OCT 25, 2026
3 MIN READ
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HYPE-PERP is a perpetual future on the token of Hyperliquid, a layer 1 blockchain built around an on-chain perpetuals order book. It was the #4 market on Aevo by 24-hour volume at the 5 October 2026 snapshot, and it trades in the same cross-margin account as BTC, ETH and every other Aevo market.
Snapshot from 25 October 2026. These figures refresh from the Aevo public API when it is reachable from this page. Funding is shown per one-hour funding period.
Index price, last 7 days
Hourly index prices over the 7 days to 25 October 2026. The chart refreshes from the Aevo public API when it is reachable from this page.
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Hyperliquid in brief
HYPE launched in November 2024 with a large airdrop to Hyperliquid users.
Hyperliquid runs its own layer 1 with a fully on-chain order book for perps and spot.
Aevo also lists HYPE options, and Easy Mode covers HYPE alongside BTC and ETH.
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HYPE-PERP at a glance
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HYPE options on Aevo
Options on Aevo are European-style, cash-settled in USDC and expire at 08:00 UTC. A put/call ratio above 1 means more put open interest than call open interest.
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What moves the price of Hyperliquid?
Exchange activity. Hyperliquid volume and fee revenue feed directly into how traders value the token.
Buybacks. Protocol fees fund buybacks of HYPE, so trading activity matters to supply.
Competition among perp DEXs. Market share shifts between venues move sentiment.
Market beta. HYPE trades with the wider crypto market, usually with a larger swing.
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HYPE-PERP liquidation price calculator
The calculator starts at 5x. Set the maintenance margin to the figure on the HYPE ticket.
Where does a leveraged position get liquidated?
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Risks of a leveraged HYPE position
Leverage. Altcoin and equity perps can move further in a day than BTC, so the same leverage sits closer to liquidation.
Funding. Crowded positions pay funding every hour the imbalance lasts.
Cross-margin spillover. A loss here draws on collateral that backs your other positions.
Thin books. At $103.5K of 24-hour volume, large market orders can move the price.
Ready to trade Hyperliquid?
HYPE-PERP in the same account as your other positions.
Trade HYPE-PERP ↗
WHERE TO GO NEXT
Browse every crypto perpetual market on Aevo with live mark and index prices, such as the Bitcoin perps market. To trade perps with an options hedge built in, see the perps dex. New to funding and liquidation? Start with how to trade perpetual futures.
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Frequently asked questions
What is HYPE-PERP on Aevo?
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How busy is the HYPE market on Aevo?
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How often is funding paid on HYPE-PERP?
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Can I use PERPS+ on HYPE?
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Do I need HYPE to trade HYPE-PERP?
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Open the HYPE perp
USDC settlement, one cross-margin account.
Trade HYPE-PERP ↗
MARKET
HYPE-PERP
VOLUME RANK
#4 OF 102
COLLATERAL
USDC AND USDT
HOURS
24 / 7 / 365
MARKETS / HYPERLIQUID / HYPE-PERP
Market pages are for information only and aren’t financial advice. Perpetual futures are leveraged and you can lose your full position. Live figures come from the Aevo public API and can change.