- Crypto perps against any collateral
- Perps on crypto indexes, ETFs, or other baskets of crypto assets
- Perps on mathematical combinations including crypto assets (e.g., BTC + X)
- Perps on vehicles or wrappers that hold primarily crypto assets (e.g. MSTR)
- Perps tracking gold, because PAXG-USDC already tracks gold price (e.g. Gold)
Trading
Fees
Standard Fees: Standard fees for all HIP-3 assets are currently 2x the usual fees on validator-operated perp markets, with 50% of those fees going to Hyperliquid and 50% to trade[XYZ].
Growth Mode: Growth mode may be enabled on certain assets. With growth mode, all-in fees are reduced by ≥90% from the standard fee rate, and both rebates and volume-contribution credits are also reduced by ≥90%.
The following are not eligible for growth mode:

