By community request, Hyperliquid has listed LIT-USDC hyperps. You can now long or short the unlaunched Lighter token with up to 3x leverage.

As a reminder, hyperps do not rely on any external data for the oracle price. Hyperps trade like perpetual contracts that users are familiar with, but do not require an external spot or index oracle price. Instead, the funding rate is determined relative to a moving average of the hyperp mark price. This makes the hyperp price more stable and less susceptible to manipulation, unlike usual pre-launch futures. When trading hyperps, funding rates are important to consider. If there is heavy price momentum in one direction, funding will heavily incentivize positions in the opposite direction for the next eight hours. As always, be sure to understand the contract before trading. Trading is on low leverage and isolated margin only. Beware of low liquidity, high volatility, potentially extreme funding, and increased liquidation risk. Note: LIT-USDC will convert to a vanilla perp upon CEX listing. See Docs for more. LIT-USDC is a hyperp contract that poses higher than normal risk. Do not trade contracts you are unfamiliar with and do not understand the risks for. Read the Docs to learn more about the hyperp mechanism and how it differs from vanilla perps. NFA. app.hyperliquid.xyz/trade/LIT