Hyperliquid Launches Bitcoin VIX Perpetual Futures

Hyperliquid has introduced perpetual futures linked to the Bitcoin Volatility Index (BVIV), a product designed to track 30-day implied volatility in Bitcoin’s price movements. The new instrument, deployed via Kinetiq’s Markets platform, allows traders to bet on the magnitude of Bitcoin’s price swings rather than its directional movement, eliminating the need for complex options strategies. This marks the first onchain perpetual futures market for the BVIV index, which mirrors the Cboe VIX—a benchmark for S&P 500 implied volatility—by measuring expected volatility over a 30-day horizon in real time. The launch follows a collaboration between Hyperliquid, Kinetiq Markets, Volmex, and Perps.fun, with Seda’s oracle infrastructure ensuring index accuracy on the exchange. Collateralized in USDC, the futures support up to 5x leverage at launch, catering to both hedgers and speculators. Hyperliquid, valued at over $90 billion, has become a dominant onchain perpetual futures platform, processing billions in daily trading volume, particularly during weekends when traditional markets are closed. The BVIV futures join Hyperliquid’s existing roster of perpetuals tied to crypto, equities, legacy indices, and commodities, further diversifying its offerings in derivative trading.