fomo and trade[XYZ]

At a glance Trading venue (perps)

Link to fomo

Deploys the xyz markets on Hyperliquid that fomo lists for stock, index, commodity and FX perps

Since

June 11, 2026

Official site

trade.xyz

What trade[XYZ] is

trade[XYZ] says it deploys “novel financial primitives and trading experiences on Hyperliquid that extend the range of assets and events that can be traded.” Its perps run under Hyperliquid’s HIP-3, an upgrade that lets an outside team deploy and run its own perp markets on Hyperliquid’s order book; trade[XYZ]‘s deployment is named xyz. The team sets each market’s listing, price inputs (oracles) and leverage limits, while Hyperliquid’s engine matches and settles the trades. trade[XYZ] also runs its own website interface, which it says “is not the exclusive way to access trade[XYZ] markets”. fomo is one of the other ways.

fomo’s perps launch post on June 11, 2026 said perpetuals were “powered by Hyperliquid and Trade[XYZ]”.

What fomo lists from xyz

fomo’s help centre groups its perps the way the app’s Perps tab does. Its count from November 4, 2026:

Group	Markets	Examples
Stocks	101	AAPL, NVDA, TSLA, MSFT, COIN, HOOD
Commodities	9	GOLD, SILVER, WTIOIL, BRENTOIL, NATGAS
Indices	5	S&P500, XYZ100, JP225, KR200, NIFTY
FX	3	EURUSD, GBPUSD, USDJPY
Pre-IPO	2	ANT, OURA

On November 10, 2026, Hyperliquid’s API showed 122 live markets on the xyz deployment, out of 144 in its listing. fomo says a market the venue delists is removed from fomo as well. The xyz deployment as a whole, across every app and trader, did about $4.8B of volume in the 24 hours before we checked; that figure is not fomo’s share.

How the fees differ

There are three layers on an xyz trade through fomo:

1. fomo’s fee: up to 0.05% of position size per trade, the same as on crypto perps.
2. Hyperliquid’s HIP-3 fee: trade[XYZ]‘s docs say standard fees on HIP-3 assets are “2x the usual fees on validator-operated perp markets”, with half going to Hyperliquid and half to trade[XYZ].
3. Growth mode: on some markets “all-in fees are reduced by ≥90% from the standard fee rate.” Crypto perps, crypto baskets, crypto wrappers such as MSTR, and gold are excluded.

That is why fomo tells perps traders the combined rate on the order screen is the one to go by. Funding, the hourly payment between longs and shorts, is separate.

Not the same as tokenized stocks

fomo has two very different ways to get exposure to a stock. xyz perps are leveraged contracts on Hyperliquid, closed to US persons, and can be liquidated. Tokenized stock tokens are spot tokens on Robinhood Chain, blocked by connection location in the US, Canada, the UK and Switzerland. See Robinhood Chain for the tokens and Hyperliquid for the perps account itself.