Interesting to see Hyperliquid's Open Interest > 24 Hour Volume.


We don't see that often in perps platforms as:
• traders are constantly hedging, quoting, or adjusting their positions
• perps trades are usually for shorter-term trading
Key factor for causing OI > 24 Hr volume on Hyperliquid is HYPE-USDC pair, where 24 hour volume is $160M while OI is $650M (4X). My guess is that a lot of long-term trades are being placed to hedge the HYPE Staked (especially for HIP 3 Markets)
HYPE0,08%
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