Lighter, Hyperliquid, and Aster Show Divergent Performance in Perpetual Trading
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Volume Comparison: In the rapidly growing perpetual contract market, Lighter, Hyperliquid, and Aster reported weekly trading volumes of $36 billion, $35 billion, and $32 billion respectively, indicating similar volume yet vastly different market performances.
- Open Interest Disparity: Hyperliquid's open interest stands at $7 billion, significantly higher than Aster's $2.5 billion and Lighter's $1.7 billion, suggesting a deeper capital commitment among traders on Hyperliquid.
- Turnover Analysis: Lighter boasts a turnover rate of 23.6x, indicating rapid trading velocity, while Hyperliquid's 4.8x reflects a strategy favoring larger, longer-held positions, showcasing distinct market approaches.
- Fee Generation Comparison: Hyperliquid excels in fee generation with $14 million, far surpassing Aster's $6.5 million and Lighter's $1.7 million, demonstrating its ability to extract more revenue per dollar traded despite similar volumes.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
