According to CoinMeta, the open interest for Hyperliquid has reached $5.25 billion, surpassing that of the five major exchanges. Since its turnaround, other exchanges have not been able to regain the lead. The latest open interest data is as follows: • Bybit: July 29, 2026 | $5.07 billion • HTX: May 21, 2026 | $3.67 billion • Bitfinex: November 19, 2025 | $1.21 billion • Kraken: November 19, 2025 | $304 million • Coinbase: November 19, 2025 | $235 million. The next target is OKX, with current open interest at $6.37 billion, representing a gap of $1.13 billion.