FAQ

Frequently asked questions about Paragon.

General

What is Paragon?

Paragon offers perpetual futures on crypto market indices (BTC.D, TOTAL2, OTHERS) on Hyperliquid. Trade the benchmarks you already follow with up to 50x leverage.

How is Paragon different from other index products?

Unlike spot index baskets or custom composites, Paragon offers:

• Perpetual futures — The native instrument for crypto traders

• Familiar benchmarks — The exact indices (BTC.D, TOTAL2) traders already reference

• Native Hyperliquid listing — No new venue, no fragmented liquidity

Who is behind Paragon?

Paragon is built by a team with low-latency and distributed systems DNA. We're product-obsessed and have been DeFi power users for years.

Trading

Where do I trade Paragon markets?

Directly on app.hyperliquid.xyz. Paragon markets are listed alongside all other Hyperliquid perpetuals.

What leverage is available?

Up to 50x leverage on all Paragon markets.

What are the trading fees?

Paragon markets follow Hyperliquid's standard fee schedule, with reduced rates for high-volume traders. See Fees for details.

How does funding work?

Funding rates are exchanged hourly between longs and shorts to keep perpetual prices aligned with the underlying index. Positive funding means longs pay shorts; negative funding means shorts pay longs.

Indices

What indices are available?

• BTC.D: Bitcoin's share of total market cap

• TOTAL2: Total crypto market cap excluding BTC

• OTHERS: Total market cap excluding top 10 assets

How are index values calculated?

Market cap indices sum the (price × circulating supply) of constituent assets. Dominance indices divide one market cap by total market cap. See Oracles for methodology.

How often are indices updated?

Index prices update in real-time (sub-second). Constituent rebalancing occurs daily.

Can I see the index constituents?

Yes. Constituent lists and weightings are published and auditable. See Oracles.

Technical

What is HIP-3?

HIP-3 is Hyperliquid's framework for third-party perpetual futures. It enables Paragon to deploy markets with native fee-sharing and direct listing on Hyperliquid's interface. See HIP-3 Integration.

Is there an API?

Yes. Paragon markets use the standard Hyperliquid API. See API Overview.

How reliable is the oracle?

The Paragon oracle network targets 99.99% uptime with redundant infrastructure, multiple data sources, and automatic failover.

Support

Where can I get help?

• Discord: Join Server for community support

• Twitter: @tradeparagon

I found a bug. How do I report it?

Report bugs in the Discord #support channel or DM a team member. For security issues, contact the team directly via Discord DM.