Most markets stop when their exchanges close. Our Perpetuals keep trading overnight and through weekends, powered by Hyperliquid.
In this post, you'll learn how:
24/7 trading changes what happens after the underlying market closes;
Hyperliquid provides live prices and visible order-book data;
Perpetuals differ from CFDs and traditional futures;
hourly funding and maker and taker fees work.
What 24/7 trading actually changes
Imagine that you are following a stock-based market and important news arrives two hours after its exchange has closed. Normally, you would have to wait for the next session before you could respond.
A perpetual contract continues trading. You can follow the changing price, see how other participants are reacting and decide whether the move fits your trading plan.
This does not mean every hour offers the same trading conditions. Liquidity can change outside the main session, so 24/7 access is not a reason to trade constantly. It simply gives you the option to act without waiting for the next opening bell.
What Hyperliquid adds
Hyperliquid provides the live prices and order-book data behind these markets.
A price chart shows where recent trades happened. The order book shows the bids and asks waiting at different price levels, together with the available liquidity.
Instead of seeing only the latest price, you can also inspect where orders are concentrated and how much market depth is available.
This transparency is one of the main reasons we chose Hyperliquid. Its market data is on-chain and publicly verifiable.
How Perpetuals work
Like CFDs, Perpetuals allow you to go long or short with leverage without owning the underlying asset. Trading a stock-based Perpetual does not make you a shareholder in that company.
The contract follows the movement of its market price, but it trades separately from the underlying exchange.
Unlike traditional futures, Perpetuals do not expire. There is no monthly or quarterly expiration date forcing the contract to be settled or rolled into a later one.
Hourly funding replaces the familiar daily swap
Without an expiration date, Perpetuals need another mechanism to help keep their price aligned with the underlying market. This is called funding.
Instead of the daily swap you may recognise from CFD trading, funding is exchanged between long and short positions every hour. Depending on the funding rate and the direction of your position, you may either pay or receive it.
Funding matters particularly when you hold a position for several hours. Check the current rate before entering instead of treating it as a cost you can think about later.
Maker and taker fees
Maker and taker describe what your order does to the available liquidity:
A maker order waits in the order book and adds liquidity.
A taker order executes immediately against an existing order and removes liquidity.
The fee therefore depends on how your order is executed, not simply on whether you buy or sell.
Where Perpetuals are available
Our Hyperliquid-powered Perpetuals went live on August 31, 2026.
The original lineup included Thunderbolt Classic, Phoenix Classic and Vanguard Instant Funding. We have since added Horizon and Odyssey, including one-step and two-step challenges with no consistency rule during evaluation or after funding.
What to check before opening a position
Before opening a position:
Check the liquidity. Look at the available depth instead of relying only on the latest price.
Review the funding rate. Know whether your position is currently expected to pay or receive funding.
Understand the fee. Check whether your order is likely to add or remove liquidity.
Define your risk. Decide your position size, invalidation level and maximum acceptable loss before entering.
Read the account rules. Make sure the trade fits the conditions of the Upcomers account you selected.
A market that stays open does not require you to stay in it. The advantage is not trading more often. It is having the choice to respond when a valid opportunity appears outside traditional market hours.