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DEFI Markets Derivatives Hyperliquid vs Exchanges Monthly Perpetual Volumes

DeFi

A monthly comparison of perpetual futures trading volume on Hyperliquid against other major perpetuals exchanges Shown here for Hyperliquid/Exchanges Ratio.

Why it matters

To benchmark Hyperliquid's trading activity against its competitors and track its relative market position.

How it is built

Aggregating each exchange's perpetual futures trading volume into monthly totals and plotting them side by side.

What to watch

A widening gap in Hyperliquid's favor signals it is capturing market share from rivals, while a narrowing gap suggests competitors are catching up.

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