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trade[XYZ]
DEXOpen Interest
$3.801bKey Metrics
Volume (30d)$58.424b
7d$17.687b
24h$2.971b
All-time$606.961b
Turnover (30d)15.4x
Markets106
Reference Assets106
Asset Groups12
Share of DEX OI67.6%
Est. Fees (30d)$3.47m
24h$153,441
All-time$36.78m
Est. Annual$42.21m
Markets
| Market | Open Interest | Volume | Price | Funding | Est. Fees | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name | Asset Type | Access Model | Pair | Interval | ||||||||||||
| xyz:sp500S&P 500 Index | Equity Perp | Permissionless | $390.43m | +5.99% | $161.91m | $1.39b | $5.837b | SP500-USDC | $7,804 | -0.02% | -0.026% | -3.09% | 1h | 50x | $7,286 | $262,675 |
| xyz:skhxSK hynix Inc. | Stock Perp | Permissionless | $313.68m | +15.96% | $352.82m | $1.378b | $4.391b | SKHX-USDC | $1,109 | -4.82% | +0.077% | +5.48% | 1h | 10x | $15,877 | $197,590 |
| xyz:goldGold | Commodity Perp | Permissionless | $305.33m | -3.56% | $30.54m | $407.02m | $1.476b | GOLD-USDC | $4,162 | -0.25% | +0.022% | +5.48% | 1h | 25x | $13,743 | $664,133 |
| xyz:xyz100Nasdaq-100 Index | Equity Perp | Permissionless | $264.75m | +8.41% | $185.19m | $1.848b | $6.249b | XYZ100-USDC | $30,582 | -0.32% | +0.054% | +7.31% | 1h | 30x | $8,333 | $281,222 |
| xyz:brentoilCrude Oil (Brent) | Commodity Perp | Permissionless | $197.35m | -4.53% | $130.54m | $1.133b | $3.966b | BRENTOIL-USDC | $103.39 | +0.19% | -0.39% | -268% | 1h | 20x | $5,874 | $178,466 |
| xyz:googlAlphabet Inc. | Stock Perp | Permissionless | $182.24m | -0.23% | $80.18m | $325.84m | $875.96m | GOOGL-USDC | $354.04 | +0.17% | +0.027% | +5.48% | 1h | 20x | $3,608 | $39,418 |
| xyz:silverSilver | Commodity Perp | Permissionless | $143.45m | -19.42% | $99.23m | $911.79m | $3.196b | SILVER-USDC | $59.23 | -1.83% | +0.051% | +14.47% | 1h | 25x | $4,466 | $143,830 |
| xyz:skhySK hynix Inc. ADR | Stock Perp | Permissionless | $142.45m | +17.51% | $117.71m | $514.62m | $1.529b | SKHY-USDC | $157.41 | -2.85% | -0.069% | -18.84% | 1h | 10x | $5,297 | $68,807 |
| xyz:sndkSandisk Corporation | Stock Perp | Permissionless | $136.65m | -11.41% | $309.45m | $1.317b | $3.405b | SNDK-USDC | $1,476 | -0.61% | +0.037% | +5.48% | 1h | 10x | $13,925 | $153,217 |
| xyz:clCrude Oil (WTI) | Commodity Perp | Permissionless | $133.62m | +2.44% | $128.94m | $1.272b | $5.648b | CL-USDC | $93.64 | +1.37% | -0.241% | -140% | 1h | 20x | $5,802 | $254,154 |
| xyz:muMicron Technology, Inc. | Stock Perp | Permissionless | $130.25m | +17.71% | $169.88m | $677.55m | $2.481b | MU-USDC | $952.81 | -3.43% | +0.085% | +15.35% | 1h | 10x | $7,645 | $111,647 |
| xyz:spcxSpace Exploration Technologies Corp. | Stock Perp | Permissionless | $125.64m | +1.21% | $67.51m | $868.26m | $2.083b | SPCX-USDC | $157.11 | -3.99% | +0.077% | +16.90% | 1h | 20x | $3,038 | $93,744 |
| xyz:crclCircle Internet Group, Inc. | Stock Perp | Permissionless | $125.39m | -12.96% | $60.71m | $293.16m | $1.139b | CRCL-USDC | $84.40 | +0.59% | +0.139% | +18.81% | 1h | 10x | $2,732 | $51,238 |
| xyz:nvdaNVIDIA Corporation | Stock Perp | Permissionless | $109.09m | -15.63% | $169.44m | $715.89m | $1.813b | NVDA-USDC | $229.36 | +1.32% | +0.05% | +7.84% | 1h | 20x | $7,625 | $81,577 |
| xyz:metaMeta Platforms, Inc. | Stock Perp | Permissionless | $76.09m | +5.20% | $88.74m | $280.2m | $1.411b | META-USDC | $763.01 | +2.67% | +0.022% | +5.48% | 1h | 20x | $3,993 | $63,481 |
| xyz:dramRoundhill Memory ETF | ETF Perp | Permissionless | $73.09m | -6.39% | $91.46m | $468.98m | $1.427b | DRAM-USDC | $52.96 | -3.23% | -0.003% | +5.48% | 1h | 20x | $4,116 | $64,209 |
| xyz:intcIntel Corporation | Stock Perp | Permissionless | $59.87m | +13.57% | $64.43m | $316.1m | $1.028b | INTC-USDC | $103.28 | +1.66% | +0.067% | +5.48% | 1h | 10x | $2,899 | $46,278 |
| xyz:cbrsCerebras Systems Inc. | Stock Perp | Permissionless | $48.13m | -3.01% | $29.4m | $283.46m | $468.42m | CBRS-USDC | $149.32 | +1.70% | -0.01% | +29.01% | 1h | 10x | $1,323 | $21,079 |
| xyz:mstrStrategy Inc | Stock Perp | Permissionless | $47.65m | +3.50% | $14.61m | $102.04m | $415.56m | MSTR-USDC | $152.34 | -0.51% | +0.023% | +5.48% | 1h | 10x | $6,574 | $187,003 |
| xyz:tslaTesla, Inc. | Stock Perp | Permissionless | $39.65m | -3.00% | $24.41m | $165.56m | $542.52m | TSLA-USDC | $374.63 | -0.92% | +0.01% | +5.48% | 1h | 20x | $1,098 | $24,413 |
| xyz:aaplApple Inc. | Stock Perp | Permissionless | $37.87m | +5.82% | $45.14m | $125.05m | $475.71m | AAPL-USDC | $340.92 | +0.08% | -0.012% | +5.48% | 1h | 20x | $2,031 | $21,407 |
| xyz:gmeGameStop Corp. | Stock Perp | Permissionless | $37.47m | +2.44% | $6.83m | $51m | $78.87m | GME-USDC | $28.07 | +3.47% | +0.156% | +88.76% | 1h | 10x | $307.52 | $3,549 |
| xyz:soxlDirexion Daily Semiconductor Bull 3X ETF | ETF Perp | Permissionless | $34.42m | +27.71% | $76.69m | $358.9m | $439.6m | SOXL-USDC | $128.16 | -0.12% | -0.009% | +5.48% | 1h | 10x | $3,451 | $19,782 |
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