Volume 24h$9.5M↗ 0.78%24h
Open interest$15.1M↘ 2.07%24h
Markets33
Max leverage20x
Taker / maker0.009%/0.003%
BTC funding /8h—
BTC paid 30d—
Best price arb
Open pair →LONGtradeXYZ97.097
SHORTParagon97.787
Price arb here
all| UNITREE | short here, tradeXYZ | +0.711% | −$49 |
| CRDO | long here, BingX | +0.767% | −$65 |
| COHR | long here, BingX | +0.605% | −$88 |
| VST | long here, QFEX | +0.072% | −$89 |
Best funding arb
Open pair →LONGParagon−0.4540%1h56m 51s
SHORTApeX Omni+0.0100%1h56m 51s
Funding arb here
all| UNITREE | long here, ApeX Omni | +0.4640% | +$212 |
| GLW | short here, MEXC | +0.0309% | −$47 |
| COHR | short here, MEXC | +0.0060% | −$100 |
| CRDO | short here, QFEX | +0.0322% | −$108 |
| VST | long here, QFEX | +0.2086% | −$139 |
Markets
33 markets| Asset | Price | Funding /8h | Every | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|
| UNITREERWA para:UNITREE | 97.787 | −0.4540% | 1h | $2.6M | $997K | 10x |
| 10YRWA para:10Y | 4.8890 | +0.0687% | 1h | $1.7M | $159K | 20x |
| TTWORWA para:TTWO | 209.21 | +0.2275% | 1h | $1.5M | $289K | 10x |
| 2YRWA para:2Y | 4.5230 | +0.0057% | 1h | $1.0M | $44K | 20x |
| COHRRWA para:COHR | 161.41 | +0.0060% | 1h | $978K | $1.2M | 10x |
| CRDORWA para:CRDO | 113.14 | +0.0307% | 1h | $965K | $690K | 10x |
| GLWRWA para:GLW | 102.28 | +0.0309% | 1h | $641K | $38K | 10x |
| VSTRWA para:VST | 111.71 | −0.2087% | 1h | $617K | $792K | 10x |
| BTCDRWA para:BTCD | 60.326 | −0.0987% | 1h | $463K | $5K | 20x |
| OTHERSRWA para:OTHERS | 187.04 | +2.7840% | 1h | $388K | $599K | 10x |
| 30YRWA para:30Y | 5.3290 | +0.0383% | 1h | $354K | $6K | 20x |
| TOTAL2RWA para:TOTAL2 | 1,003.5 | +0.4584% | 1h | $349K | $819K | 20x |
| TREADRWA para:TREAD | 0.9518 | +0.4198% | 1h | $308K | $46K | 5x |
| CIFRRWA para:CIFR | 5.1503 | +0.5416% | 1h | $303K | $705K | 10x |
| GDXRWA para:GDX | 82.985 | +1.1882% | 1h | $257K | $309K | 10x |
| AVGORWA para:AVGO | 295.05 | +0.4591% | 1h | $243K | $35K | 10x |
| IRENRWA para:IREN | 17.265 | +0.0060% | 1h | $234K | $325K | 10x |
| RDDTRWA para:RDDT | 91.900 | −0.6196% | 1h | $201K | $21K | 10x |
Before you deposit
- LiquidityMedium$15.1M open interest
- Real volumeNormalvolume is 0.6x open interest a day
- Book depthNo data
- KYCNoneNo ID, traded through Hyperliquid front ends; not for US persons or a long list of restricted countries, VPNs forbidden.
Key facts
About Paragon
Paragon is a decentralized perpetual futures exchange on Hyperliquid L1. It lists 33 active markets, traded $9.5M in the last 24 hours and holds $15.1M in open interest, #40 among the perp DEXs we track.
Funding settles every 1h.
