2Y perp markets on Hyperliquid
Rates · by open interest| Dex | Mark | Oracle | Basis | 24h | Funding /h | APR | OI | OI cap | Cap use | 24h vol | Max lev. | Trade |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Paragon para:2Ygrowth | 4.840 | 4.864 | -49.3 bps | -0.25% | 0.00013% | 1.1% | $1.04M | $25.00M | 4% | $43K | 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.
2Y volume spikes
2Y across exchanges →No 2Y volume spikes recorded since the server started. Spikes on every Hyperliquid market show on the Hyperliquid pump scanner.
2Y perp FAQ
What is the 2Y funding rate on Hyperliquid?
0.00013% per hour on Paragon right now (1.1% 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 (0.0010% per 8h).
How closely does the 2Y perp track the underlying?
The Paragon mark is 4.840 against an oracle of 4.864, a basis of -49.3 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 2Y open interest cap?
Paragon caps para:2Y open interest at $25.00M; $1.04M is in use right now (4%). When a market reaches its cap, orders that would add open interest are rejected until it falls.