PRL Perp on Hyperliquid (HIP-3)
PRL perpetual futures on Hyperliquid's HIP-3 dexes (Other): live mark vs oracle, hourly funding, open interest against the deployer's cap, and volume spikes.
PRL trades on 1 HIP-3 dex; on EntropyIO the mark is 2.029 against an oracle of 1.988, a basis of +204.7 bps. Funding is 0.19348% per hour (1694.9% APR), so longs pay shorts. Open interest is $962K, with EntropyIO at 39% of its $5.00M cap, and $4.62M traded in 24 hours.
Market health
no active flags- ✓No flagsAvailable data: No PRL 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
EntropyIOFunding multiplier ×0.5. EntropyIO applies a funding multiplier of ×0.5 to io:PRL, scaling the rate Hyperliquid's funding formula would otherwise give.
PRL perp markets on Hyperliquid
Other · by open interest| Dex | Mark | Oracle | Basis | 24h | Funding /h | APR | Funding × | OI | OI cap | Cap use | 24h vol | Max lev. | Trade |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EntropyIO io:PRLgrowth | 2.029 | 1.988 | +204.7 bps | -1.53% | 0.19348% | 1694.9% | ×0.5 | $962K | $5.00M | 39% | $4.62M | 3× | 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.
PRL volume spikes
PRL across exchanges →No recent PRL volume spikes. Spikes on every Hyperliquid market show on the Hyperliquid pump scanner.
PRL perp FAQ
What is the PRL funding rate on Hyperliquid?
0.19348% per hour on EntropyIO right now (1694.9% 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 (1.5478% per 8h).
How closely does the PRL perp track the underlying?
The EntropyIO mark is 2.029 against an oracle of 1.988, a basis of +204.7 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 PRL open interest cap?
EntropyIO caps io:PRL open interest at $5.00M, measured the way Hyperliquid counts it (long and short sides together); 39% 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.