Overview

Trade crypto market indices as perpetual futures on Hyperliquid.

Markets

Index	Type	Description
BTC.D	Dominance	Bitcoin's % of total market cap
TOTAL2	Market Cap	Total crypto excluding BTC
OTHERS	Market Cap	Total crypto excluding top 10 assets

→ Full market details

Mechanics

Paragon inherits Hyperliquid's standard perpetual mechanics:

Parameter	Value
Max Leverage	50x
Collateral	USDC
Settlement	Perpetual (no expiry)
Funding	Hourly

→ Hyperliquid Trading Docs

Trading Strategies

Directional

• Long TOTAL2 for altcoin bull thesis

• Short OTHERS to fade small-cap rallies

Dominance

• Long BTC.D for Bitcoin outperformance

• Short BTC.D during alt season rotation

Hedging

• Short index to hedge spot portfolio beta

• Reduce directional exposure without selling

Relative Value

• Long BTC.D + short BTC for pure dominance play

• Pair TOTAL2 vs OTHERS for large-cap vs small-cap spread

Getting Started

1. Access — Go to app.hyperliquid.xyz

2. Find markets — Search for BTC.D, TOTAL2, or OTHERS

3. Trade — Use standard order types (market, limit, stop)

→ Order Types | Margining | Fees