S Perpetual
What is the S perpetual?
The S perpetual (or “perp”) is a futures contract on Hyperliquid that tracks the price of Swith no expiry, so a position can be held indefinitely. It currently marks at $0.03062 with about $690.5K of open interest and $375.6K traded in the last 24 hours. Because it is leveraged, both gains and losses are amplified, and a move against a position can trigger liquidation.
How funding works on S
A perpetual stays tethered to spot through funding: a small payment exchanged between longs and shorts.S funding is currently +0.0013% per hour (+11.0% annualized), which means shorts are being paid right now. Funding shifts constantly with positioning, so a rich rate can flip. It is a real cost or income stream that any serious automated strategy has to account for on every hold.
How Hypertrade trades S
With Hypertrade you connect your own AI, Claude, GPT, Gemini, or a custom model, and it can propose Strades around the clock. Every proposal passes a deterministic risk engine that sizes the position, enforces a mandatory stop, caps leverage, and can veto the trade outright. Orders are signed by an agent trade-only permission that can trade but cannot authorize an external withdrawal. Your trading capital remains in your user-controlled account at the venue. It is discipline the AI can never override, not a black box and not a promise of returns.
Point your AI at S
Start free on testnet. Pick a model, set your limits, and let a disciplined engine handle execution while you retain owner withdrawal authority.
Other markets
Data sourced from Hyperliquid and refreshed periodically; figures may lag the venue. Trading perpetual futures involves substantial risk of loss and is not suitable for everyone. Nothing here is financial advice.