News from Paragon
all| 10-27 13:27 | Listing | Anthropic ($ANTH) is now trading 24/7 on Hyperliquid. Up to 10x leverage. Anthropic is the AI research company behind Claude. $ANTH is a pre-listing perpetual, pricing Anthropic ahead of its public listing. Trade now on Hyperliquid: @tradeparagon on X ↗ |
| 10-27 11:24 | Listing | new market para:ANTH ($ANTHROPIC) seen by our collector |
| 10-25 01:05 | Listing | para:PAPER no longer reported ($PAPER) seen by our collector |
| 10-23 19:07 | Product | Unitree closed at its 20% daily limit in Shanghai today, its first limit-up since the August listing, two days after introducing the H2-X. Shanghai is closed until Monday, $UNITREE trades 24/7 on Hyperliquid. Up to 10x leverage. Trade now on Hyperliquid: @tradeparagon on X ↗ |
| 10-20 13:00 | Listing | Derive ($DRV) is now trading 24/7 on Hyperliquid. 5x leverage. DRV is the native token of @DeriveXYZ, which offers onchain crypto options and perps. Trade now on Hyperliquid: @tradeparagon on X ↗ |
| 10-20 12:27 | Listing | new market para:DRV ($DRV) seen by our collector |
| 10-19 22:35 | Listing | para:PAPER has been halted and settled. The @papertrade_xyz launch plan, published October 1, included a phase in which PAPER would become transferable. para:PAPER was listed as a pre-launch perp on that basis, with the expectation that it would convert to a standard perp once a spot market became available. Papertrade announced today that they do not intend to make $PAPER transferable. The pre-launch perp relied on the expectation that its underlying will eventually trade. Traders took positions based on a public roadmap that supported that expectation. With it removed, there is no future spot price for the market to converge to. We halted para at 22:31:15 UTC immediately following the announcement rather than schedule a later closure. This established a common cutoff for all open positions and a consistent basis for settlement, limiting the impact of trading around the announcement. All open positions were settled at $0.026296, calculated as the time-weighted average oracle price over the hour ending at the halt, using the same one-hour averaging window as Hyperliquid’s validator-led delistings for HyperCore perps. All open orders were cancelled. Remaining margin has been released, and realized PnL is reflected in account balances. No action is required from traders. Should PAPER’s transferability plans change, we will review whether the market can be unhalted. @tradeparagon on X ↗ |
| 10-18 11:10 | Listing | PAPER is now trading 24/7 on Hyperliquid. $PAPER is the native token of @papertrade_xyz, a synthetic perpetuals platform on HyperEVM, minted to traders from realized losses and stakeable for a share of platform fees. The contract trades as a Pre-Launch perp that converts to a normal perp. @tradeparagon on X ↗ |
Volume
$10.6M↗ 13.0%90D
Open interest
$16.2M↗ 127.1%90D
