According to CoinMeta, Hyperliquid controls 72.9% of the 30-day derivatives trading volume across the three major platforms. In the past 30 days, Hyperliquid handled $198.4 billion in derivatives transactions, while Aster and Lighter handled $40 billion and $33.8 billion respectively. Hyperliquid also generated $48.3 million in fees, far exceeding $4.4 million for Aster and $2.5 million for Lighter. Although Lighter may seem more affordable in terms of valuation, it only generated $24 million in holder income over the past year, whereas Hyperliquid reached $765 million.