Hyperliquid data
Hyperliquid HIP-3 markets
Data as of Refreshed when this page is rebuilt
Short answer
HIP-3 lets builders deploy their own perpetual futures markets on Hyperliquid, each on a separate "builder dex" with its own oracle, margining and collateral. As of 2026-10-29 21:33 UTC, 4 builder dexes list 166 live markets with $4.1B in open interest, margined in USDC. The largest is XYZ (xyz), with 120 markets.
Builder dexes
| Dex | Name | Collateral | Live markets | Open interest | 24h volume |
|---|---|---|---|---|---|
| xyz | XYZ | USDC | 120 | $4B | $4.8B |
| io | EntropyIO | USDC | 12 | $84.9M | $55.9M |
| para | Paragon | USDC | 33 | $15M | $5M |
| mkts | Markets By Kinetiq | USDC | 1 | $163.1K | $337K |
Largest HIP-3 markets
The 25 builder-dex markets with the most open interest.
| # | Market | Dex | Mark price | Funding / 1h | Open interest | 24h volume | Max leverage |
|---|---|---|---|---|---|---|---|
| 1 | SP500 | xyz | 7,666 | −0.0022% | $403.7M | $271M | 50× |
| 2 | GOLD | xyz | 4,018 | −0.0005% | $315.5M | $33.6M | 25× |
| 3 | GOOGL | xyz | 281.73 | +0.0024% | $295.6M | $403.7M | 20× |
| 4 | XYZ100 | xyz | 29,015 | −0.0051% | $277.3M | $317M | 30× |
| 5 | SKHX | xyz | 1,093 | −0.0672% | $268.2M | $656M | 10× |
| 6 | CL | xyz | 102.49 | −0.0127% | $236.7M | $303.6M | 20× |
| 7 | BRENTOIL | xyz | 111.39 | −0.0030% | $218.1M | $130.1M | 20× |
| 8 | SILVER | xyz | 52.17 | +0.0006% | $168.1M | $123.8M | 25× |
| 9 | SPCX | xyz | 141.74 | +0.0014% | $162.2M | $100.1M | 20× |
| 10 | SKHY | xyz | 154.71 | +0.0006% | $124M | $167M | 10× |
| 11 | SNDK | xyz | 1,300 | +0.0013% | $119M | $242.9M | 10× |
| 12 | META | xyz | 619.53 | +0.0015% | $116.9M | $63M | 20× |
| 13 | MU | xyz | 904.83 | +0.0006% | $89.2M | $210.3M | 10× |
| 14 | CRCL | xyz | 77.09 | +0.0068% | $85.9M | $72.3M | 10× |
| 15 | AAPL | xyz | 350.47 | −0.0007% | $79M | $32.5M | 20× |
| 16 | DRAM | xyz | 49.94 | +0.0018% | $78.8M | $155.4M | 20× |
| 17 | NVDA | xyz | 210.63 | +0.0006% | $74.4M | $69.2M | 20× |
| 18 | INTC | xyz | 74.20 | +0.0007% | $64.6M | $180.7M | 10× |
| 19 | ANTH | io | 1,813 | +0.0011% | $54.2M | $13M | 15× |
| 20 | SMSN | xyz | 166.14 | −0.0622% | $46.2M | $79.7M | 10× |
| 21 | TSLA | xyz | 397.54 | +0.0006% | $43.4M | $36.7M | 20× |
| 22 | NBIS | xyz | 163.63 | +0.0013% | $39.5M | $36.6M | 10× |
| 23 | JPY | xyz | 157.67 | 0.0000% | $36.8M | $4.5M | 50× |
| 24 | CXMT | xyz | 6.19 | −0.0321% | $36M | $22.3M | 10× |
| 25 | MSTR | xyz | 138.00 | +0.0018% | $35.3M | $14.5M | 10× |
Frequently asked questions
What is a HIP-3 market?
A perpetual futures market deployed by a builder rather than by Hyperliquid itself. It trades on Hyperliquid's order book engine, but the deployer sets the oracle, contract specifications and collateral token of its dex.
Why do some HIP-3 markets track stocks and commodities?
Builders can list any asset they can price with an oracle, so several dexes list perpetuals on equities, indices and commodities next to crypto.
Do HIP-3 markets share margin with Hyperliquid's main perps?
No. Each builder dex has its own margining, and some use a collateral token other than USDC, so a position on a builder dex draws on that dex's collateral.
Can I trade HIP-3 markets in Ninja Terminal?
Yes. Ninja Terminal lists Hyperliquid's HIP-3 markets next to the main perpetuals, with their own tab in market search, and reads positions across every builder dex.
Source: Hyperliquid's public info API, read through Ninja Terminal's market data service. Rates change every hour; check the venue before you trade. Nothing on this page is investment advice.
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