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META Perp on Hyperliquid (HIP-3)

META perpetual futures on Hyperliquid's HIP-3 dexes (US stocks): live mark vs oracle, hourly funding, open interest against the deployer's cap, and volume spikes.

META trades on 1 HIP-3 dex; on trade.xyz the mark is 747.49 against an oracle of 748.25, a basis of -10.2 bps. Funding is -0.00488% per hour (-42.8% APR), so shorts pay longs. Open interest is $67.38M, with trade.xyz at 34% of its $200.00M cap, and $7.79M 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.

US market closed · weekendAs of 15:18 UTC

Marktrade.xyz
747.49
Oracle 748.25-10.2 bps
Funding per hour
-0.00488%
-42.8% APRshorts pay longs
Open interest
$67.38M
34% of $200.00M cap
24h volumeUS closed
$7.79M
-0.03% 24hopens Mon 09:30 ET

META perp markets on Hyperliquid

US stocks · by open interest
Dex Mark Oracle Basis 24h Funding /h APR OI OI cap Cap use 24h vol Max lev. Trade
trade.xyz xyz:METAgrowth 747.49 748.25 -10.2 bps -0.03% -0.00488% -42.8% $67.38M $200.00M 34% $7.79M 20× 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.

META perps elsewhere

same ticker on other venues
MarketPriceFunding /hAPROI24h volTrade
Bybit METAUSDT 748.03 -0.00333% -29.1% $3.76M $2.23M Trade

META volume spikes

META across exchanges →
Buy-side: 0Sell-side: 0
WhenDexSide$ in 1m× normal+5m+15m+1h
11m ago xyz:META MIXED $76K 57.3× -0.02% — —

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

META perp FAQ

What is the META funding rate on Hyperliquid?

-0.00488% per hour on trade.xyz right now (-42.8% 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 (-0.0390% per 8h).

How closely does the META perp track the underlying?

The trade.xyz mark is 747.49 against an oracle of 748.25, a basis of -10.2 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). The US market is closed right now, so the deployer maintains the oracle until the open.

What is the META open interest cap?

trade.xyz caps xyz:META open interest at $200.00M; $67.38M is in use right now (34%). When a market reaches its cap, orders that would add open interest are rejected until it falls.

Can I trade META 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.