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Entropy
DEXOpen Interest
$68.23mKey Metrics
Volume (30d)$1.598b
7d$381.41m
24h$52.54m
All-time$2.781b
Turnover (30d)23.4x
Markets6
Reference Assets6
Asset Groups4
Share of DEX OI1.2%
Est. Fees (30d)$71,926
24h$2,364
All-time$125,151
Est. Annual$875,095
Markets
| Market | Open Interest | Volume | Price | Funding | Est. Fees | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name | Asset Type | Access Model | Pair | Interval | ||||||||||||
| io:anthAnthropic | PE Perp | Permissionless | $52.88m | -5.16% | $17.24m | $116.52m | $347.61m | ANTH-USDC | $1,775 | -4.03% | +0.039% | +3.52% | 1h | 15x | $776.01 | $15,642 |
| io:nbisNebius Group N.V. | Stock Perp | Permissionless | $7.42m | -7.30% | $2.42m | $30.56m | $126.25m | NBIS-USDC | $161.52 | -5.12% | +0.052% | +5.48% | 1h | 15x | $109.03 | $5,681 |
| io:sndkSandisk Corporation | Stock Perp | Permissionless | $6.45m | -2.99% | $27.3m | $188.07m | $1.011b | SNDK-USDC | $1,266 | -6.27% | +0.148% | +29.01% | 1h | 15x | $1,228 | $45,496 |
| io:dramRoundhill Memory ETF | ETF Perp | Permissionless | $983,134 | -13.99% | $5.09m | $42.16m | $96.94m | DRAM-USDC | $49.37 | -4.69% | +0.171% | +14.68% | 1h | 25x | $228.93 | $4,362 |
| io:gproGoPro, Inc. | Stock Perp | Permissionless | $252,538 | -11.48% | $144,038 | $423,428 | $1.82m | GPRO-USDC | $0.99 | -1.73% | +0.301% | +5.48% | 1h | 5x | $6.48 | $81.96 |
| io:ewyiShares MSCI South Korea ETF | ETF Perp | Permissionless | $234,725 | -17.86% | $344,555 | $3.68m | $14.71m | EWY-USDC | $155.35 | -3.18% | +0.032% | +15.81% | 1h | 25x | $15.51 | $661.76 |
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.