Carlos(@0xcarlosg):TradeXYZ has now flipped Hyperliquid’s native markets in daily perp volume for a third consecutive day. TradeXYZ markets are still in growth mode, meaning all-in fees discounted ≥90% (0.9bps base taker vs 9bps standard), split 50/50 with Hyperliquid. Has anyone modeled the incremental HL revenue once growth mode ends? Wonder how much of this flow survives a 10x increase in fees.

2026.07.11 17:13

TradeXYZ has now flipped Hyperliquid’s native markets in daily perp volume for a third consecutive day. TradeXYZ markets are still in growth mode, meaning all-in fees discounted ≥90% (0.9bps base taker vs 9bps standard), split 50/50 with Hyperliquid. Has anyone modeled the incremental HL revenue once growth mode ends? Wonder how much of this flow survives a 10x increase in fees.