Something doesn’t add up.


Solana just did ~$1.3B in perp volume in 24h.
Hyperliquid did ~$8.4B.
That’s basically Solana being ~1/6 of Hyperliquid.
When it comes to perps, traders are clearly going somewhere else.
Why is that?
Fees and execution.
Jupiter is amazing for UX, but if you’re actually trading size or frequently, those fees start to hurt.
Hyperliquid is cheaper, faster? Well, actually built for perps.
That’s why you’re starting to see wallets and apps like Phantom and DeFi App route users there instead.
SOL-1.12%
HYPE2.9%
JUP2.55%
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