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Perp tradingPerp DEX · Hyperliquid (HIP-3)

trade.xyz

Author's status: ActiveTBAUpdated: 2026-09-20

I use it to trade equity and index perps on Hyperliquid.

TGE and points

Phase
TBANo token and no points announced.
TGE
Not announced
Points program
No points

Airdrop payout estimate

Includes estimates and placeholders

FDV assumption
$1.5B
Airdrop share
10%
Expected pool
$150M
Per point
—

Basis: No token announced. The $1.5B FDV is the valuation from the August 2026 funding rumor; the 10% share is a placeholder. With no points, an individual payout cannot be estimated.

Pool = FDV assumption × airdrop share. The value per point divides by the points issued so far, so it falls as more points are issued. The actual payout varies widely with the distribution method, locks and sybil filtering. The points you enter are saved only in this browser.

Team, funding and user base

Base
Unverified
Founders / leads
Not published (team only partly public)Several outlets report it was built by the Unit (Hyperunit) team. The official docs do not name the operating entity.
VC funding
UndisclosedNo disclosed round. An August 2026 rumor said it raised $200M at a $1.5B valuation; the company has not confirmed it.
X followers
52.1K@tradexyzas of 2026-09-20
User base
Over 300K total wallets (June 2026)TechFlow / KuCoin News

Risks and caveats

  • 2026-07-27: the SK Hynix perp's mark price picked up thin quotes and dropped about 19%, causing over $60M in liquidations (CoinDesk). The team announced a one-time discretionary compensation.
  • US residents and "other restricted regions" cannot use it. The docs give no full list of restricted regions, and Japan's status is unverified.
  • The official docs do not identify the operating entity.

Links

Sources

This page is for information only and is not a solicitation to use any crypto asset or service. Airdrops and their amounts are not guaranteed, and you may lose the funds you deposit.