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trade[XYZ]
DEXOpen Interest
$3.943bKey Metrics
Volume (30d)$73.725b
7d$24.362b
24h$3.128b
All-time$648.982b
Turnover (30d)18.7x
Markets109
Reference Assets109
Asset Groups12
Share of DEX OI66.3%
Est. Fees (30d)$4.16m
24h$161,022
All-time$39.06m
Est. Annual$50.66m
Markets
| Market | Open Interest | Volume | Price | Funding | Est. Fees | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name | Asset Type | Access Model | Pair | Interval | ||||||||||||
| xyz:sp500S&P 500 Index | Equity Perp | Permissionless | $409.65m | +1.87% | $232.55m | $2.06b | $6.665b | SP500-USDC | $7,722 | +0.52% | -0.019% | +4.75% | 1h | 50x | $10,465 | $299,933 |
| xyz:goldGold | Commodity Perp | Permissionless | $324.43m | -0.87% | $35.56m | $412.31m | $1.47b | GOLD-USDC | $4,038 | +0.62% | +0.035% | +5.48% | 1h | 25x | $16,001 | $661,359 |
| xyz:skhxSK hynix Inc. | Stock Perp | Permissionless | $296m | -6.83% | $445.34m | $2.434b | $6.548b | SKHX-USDC | $1,096 | +7.02% | -0.008% | +5.48% | 1h | 10x | $20,040 | $294,673 |
| xyz:xyz100Nasdaq-100 Index | Equity Perp | Permissionless | $290.34m | +1.28% | $183.74m | $1.88b | $7.097b | XYZ100-USDC | $29,740 | +1.62% | +0.035% | +5.48% | 1h | 30x | $8,268 | $319,373 |
| xyz:clCrude Oil (WTI) | Commodity Perp | Permissionless | $216.58m | -3.74% | $228.84m | $1.77b | $5.213b | CL-USDC | $101.37 | +0.73% | -0.03% | +3.09% | 1h | 20x | $10,298 | $234,567 |
| xyz:brentoilCrude Oil (Brent) | Commodity Perp | Permissionless | $209.27m | +0.78% | $108.4m | $1.063b | $3.971b | BRENTOIL-USDC | $110.88 | +1.20% | -0.05% | -6.43% | 1h | 20x | $4,878 | $178,698 |
| xyz:silverSilver | Commodity Perp | Permissionless | $168.03m | +0.09% | $70.26m | $678.35m | $3.251b | SILVER-USDC | $53.89 | +0.78% | +0.037% | +5.48% | 1h | 25x | $3,162 | $146,273 |
| xyz:spcxSpace Exploration Technologies Corp. | Stock Perp | Permissionless | $156.31m | +4.96% | $81.83m | $1.246b | $3.088b | SPCX-USDC | $149.77 | +1.50% | +0.061% | +16.32% | 1h | 20x | $3,682 | $138,945 |
| xyz:muMicron Technology, Inc. | Stock Perp | Permissionless | $153.63m | +2.55% | $129.11m | $892.24m | $3.118b | MU-USDC | $963.59 | +5.44% | -0.016% | +5.48% | 1h | 10x | $5,810 | $140,291 |
| xyz:skhySK hynix Inc. ADR | Stock Perp | Permissionless | $130.29m | -9.60% | $141.69m | $767.89m | $2.227b | SKHY-USDC | $154.88 | +5.92% | +<0.001% | +5.48% | 1h | 10x | $6,376 | $100,194 |
| xyz:googlAlphabet Inc. | Stock Perp | Permissionless | $128.78m | +12.76% | $55.18m | $392.01m | $1.268b | GOOGL-USDC | $324.71 | +1.93% | +0.068% | +21.28% | 1h | 20x | $2,483 | $57,043 |
| xyz:sndkSandisk Corporation | Stock Perp | Permissionless | $126.95m | -9.07% | $163.88m | $1.302b | $4.081b | SNDK-USDC | $1,357 | +7.11% | +0.041% | +5.48% | 1h | 10x | $7,375 | $183,659 |
| xyz:metaMeta Platforms, Inc. | Stock Perp | Permissionless | $113.82m | +9.79% | $43.59m | $738.73m | $1.552b | META-USDC | $621.03 | -1.90% | +0.069% | +19.81% | 1h | 20x | $1,962 | $69,830 |
| xyz:dramRoundhill Memory ETF | ETF Perp | Permissionless | $82.04m | +10.57% | $148.44m | $939.23m | $2.309b | DRAM-USDC | $52.31 | +6.09% | +0.007% | +10.38% | 1h | 20x | $6,680 | $103,892 |
| xyz:nvdaNVIDIA Corporation | Stock Perp | Permissionless | $79m | -1.96% | $63.79m | $678.25m | $2.715b | NVDA-USDC | $218.42 | +1.13% | 0% | +5.48% | 1h | 20x | $2,870 | $122,179 |
| xyz:aaplApple Inc. | Stock Perp | Permissionless | $75.54m | -16.92% | $38.65m | $230.3m | $592.94m | AAPL-USDC | $346.46 | +1.01% | +0.036% | +5.48% | 1h | 20x | $1,739 | $26,682 |
| xyz:intcIntel Corporation | Stock Perp | Permissionless | $69.74m | -1.91% | $42.64m | $339.92m | $1.237b | INTC-USDC | $94.88 | +4.94% | +0.036% | +5.48% | 1h | 10x | $1,919 | $55,677 |
| xyz:crclCircle Internet Group, Inc. | Stock Perp | Permissionless | $65.93m | -11.43% | $56.9m | $325.97m | $1.181b | CRCL-USDC | $81.20 | +1.79% | +0.026% | +5.48% | 1h | 10x | $2,560 | $53,153 |
| xyz:smsnSamsung Electronics Co., Ltd. | Stock Perp | Permissionless | $48.02m | +0.31% | $55.81m | $348.69m | $1.168b | SMSN-USDC | $179.32 | +6.65% | +0.09% | +18.34% | 1h | 10x | $2,511 | $52,562 |
| xyz:tslaTesla, Inc. | Stock Perp | Permissionless | $45.21m | -3.55% | $61.75m | $489.59m | $1.395b | TSLA-USDC | $407.96 | +3.95% | -0.008% | +5.48% | 1h | 20x | $2,779 | $62,780 |
| xyz:nbisNebius Group N.V. | Stock Perp | Permissionless | $44.73m | +7.81% | $28.33m | $250.19m | $572.61m | NBIS-USD | $172.70 | +11.81% | -0.029% | +5.48% | 1h | 10x | $1,275 | $25,768 |
| xyz:cxmtChangXin Memory Technologies, Inc. | Stock Perp | Permissionless | $38.57m | +5.52% | $24.74m | $143.97m | $376.4m | CXMT-USDC | $6.60 | -0.14% | +0.006% | +80.61% | 1h | 10x | $1,113 | $16,938 |
| xyz:mstrStrategy Inc | Stock Perp | Permissionless | $36.92m | +4.89% | $8.97m | $130.09m | $454.2m | MSTR-USDC | $142.10 | +1.54% | +0.066% | +8.67% | 1h | 10x | $4,037 | $204,388 |
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