Table, every 3rd day
| Day | Volume | Open interest | Share of DEX volume |
|---|---|---|---|
| Nov 4, 2026 | $10.6M | $16.2M | 0.0% |
| Nov 1, 2026 | $1.1M | $15.1M | 0.0% |
| Oct 29, 2026 | $5.0M | $14.8M | 0.0% |
| Oct 26, 2026 | $8.8M | $17.1M | 0.0% |
| Oct 23, 2026 | $5.5M | $16.8M | 0.0% |
| Oct 20, 2026 | $6.2M | $16.3M | 0.0% |
| Oct 17, 2026 | $1.6M | $15.6M | 0.0% |
| Oct 14, 2026 | $7.1M | $15.2M | 0.0% |
| Oct 11, 2026 | $1.1M | $17.8M | 0.0% |
| Oct 8, 2026 | $8.0M | $18.6M | 0.0% |
| Oct 5, 2026 | $5.5M | $22.4M | 0.0% |
| Oct 2, 2026 | $8.7M | $21.5M | 0.0% |
| Sep 29, 2026 | $5.6M | $18.9M | 0.0% |
| Sep 26, 2026 | $3.2M | $17.8M | 0.0% |
| Sep 23, 2026 | $5.0M | $17.3M | 0.0% |
| Sep 20, 2026 | $1.2M | $16.4M | 0.0% |
| Sep 17, 2026 | $6.4M | $15.1M | — |
| Sep 14, 2026 | $5.7M | $14.5M | — |
| Sep 11, 2026 | $3.8M | $15.4M | — |
| Sep 8, 2026 | $5.0M | $16.3M | — |
| Sep 5, 2026 | $1.3M | $15.4M | — |
| Sep 2, 2026 | $5.3M | $13.6M | — |
| Aug 30, 2026 | $1.2M | $12.9M | — |
| Aug 27, 2026 | $3.7M | $13.2M | — |
| Aug 24, 2026 | $5.1M | $12.1M | — |
| Aug 21, 2026 | $10.3M | $12.4M | — |
| Aug 18, 2026 | $5.1M | $11.6M | — |
| Aug 15, 2026 | $1.4M | $9.5M | — |
| Aug 12, 2026 | $4.2M | $8.6M | — |
| Aug 9, 2026 | $763K | $8.2M | — |
Volume by asset class
daily, last 90 daysTable, every 3rd day
| Day | Crypto | Stocks | Pre-IPO | Other RWA | Total |
|---|---|---|---|---|---|
| Nov 4, 2026 | $206K | $6.6M | $200K | $3.6M | $10.6M |
| Nov 1, 2026 | $16K | $362K | $2K | $462K | $843K |
| Oct 29, 2026 | $194K | $3.6M | $4K | $1.0M | $4.8M |
| Oct 26, 2026 | $78K | $7.6M | — | $2.1M | $9.8M |
| Oct 23, 2026 | $43K | $4.7M | — | $665K | $5.4M |
| Oct 20, 2026 | $186K | $4.4M | — | $1.5M | $6.1M |
| Oct 17, 2026 | — | $1.1M | — | $563K | $1.6M |
| Oct 14, 2026 | — | $3.3M | — | $3.7M | $7.0M |
| Oct 11, 2026 | — | $191K | — | $927K | $1.1M |
| Oct 8, 2026 | — | $6.1M | — | $1.9M | $8.0M |
| Oct 5, 2026 | — | $3.6M | — | $2.4M | $6.0M |
| Oct 2, 2026 | — | $6.0M | — | $2.1M | $8.1M |
| Sep 29, 2026 | — | $1.8M | — | $3.6M | $5.3M |
| Sep 26, 2026 | — | $425K | — | $2.8M | $3.2M |
| Sep 23, 2026 | — | $2.8M | — | $2.3M | $5.1M |
| Sep 20, 2026 | — | $512K | — | $664K | $1.2M |
| Sep 17, 2026 | — | $3.3M | — | $3.3M | $6.5M |
| Sep 14, 2026 | — | $4.8M | — | $936K | $5.8M |
| Sep 11, 2026 | — | $2.4M | — | $1.5M | $3.9M |
| Sep 8, 2026 | — | $3.9M | — | $1.3M | $5.2M |
| Sep 5, 2026 | — | $374K | — | $1.0M | $1.4M |
| Sep 2, 2026 | — | $4.4M | — | $975K | $5.4M |
| Aug 30, 2026 | — | $603K | — | $756K | $1.4M |
| Aug 27, 2026 | — | $2.3M | — | $1.4M | $3.7M |
| Aug 24, 2026 | — | $4.2M | — | $1.1M | $5.3M |
| Aug 21, 2026 | — | $8.9M | — | $1.4M | $10.3M |
| Aug 18, 2026 | — | $5.0M | — | $87K | $5.1M |
| Aug 15, 2026 | — | $736K | — | $629K | $1.4M |
| Aug 12, 2026 | — | $4.2M | — | $14K | $4.2M |
| Aug 9, 2026 | — | $734K | — | $281K | $1.0M |