In a report published November 12, 2026, at 12:14 p.m. UTC+8, ChainCatcher cited monitoring by Mlm on chain showing $535 million in open interest in Hyperliquid’s NVDA market. That made NVDA the largest HIP-3 market by open interest and the platform’s fourth-largest market overall, behind BTC, ETH and HYPE. Open interest had risen 5.8-fold over the preceding seven days and stood at 2.4 times its previous June peak of $227 million. Daily NVDA trading volume had exceeded $1 billion for the first time.
The largest individual position was a short held by Jump: 348,000 NVDA shares valued at about $56 million. The report described it as non-directional. The largest directional position was a long of 191,000 shares worth about $30.7 million, built gradually over the preceding 24 hours at an average entry price of $174.43. It had an unrealized loss of about $2.6 million.
The market had 9,517 trading wallets, 83% of which held long positions. Market makers accounted for 70% of short open interest. Long positions had an average entry price of $169.55, while the mark price was $160.66—about 5.2% lower. Unrealized losses across all NVDA longs totaled $14.6 million. These are readings from the reported snapshot, not current market figures.