About

Trade.xyz is a perpetuals exchange leveraging Hyperliquid's builder codes and listing USDC-settled perpetuals on stocks, equity indices, commodities, FX, and pre-IPO companies, along with fully collateralized event (prediction market) contracts. It is designed to give traders 24/7 exposure to traditional markets with onchain execution and settlement, and it also runs a non-custodial trading interface. It is built by Unit Labs, the team behind Unit.

History

Trade.xyz, styled trade[XYZ], is built by Unit Labs, the team that also operates Unit, an asset tokenization layer for Hyperliquid. Its thesis is that global capital markets should be accessible around the clock with deep onchain liquidity. It pursues that by using Hyperliquid's HIP-3 framework to deploy perpetual markets on real-world assets directly on HyperCore, where Hyperliquid's validator set handles matching, margining, and settlement. Trade.xyz sets the listings, oracle inputs, and leverage limits for its xyz deployment. Its website at trade.xyz is one non-custodial interface to those markets, not the only one. It has since extended into outcome markets through HIP-4, deploying fully collateralized event contracts under a separate txyz deployment. Market mechanics and specifications are published in its documentation.

• October 2025: Deployed the first HIP-3 market on Hyperliquid mainnet on October 13, the day HIP-3 went live, with XYZ100, a perpetual tracking an index of 100 large US companies
• November 2025: Activated HIP-3 Growth Mode across its markets, cutting trading fees by roughly 90%
• March 2026: Licensed by S&P Dow Jones Indices to list the first officially licensed S&P 500 perpetual, at which point its markets had surpassed $100 billion in cumulative volume
• May 2026: Launched Pre-IPO Perpetuals with Cerebras Systems (CBRS) on May 1, followed by a SpaceX market on May 18
• August 2026: Submitted a joint comment letter with the Hyperliquid Policy Center asking the SEC to consider pre-IPO perpetuals as a price discovery tool