Perpetual DEX open interest grows 76% to about $24 billion in Q3, with Hyperliquid holding about 53% share

October 28: According to unfolded, perpetual contract DEX open interest (OI) grew about 76% quarter-over-quarter to approximately $24 billion in Q3 2026, while trading volume fell about 16% to about $1.4 trillion over the same period. Hyperliquid's open interest more than doubled to about $13 billion, giving it a market share of about 53%. HIP-3 deployer trade[xyz] had open interest of about $3.9 billion, while Variational, Lighter and Aster saw their open interest grow about 78%, 107% and 66% respectively. The data shows the growth mainly came from the launch of new markets.