- Hyperliquid open interest hits all-time high of $18B as of September 23, 2026
- $18B figure is two-sided OI — calculated as the sum of all long and short positions combined
- Milestone reflects record active leveraged exposure across Hyperliquid's perpetuals markets
BREAKING
Hyperliquid announced on September 23, 2026, that open interest on its platform reached an all-time high of $18 billion — a record milestone for the decentralized perpetuals exchange. The announcement was made via the official Hyperliquid Announcements channel.
The $18B figure represents two-sided open interest, calculated as the combined sum of all long and short positions currently open on the platform. This methodology counts both sides of every trade, meaning the raw single-sided OI figure would be approximately half that amount. Hyperliquid clarified this calculation method directly in the announcement to ensure transparency in how the metric is reported.
For traders, this milestone reflects the scale of active leveraged exposure currently being held on Hyperliquid. A higher open interest reading indicates greater participation and deeper liquidity across the platform’s perpetual futures markets, which can translate to tighter spreads and more efficient price discovery for active traders on both the long and short sides.
Hyperliquid has positioned itself as one of the leading on-chain perpetuals venues, competing directly with centralized derivatives exchanges on volume and liquidity metrics. This OI record places it firmly among the highest-volume decentralized derivatives platforms in the market, a trajectory that mirrors the kind of structural growth seen across other protocol milestones — including restructuring events like the one undertaken by Ice Open Network as it targets a $1B market cap.
No additional caveats or conditions were attached to the announcement. Traders can monitor Hyperliquid’s live OI figures directly on the platform. The two-sided calculation methodology will remain the standard reporting measure going forward, as confirmed in the announcement note.
Source: t.meFrequently Asked Questions
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Source: Hyperliquid · Published by CoinsProbe Markets Desk
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