Stocks, commodities and indices as perps on Hyperliquid

Snapshot Tue, 20 Oct 2026 22:07:09 UTC · HIP-3 builder dexs · what HIP-3 is · markets.json

163 live markets from 4 deployers, funding every hour on an 8h basis, with the same asset on Lighter alongside where it is listed. 50 markets have their own page.

Open interest · all HIP-3

$3.97B

XYZ holds 97%

24h volume

$3.63B

notional across 163 markets

Longs paying

83%

of markets with open interest have positive funding

Deployers

XYZ · EntropyIO · Paragon · Markets By Kinetiq

By class

80 markets

Stock perps

$1.69B open interest · SKHX, MU, SNDK, META

9 markets

Commodity perps

$844.1M open interest · GOLD, BRENTOIL, CL, SILVER

8 markets

Index perps

$688.2M open interest · SP500, XYZ100, USTECH, US500

9 markets

Pre-IPO perps

$266.7M open interest · SPCX, ANTH, CXMT, UNITREE

14 markets

ETF perps

$76.7M open interest · SOXL, EWY, KORU, TLT

3 markets

FX perps

$58.2M open interest · JPY, EUR, GBP

3 markets

Rates perps

$3.0M open interest · 10Y, 2Y, 30Y

4 markets

Crypto perps on HIP-3 dexs

$2.6M open interest · BTCD, TOTAL2, OTHERS, BVIV

19 markets

Other HIP-3 markets

$343.4M open interest · SKHY, DRAM, CBRS, STRC

All live markets

Market	Class	Deployer	Funding 8h	APR	Mark	Open interest	24h volume	Max lev.
SP500 S&P 500	Indices	XYZ	0.0050%	5.5%	$7,743	$382.7M	$361.9M	50×
SKHX SK Hynix	Stocks	XYZ	0.2343%	256.6%	$955.40	$371.0M	$351.9M	10×
XYZ100	Indices	XYZ	0.0050%	5.5%	$29,762	$290.2M	$241.5M	30×
GOLD Gold	Commodities	XYZ	0.0050%	5.5%	$4,127	$277.2M	$35.4M	25×
BRENTOIL Brent crude oil	Commodities	XYZ	0.0050%	5.5%	$105.34	$209.1M	$170.2M	20×
SKHY	Other	XYZ	-0.0162%	-17.8%	$143.64	$200.5M	$103.5M	10×
CL WTI crude oil	Commodities	XYZ	-0.0098%	-10.7%	$98.02	$166.7M	$336.2M	20×
SILVER Silver	Commodities	XYZ	0.0050%	5.5%	$57.97	$160.0M	$75.6M	25×
MU Micron	Stocks	XYZ	0.0078%	8.5%	$920.80	$150.3M	$115.7M	10×
SPCX SpaceX	Pre-IPO	XYZ	-0.0054%	-5.9%	$157.85	$149.1M	$200.6M	20×
SNDK SanDisk	Stocks	XYZ	0.0133%	14.6%	$1,406	$125.4M	$171.0M	10×
SNDK SanDisk	Stocks	EntropyIO	0.0556%	60.9%	$1,405	$12.3M	$72.8M	15×
META Meta	Stocks	XYZ	0.0091%	9.9%	$695.58	$109.8M	$63.6M	20×
GOOGL Alphabet	Stocks	XYZ	0.0050%	5.5%	$340.83	$104.2M	$111.7M	20×
NVDA Nvidia	Stocks	XYZ	0.0050%	5.5%	$221.29	$102.7M	$168.7M	20×
CRCL Circle	Stocks	XYZ	0.0007%	0.8%	$86.38	$73.0M	$50.6M	10×
DRAM	Other	XYZ	0.0050%	5.5%	$49.16	$66.8M	$124.3M	20×
