Compass Trade

Hyperliquid closed out 2025 with approximately $2.9 trillion in trading volume, more than 609,000 new users, roughly $844 million in revenue, and about $4.1 billion in total value locked, according to data from ASXN — figures that put it ahead of competitors GMX and dYdX on the metrics derivatives traders track most closely, and among the most profitable exchanges in DeFi. JPMorgan flagged the platform's traction in a note in March 2026.
Despite that scale, infrastructure providers building on Hyperliquid have described the chain's analytics, strategy, and automation tooling as still "underbuilt" relative to the volume it now processes — a gap that a handful of third-party platforms are racing to fill.
The current field includes six notable players. Hyperdash offers a real-time trading terminal with liquidation heatmaps and execution tools. HyperTracker has indexed more than 1.5 million wallets with classified order-flow data, monetizing primarily through a paid API aimed at developers. Buildix, an orderflow-focused platform, has made a name for giving away signal-processing tools — including VPIN and absorption detection — for free. ASXN's Hyperscreener, built by the analytics firm that also powers Hyperliquid's own official statistics dashboard, covers perps, spot, HIP-3, and HyperEVM markets in real time. CoinGlass folds Hyperliquid into its broader multi-exchange derivatives platform.
A newer entrant, compass.trade, has taken a different approach — reconstructing on-chain fills to build detailed profiles of individual wallets rather than aggregating market-wide statistics. The platform currently tracks 36,744 wallets, of which 13,043 hold open positions, ranking them by net PnL, win rate, and return on investment, alongside a volume-adjusted "efficiency" metric. It has also introduced a natural-language query tool, /ask, and includes built-in copytrading functionality. According to the company, a licensable data API with native support for the Model Context Protocol — which would allow AI agents to query trader data directly — is also in development, though this has not yet been reflected in public documentation.
compass.trade describes its approach as analytics built for what's coming to Hyperliquid, pointing to its AI-agent ambitions.
As AI agents increasingly factor into quantitative trading workflows industry-wide, tools offering direct, structured access to trader-level data are likely to draw growing attention across the sector, even as the broader Hyperliquid analytics market remains fragmented and, by several accounts, still maturing.