Trading stocks and commodities on-chain, 24/7
Some on-chain perpetual futures track the price of a company, an index, a commodity or a currency. They trade around the clock, from your own wallet, with no brokerage account. On Hyperverve these are the HIP-3 markets on Hyperliquid.
Updated 2026-11-08
What these markets are
A stock or commodity perp is a contract that follows the price of the asset. You do not own a share or a barrel of oil: you hold a long or short position whose result follows the price, with leverage if you choose.
Because the contract lives on a blockchain, it can trade at any hour, including weekends, when the underlying market may be closed.
What HIP-3 means
HIP-3 is Hyperliquid's standard that lets independent builders deploy their own perp markets. A builder chooses the asset, the price source and the settings of a market, and runs it. Hyperliquid and Verve do not run these markets.
This is why a market's own page matters. The same company can have markets from more than one builder, with different settings.
What you can find
| Group | Examples of what it tracks |
|---|---|
| Stocks | The price of listed companies. |
| Indices | The level of a stock index. |
| Commodities | Metals, energy and other commodities. |
| FX | Currency pairs. |
| Pre-IPO | Companies that have not listed yet. |
What to check before you trade one
- Who deployed the market, and where its price comes from.
- Its maximum leverage and margin mode. Some markets allow isolated margin only.
- Liquidity: a thin order book means a market order can fill far from the price you saw.
- What happens when the underlying market is closed. The perp keeps trading, and its price can differ from the last price of the asset.
- Funding, which you pay or receive every hour you hold a position.
On Verve
Hyperverve lists these markets beside Hyperliquid's crypto perps and spot pairs, powered by Hyperliquid. Verve takes 0%; Hyperliquid's own exchange fee applies. Hyperverve trading is switching on in stages, so the markets may be viewable before orders are accepted for your account. Leveraged trading involves substantial risk, including the loss of all the margin on a position. Nothing here is financial advice.
Do I own the stock when I trade a stock perp?
No. A stock perp follows the price of the stock. You hold a position, not a share, so you get no ownership rights such as voting or dividends.
Why can I trade these markets on weekends?
The contracts live on a blockchain that runs all the time. The underlying market may be closed, so the perp's price can differ from the asset's last price while it is.
Who runs a HIP-3 market?
An independent builder deploys and runs each HIP-3 market. Neither Hyperliquid nor Verve runs them, so read each market's page first.