FAQ

Frequently asked questions about Paragon.

General

What is Paragon?

Paragon offers perpetual futures on crypto market indices (TOTAL2, BTC.D, OTHERS) on Hyperliquid. Trade the benchmarks you already follow with up to 20x 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 (TOTAL2, BTC.D) traders already reference

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

Who is behind Paragon?

Paragon is built by a team with experience in distributed systems, oracle infrastructure, and DeFi protocol development.

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 20x leverage on all Paragon markets.

What are the trading fees?

• Maker: 0.024%

• Taker: 0.08%

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?

• TOTAL2: Total crypto market cap excluding BTC

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

• OTHERS: Total market cap excluding BTC and ETH

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.

Token

Is there a Paragon token?

The $PARA token is planned for future launch. It will power a decentralized oracle network where validators stake tokens to participate in price reporting.

How can I stay updated on the token?

Follow @ParagonPerps on Twitter and join the Discord for announcements.

Support

Where can I get help?

• Discord: Join Server for community support

• Twitter: @ParagonPerps

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.