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trade[XYZ]
DEXOpen Interest
$3.583b-3.23%over 24h
Key Metrics
Volume (30d)$64.407b
7d$18.242b
24h$2.756b
All-time$601.771b
18x
Markets106
Reference assets106
Asset groups12
66.2%
Est. Fees (30d)$3.84m
24h$157,500
All-time$36.5m
$46.7m
Markets
| Market | Open Interest | Volume | Price | Funding | Est. Fees | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name | Asset Type | Access Model | Pair | Interval | ||||||||||||
| xyz:sp500S&P 500 Index | Equity Perp | Permissionless | $370.26m | +1.84% | $183.53m | $1.71b | $6.278b | SP500-USDC | $7,807 | +0.46% | -0.033% | +4.24% | 1h | 50x | $8,259 | $282,532 |
| xyz:goldGold | Commodity Perp | Permissionless | $298.6m | -3.15% | $62.86m | $452.32m | $1.689b | GOLD-USDC | $4,192 | +1.72% | +0.013% | +5.48% | 1h | 25x | $28,286 | $759,993 |
| xyz:skhxSK hynix Inc. | Stock Perp | Permissionless | $268.53m | -6.93% | $161.87m | $1.191b | $5.276b | SKHX-USDC | $1,217 | -1.10% | +0.004% | +5.48% | 1h | 10x | $7,284 | $237,432 |
| xyz:brentoilCrude Oil (Brent) | Commodity Perp | Permissionless | $208.43m | +2.06% | $132.49m | $1.153b | $4.427b | BRENTOIL-USDC | $101.91 | -0.40% | -0.619% | -335% | 1h | 20x | $5,962 | $199,227 |
| xyz:xyz100Nasdaq-100 Index | Equity Perp | Permissionless | $193.64m | -21.71% | $412.08m | $2.306b | $6.929b | XYZ100-USDC | $30,868 | -0.18% | +0.013% | +5.48% | 1h | 30x | $18,544 | $311,825 |
| xyz:silverSilver | Commodity Perp | Permissionless | $172.3m | -6.22% | $145.57m | $1.046b | $3.39b | SILVER-USDC | $60.83 | +3.27% | +0.054% | +6.18% | 1h | 25x | $6,551 | $152,533 |
| xyz:clCrude Oil (WTI) | Commodity Perp | Permissionless | $143.59m | +2.60% | $133.97m | $1.436b | $6.937b | CL-USDC | $90.64 | +0.01% | -0.2% | -106% | 1h | 20x | $6,029 | $312,161 |
| xyz:skhySK hynix Inc. ADR | Stock Perp | Permissionless | $142.2m | -3.34% | $62.99m | $507.07m | $1.738b | SKHY-USDC | $170.02 | -0.98% | -0.035% | +1.04% | 1h | 10x | $2,835 | $78,216 |
| xyz:sndkSandisk Corporation | Stock Perp | Permissionless | $132.91m | -3.61% | $233.24m | $1.055b | $3.501b | SNDK-USDC | $1,601 | -2.18% | +0.025% | +5.48% | 1h | 10x | $10,496 | $157,564 |
| xyz:spcxSpace Exploration Technologies Corp. | Stock Perp | Permissionless | $126.44m | -2.39% | $193.85m | $926.65m | $2.478b | SPCX-USDC | $162.55 | -0.36% | +0.055% | +11.53% | 1h | 20x | $8,723 | $111,508 |
| xyz:crclCircle Internet Group, Inc. | Stock Perp | Permissionless | $126.11m | +12.29% | $53.58m | $241.72m | $1.15b | CRCL-USDC | $86.66 | +8.54% | +0.105% | +15.40% | 1h | 10x | $2,411 | $51,740 |
| xyz:muMicron Technology, Inc. | Stock Perp | Permissionless | $113.47m | -8.11% | $144.43m | $958.42m | $2.76b | MU-USDC | $1,029 | -3.52% | +0.024% | +5.48% | 1h | 10x | $6,499 | $124,190 |
| xyz:nvdaNVIDIA Corporation | Stock Perp | Permissionless | $106.31m | -7.13% | $121.37m | $622.67m | $1.732b | NVDA-USDC | $229.55 | -2.06% | -0.002% | +5.48% | 1h | 20x | $5,462 | $77,943 |
| xyz:cbrsCerebras Systems Inc. | Stock Perp | Permissionless | $100.67m | -2.80% | $18.21m | $254.47m | $385.67m | CBRS-USDC | $164.27 | -1.81% | +0.086% | +11.65% | 1h | 10x | $819.67 | $17,355 |
| xyz:googlAlphabet Inc. | Stock Perp | Permissionless | $100.38m | -4.47% | $30.04m | $215.09m | $784.83m | GOOGL-USDC | $354.20 | +1.36% | +0.01% | +5.48% | 1h | 20x | $1,352 | $35,317 |
| xyz:dramRoundhill Memory ETF | ETF Perp | Permissionless | $76.2m | +4.94% | $68.89m | $485.12m | $1.688b | DRAM-USDC | $57.13 | -1.58% | +0.027% | +5.48% | 1h | 20x | $3,100 | $75,960 |
| xyz:intcIntel Corporation | Stock Perp | Permissionless | $62.61m | +7.29% | $32.08m | $311.95m | $1.118b | INTC-USDC | $105.58 | -3.14% | +0.066% | +16.99% | 1h | 10x | $1,444 | $50,289 |
| xyz:metaMeta Platforms, Inc. | Stock Perp | Permissionless | $57.88m | -12.39% | $25.4m | $178.19m | $1.387b | META-USDC | $726.13 | +1.12% | -0.027% | +5.48% | 1h | 20x | $1,143 | $62,424 |
| xyz:mstrStrategy Inc | Stock Perp | Permissionless | $45.63m | +3.84% | $15.01m | $129.34m | $444.93m | MSTR-USDC | $156.33 | +4.12% | +0.041% | +5.48% | 1h | 10x | $6,754 | $200,218 |
| xyz:tslaTesla, Inc. | Stock Perp | Permissionless | $43.93m | -2.49% | $29.25m | $198.14m | $609.93m | TSLA-USDC | $383.91 | +2.97% | +0.027% | +5.48% | 1h | 20x | $1,316 | $27,447 |
| xyz:amznAmazon.com, Inc. | Stock Perp | Permissionless | $38.58m | -4.07% | $15.25m | $102.3m | $278.46m | AMZN-USDC | $261.48 | +1.18% | +0.021% | +5.48% | 1h | 20x | $686.39 | $12,531 |
| xyz:aaplApple Inc. | Stock Perp | Permissionless | $33.3m | -0.94% | $23.48m | $101.93m | $579.14m | AAPL-USDC | $334.88 | -1.04% | -0.034% | +5.24% | 1h | 20x | $1,057 | $26,061 |
| xyz:smsnSamsung Electronics Co., Ltd. | Stock Perp | Permissionless | $33.22m | +2.47% | $21.72m | $191.31m | $1.08b | SMSN-USDC | $191.20 | -1.28% | -0.048% | +5.48% | 1h | 10x | $977.54 | $48,581 |
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