Metal Perpetual Futures
Trade gold, silver, copper, platinum, and palladium 24/7.
Metal perpetuals span the precious metals (gold, silver, platinum, palladium) and the industrial metals (copper). Gold and silver trade on real rates, dollar strength, and macro stress; copper is the most-watched gauge of global industrial demand. All five trade 24/7 here.
All metals perpetuals on Hyperliquid
| Deployer | |||||||
|---|---|---|---|---|---|---|---|
 Silver SILVER· Metals | xyz | $65.34 | -0.73% | $133M | +0.0006% | 25x | Trade |
 Gold GOLD· Metals | xyz | $4,401.7 | -0.31% | $110M | -0.0001% | 25x | Trade |
 Copper COPPER· Metals | xyz | $6.72 | +0.21% | $4.4M | +0.0006% | 20x | Trade |
 Platinum PLATINUM· Metals | xyz | $1,755.5 | -0.63% | $1.3M | +0.0006% | 20x | Trade |
 Palladium PALLADIUM· Metals | xyz | $1,374.8 | -1.13% | $374k | +0.0006% | 20x | Trade |
How metals perpetuals work
When you open a perpetual position you don't take delivery of the underlying asset. You're posting margin against a contract whose price tracks the underlying. Profits and losses are settled in USDC on Hyperliquid as the price moves.
Hyperliquid runs a fully on-chain order book with sub-second matching. Every trade, fill, and funding payment is verifiable on the Hyperliquid L1 chain. There are no off-chain matching engines, no withdrawal queues, and no custodian holding your funds.
Liquidiction routes orders through Hyperliquid as a builder code, which means you sign trades from your own wallet and Hyperliquid charges a small builder fee on close. Funding is paid hourly. Liquidations occur if your margin falls below the maintenance threshold.