Market health
no active flags- ✓No flagsNo US500 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.
- ×Funding multiplierMarkets by Kinetiq has not set a funding multiplier for mkts:US500.
US500 perp markets on Hyperliquid
US indices · by open interest| Dex | Mark | Oracle | Basis | 24h | Funding /h | APR | Funding × | OI | OI cap | Cap use | 24h vol | Max lev. | Trade |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Markets by Kinetiq mkts:US500growth | 764.84 | 764.87 | -0.4 bps | -0.59% | 0.00057% | 5.0% | — | $931K | $25.00M | 7% | $22.51M | 25× | Trade |
Funding is Hyperliquid's hourly rate (APR = hourly × 24 × 365). Basis is the mark against the deployer's oracle; while the US market is closed the oracle is maintained by the deployer, not a live exchange price. Trade links go to the exchange and may be referral links.
US500 volume spikes
US500 across exchanges →| When | Dex | Side | $ in 1m | × normal | +5m | +15m | +1h |
|---|---|---|---|---|---|---|---|
| 3h ago | mkts:US500 | SELL | $77K | 19.4× | -0.03% | +0.06% | +0.06% |
Newest first, up to 30. The +5m / +15m / +1h columns show what price did afterwards; they describe the past, not a prediction.
US500 perp FAQ
What is the US500 funding rate on Hyperliquid?
0.00057% per hour on Markets by Kinetiq right now (5.0% 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 (0.0046% per 8h).
How closely does the US500 perp track the underlying?
The Markets by Kinetiq mark is 764.84 against an oracle of 764.87, a basis of -0.4 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). The US market is closed right now, so the deployer maintains the oracle until the open.
What is the US500 open interest cap?
Markets by Kinetiq caps mkts:US500 open interest at $25.00M, measured the way Hyperliquid counts it (long and short sides together); 7% 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.
Can I trade US500 when the US market is closed?
Yes. The perp trades 24/7 on Hyperliquid, but the US session runs 09:30 to 16:00 New York time on trading days; outside it the oracle is set by the deployer and prices can gap at the open. Status now: US market closed · after hours.