

Website: https://trade.xyz/
Twitter: https://x.com/tradexyz
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TradeXYZ, launched in 2025 on Hyperliquid, uses HIP-3 to bridge TradFi and DeFi. It offers 24/7 cross-asset perps, flagship indices like XYZ100, and spot markets, enabling users to hedge, trade leveraged strategies, and build custom apps via Hyperliquid APIs
TradeXYZ outperforms competitors by offering stock and crypto perps with zero fees, 10x leverage, and Hyperliquid’s unmatched L1 speed, making it one of the most accessible TradFi-to-DeFi bridges
TradeXYZ’s mostly pseudonymous team, connected to Hyperliquid contributors, is self-funded through the Hyperliquid ecosystem, with growth boosted by HIP-3 grants and other ecosystem incentives
The platform prioritizes Hyperliquid users with over $5M traded. Early users could be eating good, so join the waitlist before the public launch!
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TradeXYZ was built to solve crypto’s major trading pain points, including limited assets and high entry barriers, with the goal of giving users access to global markets
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Perpetual: Cross-asset perpetual futures with up to 10x leverage on BTC, ETH, TSLA, NVDA, trading 24/7 via Hyperliquid’s orderbook
Equities (XYZ100): Flagship synthetic index of 100 top assets with dynamic OI caps (e.g., $100M in Oct 2025) to manage risk and liquidity
Spot: Spot markets via the Unit Protocol let users trade tokenized native-chain assets on Hyperliquid separately from perps, though they can’t be used as perp collateral
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Cross-Asset Hedging: XYZ100 perps enable diversification across stocks, commodities, and forex, minimizing conversion risks
High-Frequency & Leveraged: Up to 10x leverage and deep liquidity support day trading and arbitrage with minimal slippage
Global Access: Enables borderless trading with crypto collateral, reaching users with limited TradFi access
Retail & Institutional Trading: 24/7 access to equities and crypto, ideal for overnight hedging or NVDA speculation, without exchange hours or fiat ramps
DeFi Composability: Hyperliquid APIs let developers create custom apps, like trading bots or perp-based yield strategies
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Lighter is a high-performance Ethereum ZK-rollup offering millisecond latency, near-zero fees, and tens of thousands of orders per second with custom ZK circuits for on-chain transparency and security, having raised $89M from top-tier investors including Founders Fund, Ribbit Capital, Robinhood, and Haun Ventures
Drift Protocol, Solana’s perp DEX, offers CEX-like speed (100ms finality), cross-margin trading, deep liquidity, low fees, and yield-bearing deposits, with a current FDV of around $300M
Ostium Labs is an Arbitrum-based RWA perp platform offering up to 200x leverage, and Polymarket integration, capturing ~10% of DEX RWA perp volume in 2025, and raised $3.5M from notable investors including Balaji

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TradeXYZ’s team is mostly pseudonymous, linked to Hyperliquid contributors, with a small core focused on engineering and outreach via support channels
Self-funded via Hyperliquid ecosystem, with growth driven by HIP-3 grants and ecosystem incentives
Scalability limited by waitlist and OI caps (e.g., $100M XYZ100, $25M NVDA/TSLA) to prevent liquidations
Synthetic perps on assets like TSLA face potential SEC scrutiny as unregistered securities
High 10x leverage and dependence on Hyperliquid increase exposure to volatility, downtime, etc
Competition includes Ethereum/Solana-based perps and centralized platforms with wider TradFi offerings
I think the biggest value prop is how TradeXYZ brings real Wall Street assets directly into Main Street wallets, 24/7, leveraged, permissionless trading feels like a real unlock
Seeing $1.3B+ volume in just three weeks honestly surprised me. Combined with Hyperliquid’s rock-solid infra and the pace they’re expanding assets, I think they’re well-positioned to ride the next DeFi growth wave
I also really like their RWA-first design and OI risk control, this is what makes them stand out as the most resilient and scalable synthetic asset platform
Compared to competitors, I personally feel TradeXYZ clearly outshines Ostium’s high fees, Lighter’s ZK overhead, and Drift’s crypto-only focus. For retail and institutional stock perps, it’s hard to find a better fit
And with their early-access setup, and strong airdrop speculation, I think early users are getting meaningful upside. Public launch is almost here, if you want in, now’s the time to join the waitlist
Chung
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