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DEFI Markets Derivatives Daily Hip 3 Volume vs Hyperliquid Total Perpetuals Volume Market Share

DeFi

The daily trading volume generated by HIP-3 permissionless perpetual markets, expressed as a share of Hyperliquid's total perpetuals trading volume Shown here for Other.

Why it matters

To measure how much of Hyperliquid's overall perpetuals activity comes from independently deployed HIP-3 markets rather than the exchange's native listings.

How it is built

Dividing the daily USD trading volume executed on HIP-3 markets by the total daily USD volume across all Hyperliquid perpetual markets.

What to watch

A rising share shows HIP-3's permissionless market model is gaining traction and diversifying Hyperliquid's volume base beyond its core listings.

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