> ## Documentation Index
> Fetch the complete documentation index at: https://tokenterminal.com/docs/llms.txt
> Use this file to discover all available pages before exploring further.

> ## Agent Instructions
> To query the Token Terminal data catalog, read https://tokenterminal.com/docs/catalog/agents-manual.md first. It is the whole catalog as one page: table naming grammar, key columns, partition and cluster rules, units, additivity, and the tables that are documented but not served yet.
> Never query a catalog table on a time bound alone. Also filter its cluster key, which you read from INFORMATION_SCHEMA.COLUMNS; an empty result means the object is a view, whose pruning contract is on its page. Compute is billed to the caller's own Google Cloud project.

# Perpetuals

> Every perpetual and order-book market: trades, open interest, funding and liquidations, across every venue.

Trades, open interest, funding, liquidations and fees for every perpetual and order-book market Token Terminal tracks, from the project down to the individual market and the token it settles in.

## Coverage

A tab per grain, then the events and the chains. Each tab says what one row is, and a tick marks every app that reports it.

**Project**

A project is the business behind the venue, such as `hyperliquid`. One row per project per day, every app and chain together.

<table>
  <thead>
    <tr>
      <th width="230">App</th>
      <th width="140">Project</th>
      <th>Exchange notional volume</th>
      <th>Interface notional volume</th>
      <th>Trading volume</th>
      <th>Fees</th>
      <th>Supply-side fees</th>
      <th>Revenue</th>
    </tr>
  </thead>

  <tbody>
    <tr><td>`dreamcash-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`entropyio-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`felix-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`hyena-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`hyperliquid-outcome-markets`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`hyperliquid-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`hyperliquid-spot`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`kinetiq-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`paragon-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`tradexyz-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`ventuals-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
  </tbody>
</table>

**App**

An app is one deployed venue or interface, such as `hyperliquid-perps`. One row per app per day, across every chain it runs on.

<table>
  <thead>
    <tr>
      <th width="230">App</th>
      <th width="140">Project</th>
      <th>Interface notional volume</th>
      <th>Trading volume</th>
      <th>Fees</th>
      <th>Supply-side fees</th>
      <th>Revenue</th>
    </tr>
  </thead>

  <tbody>
    <tr><td>`dreamcash-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✗</td><td>✗</td><td>✗</td><td>✗</td></tr>
    <tr><td>`entropyio-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✗</td><td>✗</td><td>✗</td><td>✗</td></tr>
    <tr><td>`felix-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✗</td><td>✗</td><td>✗</td><td>✗</td></tr>
    <tr><td>`hyena-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✗</td><td>✗</td><td>✗</td><td>✗</td></tr>
    <tr><td>`hyperliquid-outcome-markets`</td><td>`hyperliquid`</td><td>✗</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`hyperliquid-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✗</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`hyperliquid-spot`</td><td>`hyperliquid`</td><td>✗</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`kinetiq-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✗</td><td>✗</td><td>✗</td><td>✗</td></tr>
    <tr><td>`paragon-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✗</td><td>✗</td><td>✗</td><td>✗</td></tr>
    <tr><td>`tradexyz-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✗</td><td>✗</td><td>✗</td><td>✗</td></tr>
    <tr><td>`ventuals-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✗</td><td>✗</td><td>✗</td><td>✗</td></tr>
  </tbody>
</table>

**Perp market**

A perpetual market is a contract that tracks a price and never expires, such as Hyperliquid's `BTC Perpetual`. One row per market per day.

<table>
  <thead>
    <tr>
      <th width="230">App</th>
      <th width="140">Project</th>
      <th>Notional volume</th>
      <th>Open interest</th>
      <th>Funding rate</th>
      <th>Liquidations</th>
      <th>Active traders</th>
      <th>Fees</th>
      <th>Revenue</th>
    </tr>
  </thead>

  <tbody>
    <tr><td>`dreamcash-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`entropyio-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`felix-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`hyena-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`hyperliquid-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`kinetiq-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`paragon-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`tradexyz-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`ventuals-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`mux-perps`</td><td>`mux`</td><td>✗</td><td>✗</td><td>✗</td><td>✓</td><td>✗</td><td>✗</td><td>✗</td></tr>
  </tbody>
</table>

**Perp market token**

A perpetual market token is one market paired with the token its positions settle in, such as `BTC Perpetual` settled in `USDC`. One row per market and settlement token per day.

