On-Chain Perps Hit $18.2B Daily Volume as Hyperliquid Closes Gap with CEXs

2026-10-31, FP360 — Hyperliquid's on-chain perpetuals volume surged to $18.2B in the past 24 hours, now 18% of Binance's $98B, as traders migrate for transparency and self-custody. The shift pressures CEX fee models and signals a structural power transfer in derivatives markets, with liquidity rotating toward decentralized rails.

The Signal: Long Hyperliquid's HLP token and short CEX tokens as volume migration accelerates.

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Originally published on FINPULSE 360