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trade[XYZ]
DEXOpen Interest
$3.75bKey Metrics
Volume (30d)$66.491b
7d$22.822b
24h$2.721b
All-time$621.836b
Turnover (30d)17.7x
Markets106
Reference Assets106
Asset Groups12
Share of DEX OI68%
Est. Fees (30d)$3.91m
24h$153,732
All-time$37.6m
Est. Annual$47.57m
Markets
| Market | Open Interest | Volume | Price | Funding | Est. Fees | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name | Asset Type | Access Model | Pair | Interval | ||||||||||||
| xyz:skhxSK hynix Inc. | Stock Perp | Permissionless | $377.37m | -1.91% | $118.4m | $2.116b | $5.058b | SKHX-USDC | $925.14 | -2.94% | +0.091% | +44.59% | 1h | 10x | $5,328 | $227,622 |
| xyz:sp500S&P 500 Index | Equity Perp | Permissionless | $335.91m | +0.49% | $254.04m | $1.986b | $6.715b | SP500-USDC | $7,653 | -1.29% | +0.017% | +5.48% | 1h | 50x | $11,432 | $302,173 |
| xyz:xyz100Nasdaq-100 Index | Equity Perp | Permissionless | $318.25m | +5.16% | $300.4m | $2.203b | $7.023b | XYZ100-USDC | $29,211 | -2.46% | +0.025% | +5.48% | 1h | 30x | $13,518 | $316,048 |
| xyz:goldGold | Commodity Perp | Permissionless | $291.73m | -6.29% | $41.97m | $358.06m | $1.552b | GOLD-USDC | $4,164 | -0.58% | -0.024% | +3.99% | 1h | 25x | $18,887 | $698,592 |
| xyz:brentoilCrude Oil (Brent) | Commodity Perp | Permissionless | $192.43m | +16.46% | $210.88m | $1.121b | $4.073b | BRENTOIL-USDC | $107 | +4.25% | -0.02% | -0.25% | 1h | 20x | $9,490 | $183,294 |
| xyz:skhySK hynix Inc. ADR | Stock Perp | Permissionless | $189.81m | -0.49% | $61.4m | $747.26m | $1.842b | SKHY-USDC | $137.69 | -2.76% | +0.078% | +34.17% | 1h | 10x | $2,763 | $82,900 |
| xyz:silverSilver | Commodity Perp | Permissionless | $160.61m | -13.52% | $95.34m | $1.014b | $3.657b | SILVER-USDC | $57.06 | -1.56% | +0.06% | +5.48% | 1h | 25x | $4,290 | $164,580 |
| xyz:muMicron Technology, Inc. | Stock Perp | Permissionless | $157.51m | -6.23% | $83.96m | $894.5m | $2.724b | MU-USDC | $882.05 | -3.92% | +0.102% | +38.02% | 1h | 10x | $3,778 | $122,567 |
| xyz:clCrude Oil (WTI) | Commodity Perp | Permissionless | $152.94m | +19.54% | $224.35m | $1.211b | $5.43b | CL-USDC | $98.93 | +3.56% | -0.008% | +5.48% | 1h | 20x | $10,096 | $244,368 |
| xyz:spcxSpace Exploration Technologies Corp. | Stock Perp | Permissionless | $127.2m | -2.35% | $143.31m | $857.39m | $2.46b | SPCX-USDC | $145.68 | -4.18% | +0.067% | +28.93% | 1h | 20x | $6,449 | $110,719 |
| xyz:sndkSandisk Corporation | Stock Perp | Permissionless | $120.12m | -1.93% | $136.94m | $1.477b | $3.758b | SNDK-USDC | $1,300 | -5.40% | +0.124% | +54.40% | 1h | 10x | $6,162 | $169,129 |
| xyz:nvdaNVIDIA Corporation | Stock Perp | Permissionless | $100.59m | -1.04% | $118.5m | $1.113b | $2.392b | NVDA-USDC | $214.65 | -1.52% | +0.044% | +7.15% | 1h | 20x | $5,333 | $107,635 |
| xyz:googlAlphabet Inc. | Stock Perp | Permissionless | $95.49m | -0.47% | $32.35m | $495.61m | $1.047b | GOOGL-USDC | $339.59 | -3.00% | -0.016% | +5.48% | 1h | 20x | $1,456 | $47,094 |
| xyz:metaMeta Platforms, Inc. | Stock Perp | Permissionless | $84.07m | +0.41% | $31.39m | $381.35m | $1.547b | META-USDC | $707.75 | -4.22% | +0.027% | +5.48% | 1h | 20x | $1,412 | $69,616 |
| xyz:crclCircle Internet Group, Inc. | Stock Perp | Permissionless | $76.64m | -7.94% | $55.63m | $532.84m | $1.305b | CRCL-USDC | $82.49 | -3.19% | +0.117% | +47.95% | 1h | 10x | $2,503 | $58,732 |
| xyz:dramRoundhill Memory ETF | ETF Perp | Permissionless | $72.69m | +10.92% | $52.93m | $591.38m | $1.646b | DRAM-USDC | $46.66 | -4.04% | +0.089% | +39.45% | 1h | 20x | $2,382 | $74,055 |
| xyz:tslaTesla, Inc. | Stock Perp | Permissionless | $72.08m | -30.58% | $158.06m | $585.93m | $1.004b | TSLA-USDC | $352.86 | -6.95% | -0.027% | +1.96% | 1h | 20x | $7,113 | $45,179 |
| xyz:intcIntel Corporation | Stock Perp | Permissionless | $62.99m | +0.89% | $55.96m | $425.12m | $1.25b | INTC-USDC | $89.84 | -5.29% | +0.128% | +48.89% | 1h | 10x | $2,518 | $56,235 |
| xyz:aaplApple Inc. | Stock Perp | Permissionless | $48.68m | +16.63% | $33.72m | $207.08m | $557.36m | AAPL-USDC | $342.28 | +0.05% | -0.018% | +5.48% | 1h | 20x | $1,517 | $25,081 |
| xyz:mstrStrategy Inc | Stock Perp | Permissionless | $45.92m | +14.31% | $26.54m | $156.35m | $504.38m | MSTR-USDC | $136.90 | -7.10% | +0.068% | +23.60% | 1h | 10x | $11,943 | $226,970 |
| xyz:smsnSamsung Electronics Co., Ltd. | Stock Perp | Permissionless | $37.94m | +0.06% | $17.12m | $283.39m | $1.011b | SMSN-USDC | $157.14 | -3.13% | +0.175% | +90.81% | 1h | 10x | $770.41 | $45,485 |
| xyz:nbisNebius Group N.V. | Stock Perp | Permissionless | $35.87m | -3.65% | $28.35m | $183.87m | $478.08m | NBIS-USD | $167.60 | -9.42% | +0.091% | +48.58% | 1h | 10x | $1,276 | $21,514 |
| xyz:cbrsCerebras Systems Inc. | Stock Perp | Permissionless | $34.94m | -10.62% | $12.6m | $198.32m | $520.02m | CBRS-USDC | $127.70 | -9.00% | +0.105% | +41.91% | 1h | 10x | $566.87 | $23,401 |
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