Perp DEX open interest jumps 76% to $24B in Q3 as Hyperliquid takes 53% share
- —Perp DEX open interest climbed 76% to $24B while volume fell 16% to $1.4T
- —Hyperliquid more than doubled OI to $13B, holding about 53% market share
- —HIP-3 deployer trade[xyz] accounts for roughly $3.9B in open interest
- —Variational, Lighter and Aster grew OI by 78%, 107% and 66% respectively
Why it matters: Rising open interest against falling volumes signals that perp liquidity is concentrating in Hyperliquid and newly listed markets.
Source: PANews