Copper (COPPER) Perp on Hyperliquid (HIP-3)
Copper (COPPER) 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.
COPPER trades on 1 HIP-3 dex; on trade.xyz the mark is 6.335 against an oracle of 6.331, a basis of +6.2 bps. Funding is 0.00063% per hour (5.5% APR), so longs pay shorts. Open interest is $5.25M, with trade.xyz at 4% of its $300.00M cap, and $2.32M traded in 24 hours. On MEXC the COPPER_USDT perp funds at 0.00000% per hour (0.0% APR).
Market health
no active flags- ✓No flagsAvailable data: No COPPER 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. Unreported oracle and cap values are shown as —.
Funding configuration
trade.xyzFunding multiplier ×0.5. trade.xyz applies a funding multiplier of ×0.5 to xyz:COPPER, scaling the rate Hyperliquid's funding formula would otherwise give.
COPPER perp markets on Hyperliquid
Oil, gold & commodities · by open interest| Dex | Mark | Oracle | Basis | 24h | Funding /h | APR | Funding × | OI | OI cap | Cap use | 24h vol | Max lev. | Trade |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| trade.xyz xyz:COPPERgrowth | 6.335 | 6.331 | +6.2 bps | -0.75% | 0.00063% | 5.5% | ×0.5 | $5.25M | $300.00M | 4% | $2.32M | 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.
COPPER perps elsewhere
same ticker on other venuesCOPPER contract history
History for xyz:COPPER only. Funding shows quoted rate history, not settled payments: Hyperliquid settles hourly; the chart uses normalized 8h rates (hourly × 8), displayed as percentages. Gaps are not recorded data.
Open interest history
xyz:COPPERLoading chart…
Not recorded Chart: TradingView Lightweight Charts™
Quoted funding rate history
Normalized 8h · hourly × 8Loading chart…
Not recorded Chart: TradingView Lightweight Charts™
xyz:COPPER observed funding: last seven completed UTC days
| UTC date | Mean quoted /h | 8h equivalent | Observed hours |
|---|---|---|---|
| 0.00856% | 0.0685% | 24/24 | |
| 0.00797% | 0.0637% | 24/24 | |
| 0.00876% | 0.0701% | 24/24 | |
| -0.00002% | -0.0002% | 24/24 | |
| 0.00035% | 0.0028% | 24/24 | |
| 0.00692% | 0.0553% | 24/24 | |
| 0.00176% | 0.0141% | 24/24 |
Only xyz:COPPER: means of recorded hourly quoted funding, not settled payments or realised returns. Hourly means divide the normalized 8h quotes by eight. Coverage counts observed hours out of 24; missing hours are excluded, not treated as zero. Missing dates remain unavailable. The current UTC day is excluded. Annualised projections assume a rate continues and are not historical earnings.
COPPER volume spikes
COPPER across exchanges →| When | Dex | Side | $ in 1m | × normal | +5m | +15m | +1h |
|---|---|---|---|---|---|---|---|
| 2h ago | xyz:COPPER | SELL | $96K | 246.0× | 0.00% | -0.18% | -0.03% |
Newest first, up to 30. The +5m / +15m / +1h columns show what price did afterwards; they describe the past, not a prediction.
COPPER perp FAQ
What is the COPPER price on Hyperliquid?
The COPPER perp mark is 6.335 on trade.xyz, against an oracle of 6.331. The perp mark is not the exchange-listed underlying price: it is the price of the perpetual contract, and can differ from the underlying. Missing values appear as a dash.
What is the COPPER 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 COPPER perp track the underlying?
The trade.xyz mark is 6.335 against an oracle of 6.331, a basis of +6.2 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 COPPER open interest cap?
trade.xyz caps xyz:COPPER open interest at $300.00M, measured the way Hyperliquid counts it (long and short sides together); 4% 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.