Talos Expands Coin Metrics Market Data with Hyperliquid Coverage

We’re excited to announce that Talos has added Hyperliquid market data to its Coin Metrics Market Data offering. This integration expands coverage of decentralized perpetual futures markets and provides users with consistent, high-quality access to trading activity data from the Hyperliquid venue.

Data is structured, cleaned and formatted according to Talos’s quality standards, making it ready for analysis and comparison across venues, and easy to integrate into workflows.

What is Hyperliquid?

Hyperliquid is a decentralized exchange focused on perpetual futures trading. It operates entirely on-chain while using a high-performance execution environment designed for speed, deep liquidity and lower slippage. Hyperliquid has quickly become one of the fastest-growing DEXes and has consistently been one of the most requested additions by our clients, particularly among derivatives traders and market makers active in perpetual futures markets.

Why this matters

Perpetual futures have become a key component of digital asset market structure, and decentralized venues continue to gain relevance as participants diversify execution and liquidity sources. Tracking activity on Hyperliquid provides visibility into:

• On-chain derivatives market flows
• Funding rate dynamics and pricing signals
• Shifts in open interest and liquidity concentration
• Differences between decentralized and centralized market behavior

As institutional participation expands, having reliable access to this type of market data supports trading strategies, research and risk oversight.

Data availability

Our data coverage spans Hyperliquid’s spot and perpetual futures markets, including the newly-launched HIP-3 builder-deployed perpetual futures markets. All major data types are supported, including contract specifications, trades, order book, open interest, funding rates, and our full suite of derived metrics.

Get started

Interested in adding Hyperliquid data into your workflow? Contact our team to learn more about Coin Metrics Market Data products.