<table>
  <thead>
    <tr>
      <th width="230">App</th>
      <th width="140">Project</th>
      <th>Notional volume</th>
      <th>Fees</th>
      <th>Supply-side fees</th>
      <th>Revenue</th>
    </tr>
  </thead>

  <tbody>
    <tr><td>`dreamcash-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`entropyio-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`felix-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`hyena-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`hyperliquid-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`kinetiq-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`paragon-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`tradexyz-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`ventuals-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
  </tbody>
</table>

**Order book market**

An order-book market is a cash market where the token itself changes hands through a book of resting orders, such as Hyperliquid's `HYPE/USDC` spot book. One row per market per day.

<table>
  <thead>
    <tr>
      <th width="230">App</th>
      <th width="140">Project</th>
      <th>Trading volume</th>
      <th>Fees</th>
      <th>Supply-side fees</th>
      <th>Revenue</th>
    </tr>
  </thead>

  <tbody>
    <tr><td>`hyperliquid-outcome-markets`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`hyperliquid-spot`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
  </tbody>
</table>

**Order book market token**

An order-book market token is one market paired with the token it quotes in, such as `HYPE/USDC` quoted in `USDC`. One row per market and quote token per day.

<table>
  <thead>
    <tr>
      <th width="230">App</th>
      <th width="140">Project</th>
      <th>Trading volume</th>
      <th>Fees</th>
      <th>Supply-side fees</th>
      <th>Revenue</th>
    </tr>
  </thead>

  <tbody>
    <tr><td>`hyperliquid-outcome-markets`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
    <tr><td>`hyperliquid-spot`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✓</td><td>✓</td></tr>
  </tbody>
</table>

**Events**

One row per trade or liquidation fill, at the moment it happened onchain. Sizes are in units of the underlying asset; execution prices are in the HyperCore settlement token or in USD on MUX.

<table>
  <thead>
    <tr>
      <th width="260">App</th>
      <th width="150">Project</th>
      <th>Perpetual trades</th>
      <th>Liquidations</th>
      <th>Order book trades</th>
    </tr>
  </thead>

  <tbody>
    <tr><td>`dreamcash-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✗</td></tr>
    <tr><td>`entropyio-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✗</td></tr>
    <tr><td>`felix-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✗</td></tr>
    <tr><td>`hyena-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✗</td></tr>
    <tr><td>`hyperliquid-outcome-markets`</td><td>`hyperliquid`</td><td>✗</td><td>✗</td><td>✓</td></tr>
    <tr><td>`hyperliquid-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✗</td></tr>
    <tr><td>`hyperliquid-spot`</td><td>`hyperliquid`</td><td>✗</td><td>✗</td><td>✓</td></tr>
    <tr><td>`kinetiq-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✗</td></tr>
    <tr><td>`paragon-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✗</td></tr>
    <tr><td>`tradexyz-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✗</td></tr>
    <tr><td>`ventuals-perps`</td><td>`hyperliquid`</td><td>✓</td><td>✓</td><td>✗</td></tr>
    <tr><td>`mux-perps`</td><td>`mux`</td><td>✓</td><td>✓</td><td>✗</td></tr>
  </tbody>
</table>

**Chains**

Every chain the section covers.

<table>
  <thead>
    <tr>
      <th width="170">Chain</th>
      <th>Apps</th>
    </tr>
  </thead>

  <tbody>
    <tr><td>`arbitrum`</td><td>`mux-perps`</td></tr>
    <tr><td>`avalanche`</td><td>`mux-perps`</td></tr>
    <tr><td>`bsc`</td><td>`mux-perps`</td></tr>
    <tr><td>`fantom`</td><td>`mux-perps`</td></tr>
    <tr><td>`hypercore`</td><td>`dreamcash-perps`, `entropyio-perps`, `felix-perps`, `hyena-perps`, `hyperliquid-outcome-markets`, `hyperliquid-perps`, `hyperliquid-spot`, `kinetiq-perps`, `paragon-perps`, `tradexyz-perps`, `ventuals-perps`</td></tr>
    <tr><td>`optimism`</td><td>`mux-perps`</td></tr>
  </tbody>
</table>

## Tables

[Metrics](https://tokenterminal.com/docs/catalog/perpetuals/metrics.md) holds the daily table schemas at each grain and example queries. [Registry](https://tokenterminal.com/docs/catalog/perpetuals/registry.md) holds the identity tables for both market kinds.

Each event has its own page and its own table: [Trades](https://tokenterminal.com/docs/catalog/perpetuals/trades.md) and [Liquidations](https://tokenterminal.com/docs/catalog/perpetuals/liquidations.md).


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