ChainCatcher report: Hanson Birringer, Chief Revenue Officer of HyperDash, posted that the team reviewed Jump Trading’s activities on Hyperliquid since its first deposit on December 12, 2025. The firm has used one main account and 16 sub-accounts to trade nearly $150 billion, accounting for 7.8% of the exchange’s perpetual contract volume and 18.9% of XYZ market volume. In July, Jump Trading’s activity represented 17.9% of total exchange volume and 28.7% of XYZ trading volume. Jump Trading initially tested for one week, trading $153 million in BTC, SOL, and HYPE, before depositing additional funds and creating sub-accounts for major book positions in crude oil, Brent crude, natural gas, IPOs, S&P 500, XYZ100, SK Hynix, silver, gold, and storage chips. The strategy is primarily order-taking, with market-making contributing 11%–35% of volume. Current long positions include $32 million in Brent crude and $16 million in CL, hedging short positions in gold, silver, MU, NVDA, DRAM, SK Hynix, XYZ100, and large-cap stocks, with a notional value of $145 million and an account value of $63.6 million. The firm has paid $7 million in fees and realized profits and losses in the hundreds of thousands of dollars. Approximately $65 million in USDC margin has generated about $1.8 million in annualized revenue for Hyperliquid via AQAV2.
Jump Trading trades $150 billion on Hyperliquid, accounting for 7.8% of volume.
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Summary
Hyperliquid’s volume analysis reveals that Jump Trading has executed nearly $150 billion in trades, representing 7.8% of the exchange’s perpetual contract volume. Using one primary account and 16 sub-accounts, Jump’s volume breakout strategy has driven 18.9% of XYZ market activity. In July, the firm accounted for 17.9% of total volume. Initial testing involved $153 million in trades across BTC, SOL, and HYPE. Jump’s strategy focuses on order-eating, with 11%–35% dedicated to market-making. The firm holds a $32 million long position in Brent crude and is hedged in gold, silver, and large-cap stocks. It has paid $7 million in fees, while $65 million in collateral generated $1.8 million in annualized revenue.
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