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 | $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 |
 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 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.