Hyperliquid Sets Record for Perpetual Futures Market Share

Global decentralized exchange Hyperliquid has reached a record share of the global perpetual futures market. As of October 4, its perpetual futures market share rose to 11.8% based on open interest. This represents a significant increase from mid-September when it hit a then-record 10.5%. By the end of September, Hyperliquid's perpetual futures share had risen to 11.4%, up from 10.5% just a few weeks earlier.

Open interest is used as a gauge of the size of active leveraged positions and capital on a given exchange. This metric covers the entire perpetual futures market, including major centralized exchanges such as Binance, Bybit, and OKX. Hyperliquid's growing share suggests it has become an increasingly significant player in this space.