Jump Trading has generated $150B in cumulative trading volume on Hyperliquid since December 12, 2025, representing 7.8% of platform perpetual futures volume and paying $7M in fees.
DeFi & Yields ·
Since depositing funds on Hyperliquid on December 12, 2025, Jump Trading has moved nearly $150 billion in cumulative trading volume across a main account and 16 subaccounts, according to analysis by Hyperdash co-founder Hanson Birringer. This activity represents 7.8% of all perpetual futures volume on the platform and 18.9% of xyz market volume. The trading operation has generated approximately $7 million in protocol fees to date.
Jump's current holdings on Hyperliquid include $63.6 million in account equity and $145 million in open notional positions. The firm maintains roughly $65 million in USDC margin on the platform, which under AQAV2 rate conditions produces about $1.8 million annually in net interest income flowing to the protocol.
What remains unclear is the strategy behind Jump's deployment structure—whether the 16 subaccounts serve distinct trading strategies, risk management compartments, or other operational purposes. The extent to which this volume may shift as market conditions evolve or as other large traders enter Hyperliquid is also unspecified.