Hyperliquid HYPE perpetual market
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:
- Mark price
- $89.78
- Oracle price
- $89.79
- Current hourly funding rate
- 0.0013%
- 24h notional volume
- $133.63M
- Open interest (contracts)
- 20,359,161
Indicative public market data, not an executable quote. Values may change before an order is placed. Hyperliquid public API
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.