Hyperliquid's open interest surpasses OKX, who will it surpass next?

According to PolyBeats monitoring, the current market probability of "Will Hyperliquid HIP-3 open interest reach or exceed $6 billion in 2026?" is 44%.

On the 12th, X account Vikingo.hl published statistics stating that Hyperliquid's open interest has surpassed OKX's $7b, exceeding Coinbase, Kraken, HTX, and Bybit, but still below Bitget's $8.31b and Binance's $31.48b. This data covers the entire Hyperliquid platform, and HIP-3 is one of its perpetual contract markets independently deployed by third parties, covering trading instruments such as stocks and commodities.

HIP-3 open interest previously broke through $4.44b in August, setting a record high. It is currently around $4b, with HIP-3 open interest decreasing by approximately $119m over the past month, and its share of total platform open interest declining by about 25%. Recent new positions have mainly come from core cryptocurrency contracts.

On the 4th, Trump stated that the U.S. Commodity Futures Trading Commission is pushing for Hyperliquid's compliant entry into the United States. Kraken's parent company plans to offer certain perpetual contracts linked to Hyperliquid markets to U.S. registered users through the regulated platform Bitnomial.

On the 10th, the HIP-3 deployer launched Events event contracts based on HIP-4, with the first batch of products involving stocks, commodities, private company prices, and sports events. Some financial event contracts are settled using prices from existing HIP-3 perpetual markets.