Learn ›
Open interest
The value of the contracts still open on a perp.
Every perp contract has a long and a short. Open interest counts the contracts open on one side (Hyperliquid's figure) times the mark price: the value of the positions still held.
It grows when new positions open and shrinks when they close; a trade that only moves a position from one holder to another leaves it unchanged. Against the day's volume, it shows how much is held compared with how much is traded.
On 2026-10-04 the main exchange held $13.2bn of open interest and the builder exchanges $3.95bn, 97.7% of it on xyz.
Live
Open interest now: one block per exchange, one tile per live market.