Can you trade stocks on Hyperliquid?

Yes, as perpetual contracts. trade.xyz deploys stock, index, commodity and FX perps on Hyperliquid through HIP-3 under the dex name "xyz", covering markets such as SP500, XYZ100, TSLA, NVDA, GOLD and WTIOIL. They give price exposure only, not ownership of shares.

Do I get dividends on Hyperliquid stock perps?

No. trade.xyz says perpetual holders don't receive dividends directly; a dividend's effect shows up in pricing and funding instead. Stock splits are handled by settling positions and reopening the market on the new share basis.

Can I trade Hyperliquid stocks on the weekend?

The markets keep trading when stock exchanges are closed, but price moves are limited by discovery bounds of ±1/max leverage around a reference price (±5% for a 20x stock), which can re-anchor a set number of times until outside pricing resumes.

Can Americans trade stocks on trade.xyz?

No. trade.xyz's disclaimer says access is prohibited to United States persons and in the United States. ICE and trade.xyz announced on 29 October 2026 a plan for a US market, ICE[XYZ], subject to CFTC approval, with no launch date disclosed.

Does the Hyperliquid referral code work on trade.xyz?

Yes. trade.xyz markets run on Hyperliquid's engine and use Hyperliquid's referral system, and HIP-3 markets include the usual referral discount, so the 4% fee discount applies.

How to Trade Stocks on Hyperliquid (2026): trade.xyz Stock…

What “stocks on Hyperliquid” actually means

Hyperliquid itself doesn’t list stocks. Since HIP-3, outside teams can deploy their own perpetual markets on Hyperliquid’s trading engine (HyperCore) by staking 500,000 HYPE. The biggest of these teams is trade.xyz, which runs a HIP-3 dex called xyz with stocks, equity indices, commodities, currencies and pre-IPO markets. Read what HIP-3 is for the background.

What you trade is a perpetual contract: a leveraged contract that tracks a price and never expires. trade.xyz’s markets are linear contracts margined and settled in USDC. Orders, matching, funding, liquidations and auto-deleveraging are all handled by HyperCore; trade.xyz supplies the market definitions and price feeds.

You don’t own the stock. trade.xyz’s docs say perp holders don’t receive dividends directly, and its pre-IPO markets say plainly they are “not shares.” There are no voting rights and no claim on the company.

Who can use it

trade.xyz’s general disclaimer states that access is prohibited where restricted by its Terms of Use, “including to United States persons, in the United States, or in other restricted jurisdictions.” Hyperliquid’s own app terms restrict the US and Ontario too. See is Hyperliquid available in the US. We don’t advise on ways around these restrictions.

On 29 October 2026, Intercontinental Exchange (ICE, owner of the New York Stock Exchange) and trade.xyz announced plans for a separate US market, ICE[XYZ], with its own exchange and clearing built on Hyperliquid. It is subject to CFTC approval; no launch date was disclosed. Until then, nothing changes for US residents.

What you can trade

A selection from trade.xyz’s specification index (4 Nov 2026), with each market’s maximum leverage:

Market	What it tracks	Max leverage	Default margin mode
SP500	S&P 500 Index	50x	Cross
XYZ100	XYZ U.S. 100 Index (100 large non-financial US companies)	30x	Cross
TSLA, NVDA, AAPL, MSFT, META, AMZN, GOOGL	Single US stocks	20x	Cross
MU, INTC, CRCL	Single US stocks	10x	Cross
PLTR, AMD, COIN, HOOD, NFLX	Single US stocks	10x	Isolated
SPCX	SpaceX Class A common stock	20x	Cross
GOLD, SILVER	Metals	25x	Cross
WTIOIL, BRENTOIL	Crude oil	20x	Cross
EUR, JPY, GBP	Currencies	50x	Isolated

There are also Japanese, Korean, Hong Kong, Chinese and Indian markets. Live prices and volume are on our markets page.

