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trade[XYZ]
DEXOpen Interest
$3.978bKey Metrics
Volume (30d)$73.552b
7d$24.189b
24h$2.955b
All-time$648.809b
Turnover (30d)18.5x
Markets109
Reference Assets109
Asset Groups12
Share of DEX OI66.6%
Est. Fees (30d)$4.16m
24h$152,614
All-time$39.06m
Est. Annual$50.56m
Markets
| Market | Open Interest | Volume | Price | Funding | Est. Fees | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name | Asset Type | Access Model | Pair | Interval | ||||||||||||
| xyz:sp500S&P 500 Index | Equity Perp | Permissionless | $412.41m | +4.72% | $236.55m | $2.064b | $6.669b | SP500-USDC | $7,720 | +0.39% | -0.029% | -0.05% | 1h | 50x | $10,645 | $300,113 |
| xyz:goldGold | Commodity Perp | Permissionless | $326.91m | -0.48% | $34.21m | $410.97m | $1.468b | GOLD-USDC | $4,054 | +0.91% | +0.033% | +5.48% | 1h | 25x | $15,396 | $660,753 |
| xyz:skhxSK hynix Inc. | Stock Perp | Permissionless | $302.15m | -7.38% | $384.49m | $2.373b | $6.487b | SKHX-USDC | $1,092 | +4.87% | -0.108% | -3.69% | 1h | 10x | $17,302 | $291,935 |
| xyz:xyz100Nasdaq-100 Index | Equity Perp | Permissionless | $289.97m | +0.32% | $180.92m | $1.878b | $7.094b | XYZ100-USDC | $29,729 | +1.18% | +0.042% | +5.48% | 1h | 30x | $8,141 | $319,245 |
| xyz:clCrude Oil (WTI) | Commodity Perp | Permissionless | $223.67m | -1.55% | $220.48m | $1.761b | $5.204b | CL-USDC | $101.07 | +0.16% | -0.02% | +2.84% | 1h | 20x | $9,922 | $234,191 |
| xyz:brentoilCrude Oil (Brent) | Commodity Perp | Permissionless | $210.02m | +0.46% | $103.76m | $1.059b | $3.966b | BRENTOIL-USDC | $110.88 | +0.98% | -0.041% | -3.67% | 1h | 20x | $4,669 | $178,489 |
| xyz:silverSilver | Commodity Perp | Permissionless | $169.98m | -0.12% | $70.04m | $678.12m | $3.25b | SILVER-USDC | $54.29 | +0.26% | +0.029% | +5.48% | 1h | 25x | $3,152 | $146,263 |
| xyz:spcxSpace Exploration Technologies Corp. | Stock Perp | Permissionless | $155.17m | +4.12% | $83.39m | $1.248b | $3.089b | SPCX-USDC | $149.40 | +1.09% | +0.044% | +14.77% | 1h | 20x | $3,753 | $139,015 |
| xyz:muMicron Technology, Inc. | Stock Perp | Permissionless | $152.27m | +0.12% | $115.85m | $878.99m | $3.104b | MU-USDC | $958.06 | +3.87% | -0.012% | +5.48% | 1h | 10x | $5,213 | $139,694 |
| xyz:skhySK hynix Inc. ADR | Stock Perp | Permissionless | $140.95m | -4.65% | $121.62m | $747.82m | $2.206b | SKHY-USDC | $154.85 | +4.42% | -0.042% | +3.29% | 1h | 10x | $5,473 | $99,291 |
| xyz:sndkSandisk Corporation | Stock Perp | Permissionless | $127.16m | -8.04% | $160.88m | $1.299b | $4.078b | SNDK-USDC | $1,339 | +4.01% | -0.004% | +5.48% | 1h | 10x | $7,240 | $183,524 |
| xyz:googlAlphabet Inc. | Stock Perp | Permissionless | $124.57m | +11.07% | $48.61m | $385.44m | $1.261b | GOOGL-USDC | $325.60 | +2.21% | +0.061% | +5.48% | 1h | 20x | $2,187 | $56,747 |
| xyz:metaMeta Platforms, Inc. | Stock Perp | Permissionless | $112.91m | +9.20% | $42.42m | $737.55m | $1.551b | META-USDC | $620.28 | -2.07% | +0.053% | +13.79% | 1h | 20x | $1,909 | $69,778 |
| xyz:aaplApple Inc. | Stock Perp | Permissionless | $87.32m | -3.43% | $31.04m | $222.69m | $585.33m | AAPL-USDC | $346.44 | +0.96% | +0.053% | +5.48% | 1h | 20x | $1,397 | $26,340 |
| xyz:dramRoundhill Memory ETF | ETF Perp | Permissionless | $83.04m | +6.56% | $140.46m | $931.25m | $2.301b | DRAM-USDC | $52.27 | +4.89% | +0.021% | +36.88% | 1h | 20x | $6,321 | $103,533 |
| xyz:nvdaNVIDIA Corporation | Stock Perp | Permissionless | $78.77m | -2.14% | $61.07m | $675.54m | $2.712b | NVDA-USDC | $218.29 | +0.64% | +0.018% | +5.48% | 1h | 20x | $2,748 | $122,057 |
| xyz:intcIntel Corporation | Stock Perp | Permissionless | $71.32m | -1.13% | $38.74m | $336.02m | $1.233b | INTC-USDC | $94.74 | +3.24% | -0.016% | +5.48% | 1h | 10x | $1,743 | $55,502 |
| xyz:crclCircle Internet Group, Inc. | Stock Perp | Permissionless | $66.31m | -11.89% | $57.38m | $326.46m | $1.182b | CRCL-USDC | $81.19 | +1.02% | +0.049% | +5.48% | 1h | 10x | $2,582 | $53,175 |
| xyz:smsnSamsung Electronics Co., Ltd. | Stock Perp | Permissionless | $50.32m | +2.45% | $52.88m | $345.76m | $1.165b | SMSN-USDC | $181.39 | +6.57% | +0.245% | +36.94% | 1h | 10x | $2,380 | $52,431 |
| xyz:nbisNebius Group N.V. | Stock Perp | Permissionless | $45.6m | +8.23% | $28.37m | $250.23m | $572.65m | NBIS-USD | $172.64 | +9.97% | -0.006% | +5.48% | 1h | 10x | $1,277 | $25,769 |
| xyz:tslaTesla, Inc. | Stock Perp | Permissionless | $44.91m | -4.67% | $61.48m | $489.32m | $1.395b | TSLA-USDC | $405.97 | +3.06% | -0.01% | +5.48% | 1h | 20x | $2,766 | $62,768 |
| xyz:cxmtChangXin Memory Technologies, Inc. | Stock Perp | Permissionless | $39.31m | +7.20% | $20.76m | $139.99m | $372.42m | CXMT-USDC | $6.67 | +1.21% | +0.71% | +201% | 1h | 10x | $934.40 | $16,759 |
| xyz:mstrStrategy Inc | Stock Perp | Permissionless | $36.67m | +2.91% | $8.92m | $130.04m | $454.15m | MSTR-USDC | $141.51 | 0% | +0.023% | +13.02% | 1h | 10x | $4,015 | $204,366 |
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