Hyperliquid crypto contracts climb while Trade.xyz contracts mostly fall, TradingBeats data shows

News Editor

2026-09-14 10:15:14

TradingBeats data on Sept. 14 showed a sharp split between Hyperliquid’s core crypto contracts and Trade.xyz contracts after filtering for markets with more than $1 million in both open interest and 24-hour volume. Among 58 active core crypto contracts, 46 were up and 12 were down, putting gainers at 79.3%. Trade.xyz also had 58 active contracts, but only 12 advanced while 46 declined, leaving losers at the same 79.3% share. The move was visible across major instruments. In core crypto, BTC, ETH and HYPE rose about 1.92%, 1.85% and 2.65%, while ZEC posted a 5.69% gain. On the Trade.xyz side, most stock and index contracts were under pressure, including SK Hynix (SKHX), down 3.78%, Sandisk (SNDK), down 1.99%, and the Nasdaq-linked XYZ100 contract, down 0.87%. Commodities were the exception, with WTI crude and Brent crude rising 2.77% and 2.43%. As of the latest reading, Trade.xyz had about $4.071 billion in notional open interest and roughly $1.883 billion in 24-hour volume, equal to about 31.1% of Hyperliquid’s total perpetual futures volume. TradingBeats said the day’s price leadership did not match the direction of position changes over the previous week.

TradingBeats data released on Sept. 14 showed an almost mirrored market structure between Hyperliquid’s core crypto board and Trade.xyz after filtering for contracts with more than $1 million in both open interest (OI) and 24-hour trading volume.

The core crypto board had 58 active contracts. Of those, 46 were higher and 12 were lower, meaning 79.3% posted gains. Trade.xyz also had 58 active contracts, but only 12 moved up while 46 fell, leaving decliners at the same 79.3% share.

Daily performance split across the two groups

Core crypto assets broadly moved higher. BTC rose about 1.92%, ETH gained 1.85%, HYPE added 2.65%, and ZEC led the group with a 5.69% increase.

On the Trade.xyz side, most stock and index contracts came under pressure. SK Hynix (SKHX) fell 3.78%, Sandisk (SNDK) dropped 1.99%, and the Nasdaq contract XYZ100 slipped 0.87%.

Commodities were one of the few segments that moved the other way. WTI crude rose 2.77% and Brent crude gained 2.43%.

Trade.xyz open interest and turnover

At the latest reading, Trade.xyz had about $4.071 billion in notional open interest and around $1.883 billion in 24-hour trading volume. That accounted for about 31.1% of total perpetual futures volume across Hyperliquid.

Weekly volume share and OI moved in opposite directions

TradingBeats said the day’s relative price strength did not line up with position changes seen over the past week.

For the UTC natural week from Sept. 7 to Sept. 13, total perpetual futures volume across Hyperliquid reached about $50.376 billion. Core crypto contributed about $36.056 billion, or 71.57% of the total, while Trade.xyz recorded about $14.038 billion, or roughly 27.87%.

Open interest moved the other way during the same period. Core crypto notional OI fell from about $11.076 billion to $9.794 billion, a weekly decline of 11.57%. Trade.xyz OI rose from $3.698 billion to $3.998 billion, an increase of about $301 million, or 8.13%.

As a result, Trade.xyz’s share of platform-wide OI climbed from 24.93% to 28.84%, up about 3.91 percentage points over the week. The core crypto board’s share fell from 74.67% to 70.64%.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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