How to trade stocks on Hyperliquid
Hyperliquid isn't only crypto. Through HIP-3, independent builders run perpetual futures on stocks, indices and commodities on Hyperliquid's order book, so you can trade them from the same account, 24/7.
What HIP-3 is
HIP-3 lets a builder (a "deployer") launch its own perp markets on Hyperliquid by staking 500,000 HYPE. The deployer chooses the markets, provides the price oracle and sets leverage limits. The trades still settle on Hyperliquid's own matching engine, so you use them in the normal app.
The biggest deployer is trade.xyz. Its markets have included:
| Type | Examples |
|---|---|
| U.S. stocks | NVDA, TSLA, AAPL, MSFT, GOOGL, AMZN |
| Indices | S&P 500 (licensed from S&P Dow Jones Indices, March 2026), XYZ100 (Nasdaq-style) |
| Commodities | Gold, silver |
| Pre-IPO | Price exposure to companies before they list (from May 2026) |
Market lists change. Check the app for what is live today.
How to trade a stock perp
- Set up your account. Connect a wallet or email through the HYQUID link and deposit USDC. Full steps: how to use Hyperliquid.
- Find the market. On the Trade page, open the market list and search the ticker (for example NVDA). Builder-deployed markets are labelled with their deployer, so check you have the one you want.
- Check the market details in the order panel: fee, maximum leverage, margin mode and which collateral it uses. These are set per market and can differ from crypto perps.
- Use low leverage and isolated margin. Some HIP-3 markets only support isolated margin anyway.
- Place the order with a stop loss, exactly as you would for BTC. See order types.
Fees and growth mode
According to trade.xyz's fee docs, the standard fee on HIP-3 markets is 2x the fee on Hyperliquid's regular perps (base tier: 0.090% taker, 0.030% maker), split 50/50 between Hyperliquid and the deployer. Many stock markets, though, run in growth mode, which cuts the all-in fee by at least 90%. Crypto-linked markets and gold are not eligible for growth mode.
Your referral discount, volume tier and HYPE staking discount still apply. Hyperliquid has said HIP-3 fees will rise for some markets as growth mode is phased down, so always check the fee shown before you trade.
What happens when the stock market is closed?
The perps trade 24/7, but the underlying stock exchange doesn't. Outside U.S. market hours the price comes from the deployer's oracle method, and when the real market reopens the price can gap. A position that looked safe on Friday night can be liquidated at Monday's open. Weekends and earnings announcements are the riskiest times.
Risks to understand
- Oracle risk: each market depends on its deployer's price feed.
- Gaps: after-hours and weekend prices can jump at the open.
- Concentration: most HIP-3 volume sits with one deployer.
- Changing fees: growth-mode discounts are temporary.
- Regulation: synthetic stock perps sit in a grey area that varies by country.
FAQ
Can you trade stocks on Hyperliquid?
Yes, as perpetual futures through HIP-3 markets such as those run by trade.xyz, including NVDA, TSLA and the S&P 500. You trade the price, you don't own shares.
Do Hyperliquid stock perps trade 24/7?
Yes, but the real stock market doesn't. Outside U.S. hours prices come from the deployer's oracle and can gap when the market reopens.
What are the fees for stocks on Hyperliquid?
Standard HIP-3 fees are 2x regular perps, but many stock markets are in growth mode with fees cut by at least 90%. Check the fee shown for each market.
Do I get dividends?
No. Stock perps track the price only. There are no dividends or shareholder rights.
Does the referral code work on HIP-3 markets?
Yes. HIP-3 markets use the usual fee discounts, including referral, volume tier and HYPE staking discounts.