DRAM	Other	EntropyIO	0.0050%	5.5%	$49.14	$1.6M	$3.5M	25×
INTC Intel	Stocks	XYZ	0.0079%	8.7%	$95.24	$59.9M	$52.7M	10×
TSLA Tesla	Stocks	XYZ	0.0050%	5.5%	$379.44	$59.5M	$55.8M	20×
AAPL Apple	Stocks	XYZ	0.0050%	5.5%	$338.22	$58.5M	$25.6M	20×
NBIS Nebius	Stocks	XYZ	0.0383%	42.0%	$181.05	$47.5M	$36.3M	10×
NBIS Nebius	Stocks	EntropyIO	0.0336%	36.8%	$180.70	$7.6M	$5.9M	15×
SMSN Samsung Electronics	Stocks	XYZ	0.3582%	392.2%	$166.65	$44.6M	$48.9M	10×
ANTH Anthropic	Pre-IPO	EntropyIO	0.0080%	8.7%	$1,921	$43.2M	$10.0M	6×
SOXL Direxion Semiconductor Bull 3x ETF	ETFs	XYZ	0.0087%	9.5%	$104.60	$39.9M	$130.4M	10×
MSTR Strategy	Stocks	XYZ	0.0128%	14.0%	$144.94	$37.5M	$19.0M	10×
CBRS	Other	XYZ	0.0050%	5.5%	$122.60	$34.9M	$21.3M	10×
AMZN Amazon	Stocks	XYZ	0.0143%	15.6%	$263.68	$33.1M	$20.3M	20×
CXMT CXMT	Pre-IPO	XYZ	0.3209%	351.4%	$6.30	$30.6M	$17.9M	10×
JPY Japanese yen	FX	XYZ	-0.0127%	-13.9%	$158.17	$30.4M	$2.2M	50×
EUR Euro (EUR/USD)	FX	XYZ	0.0077%	8.5%	$1.12	$26.8M	$2.3M	50×
MSFT Microsoft	Stocks	XYZ	0.0050%	5.5%	$530.85	$24.6M	$14.1M	20×
UNITREE Unitree Robotics	Pre-IPO	XYZ	0.0413%	45.2%	$77.12	$19.4M	$41.9M	10×
UNITREE Unitree Robotics	Pre-IPO	Paragon	0.1442%	157.9%	$76.92	$1.8M	$1.3M	10×
CRWV CoreWeave	Stocks	XYZ	0.0050%	5.5%	$65.03	$18.6M	$35.4M	10×
HOOD Robinhood	Stocks	XYZ	0.0050%	5.5%	$99.73	$18.2M	$5.7M	10×
ORCL Oracle	Stocks	XYZ	0.0050%	5.5%	$132.95	$17.3M	$3.6M	10×
COIN Coinbase	Stocks	XYZ	0.0252%	27.5%	$172.18	$14.9M	$5.3M	10×
AMD AMD	Stocks	XYZ	0.0140%	15.3%	$547.43	$14.8M	$34.2M	10×
MRNA Moderna	Stocks	XYZ	-0.0386%	-42.2%	$241.22	$13.5M	$28.3M	10×
STRC	Other	XYZ	-0.0369%	-40.4%	$98.77	$13.3M	$1.4M	10×
PLTR Palantir	Stocks	XYZ	0.0050%	5.5%	$193.63	$13.1M	$3.2M	10×
NATGAS Natural gas	Commodities	XYZ	0.0050%	5.5%	$3.32	$13.0M	$5.7M	10×
EWY iShares South Korea ETF	ETFs	XYZ	0.0050%	5.5%	$157.93	$12.2M	$29.5M	20×
EWY iShares South Korea ETF	ETFs	EntropyIO	0.0050%	5.5%	$157.84	$428K	$732K	25×
AVGO Broadcom	Stocks	XYZ	0.0142%	15.6%	$338.63	$11.8M	$2.2M	10×
AVGO Broadcom	Stocks	Paragon	0.0060%	6.6%	$338.40	$310K	$157K	10×
PURRDAT Hyperliquid Strategies (PURR)	Stocks	XYZ	0.0050%	5.5%	$9.36	$12.1M	$3.6M	10×
BABA Alibaba	Stocks	XYZ	0.0050%	5.5%	$108.99	$11.9M	$1.8M	10×
MRVL Marvell	Stocks	XYZ	0.0170%	18.7%	$247.18	$11.4M	$24.2M	10×
COPPER Copper	Commodities	XYZ	0.0029%	3.1%	$6.62	$11.2M	$4.4M	20×
ZHIPU Zhipu AI	Pre-IPO	XYZ	0.0602%	66.0%	$62.79	$11.1M	$17.8M	10×
DELL Dell	Stocks	XYZ	0.0050%	5.5%	$488.68	$9.5M	$7.4M	10×
