Hyperliquid Open Interest Hits $5.25B, Surpassing Five Major Exchanges

Hyperliquid open interest reaches $5.25B, overtaking Bybit, HTX, Bitfinex, Kraken, and Coinbase. The platform now trails only OKX by $1.13B in total derivatives volume.

Woofun AI reports that Hyperliquid’s open interest has climbed to $5.25 billion, exceeding the scale of five major exchanges. The platform overtook Bybit on July 29, 2026, when Bybit’s open interest was $5.07 billion. It surpassed HTX on May 21, 2026, at $3.67 billion, and overtook Bitfinex, Kraken, and Coinbase on November 19, 2025, with their respective figures at $1.21 billion, $304 million, and $235 million.

The next benchmark is OKX, which holds $6.37 billion in open interest. A gap of $1.13 billion remains between Hyperliquid and OKX.