SPCX Perp on Hyperliquid: Funding, OI & Basis

SPCX Perp on Hyperliquid (HIP-3)

SPCX perpetual futures on Hyperliquid's HIP-3 dexes (Pre-IPO): live mark vs oracle, hourly funding, open interest against the deployer's cap, and volume spikes.

SPCX trades on 1 HIP-3 dex; on trade.xyz the mark is 148.87 against an oracle of 148.88, a basis of -0.7 bps. Funding is 0.00063% per hour (5.5% APR), so longs pay shorts. Open interest is $119.48M, with trade.xyz at 16% of its $750.00M cap, and $3.52M traded in 24 hours. On Bybit the SPCXUSDT perp funds at 0.00000% per hour (0.0% APR).

As of 20:54 UTC

Marktrade.xyz

148.87

Oracle 148.88-0.7 bps

Funding per hour

0.00063%

5.5% APRlongs pay shorts

Open interest

$119.48M

16% of $750.00M cap

24h volume

$3.52M

+0.19% 24h

SPCX perp markets on Hyperliquid

Pre-IPO · by open interest

Dex	Mark	Oracle	Basis	24h	Funding /h	APR	OI	OI cap	Cap use	24h vol	Max lev.	Trade
trade.xyz xyz:SPCXgrowth	148.87	148.88	-0.7 bps	+0.19%	0.00063%	5.5%	$119.48M	$750.00M	16%	$3.52M	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.

SPCX perps elsewhere

same ticker on other venues

Market	Price	Funding /h	APR	OI	24h vol	Trade
Bybit SPCXUSDT	148.98	0.00000%	0.0%	$16.49M	$1.53M	Trade
HTX SPCX-USDT	148.95	0.00000%	0.0%	$1.48M	$61K	Trade

SPCX volume spikes

SPCX across exchanges →

Buy-side: 1 · +15m avg -0.03% (0% of 1 went up)Sell-side: 0

When	Dex	Side	$ in 1m	× normal	+5m	+15m	+1h
3h ago	xyz:SPCX	BUY	$95K	162.3×	-0.05%	-0.03%	-0.03%

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

SPCX perp FAQ

What is the SPCX funding rate on Hyperliquid?

0.00063% per hour on trade.xyz right now (5.5% 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 (0.0050% per 8h).

How closely does the SPCX perp track the underlying?

The trade.xyz mark is 148.87 against an oracle of 148.88, a basis of -0.7 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 SPCX open interest cap?

trade.xyz caps xyz:SPCX open interest at $750.00M; $119.48M is in use right now (16%). When a market reaches its cap, orders that would add open interest are rejected until it falls.