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 | 104 | Stocks · 82Indices · 10Commodities · 9Forex · 3 | $3.10B | $4.02B | 99.8% |
| 2 | parapara | 26 | Indices · 25Stocks · 1 | $5.24M | $15.87M | 0.2% |
HIP-3 combined: $3.11B 24h volume across 130 markets — 28.21% 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…