Pre-IPO markets. trade.xyz also runs pre-IPO perpetuals, which reference a private company’s expected public share price and convert to normal stock perps after listing (SpaceX’s market has already converted). Another HIP-3 dex, io, lists pre-IPO markets such as ANTH and OAI (Hyperliquid API, 4 Nov 2026). These are among the riskiest markets on Hyperliquid: before listing there’s no public price to anchor them, and trade.xyz’s own risk disclosure warns prices may differ materially from the eventual IPO price.

Hours, weekends and price bands

trade.xyz markets trade around the clock, but outside prices only exist during certain sessions:

US single stocks: 24/5, Sunday 8:05 PM ET to Friday 8:00 PM ET (pre-market, regular, post-market and overnight via Blue Ocean ATS).
SP500 and XYZ100: Sunday 6:00 PM ET to Friday 5:00 PM ET, with a daily 5–6 PM ET maintenance window Monday to Thursday and futures holiday closures.
Oil, metals: roughly Sunday 6 PM ET to Friday 5 PM ET (Brent to 6 PM).

When outside prices stop (weekends, holidays), trade.xyz becomes the main place price is discovered. To keep that orderly it uses discovery bounds: the mark price can move only ±(1 ÷ max leverage) around a reference price. For a 20x market that’s ±5%.

trade.xyz’s WTIOIL example, starting from a $100 Friday close:

Level	Reference	Tradeable range
0	$100.00	$95.00 – $105.00
1 (after re-anchoring up)	$105.00	$99.75 – $110.25
2 (hard cap)	$110.25	$104.74 – $115.76

When the price reaches 90% of the way to a bound, the band re-anchors. Each market has a limited number of re-anchors (shown in the spec index), after which the bound is a hard cap until outside pricing resumes. If your liquidation price is outside the active bounds, trade.xyz says your position can’t be liquidated while those bounds are in effect. Weekend gaps are real risk. When outside markets reopen, the reference price snaps back to the live outside price.

Fees

Standard fees on HIP-3 markets are 2x Hyperliquid’s core perp fees, split 50/50 between Hyperliquid and trade.xyz. At the entry tier that’s 0.090% taker and 0.030% maker. A $1,000 market order costs $0.90.

Some markets run in growth mode, where all-in fees are at least 90% lower (0.0090% taker and 0.0030% maker at tier 0). Crypto-linked products and gold are not eligible. Your Hyperliquid fee tier, HYPE staking discount and referral discount all apply. Model it in the fee calculator.

How to start

Set up Hyperliquid. Create an account and deposit USDC; see how to start trading and deposit USDC.
Set the referral code first. trade.xyz uses Hyperliquid’s referral system, so one code covers both. See the referral code page.
Open a trade.xyz market. trade.xyz offers its own non-custodial interface; its docs say it is not the only way to reach the markets. Check you’re on the real domain via our official links.
Check margin mode and account mode. Many single stocks default to isolated. Hyperliquid’s docs note that in standard account mode, cross margin on a HIP-3 dex only shares collateral within that dex; in unified account mode, cross positions using the same collateral share margin across dexes.
Start small, with low leverage and a stop loss. The same order types apply; see order types.

Corporate actions

Dividends: no direct payment; reflected through pricing and funding.
Splits and reverse splits: trade.xyz settles all open positions, realizes PnL, cancels orders, and reopens the market on the post-split basis. You must open new positions afterwards.
Mergers and other events: assessed one by one; a market may be settled, reopened on new terms, or closed. trade.xyz publishes notices in advance.

Common mistakes

Thinking you own shares. You hold a USDC-settled contract.
High leverage over a weekend. Price can drift to the edge of the bands and gap when markets reopen.
Ignoring the 2x fee level on non-growth-mode markets.
Assuming cross margin is shared with your crypto positions. It depends on your account mode.

If something goes wrong

Position settled unexpectedly: check trade.xyz’s corporate actions notices; splits trigger settlement.
Price “stuck” at a level on the weekend: it may be at a discovery-bound hard cap.
Liquidated: see leverage and margin for how liquidation works on HyperCore.

How to trade stocks on Hyperliquid