PRL Perp on Hyperliquid (HIP-3)
PRL perpetual futures on Hyperliquid's HIP-3 dexes (Other): live mark vs oracle, hourly funding, open interest against the deployer's cap, and volume spikes.
PRL trades on 1 HIP-3 dex; on EntropyIO the mark is 1.949 against an oracle of 1.926, a basis of +118.9 bps. Funding is 0.05989% per hour (524.6% APR), so longs pay shorts. Open interest is $1.07M, with EntropyIO at 43% of its $5.00M cap, and $5.19M traded in 24 hours.
Market health
no active flags- ✓No flagsAvailable data: No PRL market is more than 1% from its oracle while the underlying is closed, and none is at 90% or more of its open interest cap. Unreported oracle and cap values are shown as —.
Funding configuration
EntropyIOFunding multiplier ×0.5. EntropyIO applies a funding multiplier of ×0.5 to io:PRL, scaling the rate Hyperliquid's funding formula would otherwise give.
PRL perp markets on Hyperliquid
Other · by open interest| Dex | Mark | Oracle | Basis | 24h | Funding /h | APR | Funding × | OI | OI cap | Cap use | 24h vol | Max lev. | Trade |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EntropyIO io:PRLgrowth | 1.949 | 1.926 | +118.9 bps | -5.41% | 0.05989% | 524.6% | ×0.5 | $1.07M | $5.00M | 43% | $5.19M | 3× | 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.
PRL volume spikes
PRL across exchanges →| When | Dex | Side | $ in 1m | × normal | +5m | +15m | +1h |
|---|---|---|---|---|---|---|---|
| 65m ago | io:PRL | SELL | $91K | 14.4× | -0.18% | -0.38% | — |
Newest first, up to 30. The +5m / +15m / +1h columns show what price did afterwards; they describe the past, not a prediction.
PRL perp FAQ
What is the PRL funding rate on Hyperliquid?
0.05989% per hour on EntropyIO right now (524.6% 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 (0.4791% per 8h).
How closely does the PRL perp track the underlying?
The EntropyIO mark is 1.949 against an oracle of 1.926, a basis of +118.9 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 PRL open interest cap?
EntropyIO caps io:PRL open interest at $5.00M, measured the way Hyperliquid counts it (long and short sides together); 43% of the cap is in use right now. When a market reaches its cap, orders that would add open interest are rejected until it falls.