HIP-3

HIP-3 is Hyperliquid's standard for builder-deployed perpetual markets. Rather than every perpetual being listed by the core exchange, a builder can deploy its own perp DEX on HyperCore. Each HIP-3 DEX is a separate venue with its own clearinghouse and margin state, and its assets carry the deploying DEX's prefix, so a market is identified as dex:ASSET rather than by the asset alone.

What follows from the prefix​

Because each DEX has its own clearinghouse, balances and margin are per DEX, not one pool across all HIP-3 markets. A deposit to one builder's DEX does not back a position on another builder's DEX. Within one DEX, positions share collateral under unified margin. This is a different mechanism from Hyperliquid's account abstraction modes, which organise how one account's balances are presented, and the two are easy to confuse.

What trades there​

HIP-3 is how exposure to assets outside the crypto core set is offered as perpetuals on Hyperliquid: equities, indices, commodities and currencies, listed by builders rather than by the exchange itself. These are perpetual contracts on those prices, not the underlying shares or barrels.

How BT365 uses it​

BT365 routes HIP-3 orders by the full prefixed coin, keeps each DEX's state separate when reading balances and positions, and resolves the symbol to the venue's asset index at order time. The platform's own description of the markets it lists, including which builders' DEXs, is in the prediction markets and perps overview and the technical overview.

BT365 is not available in every jurisdiction, and nothing on this page is investment advice. Trading perpetual futures carries risk of loss.