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Entropy
DEXOpen Interest
$74.31mKey Metrics
Volume (30d)$1.539b
7d$456.35m
24h$37.1m
All-time$2.671b
Turnover (30d)20.7x
Markets6
Reference Assets6
Asset Groups4
Share of DEX OI1.2%
Est. Fees (30d)$69,233
24h$1,670
All-time$120,191
Est. Annual$842,336
Markets
| Market | Open Interest | Volume | Price | Funding | Est. Fees | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name | Asset Type | Access Model | Pair | Interval | ||||||||||||
| io:anthAnthropic | PE Perp | Permissionless | $56.77m | +10.08% | $12.85m | $110.13m | $328.52m | ANTH-USDC | $1,880 | -0.05% | -0.075% | +1.37% | 1h | 15x | $578.12 | $14,783 |
| io:nbisNebius Group N.V. | Stock Perp | Permissionless | $8.82m | +14.11% | $3.25m | $35.76m | $120.16m | NBIS-USDC | $172.71 | +10.08% | +0.07% | +54.32% | 1h | 15x | $146.08 | $5,407 |
| io:sndkSandisk Corporation | Stock Perp | Permissionless | $6.96m | -12.65% | $16.64m | $271.2m | $990.9m | SNDK-USDC | $1,337 | +4.41% | -0.006% | +5.48% | 1h | 15x | $748.87 | $44,591 |
| io:dramRoundhill Memory ETF | ETF Perp | Permissionless | $1.24m | -6.11% | $3.95m | $34.86m | $83.7m | DRAM-USDC | $52.15 | +5.04% | +0.053% | +28.14% | 1h | 25x | $177.58 | $3,767 |
| io:gproGoPro, Inc. | Stock Perp | Permissionless | $271,350 | +8.90% | $26,318 | $197,573 | $1.54m | GPRO-USDC | $1.03 | +0.83% | +0.999% | +503% | 1h | 5x | $1.18 | $69.31 |
| io:ewyiShares MSCI South Korea ETF | ETF Perp | Permissionless | $250,638 | -10.16% | $393,278 | $4.2m | $13.7m | EWY-USDC | $162.49 | +3.69% | -0.002% | +5.48% | 1h | 25x | $17.70 | $616.43 |
About Entropy
Entropy is a HIP-3 builder-deployed perpetual venue on Hyperliquid operating the 'io' dex namespace, launched 2026-08-18 with equity, index and pre-IPO perpetual markets. Deployer 0x320c8988e3d1b5198f335802d7bfd2728a8fcac6; oracle updater 0x94757f8dcb4bf73b850195660e959d1105cfedd5. Markets cash-settle in USDC. Pre-IPO markets quote in market-cap units rather than per-share prices and carry a two-year no-IPO resolution that settles to the 30-day trailing TWAP of the mark.
Entity
Legal entityEntropy
Primary chainHyperliquid L1
Registry
Publicly announced a $14M raise led by Ribbit Capital plus a $40M HYPE stake (issuer claim, not independently verified as of 2026-08-25). Operates the 'io' HIP-3 namespace on Hyperliquid.
Markets
Open Interest by asset group
Asset classes
Fees & revenue
Revenue modelMaker/Taker Fees
ConfidenceIssuer-Disclosed
Margin Settlement AssetsUSDC (Hyperliquid)
Fees Last Verified2026-08-25
HIP-3 builder-deployer on Hyperliquid. Fees are 2x the standard HL perp schedule (3.0 bps maker / 9.0 bps taker), protocol fee split evenly with Hyperliquid; deployerFeeScale 1.0. Both live markets have growth mode enabled (2026-08-19), scaling all fees, rebates and volume contribution by 0.1, so the effective schedule is 0.30 bps maker / 0.90 bps taker. Funding is peer-to-peer with no exchange cut, so there is no funding skim.