DRV Perp on Hyperliquid (HIP-3)
DRV perpetual futures on Hyperliquid's HIP-3 dexes (ETFs): live mark vs oracle, hourly funding, open interest against the deployer's cap, and volume spikes.
DRV trades on 1 HIP-3 dex; on Paragon the mark is 0.3825 against an oracle of 0.3822, a basis of +8.9 bps. Funding is 0.00705% per hour (61.8% APR), so longs pay shorts. Open interest is $99K, with Paragon at 2% of its $10.00M cap, and $99K traded in 24 hours. The US market is closed (weekend) until Mon 09:30 ET, so the deployer maintains the oracle and the basis is not a live arbitrage reference until then.
Market health
no active flags- ✓No flagsAvailable data: No DRV 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
ParagonFunding multiplier ×0.6. Paragon applies a funding multiplier of ×0.6 to para:DRV, scaling the rate Hyperliquid's funding formula would otherwise give.
DRV perp markets on Hyperliquid
ETFs · by open interest| Dex | Mark | Oracle | Basis | 24h | Funding /h | APR | Funding × | OI | OI cap | Cap use | 24h vol | Max lev. | Trade |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Paragon para:DRV | 0.3825 | 0.3822 | +8.9 bps | -0.15% | 0.00705% | 61.8% | ×0.6 | $99K | $10.00M | 2% | $99K | 5× | 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.
DRV perps elsewhere
same ticker on other venuesDRV contract history
History for para:DRV 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
para:DRVLoading chart…
Not recorded Chart: TradingView Lightweight Charts™
Quoted funding rate history
Normalized 8h · hourly × 8Loading chart…
Not recorded Chart: TradingView Lightweight Charts™
para:DRV observed funding: last seven completed UTC days
| UTC date | Mean quoted /h | 8h equivalent | Observed hours |
|---|---|---|---|
| 0.00461% | 0.0369% | 24/24 | |
| 0.00746% | 0.0597% | 24/24 | |
| 0.01255% | 0.1004% | 24/24 | |
| 0.02596% | 0.2076% | 12/24 (partial) | |
| Unavailable | Unavailable | 0/24 | |
| Unavailable | Unavailable | 0/24 | |
| Unavailable | Unavailable | 0/24 |
Only para:DRV: 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.
DRV volume spikes
DRV across exchanges →No recent DRV volume spikes. Spikes on every Hyperliquid market show on the Hyperliquid pump scanner.
DRV perp FAQ
What is the DRV price on Hyperliquid?
The DRV perp mark is 0.3825 on Paragon, against an oracle of 0.3822. 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 DRV funding rate on Hyperliquid?
0.00705% per hour on Paragon right now (61.8% 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 (0.0564% per 8h).
How closely does the DRV perp track the underlying?
The Paragon mark is 0.3825 against an oracle of 0.3822, a basis of +8.9 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). The US market is closed right now, so the deployer maintains the oracle until the open.
Can I trade DRV 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 · weekend.