Hyperliquid captures 10.2% of global perpetual futures market, near 10.4% record

The venue’s share, measured by open interest across centralized exchanges including Binance, Bybit and OKX, stayed close to last week’s peak as HYPE traded at $52.14, down 5% in 24 hours.

HYPE

25d ago

Fact Check

The BlockBeats flash confirms every specific detail of the claim: 10.2% global perpetual futures open interest share on August 1, near a 10.4% record from the prior week, sourced to hypeflows, with HYPE at $52.14 down 5% in 24h, and measured across centralized exchanges. Gate.com's market-data page independently corroborates the identical figures and the same hypeflows data source. The figures are a real-time market snapshot from a third-party analytics provider (hypeflows), which introduces minor methodological uncertainty, but the claim faithfully reproduces the reported data.

Summary

Hyperliquid’s open interest climbed to $5.25 billion, overtaking derivatives positions on Bybit, HTX, Bitfinex, Kraken and Coinbase and placing the decentralized perpetual exchange behind only OKX at $6.37 billion and Binance at $24.91 billion, according to Onchain Lens. The increase underscores how a venue built on its own layer-1 blockchain is gaining traction with traders who want on-chain execution, self-custody and a fully on-chain order book. Open interest, which tracks outstanding derivative contracts such as perpetual futures, is closely watched as a measure of market participation and leverage. Hyperliquid’s rise suggests decentralized platforms are taking a larger role in derivatives trading even as Binance remains the dominant venue.

Terms & Concepts

open interest: The total value of outstanding derivatives positions, often used as a gauge of trading activity and liquidity.
perpetual futures: Crypto derivatives contracts that do not expire and are widely used for leveraged exposure.
Hyperliquid: A crypto derivatives trading platform linked to the HYPE token.