Hyperliquid open interest hits about $11.5 billion as HIP-3 activity grows

Delphi Digital said about $4 billion of open interest came from HIP-3 traditional-asset products, while HyperliquidNews reported heavy chip-stock trading including $1.923 billion in SKHYNIX volume and more than $150 million for Paragon.

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Summary

Hyperliquid's open interest rose to about $11.5 billion, its highest level in 2026 according to Delphi Digital figures cited by Odaily, with roughly $4 billion coming from HIP-3 products linked to traditional financial assets. The S&P 500 was the largest market within that segment, while SK Hynix and Micron were the most active AI-related stock trades. Separately, HyperliquidNews said on X that SKHYNIX trading volume reached $1.923 billion, surpassing bitcoin:native, SNDK topped $1 billion, and Paragon's trading volume on Hyperliquid DEX HIP-3 exceeded $150 million. HyperliquidNews attributed the surge in chip-related activity to a broad selloff in RAM and memory companies that increased volatility.

Terms & Concepts
  • open interest: Total value of outstanding derivatives positions.
  • HIP-3: Hyperliquid product framework for listed markets, including products linked to traditional financial assets.
  • onchain derivatives: Derivative contracts traded on blockchain-based platforms.