HyperDash Chief Revenue Officer Hanson Birringer said his team reviewed Jump Trading’s activity on Hyperliquid since its first deposit on Dec. 12, 2025. According to the post, the firm has operated one main account and 16 sub-accounts on the exchange, generating nearly $150 billion in trading volume. That total represented 7.8% of Hyperliquid’s perpetual futures volume and 18.9% of xyz market volume. In July alone, Jump Trading’s activity accounted for 17.9% of exchange-wide volume and 28.7% of xyz volume.
Birringer said Jump Trading spent its first week testing the platform, trading $153 million across BTC, SOL and HYPE before adding more capital and opening sub-accounts. Those accounts were used for books tied to crude oil, Brent crude, natural gas, IPOs, the S&P 500, XYZ100, SK Hynix, silver, gold and memory chips.
The post said the firm’s strategy has been mostly taker-driven, with market-making volume making up 11% to 35% of its activity. Its current positioning includes $32 million long Brent crude and $16 million long CL, hedged with shorts in gold, silver, MU, NVDA, DRAM, SK Hynix, XYZ100 and large-cap equities. Birringer added that Jump Trading has paid $7 million in fees, has profit and loss in the hundreds of thousands of dollars, and that about $65 million in USDC margin routed through AQAV2 generates roughly $1.8 million in annualized revenue for Hyperliquid.
ChainCatcher reported that HyperDash Chief Revenue Officer Hanson Birringer published a post detailing Jump Trading’s activity on Hyperliquid since its first deposit on Dec. 12, 2025.
According to Birringer, Jump Trading has used one main account and 16 sub-accounts on Hyperliquid, trading nearly $150 billion in total. That activity accounted for 7.8% of the exchange’s perpetual futures volume and 18.9% of xyz market volume. In July alone, its activity made up 17.9% of all exchange volume and 28.7% of xyz volume.
Initial test phase lasted one week
Birringer said Jump Trading began with a one-week testing period, trading $153 million in BTC, SOL and HYPE. After that, the firm added capital and created sub-accounts.
Those sub-accounts were used for large books tied to crude oil, Brent crude, natural gas, IPOs, the S&P 500, XYZ100, SK Hynix, silver, gold and memory chips.
Current book is led by long oil exposure
The post said Jump Trading’s strategy has been primarily taker-driven, while market-making flow accounted for 11% to 35% of its volume.
Its current positions include $32 million long Brent crude and $16 million long CL. Those positions are hedged with shorts in gold, silver, MU, NVDA, DRAM, SK Hynix, XYZ100 and large-cap equities. The portfolio has a notional value of $145 million, while account value stands at $63.6 million.
Fees paid reached $7 million
Birringer said Jump Trading has paid $7 million in fees so far, with profit and loss in the hundreds of thousands of dollars.
He also said that about $65 million in USDC margin routed through AQAV2 generates roughly $1.8 million in annualized revenue for Hyperliquid.
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