Commodity Perpetual Futures
Bet on the price of oil, natural gas, gold, and other raw commodities, around the clock.
Commodity perpetuals on Hyperliquid let you take long or short positions on the price of physical commodities like crude oil, natural gas, gold, silver, and copper. Trades settle in USDC, around the clock, without a commodities-trading account.
All commodities perpetuals on Hyperliquid
| Deployer | |||||||
|---|---|---|---|---|---|---|---|
 Crude Oil (WTI) CL· Energy | xyz | $71.38 | +1.62% | $48M | +0.0192% | 20x | Trade |
 Brent Crude Oil BRENTOIL· Energy | xyz | $74.78 | +1.69% | $27M | +0.0197% | 20x | Trade |
 Silver SILVER· Metals | xyz | $58.92 | -0.24% | $10.0M | -0.0028% | 25x | Trade |
 Gold GOLD· Metals | xyz | $4,081.4 | -0.12% | $4.9M | +0.0006% | 25x | Trade |
 Natural Gas NATGAS· Energy | xyz | $3.25 | -1.19% | $2.8M | -0.0063% | 10x | Trade |
 Copper COPPER· Metals | xyz | $6.21 | -0.01% | $575k | +0.0004% | 20x | Trade |
Silver SILVER· Metals | cash | $59.06 | -0.09% | $136k | -0.0000% | 20x | Trade |
 Platinum PLATINUM· Metals | xyz | $1,631.1 | -0.05% | $114k | +0.0002% | 20x | Trade |
 Palladium PALLADIUM· Metals | xyz | $1,212.9 | +0.36% | $33k | -0.0035% | 20x | Trade |
Gold GOLD· Metals | cash | $4,084.77 | +0.02% | $11k | -0.0000% | 20x | Trade |
How commodities perpetuals work
Commodity perpetuals are price contracts: when you go long crude oil you do not take physical delivery of barrels. Profit and loss are settled in USDC as the underlying commodity price moves.
The price reference is typically a futures-index oracle (e.g. front-month CME contract) blended into a TWAP that the Hyperliquid funding mechanism nudges the perp price toward. So even though you can trade 24/7, the underlying futures market is closed nights and weekends, which is why liquidity thins outside the regular session.
Settlement is on-chain on Hyperliquid. No commodities broker, no margin call from a phone-based broker, no contract roll dates.