Hyperliquid processed nearly $240 billion in perpetual futures contracts over thirty days, five times the volume of its closest competitor Arbitrum ($47.2 billion). The five following platforms combined (Arbitrum, Solana, Lighter, Ethereum and edgeX) totaled $226 billion, still less than Hyperliquid alone. The platform charges 0.045% for takers and 0.015% for makers, with nearly all fees flowing into the Assistance Fund that buys back HYPE on the open market. HIP-3 also opened the door to third-party market deployment against HYPE deposits, amplifying this token support mechanism.
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