- S&P Dow Jones launches the primary S&P 500 perpetual futures contract on-chain, with worth feed supplied by Pais Community.
- On the primary day of buying and selling, HyperLiquid's everlasting market reached $100 million as traders welcomed prolonged market hours and world entry.
This week, S&P Dow Jones Indices introduced that it’s bringing the market-leading S&P 500 to HyperLiquid, making the index accessible on-chain for the primary time.
The world's largest index supplier has introduced that it has licensed its largest index to commerce.xyz, a buying and selling platform constructed on Hyperliquid that gives an on-chain perpetual futures market. This was the primary time that traders exterior the USA may entry the index by a digitally native product working 24/7 on a decentralized platform.
This product is powered by Pyth Networks, one of many largest decentralized oracle networks. The undertaking revealed on Friday that commerce.xyz depends on a proprietary composite feed to energy prolonged session pricing.
The primary formally licensed S&P 500 perpetual contract is now obtainable on @tradexyz.
Commerce(XYZ) makes use of Pyth's distinctive composite feed to energy prolonged session pricing.
The S&P 500 PERP trades almost 24 hours a day, from Sunday at 6pm ET to Friday at 5pm ET. Nevertheless, solely money index… https://t.co/tt4mg3XDLZ
— Pyth Community 🔮 (@PythNetwork) March 20, 2026
Hyperliquid's new index is constructed to be traded almost 24 hours a day. Though some advertising supplies for S&P Dow Jones point out the product will function 24/7, Pais stated it should commerce from 6pm ET on Sunday to 5pm ET on Friday. Nonetheless, the Money Index is simply revealed throughout common U.S. market hours, leaving a scarcity of dependable information sources. After this era, the buying and selling platform will lack information to facilitate buying and selling.
The community stated:
“Pyth fills that hole. The EMM6/USD feed is a composite worth constructed from precise futures buying and selling exercise and supplied by the businesses buying and selling these contracts. Upstream pricing from market individuals. Steady pricing. On-chain.”
Perpetual futures powered by Pyth processed $100 million on day one
Hyperliquid's perpetual futures had been a right away success. On Friday, the primary day of buying and selling, the decentralized trade recorded $100 million in buying and selling quantity from traders trying to reap the benefits of the brand new product.
Whereas the “24/7'' nature of the brand new perpetual futures is its largest promoting level, it additionally offers world entry with out the necessity for a dealer account, eliminating conventional gatekeepers. It additionally opens the market to merchants exterior the USA. Hyperliquid additionally helps prompt on-chain deposits and withdrawals, in contrast to earlier setups that took as much as three days to settle transactions.
Historically, S&P futures contracts expire and have to be rolled over. Nevertheless, new perpetual futures permit positions to stay open indefinitely. It additionally permits for a lot smaller positions for better capital effectivity, and since every little thing is on-chain, it permits for integration into DeFi methods.
Hyperliquid has grow to be one of many main initiatives within the cryptocurrency area. As CNF reported, the corporate final month raised $28 million in seed funding and opened a DeFi coverage foyer in Washington to guard its pursuits. We additionally proceed so as to add new options, most lately including a steady liquidation public sale mechanism that enables initiatives to extra simply increase funds on the protocol.
