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Hyperliquid Open Interest

Close-of-day open interest on Hyperliquid, the leading decentralized perpetual futures exchange.

PropertyValue
CategoryMarket Data
UnitUSD
Resolution1d
AssetsBTC
TierPro
API EndpointGET /v1/oi/exchange
Fieldclose_oi_usd

Overview​

Hyperliquid Open Interest tracks outstanding BTC perpetual positions on Hyperliquid, the largest decentralized perpetual futures exchange. All OI data is fully verifiable on-chain, providing a trustless measure of leverage in DeFi derivatives.

How Hyperliquid Reports Open Interest​

Hyperliquid's OI is natively on-chain — every position open/close is recorded on its L1 blockchain. The exchange uses Pyth Network oracle prices for mark price calculations. OI is reported in real-time with no reporting delay.

Key difference from CEXs: Hyperliquid OI is fully transparent and verifiable. No trust assumption required — you can independently verify the total open interest on-chain.

Interpretation​

  • Hyperliquid OI growth has been exponential, often ranking 4th–5th globally by BTC perp OI
  • DeFi-native users may have different risk profiles and positioning strategies than CEX users
  • On-chain OI cannot be faked — unlike CEX self-reported figures, Hyperliquid's OI is trustless
  • Rapid Hyperliquid OI growth relative to CEXs signals the structural shift toward decentralized derivatives

Use Cases​

  • DeFi-native leverage tracking: Hyperliquid OI reflects on-chain trader positioning exclusively
  • Comparing DEX vs CEX OI to gauge the decentralization trend in derivatives markets
  • On-chain verification: independently confirm OI figures for research integrity
  • Monitoring the competitive threat of decentralized exchanges to traditional CEXs

API Usage​

curl -H "Authorization: Bearer YOUR_API_KEY" \
  "https://api.blocklens.co/v1/oi/exchange?exchange=hyperliquid&start_date=2024-01-01&end_date=2024-12-31&limit=365"