By Keel Research Team · Updated May 9, 2026
Trade NVDA, TSLA, AAPL, MSFT and the S&P 500 / Nasdaq-100 as perpetual contracts on Hyperliquid. 24/7 markets, on-chain settlement, self-custodial, up to 30x leverage via HIP-3 builders TradeXYZ and Felix.
| Symbol | Underlying | Builder | Settlement | Max Lev | Trade |
|---|---|---|---|---|---|
| NVDA | Nvidia (NVDA) common stock | TradeXYZ | USDC | 20x | Trade → |
| TSLA | Tesla (TSLA) common stock | TradeXYZ + Felix | USDC | 20x | Trade → |
| SP500 | S&P 500 index | TradeXYZ | USDC | 20x | Trade → |
| Nasdaq-100 | Nasdaq-100 index | TradeXYZ | USDC | 30x | Trade → |
| AAPL | Apple (AAPL) common stock | TradeXYZ | USDC | 20x | Trade → |
| MSFT | Microsoft (MSFT) common stock | TradeXYZ | USDC | 10x | Trade → |
| GOOGL | Alphabet (GOOGL) Class A common stock | TradeXYZ | USDC | 20x | Trade → |
| AMZN | Amazon (AMZN) common stock | TradeXYZ | USDC | 20x | Trade → |
| META | Meta Platforms (META) common stock | TradeXYZ | USDC | 20x | Trade → |
| COIN | Coinbase Global (COIN) common stock | TradeXYZ + Felix | USDC | 20x | Trade → |
| MSTR | Strategy (MSTR, formerly MicroStrategy) common stock | TradeXYZ | USDC | 20x | Trade → |
| PLTR | Palantir Technologies (PLTR) common stock | TradeXYZ | USDC | 20x | Trade → |
List reflects the priority symbols Keel covers. Additional HIP-3 equity perps may be live on Hyperliquid; consult app.hyperliquid.xyz for the full venue list.
A stock perpetual is a perpetual futures contract whose reference price tracks a single equity (NVDA, TSLA, AAPL, MSFT) or an equity index (S&P 500, Nasdaq-100). The contract lives on the Hyperliquid order book and settles in USDC or USDH; it never expires, instead using hourly funding to anchor the perp price to the underlying via an oracle feed.
Hyperliquid enables these markets through HIP-3, a permissionless market-deployment standard introduced in November 2025. Independent “builders” — currently TradeXYZ (USDC-settled) and Felix (USDH-settled) — deploy new perp markets that settle natively on Hyperliquid’s shared order book. As of May 2026, TradeXYZ runs the dominant equity-perp venue with markets including the Nasdaq-100 (xyz:XYZ100, the highest-OI HIP-3 product) and the first officially licensed S&P 500 perpetual (xyz:SP500, under agreement with S&P Dow Jones Indices).
Equity perps fill a gap traditional finance does not: around-the-clock directional exposure to single names and indices, with leverage, settled on-chain, self-custodial, accessible from anywhere with a wallet. They are not a replacement for owning stock — no dividends, no voting — but they are a powerful instrument for hedging, paired trades, and short-horizon strategies.
Further reading: how to trade stocks on Hyperliquid (practical), stock perpetuals explained (mechanics), and Hyperliquid vs Robinhood (side-by-side).
| Venue | Product | Hours | Leverage | Custody | Settles |
|---|---|---|---|---|---|
| Hyperliquid (HIP-3 builders) | Perpetual | 24/7 | Up to 30x | Self-custody | On-chain (USDC / USDH) |
| Ostium / synthetic perps | Synthetic perpetual | 24/7 | Up to 50x | Self-custody | On-chain (USDC) |
| Kraken xStocks | Tokenized stock | 24/5 | Cash | Custodial | USDC redemption |
| Robinhood / brokerage | Spot stock | US market hours | ~2x margin | Custodial | USD |
| CFD broker | CFD | Extended hours | Up to 30x (broker dep.) | Custodial | USD / EUR |
Not investment advice. Each venue carries distinct counterparty, custody, and regulatory characteristics. Confirm current terms with the venue before trading.
HIP-3 is Hyperliquid’s permissionless market-deployment standard. It lets independent builders launch new perpetual markets — including single-stock and index perps — that settle natively on Hyperliquid. TradeXYZ and Felix are the two active HIP-3 builders for equity perps as of May 2026.
No. A perpetual contract gives you price exposure with leverage and funding, but no ownership rights, dividends, or voting. Use perps for short-to-medium-term directional trades, hedging, or paired strategies; use spot stock through a broker for long-term holding.
24/7 trading, self-custodial, on-chain execution, and up to 30x leverage (vs ~2x cash margin on Robinhood). No KYC required for the exchange itself. Tradeoff: counterparty is the on-chain protocol rather than a regulated broker — read the venue’s terms before trading.
The perp price floats on the Hyperliquid order book 24/7. During US market hours, an oracle anchors the perp to the underlying spot price. Off-hours, the order book performs price discovery on its own, with funding rates pulling the perp back toward the oracle when markets re-open.
Some, especially off-hours. The perp can diverge from the last NYSE close, sometimes by a few percent during macro news. Funding pulls the perp back over time. For tight tracking, trade during US market hours when the oracle is active and liquidity is best.
Keel is a Strategy OS for AI-assisted systematic trading on Hyperliquid. Build a strategy that trades NVDA against funding regimes, a pairs trade between AAPL and MSFT, or a rotation across the whole HIP-3 equity-perp universe — then backtest, optimize, and deploy live with funding-aware execution.
Free to start. Connect a Hyperliquid wallet when you’re ready to go live; everything before that runs in the browser.