DEFI Markets Derivatives Hyperliquid vs Binance Monthly Perpetual Volumes
DeFi
A monthly comparison of perpetual futures trading volume between Hyperliquid, an on-chain exchange, and Binance, the largest centralized exchange Shown here for Hyperliquid/Binance Ratio.
Why it matters
To gauge how much of the perpetuals trading market Hyperliquid has captured relative to the dominant centralized venue.
How it is built
Summing each venue's USD perpetual trading volume over each calendar month and plotting the two totals side by side.
What to watch
A narrowing gap signals on-chain perpetuals venues taking market share from centralized exchanges, an important trend for DeFi adoption.
Related metrics
- DEFI Markets Derivatives Hyperliquid vs Exchanges Monthly Perpetual Volumes
- DEFI Markets Derivatives Hyperliquid vs Exchanges Monthly Open Interest
- DEFI Markets Derivatives Hyperliquid Total Cumulative Volume
- DEFI Markets Derivatives Hyperliquid Total Cumulative Liquidations
- DEFI Markets Derivatives Hyperliquid Daily Liquidations
- DEFI Markets Derivatives Hyperliquid Open Interest
- DEFI Markets Derivatives Hyperliquid Daily Volume per Builder
- DEFI Markets Derivatives Hyperliquid Daily Revenue per Builder