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CL Perp on Hyperliquid (HIP-3)

CL perpetual futures on Hyperliquid's HIP-3 dexes (Oil, gold & commodities): live mark vs oracle, hourly funding, open interest against the deployer's cap, and volume spikes.

CL trades on 1 HIP-3 dex; on trade.xyz the mark is 93.612 against an oracle of 93.516, a basis of +10.3 bps. Funding is 0.00753% per hour (66.0% APR), so longs pay shorts. Open interest is $138.89M, with trade.xyz at 14% of its $1.00B cap, and $40.53M traded in 24 hours. On Bybit the CLUSDT perp funds at 0.00000% per hour (0.0% APR).

As of 18:24 UTC

Marktrade.xyz
93.612
Oracle 93.516+10.3 bps
Funding per hour
0.00753%
66.0% APRlongs pay shorts
Open interest
$138.89M
14% of $1.00B cap
24h volume
$40.53M
-0.82% 24h

CL perp markets on Hyperliquid

Oil, gold & commodities · by open interest
Dex Mark Oracle Basis 24h Funding /h APR OI OI cap Cap use 24h vol Max lev. Trade
trade.xyz xyz:CLgrowth 93.612 93.516 +10.3 bps -0.82% 0.00753% 66.0% $138.89M $1.00B 14% $40.53M 20× Trade

Funding is Hyperliquid's hourly rate (APR = hourly × 24 × 365). Basis is the mark against the deployer's oracle. Trade links go to the exchange and may be referral links.

CL perps elsewhere

same ticker on other venues
MarketPriceFunding /hAPROI24h volTrade
Bybit CLUSDT 93.610 0.00000% 0.0% $19.11M $29.15M Trade
KuCoin CLUSDTM 93.575 0.00000% 0.0% $5.64M $1.70M Trade

CL volume spikes

CL across exchanges →
Buy-side: 5 · +15m avg -0.05% (40% of 5 went up)Sell-side: 5 · +15m avg -0.24% (80% of 5 went down)
WhenDexSide$ in 1m× normal+5m+15m+1h
16m ago xyz:CL BUY $183K 21.3× +0.02% -0.08% —
17m ago xyz:CL BUY $84K 9.8× +0.07% -0.04% —
62m ago xyz:CL MIXED $118K 4.1× +0.01% +0.02% +0.23%
3h ago xyz:CL BUY $468K 6.5× +0.04% +0.11% +0.04%
3h ago xyz:CL SELL $646K 12.8× +0.16% +0.21% +0.25%
3h ago xyz:CL MIXED $190K 4.3× -0.07% +0.02% -0.03%
3h ago xyz:CL BUY $251K 10.5× -0.32% -0.34% -0.35%
3h ago xyz:CL SELL $114K 5.7× +0.02% -0.53% -0.38%
3h ago xyz:CL SELL $79K 4.2× -0.09% -0.10% -0.40%
3h ago xyz:CL BUY $446K 28.6× +0.03% +0.08% -0.36%
3h ago xyz:CL MIXED $1.03M 102.1× +0.05% +0.11% -0.36%
3h ago xyz:CL MIXED $180K 17.9× -0.12% +0.22% -0.26%
3h ago xyz:CL SELL $567K 57.0× -0.39% -0.30% -0.65%
3h ago xyz:CL SELL $184K 19.2× -0.62% -0.46% -0.83%

Newest first, up to 30. The +5m / +15m / +1h columns show what price did afterwards; they describe the past, not a prediction.

CL perp FAQ

What is the CL funding rate on Hyperliquid?

0.00753% per hour on trade.xyz right now (66.0% APR), so longs pay shorts. Hyperliquid settles funding every hour, so multiply by 8 to compare with an 8-hour rate on Binance or Bybit (0.0603% per 8h).

How closely does the CL perp track the underlying?

The trade.xyz mark is 93.612 against an oracle of 93.516, a basis of +10.3 bps. Hyperliquid Guide measured 30-day tracking error (the standard deviation of the basis) across 101 HIP-3 markets: from 2.0 bps (SP500) to 43.3 bps (BIRD), with a median of 7.6 bps (source).

What is the CL open interest cap?

trade.xyz caps xyz:CL open interest at $1.00B; $138.89M is in use right now (14%). When a market reaches its cap, orders that would add open interest are rejected until it falls.