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Hyperliquid open interest

Open interest for every Hyperliquid perpetual, converted to US dollars at the mark price, with each market's share of the total and its ratio to 24-hour volume.

Total open interest
$11.48B
Across 179 perpetuals
Top 10 share
86.2%
Of total open interest
BTC + ETH share
53.4%
Of total open interest
Markets above $10M
45
Open interest of at least $10M
MarketOpen interest
BTC
BTC40x

Bitcoin

$3.53B30.7%
ETH
ETH25x

Ethereum

$2.61B22.7%
HYPE
HYPE10x

Hyperliquid

$1.64B14.3%
ZEC
ZEC10x

Zcash

$695.76M6.1%
SOL
SOL20x

Solana

$574.56M5.0%
NEAR
NEAR10x

Near Protocol

$278.38M2.4%
XRP
XRP20x

Ripple

$228.38M2.0%
PUMP
PUMP10x
$124.87M1.1%
XMR
XMR5x

Monero

$121.28M1.1%
LIT
LIT5x

Litentry

$108.11M0.9%
ENA
ENA10x

Ethena

$100.16M0.9%
DOGE
DOGE10x

Dogecoin

$81.33M0.7%
UNI
UNI10x

Uniswap

$80.81M0.7%
VVV
VVV3x
$73.61M0.6%
ZRO
ZRO5x
$66.59M0.6%
WLD
WLD10x
$60.98M0.5%
XPL
XPL10x
$57.34M0.5%
$57.02M0.5%
AAVE
AAVE10x
$53.55M0.5%
$52.64M0.5%
BNB
BNB10x
$46.54M0.4%
TAO
TAO5x
$40.90M0.4%
STRK

Starknet

$34.67M0.3%
$34.39M0.3%
SUI
SUI10x
$32.79M0.3%

Hyperliquid reports open interest in units of each asset; Perpex multiplies it by the mark price. OI / volume divides open interest by 24-hour notional volume.

How to read open interest

What open interest measures

Open interest is the total size of positions that are still open. Every open long is matched by an open short, so it counts one side. Rising open interest means more capital is committed to the market; it does not say whether longs or shorts are winning.

Open interest against volume

Dividing open interest by 24-hour volume shows how positions compare with turnover. A high ratio means positions tend to be held longer relative to trading activity; a low ratio means most volume is opened and closed within the day. It describes the market's structure and is not a trading signal.

Indicative public market data, not an executable quote. Values may change before an order is placed.

Frequently asked questions

What is open interest on Hyperliquid?

It is the total size of all open positions in a perpetual market. Hyperliquid publishes it per market in units of the asset through its public API.

Why is open interest shown in US dollars?

Coin units cannot be compared across markets with very different prices. Multiplying by the mark price puts every market on the same scale, so shares and rankings are meaningful.

Does high open interest mean a market is safer?

No. Large open interest usually comes with deeper liquidity, but it can also mean crowded positioning. Check funding, leverage limits and your liquidation price before trading.

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