Hyperliquid HYPE perpetual market

Published by Perpex · Celebit Ltd

The HYPE perpetual is a derivative tied to the HYPE asset, not a spot token purchase. Hyperliquid documentation identifies HYPE-USD among contracts whose oracle uses a USDC-denominated spot source. The current market context below comes from the public API.

HYPE perpetual

Data fetched: 16 Oct 2026, 05:44:43 UTC

Mark price: $80.77
Oracle price: $80.77
Current hourly funding rate: 0.0013%
24h notional volume: $507.12M
Open interest (contracts): 19,954,647

Indicative public market data, not an executable quote. Values may change before an order is placed. Hyperliquid public API

Mark / oracle difference: -0.0056%

Current-rate example: $1,000.00 × 0.0013% ≈ $0.0125 per hour.

Positive: longs pay; negative: longs receive. The example uses oracle-valued notional and excludes fees and price changes. The rate may change before settlement; this is not a forecast.

Hyperliquid funding rates: what traders should check

Understand this market’s reference price

The oracle and mark can diverge, and neither equals a guaranteed fill. The HYPE contract’s oracle construction differs from BTC and ETH in the Hyperliquid specifications; read the current venue rules and order book before sizing an order.

Liquidity and funding change

The 24-hour notional volume summarizes past activity; it does not guarantee depth for your order. Funding can change every interval, and a thin order book or sharp move can create slippage and liquidation risk.

Keep copied exposure bounded

A copy relationship may replicate a HYPE position at a different price or may skip it because of venue, collateral or configured risk limits. Review actual allocation, fees and account mode before starting or resuming copying.

Frequently asked questions

Is HYPE perpetual the same as holding HYPE spot?

No. A perpetual is a derivative with funding and margin risk.

Does 24-hour volume show available order-book depth?

No. It describes past traded notional; inspect the current book and order preview for execution conditions.