Nvidia perpetual contract on Hyperliquid hits record $2.14bn daily volume
The Tradexyz Hip-3 market reached the milestone on its one-year anniversary as trading activity surpassed Ethereum volume on the platform.
Key takeaways
- 1Daily volume for the NVDA perpetual contract hit a record $2.14bn on 12 November 2026.
- 2The product has processed more than $19bn in total volume since its launch in 2025.
- 3The contract offers up to 10x leverage and ranked second in platform volume behind Bitcoin.
Tradexyz reported that its Nvidia perpetual contract on Hyperliquid reached a record $2.14bn in daily trading volume on 12 November 2026. This peak occurred on the one-year anniversary of the product's launch and followed the resignation of Nvidia chief executive Jensen Huang. The contract ranked as the second most traded asset on the Hyperliquid platform, trailing only Bitcoin and exceeding the volume of Ethereum.
The perpetual contract launched on 12 November 2025 and offers traders up to 10x leverage on the price of Nvidia stock. Total volume for the year to date has now exceeded $19bn. This growth in activity coincided with a period of high volatility for the underlying asset, including a 10.6 percent price drop in the contract earlier in the week following reports regarding the personal conduct and leadership of the Nvidia chief executive.
Hyperliquid is a decentralised exchange that allows users to trade perpetual futures on both cryptocurrencies and traditional equities through synthetic assets. Tradexyz manages the Hip-3 market, which provides the infrastructure for this specific Nvidia tracking product. The platform recently recorded record high priority fees, reaching an annualised run rate of $108.5m as network demand increased during the recent market volatility.
The record volume suggests a growing appetite for traditional equity exposure within decentralised finance protocols. Traders are using these synthetic instruments to hedge or speculate on corporate news without leaving the blockchain environment. Market participants will watch if this volume remains sustainable or if it was a temporary spike driven by the specific leadership changes and news cycle surrounding Nvidia.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.