Hyperliquid HIP-3 Markets: What's Live (Stocks, Commodities, Pre-IPO, Indices)

Hyperliquid started as a crypto-native perps exchange, but by mid-2026 most of its largest markets by open interest were not crypto at all — they were gold, Tesla, the S&P 500 and synthetic perps on private companies like SpaceX. All of those exist because of HIP-3, the framework that lets independent builders deploy their own perpetual markets onto Hyperliquid's order book. This post is the catalog: a category-by-category map of what trades on Hyperliquid beyond the core book, and where to read more on each.

We keep this deliberately at the category level rather than printing an exact, dated list of every ticker. The HIP-3 market set is permissionless and grows continuously, so any specific list goes stale fast — the durable knowledge is which categories exist and how to pull the live set yourself, both of which are below. For the framework behind all of it, see What Is Hyperliquid HIP-3?; for the developer path to query these markets, see Hyperliquid HIP-3 API & Market Data.

Published June 28, 2026.

How to read this catalog

Three facts shape everything that follows. First, these markets are deployed by builders, not by Hyperliquid — each builder chooses the underlying, the oracle that prices it, and the risk limits, then stakes HYPE as a bond. Second, the markets are namespaced to their builder's perp dex and the coin names are case-sensitive (a Tesla market appears as something like 'xyz:TSLA', not 'TSLA'), so the same category can be deployed by more than one builder under different names. Third, the set is not fixed: new markets launch as builders fill demand, so treat the categories below as the stable map and resolve exact tickers from the live API rather than from any list you read once.

Commodities — the early winners

Commodities were the first non-crypto category to take off on HIP-3. Gold and silver markets drew hundreds of millions in open interest within months of launching — proof that there was real demand on a crypto venue for assets the exchange itself would never have prioritized. These behave like the TradFi-perp category generally: a synthetic perpetual that tracks the underlying's price and settles in stablecoin collateral, trading far longer hours than the metal's traditional session, anchored by the builder's oracle rather than by a deep on-venue spot book.

Equities — stocks via trade.xyz

Single-name equities are the largest HIP-3 category by open interest, and the dominant builder is trade.xyz, whose xyz dex lists names like Tesla, Nvidia, Apple and Amazon as 24/5 perpetuals. Going long gives you price exposure, not ownership — no shares, no dividends, no shareholder rights — and the market trades roughly 24 hours a day, five days a week, so you can react to news while the underlying stock market is closed. The trade-offs specific to equity perps (short price history since the dex launched, gap risk across closed sessions, oracle dependence) are covered in full in Trading Stocks & Indices on Hyperliquid, which is the deep dive for this category.

Indices — the S&P 500 and licensed products

Alongside single names, builders have deployed broad-market index perps — the S&P 500 most notably — through licensed index products. An index perp lets you express a view on a whole market rather than one company, with the same synthetic, stablecoin-settled, extended-hours structure as the equity perps. Because these track licensed benchmarks, the licensing and oracle methodology behind them matter as much as the headline name; the equities-and-indices guide treats them together with the single-name stocks.

Pre-IPO names — private companies before they list

The most distinctive HIP-3 category has no public price at all: pre-IPO perps, which track the implied valuation of private companies such as SpaceX, OpenAI and Anthropic. With no spot market underneath, the oracle is the only thing anchoring price to reality, which makes these the highest-variance markets in the catalog — and also the ones with the most interesting track record (Hyperliquid's SpaceX contract pinned the company's IPO valuation to within 1%). Start with What Are Pre-IPO Perps? for the category overview, then the company-specific deep dives — SpaceX Perps on Hyperliquid, OpenAI Perps on Hyperliquid and Anthropic Perps on Hyperliquid — and Where to Trade Pre-IPO Perps in 2026 for the venue comparison.

How the set keeps changing

There is no listing committee deciding what exists here. A qualifying builder stakes the HYPE bond, gets a few market slots for free, and bids in an auction for more — so the catalog expands whenever a builder sees demand the exchange hasn't served. That is the structural reason HIP-3 volume grew so fast, and the reason any static list is a snapshot rather than a registry. It also means more than one builder can list the 'same' asset under different namespaced names, which is why resolving tickers live matters.

One common point of confusion worth clearing up: deploying a HIP-3 market is not the same as a builder code. HIP-3 is about who created and runs a market; builder codes are about which app routed a given order and earns a small fee on it. The two get conflated constantly — Hyperliquid Builder Codes Explained keeps them straight.

How to query what's live yourself

Because the catalog moves, the reliable way to know what's deployed right now is to ask the chain. Hyperliquid's info endpoint has a perpDexs request that returns every perpetual dex on the venue with its metadata — name, deployer, fee recipient and per-asset limits — which is your discovery call for which builder markets exist. From there, meta and metaAndAssetCtxs (with the dex parameter set to that builder's name) return the asset universe and live state for each one. The full request bodies, the namespacing gotcha and what data does and doesn't exist are in Hyperliquid HIP-3 API & Market Data; Hyperliquid's official API docs remain the source of truth for the exact schema.

Where Signalview fits

Signalview (our product) is a consumer of these markets, not a builder of them. Our non-custodial AI agents trade a backtested score on Hyperliquid, and most of that coverage is the core book — BTC, ETH, SOL, HYPE and the liquid majors — where deep history makes a verifiable backtest meaningful. We also support selected HIP-3 markets where the data supports it (the trade.xyz equity perps, behind a feature flag), while being deliberately careful about markets too young or too thinly-anchored to backtest honestly, pre-IPO names among them. For how the agents themselves work, see What Are AI Trading Agents?.

Risk note: every market in this catalog is a leveraged perpetual future, and the builder-deployed ones add oracle and liquidity risk — anchored by a builder's price feed rather than a deep spot market, often with little history and wider gaps. You can lose your entire margin. Nothing here is investment advice, and the live market set should always be confirmed against Hyperliquid's own API.