HYPE pairs

Because it is the venue's own token, a pair with HYPE on one leg has a leg whose flows and the exchange's activity share a common driver. That is a structural dependency worth knowing about, and it does not exist for any other quote asset here. It trades continuously, so both legs of a crypto/crypto pair are open at the same times and neither carries a session gap the other does not.

• In the venue snapshot taken 30 July 2026, it was the third-largest of the 177 markets on the main Hyperliquid dex by 24-hour notional volume, at $286.4M — and the third-largest by open interest, at $1.21B.
• Of the 4 crypto markets on this site carrying a full 90-day figure against BTC, its correlation of daily returns with BTC sat closest to zero, at +0.45 over the 90 daily closes to 30 July 2026. A figure near zero says the linear relationship in that window was weak — not that the two markets are unrelated.
• Over the 90 daily closes to 30 July 2026, its annualised realised volatility was measured at 97.7%, above BTC's 34.3% over the same window. A pair quoted in it therefore had a more volatile denominator than the same pair quoted in BTC.
• Its 10x leverage cap is the lowest of the 22 markets described on this site, a level it shares with 6 other markets here — a property of the venue's risk parameters rather than of what the market references. Venue snapshot taken 30 July 2026.