Hyperliquid’s Q3 Derivatives Open Interest Exceeds Three Major Exchanges
Hyperliquid’s derivatives open interest reportedly climbed to $16.8 billion in Q3 2026, overtaking Bybit, Kraken and OKX.
Hyperliquid’s derivatives open interest reportedly climbed to $16.8 billion in Q3 2026, overtaking Bybit, Kraken and OKX. Hyperliquid (HYPE) is trading at $67.07, up 2.6% since this brief published. This is an original TLT brief based on reporting by TronWeekly, with live market data added, as of Sun, 15 Nov 2026 19:30:04 UTC.
The reported open-interest milestone shows Hyperliquid increasing its role in crypto derivatives, while its $1.67 billion TVL and broader risk-off market conditions provide context for how that growth is being sustained.
- Hyperliquid reached a reported $16.8 billion derivatives open interest in Q3 2026.
- Its open interest surpassed Bybit, Kraken and OKX.
- DeFiLlama shows $1.67 billion in TVL, down 7.2% over seven days.
- HYPE traded at $65.38, down 5.99% over 24 hours and 14.82% over seven days.
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- Hyperliquid’s Q3 Derivatives Open Interest Exceeds Three Major Exchanges — this brief
Hyperliquid’s derivatives open interest rose sharply during Q3 2026 and reached a reported $16.8 billion, according to TronWeekly. The platform’s derivatives-market share continued to expand as that open-interest figure moved beyond the levels reported for Bybit, Kraken and OKX.
TronWeekly is the sole outlet covering the development, and its summary does not provide the respective open-interest figures for Bybit, Kraken or OKX. It also does not detail how Hyperliquid’s $16.8 billion figure was calculated, limiting direct comparison beyond the reported ranking.
Separate on-chain data from DeFiLlama puts Hyperliquid’s total value locked at $1.67 billion, a 7.2% decline over seven days. TVL and derivatives open interest measure different aspects of platform activity, so the two figures do not establish the same trend.
The wider market backdrop is weak. Total crypto market capitalization stands at $2.25 billion, 
Bitcoin is down 4.27% over 24 hours, and the Fear & Greed index is at 10, marking extreme fear. HYPE itself is priced at $65.38, with losses of 5.99% over 24 hours and 14.82% over seven days; its market capitalization is $15.54 billion.
Hyperliquid’s reported derivatives milestone may increase attention on the platform’s competitive position and market share. The next relevant comparisons are whether open interest remains above the three named centralized exchanges, how the $16.8 billion figure changes, and whether the recent decline in TVL continues alongside that derivatives activity.
Since this brief published about 29 hours ago, Hyperliquid (HYPE) has moved from $65.38 to $67.07 — +2.58%.
The chart plots HYPE's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 HYPE ≈ ₦94,870.51 (about $67.07), up 2.6% over 24 hours. The naira itself trades about 4.6% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · November 15, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Hyperliquid’s Q3 Derivatives Open Interest Exceeds Three Maj — questions & answers
What open-interest figure did Hyperliquid reach?
TronWeekly reported that Hyperliquid reached $16.8 billion in derivatives open interest during Q3 2026.
Which exchanges did Hyperliquid reportedly overtake?
The reported milestone placed Hyperliquid above Bybit, Kraken and OKX in open interest.
What is Hyperliquid’s current TVL and HYPE price?
DeFiLlama reports $1.67 billion in TVL, down 7.2% over seven days. HYPE trades at $65.38, down 5.99% over 24 hours.
How much is 1 Hyperliquid worth in naira today?
About ₦94,870.51 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $67.07. The naira price moves with both HYPE's US-dollar price and the USDT/NGN rate; use our Hyperliquid in naira page for any amount.
Has Hyperliquid's price moved since this brief was published?
HYPE is up 2.58% since this brief first published — trading at $67.07 now versus $65.38 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from TronWeekly. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.