As oil and stock futures boom, open interest on Hyperliquid's permissionless markets has hit a

Hyperliquid's HIP-3 Markets Hit $1.2B Open Interest—Oil, Gold, and Equity Futures Dominate

Hyperliquid is no longer just a crypto playground. The permissionless DEX just saw its HIP-3 perpetual futures markets hit a record $1.2 billion in open interest—and the bulk of it has nothing to do with crypto.

Since launching in October, these markets have quietly ballooned. Now, only 7 of the top 30 contracts are crypto pairs. The rest? Tokenized futures on oil, gold, silver, and stocks. Arca called it a "validation" moment: finally, a venue trading real-world assets at scale.

Leading the pack: XYZ100-USDC (tokenized equities) at $213M open interest, and CL-USDC (crude oil) at $169.8M. Brent, S&P 500, silver, and gold futures round out the top.

CL-USDC also dominates volume—$1.62 billion in 24 hours. That's no surprise after the weekend oil spike. Murban crude hit $103 as Middle East tension choked Hormuz shipping. Brent and WTI briefly topped $110 before cooling off.

Weekend price discovery? Hyperliquid is becoming the answer.