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trade[XYZ]
DEXOpen Interest
$3.574b-6.29%over 24h
Key Metrics
Volume (30d)$64.666b
7d$18.501b
24h$3.015b
All-time$602.03b
18.1x
Markets106
Reference assets106
Asset groups12
67%
Est. Fees (30d)$3.85m
24h$173,202
All-time$36.51m
$46.89m
Markets
| Market | Open Interest | Volume | Price | Funding | Est. Fees | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name | Asset Type | Access Model | Pair | Interval | ||||||||||||
| xyz:sp500S&P 500 Index | Equity Perp | Permissionless | $359.77m | -0.49% | $205.07m | $1.731b | $6.3b | SP500-USDC | $7,784 | +0.05% | -0.043% | -3.00% | 1h | 50x | $9,228 | $283,501 |
| xyz:goldGold | Commodity Perp | Permissionless | $303.56m | +1.27% | $68.5m | $457.96m | $1.695b | GOLD-USDC | $4,189 | +1.43% | +0.008% | +5.48% | 1h | 25x | $30,823 | $762,529 |
| xyz:skhxSK hynix Inc. | Stock Perp | Permissionless | $264.93m | -11.92% | $180.28m | $1.21b | $5.295b | SKHX-USDC | $1,227 | -1.21% | -0.395% | -198% | 1h | 10x | $8,113 | $238,260 |
| xyz:brentoilCrude Oil (Brent) | Commodity Perp | Permissionless | $203.29m | +0.05% | $152.17m | $1.173b | $4.447b | BRENTOIL-USDC | $102.02 | -1.15% | -0.599% | -297% | 1h | 20x | $6,847 | $200,113 |
| xyz:xyz100Nasdaq-100 Index | Equity Perp | Permissionless | $193.79m | -28.45% | $483.03m | $2.377b | $7b | XYZ100-USDC | $30,805 | -0.55% | -0.034% | +5.48% | 1h | 30x | $21,737 | $315,018 |
| xyz:silverSilver | Commodity Perp | Permissionless | $162.61m | -10.50% | $76.89m | $977.27m | $3.321b | SILVER-USDC | $61.02 | +3.01% | +0.01% | +5.48% | 1h | 25x | $3,460 | $149,442 |
| xyz:clCrude Oil (WTI) | Commodity Perp | Permissionless | $156.11m | +11.04% | $248.06m | $1.55b | $7.051b | CL-USDC | $90.94 | -0.78% | -0.233% | -88.57% | 1h | 20x | $11,163 | $317,295 |
| xyz:skhySK hynix Inc. ADR | Stock Perp | Permissionless | $147.13m | -3.25% | $61.6m | $505.68m | $1.737b | SKHY-USDC | $171.14 | -1.73% | -0.056% | +5.48% | 1h | 10x | $2,772 | $78,153 |
| xyz:sndkSandisk Corporation | Stock Perp | Permissionless | $135.6m | -21.10% | $227.31m | $1.049b | $3.495b | SNDK-USDC | $1,622 | -1.06% | -0.025% | +5.48% | 1h | 10x | $10,229 | $157,297 |
| xyz:spcxSpace Exploration Technologies Corp. | Stock Perp | Permissionless | $123.03m | -0.24% | $214.47m | $947.27m | $2.499b | SPCX-USDC | $163.26 | -1.45% | +0.031% | +21.40% | 1h | 20x | $9,651 | $112,436 |
| xyz:crclCircle Internet Group, Inc. | Stock Perp | Permissionless | $119.21m | +6.50% | $36.8m | $224.94m | $1.133b | CRCL-USDC | $82.06 | +2.56% | -0.077% | +5.48% | 1h | 10x | $1,656 | $50,985 |
| xyz:muMicron Technology, Inc. | Stock Perp | Permissionless | $117.39m | -6.95% | $143.22m | $957.21m | $2.759b | MU-USDC | $1,041 | -2.14% | -0.024% | +5.48% | 1h | 10x | $6,445 | $124,136 |
| xyz:nvdaNVIDIA Corporation | Stock Perp | Permissionless | $108.83m | -26.76% | $172.18m | $673.48m | $1.783b | NVDA-USDC | $230.88 | -1.44% | +0.027% | +5.48% | 1h | 20x | $7,748 | $80,230 |
| xyz:cbrsCerebras Systems Inc. | Stock Perp | Permissionless | $100.77m | -6.41% | $19.6m | $255.86m | $387.06m | CBRS-USDC | $163.58 | -4.15% | -0.064% | +21.26% | 1h | 10x | $882.02 | $17,418 |
| xyz:googlAlphabet Inc. | Stock Perp | Permissionless | $100.43m | -5.62% | $28.01m | $213.06m | $782.8m | GOOGL-USDC | $351.10 | -0.02% | +0.006% | +5.48% | 1h | 20x | $1,261 | $35,226 |
