LAB — TRADFI
TradFi perps
The screener's tradfi tab reads perpetuals on stocks, indices, commodities and FX from trade.xyz. This page is the part a table cannot carry: where the numbers come from, what was checked, and what was not.
Open the tradfi tab →Where it comes from
trade.xyz is a builder-deployed perp DEX on Hyperliquid, so its markets sit on the same public API as the crypto perps we already read — one dex parameter apart, no key, no export. Prices, funding, open interest and volume are live. The category tree and the per-market open interest cap are not on that API and come from a trade.xyz export, refreshed by hand.
| market | n | 24h |
|---|---|---|
| Stocks | 72 | $5.48B |
| Indices / ETFs | 12 | $1.76B |
| Commodities | 8 | $619.3M |
| — | 1 | $75.2M |
| FX | 3 | $28.8M |
Funding here is hourly
This is the one number a reader would reasonably assume transfers from the crypto side, and it does not. Crypto perps settle funding every 8 hours; these settle every hour — measured from consecutive funding stamps, not taken from a document. Annualising with the crypto convention reports 0.30% where the answer is 2.43%: wrong by a factor of eight, and plausible enough that nobody would query it. That is why this is a separate product rather than extra rows.
What was verified
Comparing mark price to oracle price proves nothing — both come from the same venue, so a broken oracle would agree with itself. Three markets have a crypto-native twin priced by an unrelated pipeline, which makes a real check possible:
| market | twin | oracle | independent | drift |
|---|---|---|---|---|
| GOLD | PAXG | 4,105.4000 | 4,100.4487 | +0.12% |
| GOLD | XAUT | 4,105.4000 | 4,096.6713 | +0.21% |
| EUR | EURC | 1.1532 | 1.1525 | +0.06% |
The check is re-run rather than remembered, so a later drift fails there instead of on the page.
What was not
This covers 3 of 88 markets. The 72 equity markets have no on-chain twin and are not tested. What the check establishes is that the venue's oracle layer tracks its underlying — not that every listing is right.
What is excluded
15 listed markets have no open interest and no volume. Their mark price equals the previous close, so they would render as a flat 0.00% — which reads as a calm market and is an absent one. They are dropped and named rather than shown:
ALUMINIUM, CORN, DXY, GEV, H100, IBIDEN, IBOV, KRW, KSTR, NIFTY, TTF, URANIUM, VIX, VOL, WHEAT
Universe drift
The live market list runs ahead of the categorisation export. Anything trading but uncategorised is named by the builder rather than shown with an empty category:
CXMT