Activity of retail traders in the HYPE perpetual futures, measured by how often they trade.

It compares the daily number of trades on Binance and Hyperliquid with its 365-day moving average. Because the number of users of each exchange grows over time, the indicator is a relative value rather than a raw count.

Retail Activity = (Trades / 365-day average of Trades - 1) × 100

Values well above 0 show a surge of small traders entering the market, typical of the euphoric phases of a rally; values below 0 show that retail interest is fading. The series starts on 29 May 2026, the first day with a full year of data from both exchanges.

API: Futures Retail Activity · Spot Retail Activity