Ethereum open interest on decentralized perpetuals exchange Hyperliquid has climbed to about $3.02 billion, moving ahead of Bitcoin at roughly $2.8 billion, according to Odaily. The update puts ETH in the lead over BTC on the platform by open interest, a metric closely watched in derivatives markets to gauge the size of outstanding contracts.
Hyperliquid’s total open interest stands at about $18 billion, a record for the platform. That figure accounts for roughly 8.7% to 10.9% of global perpetual futures open interest, showing the exchange’s growing share in the broader market.
Odaily also noted that since the start of 2026, ETH and BTC have traded places several times on this measure. The latest shift adds another turn in that back-and-forth, with ETH now holding the top spot on Hyperliquid by open interest.
Ethereum open interest on decentralized perpetuals exchange Hyperliquid has risen to about $3.02 billion, surpassing Bitcoin at roughly $2.8 billion, according to Odaily.
Hyperliquid’s total open interest is about $18 billion, a record for the platform. That represents roughly 8.7% to 10.9% of global perpetual futures open interest.
Since the start of 2026, ETH and BTC have swapped the lead several times on this metric.
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