A familiar asset name is not enough to identify a derivative contract.
Markets deployed by builders
HIP-3 allows builders to deploy perpetual markets on Hyperliquid. The deployer defines important market details and operates the price reference and market parameters within the protocol’s framework.
This makes more kinds of price exposure possible, but the asset name alone does not tell you how a particular contract behaves.
Read the full identity
A prefixed symbol such as xyz:TSLA identifies a builder-specific market. Keep the prefix when searching or sharing a link. A short display ticker can hide a distinction that matters for funding, collateral, liquidity, and execution.
Read the contract description and builder information. Check what the oracle measures, when its source updates, and what happens during closures or disruptions.
Availability is market-specific
Do not assume that a market exists because another platform lists an asset with the same name. Open HYPE’s current market list and inspect the actual available contract.
Review leverage limits, permitted margin modes, and collateral requirements individually. A crypto perp and a stock-linked perp may appear in the same interface while having meaningfully different reference-price and market-operation risks.
Two similar names
Two builders could offer exposure associated with the same company. Different reference definitions or liquidity can make their prices and costs diverge. Treat each full contract identity as its own market.
Illustrative figures only. Not a price forecast or trade recommendation.Further reading
Protocol details and market rules can change. Check the current specification before trading.
Educational content, not investment advice. Trading perpetuals can result in substantial loss. Market access is subject to eligibility and location. Product disclosures.