BB	Other	XYZ	0.0050%	5.5%	$8.94	$9.1M	$2.4M	10×
KORU Direxion South Korea Bull 3x ETF	ETFs	XYZ	0.0050%	5.5%	$12.20	$8.7M	$25.6M	10×
TSM TSMC	Stocks	XYZ	0.0053%	5.8%	$433.17	$8.4M	$3.3M	10×
LITE Lumentum	Stocks	XYZ	-0.0267%	-29.2%	$856.38	$7.6M	$3.2M	10×
OAI OpenAI	Pre-IPO	EntropyIO	0.0026%	2.8%	$1,513	$7.1M	$1.5M	6×
KIOXIA Kioxia	Stocks	XYZ	0.4314%	472.4%	$88.94	$6.9M	$6.2M	10×
NFLX Netflix	Stocks	XYZ	0.0112%	12.3%	$64.83	$6.9M	$9.6M	10×
RKLB Rocket Lab	Stocks	XYZ	0.0120%	13.1%	$52.33	$6.8M	$12.8M	10×
IREN IREN	Stocks	XYZ	0.0184%	20.1%	$27.89	$5.5M	$6.8M	10×
IREN IREN	Stocks	Paragon	0.0166%	18.1%	$27.89	$473K	$324K	10×
PRL	Other	EntropyIO	0.3566%	390.5%	$2.15	$5.9M	$4.8M	3×
AAOI Applied Optoelectronics	Stocks	XYZ	0.0195%	21.4%	$80.31	$5.2M	$2.4M	10×
AAOI Applied Optoelectronics	Stocks	Paragon	0.0242%	26.4%	$80.25	$261K	$9K	10×
ARM Arm	Stocks	XYZ	0.0050%	5.5%	$227.35	$5.0M	$2.3M	10×
GME GameStop	Stocks	XYZ	0.0131%	14.3%	$26.49	$5.0M	$4.4M	10×
TLT iShares 20+ Year Treasury ETF	ETFs	XYZ	0.0593%	65.0%	$79.97	$5.0M	$119K	20×
USTECH US tech index	Indices	Markets By Kinetiq	0.0046%	5.0%	$723.58	$4.8M	$865K	25×
US500 S&P 500 (US500)	Indices	Markets By Kinetiq	0.0012%	1.3%	$771.63	$4.7M	$1.4M	25×
LLY Eli Lilly	Stocks	XYZ	0.0050%	5.5%	$1,283	$4.6M	$1.9M	10×
BE Bloom Energy	Stocks	XYZ	0.0118%	13.0%	$232.61	$4.1M	$4.9M	10×
WDC Western Digital	Stocks	XYZ	0.0241%	26.4%	$372.80	$3.6M	$3.0M	10×
PLATINUM Platinum	Commodities	XYZ	0.0044%	4.8%	$1,659	$3.6M	$1.4M	20×
SNXX	Other	XYZ	0.0064%	7.0%	$10.60	$3.5M	$15.1M	10×
SMH VanEck Semiconductor ETF	ETFs	XYZ	0.0082%	8.9%	$559.04	$2.9M	$961K	20×
SMH VanEck Semiconductor ETF	ETFs	Paragon	0.0288%	31.6%	$558.22	$170K	$161K	10×
PALLADIUM Palladium	Commodities	XYZ	0.0309%	33.8%	$1,107	$3.0M	$1.5M	20×
JP225 Nikkei 225	Indices	XYZ	0.0103%	11.3%	$65,317	$2.9M	$2.4M	20×
ASML ASML	Stocks	XYZ	0.0224%	24.5%	$1,674	$2.8M	$1.0M	10×
MINIMAX MiniMax	Pre-IPO	XYZ	0.0417%	45.7%	$22.28	$2.8M	$3.4M	10×
QCOM Qualcomm	Stocks	XYZ	0.0290%	31.7%	$177.54	$2.3M	$468K	10×
BOT	Other	XYZ	-0.0684%	-74.9%	$22.72	$2.2M	$1.5M	10×
BMNR Bitmine	Stocks	XYZ	0.0255%	27.9%	$23.11	$2.2M	$426K	10×
EWZ iShares Brazil ETF	ETFs	XYZ	0.0565%	61.8%	$43.12	$2.0M	$456K	20×
URNM Sprott Uranium Miners ETF	ETFs	XYZ	0.0933%	102.2%	$43.57	$1.9M	$138K	10×
USAR USA Rare Earth	Stocks	XYZ	0.0366%	40.1%	$10.29	$1.9M	$675K	10×
HIMS Hims & Hers	Stocks	XYZ	0.0795%	87.1%	$29.41	$1.8M	$1.6M	10×
