$688.2M
17.3% of all HIP-3
Index perps on Hyperliquid
Equity index perpetuals: S&P 500, Nasdaq-style baskets, Nikkei, KOSPI and thematic baskets. 8 markets, $688.2M open interest, $609.5M traded in 24h, leverage 10× to 50×.
Open interest
24h volume
$609.5M
notional
Longs paying
100%
of 8 markets with open interest
Markets
| Market | Deployer | Funding 8h | Mark | Open interest |
|---|---|---|---|---|
| SP500 S&P 500 | XYZ | 0.0050% | $7,743 | $382.7M |
| XYZ100 | XYZ | 0.0050% | $29,762 | $290.2M |
| USTECH US tech index | Markets By Kinetiq | 0.0046% | $723.58 | $4.8M |
| US500 S&P 500 (US500) | Markets By Kinetiq | 0.0012% | $771.63 | $4.7M |
| JP225 Nikkei 225 | XYZ | 0.0103% | $65,317 | $2.9M |
| KR200 KOSPI 200 | XYZ | 0.3223% | $885.29 | $1.5M |
| USBOND US bond index | Markets By Kinetiq | 0.0046% | $80.00 | $1.1M |
| SMALL2000 US small-cap 2000 | Markets By Kinetiq | 0.0046% | $276.12 | $375K |
Positive funding: longs pay shorts; hourly rate × 8. Markets without a link are below the $1M open-interest and volume gate.
Questions
- How do index perps work on Hyperliquid?
- They are HIP-3 markets: a builder stakes 500,000 HYPE, deploys its own dex on Hyperliquid, defines the contracts and publishes the oracle prices. Positions are cash-settled in USDC and funding is paid every hour, like any Hyperliquid perp.
- Which deployers list them?
- XYZ, Markets By Kinetiq. 1 of these assets are also listed on Lighter.
- What leverage is available?
- 10× to 50× depending on the market; the deployer sets the cap and whether cross margin is allowed.