Trade xyz
Non-custodial interface and HIP-3 deployer on Hyperliquid with perps on stocks, indices, commodities and FX, plus HIP-4 event contracts.
Security record: 1 incident · 1 repaid in full- Deploys perps on Hyperliquid via HIP-3: stocks from the US, Korea, Japan, Hong Kong and China, indices, commodities, FX and pre-IPO
- Events: fully collateralized HIP-4 outcome contracts with no leverage or liquidations
- trade.xyz is a non-custodial interface and does not hold user assets
- Leverage set per market, up to 50x on the S&P 500 perp
- Fees are 2x Hyperliquid's base perp rate, cut by 90% or more on growth mode markets
Seven criteria on a scale of 10, the fee and market numbers computed from the data. Compare it with other perp DEXs only. How we score
- Taker
- 0.009%
- Maker
- 0.003%
- Volume a day
- $2.2B
- Open interest
- $4.1B
- Rewards 2.0
- No token, points or competitions; only Hyperliquid's fee discounts
- Taker fee 8.8
- No taker fee is a 10, 0.07% or more is a 1. A venue that earns from the spread tops out at 7.
- Volume 9.0
- Average a day: $5M is a 1, $5B is a 10, on a log scale. Volume past ten times open interest does not count.
- Safety 4.0
- Live since Oct 2025, no audit of its own; covered SKHYNIX bad-print losses
- Open interest 10.0
- $1M is a 1, $1B is a 10, on a log scale. Harder to farm than volume.
- Ease 10.0
- Gas-free trading on Hyperliquid, 115 stock, index, FX and commodity perps
- Access 8.0
- No KYC or invite; closed to US, Canada, UK and sanctioned places
- Open trade.xyz, a non-custodial interface for Hyperliquid markets
- Connect your wallet and fund your Hyperliquid account
- Pick a perp market and check its leverage, hours and price bounds
- Or trade an Events contract, which has no leverage or liquidation
Markets keep trading while the referenced exchange is closed, so prices can gap when it reopens. Under cross margin, losses on one position can liquidate others, and auto-deleveraging can close positions. Oracle and reference data can be wrong or delayed.
1 incident · 1 repaid in full
Past incidents 1
SK hynix perp mark price drops 19% on pre-market print. At 23:01 UTC the xyz:SKHYNIX mark price fell from $1,127.90 to $917.25 after a thin NextTrade pre-market trade in Korea fed through data providers, liquidating about 960 accounts. Trade.xyz said its oracle worked as designed but chose to cover eligible liquidation losses as a one-time discretionary decision. Trade.xyz refunded eligible liquidations at a $1,115.5 reference price (automatic under $10,000, larger by application) and confirmed payouts on 1 August.
Partly own faultUsers lost $57M to $80M in liquidationsRepaid in full
Sources: x.com, x.com, galaxy.com, cointelegraph.com
From the project’s statements and security coverage. Own fault means the project’s code, servers or keys; third party means a vendor, registrar, oracle or issuer it relies on.