NOK Nokia	Stocks	XYZ	0.0365%	40.0%	$9.21	$1.7M	$1.4M	10×
HYUNDAI Hyundai Motor	Stocks	XYZ	0.0900%	98.6%	$238.02	$1.6M	$1.8M	10×
IBM IBM	Stocks	XYZ	0.0302%	33.1%	$241.69	$1.5M	$603K	10×
NOW ServiceNow	Stocks	XYZ	-0.0083%	-9.1%	$148.70	$1.5M	$508K	10×
KR200 KOSPI 200	Indices	XYZ	0.3223%	352.9%	$885.29	$1.5M	$1.2M	20×
SHAZ	Other	XYZ	0.1365%	149.4%	$28.15	$1.4M	$319K	10×
GLW Corning	Stocks	Paragon	0.0536%	58.6%	$135.95	$869K	$293K	10×
GLW Corning	Stocks	XYZ	0.0620%	67.9%	$135.95	$445K	$67K	10×
TTWO Take-Two Interactive	Stocks	Paragon	-0.2577%	-282.2%	$207.61	$1.3M	$32K	10×
10Y US 10-year Treasury yield	Rates	Paragon	0.0010%	1.1%	$5.12	$1.3M	$27K	20×
COHR Coherent	Stocks	Paragon	0.0411%	45.0%	$240.70	$1.2M	$295K	10×
2Y US 2-year Treasury yield	Rates	Paragon	0.0010%	1.1%	$4.81	$1.2M	$26K	20×
VST Vistra	Stocks	Paragon	0.0060%	6.6%	$152.67	$1.1M	$149K	10×
SOFTBANK SoftBank	Stocks	XYZ	0.1503%	164.6%	$29.56	$1.1M	$537K	10×
BTCD Bitcoin dominance	Crypto	Paragon	0.0380%	41.6%	$60.65	$1.1M	$12K	20×
USBOND US bond index	Indices	Markets By Kinetiq	0.0046%	5.0%	$80.00	$1.1M	$102K	10×
AMAT Applied Materials	Stocks	XYZ	0.0014%	1.6%	$415.56	$1.0M	$1.2M	10×
GBP British pound (GBP/USD)	FX	XYZ	0.0000%	0.0%	$1.34	$1.0M	$142K	50×
XLE Energy Select Sector ETF	ETFs	XYZ	0.0050%	5.5%	$67.89	$979K	$577K	20×
EWJ iShares Japan ETF	ETFs	XYZ	0.0598%	65.5%	$95.72	$977K	$612K	20×
TOTAL2 Crypto market cap ex-BTC	Crypto	Paragon	0.0060%	6.6%	$1,086	$870K	$149K	20×
QNT	Other	XYZ	-0.0340%	-37.2%	$36.38	$834K	$753K	10×
EWT iShares Taiwan ETF	ETFs	XYZ	-0.1028%	-112.6%	$108.75	$832K	$276K	20×
RIVN Rivian	Stocks	XYZ	0.0050%	5.5%	$12.46	$809K	$212K	10×
OURA Oura	Pre-IPO	XYZ	-0.0054%	-5.9%	$48.68	$800K	$5K	5×
SHEIN Shein	Pre-IPO	XYZ	-0.0327%	-35.8%	$4.68	$746K	$358K	10×
GIGADEV	Other	XYZ	1.0541%	1154.3%	$43.35	$692K	$635K	10×
NET Cloudflare	Stocks	XYZ	0.0464%	50.8%	$294.97	$533K	$176K	10×
NET Cloudflare	Stocks	Paragon	0.0060%	6.6%	$294.60	$133K	$32K	10×
CRWD CrowdStrike	Stocks	XYZ	0.0516%	56.5%	$229.58	$588K	$949K	10×
CRWD CrowdStrike	Stocks	Paragon	0.0089%	9.7%	$229.25	$58K	$7K	10×
CRDO Credo	Stocks	Paragon	0.0219%	23.9%	$184.44	$627K	$535K	10×
MAGS Roundhill Magnificent Seven ETF	ETFs	XYZ	-0.1773%	-194.2%	$72.41	$604K	$112K	10×
NCLD	Other	XYZ	-0.0174%	-19.1%	$17.65	$591K	$633K	10×
LYTE	Other	XYZ	0.2118%	232.0%	$20.35	$563K	$45K	10×
COST Costco	Stocks	XYZ	-0.0224%	-24.5%	$992.20	$551K	$367K	20×