| xyz:dramRoundhill Memory ETF | ETF Perp | Permissionless | $77.29m | +3.20% | $70.9m | $487.13m | $1.69b | DRAM-USDC | $57.56 | -1.20% | -0.009% | +5.48% | 1h | 20x | $3,190 | $76,050 |
| xyz:intcIntel Corporation | Stock Perp | Permissionless | $61.82m | +0.86% | $36.33m | $316.2m | $1.122b | INTC-USDC | $106.10 | -2.87% | +0.012% | +18.22% | 1h | 10x | $1,635 | $50,480 |
| xyz:metaMeta Platforms, Inc. | Stock Perp | Permissionless | $58.24m | -11.76% | $24.95m | $177.74m | $1.387b | META-USDC | $719.05 | -0.14% | -0.029% | +5.48% | 1h | 20x | $1,123 | $62,404 |
| xyz:mstrStrategy Inc | Stock Perp | Permissionless | $45.25m | +0.01% | $18.21m | $132.54m | $448.13m | MSTR-USDC | $151.71 | +1.23% | -0.052% | +35.56% | 1h | 10x | $8,193 | $201,657 |
| xyz:tslaTesla, Inc. | Stock Perp | Permissionless | $44.19m | -2.13% | $24.59m | $193.48m | $605.27m | TSLA-USDC | $384.52 | +3.31% | -0.025% | +5.48% | 1h | 20x | $1,107 | $27,237 |
| xyz:amznAmazon.com, Inc. | Stock Perp | Permissionless | $37.38m | -0.95% | $16.89m | $103.94m | $280.1m | AMZN-USDC | $258.37 | -0.14% | -0.003% | +5.48% | 1h | 20x | $760.20 | $12,604 |
| xyz:aaplApple Inc. | Stock Perp | Permissionless | $33.37m | -1.54% | $22.5m | $100.95m | $578.16m | AAPL-USDC | $332.30 | -1.51% | -0.015% | +5.48% | 1h | 20x | $1,012 | $26,017 |
| xyz:smsnSamsung Electronics Co., Ltd. | Stock Perp | Permissionless | $33.19m | +5.23% | $20.57m | $190.15m | $1.078b | SMSN-USDC | $192.75 | -0.50% | -0.115% | -42.88% | 1h | 10x | $925.48 | $48,529 |
About trade[XYZ]
trade[XYZ] is the first HIP-3 builder-deployed perpetual venue on Hyperliquid, launched October 13, 2025 by the Hyperunit team. It operates 24/7 cash-settled perpetual markets covering US equities, ETFs, equity indices (including the world's first officially S&P 500-licensed perpetual via sister deployment ABCD, March 2026), commodities, FX, and pre-IPO/private-company valuations. Markets appear under the xyz namespace and are margined and cash-settled in USDC, giving users synthetic price exposure rather than ownership of the underlying. Cumulative volume since launch has exceeded $100B with an annualized run rate above $600B, accounting for over 35% of all Hyperliquid trading volume.
Entity
Legal entityHyperunit (trade[XYZ])
Primary chainHyperliquid L1
Registry
Operated by the Hyperunit team (also behind Hyperliquid asset-tokenization layer Unit). Core team brings expertise from HRT, Jump Trading, Fortress Investment Group, and US cyber units; founder remains pseudonymous. Markets are deployed under the xyz namespace on Hyperliquid via HIP-3 builder-deployed perpetuals.
Markets
Open interest by asset group
Asset classes
Fees & revenue
Revenue modelMaker/Taker Fees + Funding Skim
ConfidenceIssuer-Disclosed
Margin settlement assetsUSDC (Hyperliquid)
Fees last verified2026-05-11
trade[XYZ] is the largest HIP-3 builder-deployer on Hyperliquid (operates ABCD, COIN, ALPHA, and other namespaces). Under HIP-3, user-facing fees are 2x the standard Hyperliquid validator-perp rate (~7-9 bps taker, ~2-3 bps maker on standard mode; Growth Mode reduces all-in fees by 90%+, to ~0.45-0.9 bps taker). The 50% deployer revenue share goes to trade[XYZ]; the remaining 50% goes to the Hyperliquid protocol. Specific per-market rates vary by Growth Mode setting per asset. Source: https://hyperliquid.gitbook.io/hyperliquid-docs/hyperliquid-improvement-proposals-hips/hip-3-builder-deployed-perpetuals