level, with a small unrealized profit at the time. Despite strong overall enthusiasm, whale positioning on HIP-3 remained skewed short, with 36 short positions open versus 24 longs.