LRCX Lam Research	Stocks	Paragon	0.0060%	6.6%	$271.86	$313K	$45K	10×
LRCX Lam Research	Stocks	XYZ	0.0193%	21.1%	$271.86	$226K	$142K	10×
30Y US 30-year Treasury yield	Rates	Paragon	0.0010%	1.1%	$5.42	$505K	$15K	20×
TREAD	Other	Paragon	0.2671%	292.5%	$0.910	$501K	$120K	5×
GEV GE Vernova	Stocks	XYZ	0.0497%	54.4%	$908.09	$472K	$299K	10×
BX Blackstone	Stocks	XYZ	0.0231%	25.3%	$110.83	$471K	$338K	10×
OTHERS Crypto market cap ex-top 10	Crypto	Paragon	0.0060%	6.6%	$212.76	$469K	$284K	10×
ANSEM	Other	Paragon	0.1694%	185.5%	$0.0985	$469K	$735K	3×
DKNG DraftKings	Stocks	XYZ	-0.0236%	-25.9%	$20.44	$456K	$304K	10×
SMALL2000 US small-cap 2000	Indices	Markets By Kinetiq	0.0046%	5.0%	$276.12	$375K	$65K	20×
ZM Zoom	Stocks	XYZ	-0.0311%	-34.1%	$98.31	$343K	$130K	10×
RDDT Reddit	Stocks	XYZ	0.0288%	31.6%	$156.47	$259K	$117K	10×
RDDT Reddit	Stocks	Paragon	0.1286%	140.8%	$156.49	$60K	$25K	10×
STX Seagate	Stocks	Paragon	0.0347%	38.0%	$695.00	$310K	$210K	10×
HO Heating oil	Commodities	XYZ	-0.0659%	-72.1%	$4.74	$292K	$826K	10×
GPRO GoPro	Stocks	EntropyIO	0.1570%	171.9%	$1.10	$280K	$23K	5×
EBAY eBay	Stocks	XYZ	-0.0537%	-58.8%	$121.33	$233K	$68K	10×
CVX Chevron	Stocks	XYZ	-0.0621%	-68.0%	$225.24	$232K	$75K	10×
SMCI Super Micro Computer	Stocks	Paragon	-0.0032%	-3.5%	$36.98	$207K	$422K	10×
CIFR Cipher Mining	Stocks	Paragon	0.0060%	6.6%	$9.33	$188K	$142K	10×
TCNT	Other	EntropyIO	0.0808%	88.5%	$52.86	$181K	$53K	10×
BVIV Bitcoin volatility index	Crypto	Markets By Kinetiq	1.5017%	1644.4%	$39.48	$173K	$111K	5×
UMC UMC	Stocks	XYZ	0.2317%	253.7%	$20.06	$168K	$70K	10×
KSTR	Other	XYZ	0.5952%	651.7%	$19.72	$148K	$72K	10×
DRV	Other	Paragon	0.0060%	6.6%	$0.398	$137K	$186K	5×
SOFI SoFi	Stocks	Paragon	0.0060%	6.6%	$14.76	$120K	$136K	10×
IONQ IonQ	Stocks	EntropyIO	0.0332%	36.4%	$31.88	$104K	$78K	10×
XIAOMI Xiaomi	Stocks	EntropyIO	0.0072%	7.9%	$3.46	$88K	$57K	10×
BIRD	Other	XYZ	-0.1996%	-218.6%	$2.33	$84K	$9K	10×
TER Teradyne	Stocks	Paragon	-0.0612%	-67.0%	$346.20	$80K	$19K	10×
TWST Twist Bioscience	Stocks	XYZ	0.0050%	5.5%	$143.28	$78K	$483K	10×
XBI SPDR Biotech ETF	ETFs	XYZ	0.0087%	9.5%	$153.40	$78K	$29K	10×
IGV iShares Software ETF	ETFs	Paragon	0.0060%	6.6%	$107.34	$69K	$6K	10×
MELI MercadoLibre	Stocks	Paragon	0.0164%	18.0%	$1,875	$58K	$31K	10×
CIEN Ciena	Stocks	Paragon	0.0615%	67.3%	$351.25	$52K	$36K	10×
GDX VanEck Gold Miners ETF	ETFs	Paragon	0.0060%	6.6%	$86.39	$29K	$26K	10×
CAMBRICON Cambricon	Stocks	XYZ	-0.2044%	-223.8%	$137.84	$12K	$3K	10×

