Product Launches
Trade.xyz Debuts Synthetic Nifty 50 Perpetual Futures on Hyperliquid With 20x Leverage
By News Desk ·
Key takeaways
- Trade.xyz launched a synthetic Nifty 50 perpetual futures contract on Hyperliquid on October 27, 2026, with leverage of up to 20 times.
- The contract settles in USDC and trades 24/7, including weekends and Indian market holidays, without conferring ownership of the 50 index companies.
- Trade.xyz had exceeded $100 billion in cumulative trading volume by March 2026, according to S&P Dow Jones Indices.
Trade.xyz launched a synthetic perpetual futures contract tracking India's Nifty 50 index on Hyperliquid on October 27, 2026, offering leverage of up to 20 times and USDC settlement around the clock. FinanceFeeds reported the launch.
How the Nifty 50 Perpetual Works
The contract runs on Hyperliquid's HIP-3 infrastructure and trades on the platform's onchain order book, where traders can take leveraged long or short positions. Unlike Nifty futures on India's National Stock Exchange, the instrument has no expiration date and stays available on weekends, public holidays and during hours when Indian equity markets are closed. It tracks the index's numerical level, calculated in Indian rupees, while margin and settlement use the dollar-pegged stablecoin USDC. The product does not provide ownership of the underlying 50 companies or represent an exchange-traded derivative issued by the NSE.
At maximum leverage of 20 times, a trader can control exposure worth roughly 20 times the collateral posted, which magnifies losses as well as returns. Perpetual contracts use funding mechanisms to keep trading prices aligned with reference markets, and FinanceFeeds noted that funding payments and price differences can become particularly important when the NSE market is closed. Trade.xyz restricts access from certain jurisdictions, including the United States, and the launch does not constitute authorization from the Securities and Exchange Board of India.
Trade.xyz operates markets through HIP-3, which lets independent developers deploy perpetual futures using Hyperliquid's trading infrastructure. The platform previously introduced exposure to US equities and major indices, including an officially licensed S&P 500 perpetual announced in March 2026. According to S&P Dow Jones Indices, Trade.xyz had exceeded $100 billion in cumulative trading volume by March. In September 2026, trade.xyz launched perpetual contracts for the iShares 20+ Year Treasury Bond ETF with up to 20x leverage and 24/7 trading, Panewslab reported.
Hyperliquid's Trading Scale
Hyperliquid is a decentralized exchange built on its own HyperCore Layer-1 blockchain, according to company records on akta.pro. The same records put daily volume at $5.3 billion and cite $172.6 billion in 30-day perpetual futures volume, about 32% of all on-chain perpetual activity. The records list a total user count of 2,202,951 and a January 2025 seed round with two investors. Hyperliquid was founded in 2023 and is headquartered in George Town, Cayman Islands.
Hyperliquid's Recent Product Rollouts
On October 26, 2026, Hyperliquid announced HIP-3*, an optional permissioned perpetual contract market feature with an on-chain allowlist, live on testnet, Panewslab reported. Payward plans to be the first CFTC-regulated deployer, using Hyperliquid to run markets for US customers via Bitnomial and NinjaTrader Clearing. The same day, MetaMask launched pre-IPO perpetual contracts for Anthropic on Hyperliquid, letting users trade without holding equity, Crypto Briefing reported. On October 25, 2026, Hyperliquid adjusted testnet operation priorities after user feedback and added a CDeposit2 interface supporting agent signatures, TradingView reported.