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CL Perp on Hyperliquid (HIP-3)

CL perpetual futures on Hyperliquid's HIP-3 dexes (Oil, gold & commodities): live mark vs oracle, hourly funding, open interest against the deployer's cap, and volume spikes.

CL trades on 1 HIP-3 dex; on trade.xyz the mark is 93.848 against an oracle of 93.988, a basis of -14.9 bps. Funding is -0.02424% per hour (-212.3% APR), so shorts pay longs. Open interest is $139.54M, with trade.xyz at 14% of its $1.00B cap, and $35.59M traded in 24 hours. On Bybit the CLUSDT perp funds at -0.00152% per hour (-13.3% APR).

As of 15:18 UTC

Marktrade.xyz
93.848
Oracle 93.988-14.9 bps
Funding per hour
-0.02424%
-212.3% APRshorts pay longs
Open interest
$139.54M
14% of $1.00B cap
24h volume
$35.59M
-0.67% 24h

CL perp markets on Hyperliquid

Oil, gold & commodities · by open interest
Dex Mark Oracle Basis 24h Funding /h APR OI OI cap Cap use 24h vol Max lev. Trade
trade.xyz xyz:CLgrowth 93.848 93.988 -14.9 bps -0.67% -0.02424% -212.3% $139.54M $1.00B 14% $35.59M 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.

CL perps elsewhere

same ticker on other venues
MarketPriceFunding /hAPROI24h volTrade
Bybit CLUSDT 93.760 -0.00152% -13.3% $20.15M $24.72M Trade
Kucoin CLUSDTM 93.780 0.00000% 0.0% $7.46M $1.70M Trade

CL volume spikes

CL across exchanges →
Buy-side: 3 · +15m avg -0.03% (50% of 2 went up)Sell-side: 3 · +15m avg -0.26% (100% of 3 went down)
WhenDexSide$ in 1m× normal+5m+15m+1h
7m ago xyz:CL BUY $446K 28.6× +0.03% — —
13m ago xyz:CL MIXED $1.03M 102.1× +0.05% — —
15m ago xyz:CL MIXED $180K 17.9× -0.12% +0.22% —
20m ago xyz:CL SELL $567K 57.0× -0.39% -0.30% —
22m ago xyz:CL SELL $184K 19.2× -0.62% -0.46% —
46m ago xyz:CL BUY $238K 23.3× -0.05% -0.06% —
61m ago xyz:CL BUY $172K 17.1× -0.00% +0.01% -0.45%
69m ago xyz:CL SELL $444K 49.1× +0.01% -0.03% -0.83%

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

CL perp FAQ

What is the CL funding rate on Hyperliquid?

-0.02424% per hour on trade.xyz right now (-212.3% 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 (-0.1939% per 8h).

How closely does the CL perp track the underlying?

The trade.xyz mark is 93.848 against an oracle of 93.988, a basis of -14.9 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 CL open interest cap?

trade.xyz caps xyz:CL open interest at $1.00B; $139.54M is in use right now (14%). When a market reaches its cap, orders that would add open interest are rejected until it falls.