Positive funding: longs pay shorts. Rates are the venue's hourly rate × 8. Markets below $1M open interest and volume have no page of their own yet; methodology.

Deployers

Dex	Markets	Open interest	24h volume	Largest markets
XYZ xyz	115	$3.87B	$3.52B	SP500, SKHX, XYZ100, GOLD, BRENTOIL
EntropyIO io	11	$78.7M	$99.4M	ANTH, SNDK, NBIS, OAI, PRL
Paragon para	32	$16.3M	$6.0M	UNITREE, TTWO, 10Y, COHR, 2Y
Markets By Kinetiq mkts	5	$11.1M	$2.6M	USTECH, US500, USBOND, SMALL2000, BVIV

What HIP-3 is

HIP-3 lets a builder deploy its own perpetual markets on Hyperliquid. The deployer stakes 500,000 HYPE on mainnet, defines each market (oracle, contract specs, leverage limits), publishes the oracle price itself and can halt and settle a market. The first three assets of a dex are free to list; further listings go through the shared Dutch auction. Deployers can add a fee share on top of Hyperliquid's base fees. Validators can slash a deployer's stake for invalid state transitions or prolonged downtime. Source: Hyperliquid docs, HIP-3.

For a trader the practical differences from the core Hyperliquid book: the oracle is the deployer's, not a median of CEX prices; leverage caps are lower (1× to 50× here); pre-IPO contracts are priced as implied valuation, not a share price; and each dex has its own backstop liquidator. Funding works the same way: paid every hour, positive when longs pay shorts.