Hyperliquid Open Interest Nears One-Month High as Perp DEX Volume Weakens

DefiLlama data on March 13 showed little overall change in on-chain perpetual decentralized exchange activity, with Hyperliquid remaining the largest venue by both 24-hour volume and open interest.

HYPE

Summary

DefiLlama data showed that on-chain perpetual decentralized exchange activity changed little overall on March 13. Hyperliquid led Perp DEXs with $6.74 billion in 24-hour trading volume and $6.45 billion in open interest, up slightly from the prior day’s $6.48 billion volume and $6.41 billion open interest. Aster ranked second, recording $2.36 billion in volume and $1.95 billion in open interest, indicating that Hyperliquid continued to dominate the sector despite softer broader market activity.

Terms & Concepts
  • Open interest: The total value of outstanding derivatives positions that have not been closed or settled.
  • Perp DEX: A decentralized exchange for perpetual futures, allowing traders to hold crypto derivatives positions on-chain without a fixed expiry date.
  • On-chain: Activity recorded directly on a blockchain, making transactions and market data visible through blockchain-based systems.