Reports say Nvidia’s (@nvidia) board is preparing to replace Jensen Huang. After the news broke, Nvidia shares fell about 8% in after-hours trading, and on-chain Nvidia contracts heated up too. NVDA perpetual contracts on @HyperliquidX traded about $1.2 billion over the past 24 hours.
The contract is a U.S. stock perpetual launched by @tradexyz on Hyperliquid. It uses USDC as collateral and trades 24 hours a day. As of 2:40 p.m. Taipei time today, its open interest was about $570 million. That puts it fourth across all of Hyperliquid, behind only Bitcoin, Ethereum, and HYPE—and ahead of SOL contracts, at about $360 million. Wu Says, citing monitoring by Mlm, reported that positions in this market grew about 5.8 times in seven days.
The contract price also reacted to the news. NVDA contracts are now around $160.95, down about 6.9% from $172.84 24 hours ago. Nvidia’s board has yet to announce a decision, and Jensen Huang remains CEO for now.
Even after such a steep price drop, longs are still paying shorts on the $570 million in open positions. The contract’s current funding rate is about 0.0069% per hour, or roughly 60% annualized.
$HYPE
The contract is a U.S. stock perpetual launched by @tradexyz on Hyperliquid. It uses USDC as collateral and trades 24 hours a day. As of 2:40 p.m. Taipei time today, its open interest was about $570 million. That puts it fourth across all of Hyperliquid, behind only Bitcoin, Ethereum, and HYPE—and ahead of SOL contracts, at about $360 million. Wu Says, citing monitoring by Mlm, reported that positions in this market grew about 5.8 times in seven days.
The contract price also reacted to the news. NVDA contracts are now around $160.95, down about 6.9% from $172.84 24 hours ago. Nvidia’s board has yet to announce a decision, and Jensen Huang remains CEO for now.
Even after such a steep price drop, longs are still paying shorts on the $570 million in open positions. The contract’s current funding rate is about 0.0069% per hour, or roughly 60% annualized.
$HYPE
