FAQ

Frequently asked questions about Paragon.

General

What is Paragon?

Paragon lists perpetual futures across asset classes on Hyperliquid — crypto market indices (BTC.D, TOTAL2, OTHERS) and single-name equities, with more classes to come. Trade the benchmarks and assets you already follow, with 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 and assets - The indices and stocks 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?

Leverage varies by market, up to 20x. See the market specifications for each market's maximum.

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. Positive funding means longs pay shorts; negative funding means shorts pay longs. Each market applies a funding multiplier that scales the rate — see Funding Rates.

Markets

What markets are available?

• Crypto indices: BTC.D, TOTAL2, OTHERS
• Equities: single-name stocks, with more to come

See the market specifications for each market's parameters.

How do equity perpetuals work?

Equity perps give cash-settled, leveraged exposure to a single stock — no brokerage account or share custody, and no ownership, voting, or dividend rights. The contract trades 24/7 on Hyperliquid; the external price feed runs during market sessions, and outside them the mark is bounded internally. See Equities.

How are crypto 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 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 Methodology.

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?

• Support Bot: Open a ticket via the Paragon Support Bot on Telegram
• Discord: Join Discord for community support
• Telegram: Join Group
• Twitter: @tradeparagon

I found a bug. How do I report it?

Open a support ticket through the Paragon Support Bot on Telegram. You can also report bugs in the Telegram group or DM a team member. For security issues, contact the team directly via Telegram DM.