HIP-3 builder dexs, the live deployment auctions and top-trader TWAP flow — the Hyperliquid ecosystem beyond the order book.
HIP-3 lets anyone deploy their own perp dex on Hyperliquid by winning a 31-hour Dutch auction and staking 500k HYPE. Builder dexs cleared roughly $62B in volume in May 2026 — about 6.63% of global perp volume (as of May–June 2026). The league table below is computed live from the current markets snapshot.
Builder-deployed perp dexs ranked by 24h volume — computed live from the markets snapshot.
| # | Dex | Markets | Asset classes | 24h volume | Open interest | Volume share |
|---|---|---|---|---|---|---|
| 1 | trade.xyzxyz | 73 | Stocks · 51Indices · 10Commodities · 9Forex · 3 | $4.60B | $2.74B | 97.6% |
| 2 | cashcash | 15 | Stocks · 9Indices · 3Commodities · 3 | $85.57M | $34.98M | 1.8% |
| 3 | kmkm | 10 | Indices · 4Commodities · 3Stocks · 2Forex · 1 | $18.36M | $5.07M | 0.4% |
| 4 | hynahyna | 22 | Commodities · 22 | $4.95M | $21.48M | 0.1% |
| 5 | Ventualsvntl | 13 | Pre-IPO · 13 | $4.53M | $18.06M | 0.1% |
| 6 | flxflxShutting down (June 2026) | 15 | Commodities · 9Stocks · 4Indices · 2 | $1.14M | $3.43M | 0.0% |
| 7 | parapara | 4 | Indices · 3Stocks · 1 | $579.06K | $1.88M | 0.0% |
HIP-3 combined: $4.72B 24h volume across 152 markets — 44.86% of all Hyperliquid perp volume today. Share bars compare builder dexs with each other. Explore the markets on the perps screener.
Scanning top traders' TWAP orders…