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SMSN Perp on Hyperliquid (HIP-3)

SMSN perpetual futures on Hyperliquid's HIP-3 dexes (Non-US stocks & indices): live mark vs oracle, hourly funding, open interest against the deployer's cap, and volume spikes.

SMSN trades on 1 HIP-3 dex; on trade.xyz the mark is 208.88 against an oracle of 208.99, a basis of -5.3 bps. Funding is -0.00551% per hour (-48.3% APR), so shorts pay longs. Open interest is $69.39M, with trade.xyz at 28% of its $250.00M cap, and $7.02M traded in 24 hours.

As of 16:13 UTC

Marktrade.xyz
208.88
Oracle 208.99-5.3 bps
Funding per hour
-0.00551%
-48.3% APRshorts pay longs
Open interest
$69.39M
28% of $250.00M cap
24h volume
$7.02M
+0.71% 24h

SMSN perp markets on Hyperliquid

Non-US stocks & indices · by open interest
Dex Mark Oracle Basis 24h Funding /h APR OI OI cap Cap use 24h vol Max lev. Trade
trade.xyz xyz:SMSNgrowth 208.88 208.99 -5.3 bps +0.71% -0.00551% -48.3% $69.39M $250.00M 28% $7.02M 10× 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.

SMSN volume spikes

SMSN across exchanges →
Buy-side: 0Sell-side: 1 · +15m avg +0.06% (0% of 1 went down)
WhenDexSide$ in 1m× normal+5m+15m+1h
14m ago xyz:SMSN MIXED $133K 108.7× +0.08% — —
20m ago xyz:SMSN SELL $143K 122.0× -0.05% +0.06% —

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

SMSN perp FAQ

What is the SMSN funding rate on Hyperliquid?

-0.00551% per hour on trade.xyz right now (-48.3% APR), so shorts pay longs. Hyperliquid settles funding every hour, so multiply by 8 to compare with an 8-hour rate on Binance or Bybit (-0.0441% per 8h).

How closely does the SMSN perp track the underlying?

The trade.xyz mark is 208.88 against an oracle of 208.99, a basis of -5.3 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 SMSN open interest cap?

trade.xyz caps xyz:SMSN open interest at $250.00M; $69.39M is in use right now (28%). When a market reaches its cap, orders that would add open interest are rejected until it falls.