Q3 perpetuals DEX open interest increased to approximately 24000000000 USD，Hyperliquid with a market share of approximately 53%
BIBIBI
AT A GLANCE
Q3 perpetuals DEX saw a significant increase in open interest, but trading volume decreased during the same period.
Article
Q3 perpetuals DEX Open interest growth 76%to approximately 24000000000 USD，Hyperliquid approximately 53%
PANews October 28 According to a report, unfolded stated that 2026 year Q3 perpetual contracts DEX open interest (OI) increased approximately quarter over quarter by 76%, to approximately 24000000000 USD; trading volume during the same period decreased approximately 16%, to approximately 1400000000000 USD。Hyperliquid’s open interest increased by more than, to approximately 13000000000 USD, with a market share of approximately 53%。HIP-3’s deployment partner trade[xyz] had approximately 3900000000 USD in open interest, while Variational, Lighter, and Aster’s open interest increased by approximately 78%、107%、66%. The data shows that the growth mainly came from the launch of new markets.
2026 year Q3, perpetual contracts’DEX open interest increased approximately quarter over quarter by 76%, to approximately 24000000000 USD。
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Trading volume during the same period decreased approximately 16%, to approximately 1400000000000 USD。
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Hyperliquid open interest increased by more than, to approximately 13000000000 USD, with a market share of approximately 53%。
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trade[xyz]’s open interest was approximately 3900000000 USD。
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Variational, Lighter, and Aster’s open interest increased by approximately 78%、107%、66%。
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The data shows that the growth mainly came from the launch of new markets.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Open interest (OI) can be understood as the volume of contracts that have not yet been closed; its growth indicates that the scale of positions in the market is expanding. A decline in trading volume indicates that trading activity and the growth in open interest are not moving in tandem.
Why it matters to readers
This shows that the open interest of perpetuals DEX is expanding,Hyperliquid accounting for approximately 53%of the share, but the decline in trading volume indicates that market activity signals are inconsistent.
When assessing whether a platform is growing, it is not sufficient to look only at the scale of open interest; trading volume and whether newly launched markets can be sustained should also be observed.
Risks and unknowns
The original text did not provide unfolded’s original data report or the complete statistical methodology.
The original text did not state whether the growth in open interest can be sustained.
The original text did not state whether positions in newly launched markets will be retained over the long term.
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Related concepts
Open interest (OI）
This term is not in the glossary yet. Browse related concepts in the glossary.
A derivative contract with no expiration date, designed for continuous holding, whose funding rate mechanism helps keep its price close to that of the underlying asset.
