U.S. Stock Index Perpetuals
Trade S&P 500, Nasdaq 100, Dow, and Russell 2000 perpetuals 24/7.
The U.S. equity benchmarks (S&P 500, Nasdaq 100, Dow Jones, Russell 2000) anchor global risk markets. Index perpetuals on Hyperliquid track these around the clock, letting you express macro views or hedge a stock book outside U.S. market hours.
All u.s. perpetuals on Hyperliquid
 S&P 500 SP500· US | $7,450.3 | +0.76% | $323M | -0.0002% | 50x | Trade |
How u.s. 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.