Key Highlights
- Kalshi introduced HYPE perpetual futures following CFTC regulatory clearance, offering zero fees temporarily.
- HYPE token rallied more than 10%, touching $59.40 after the platform announcement.
- Open interest in HYPE futures rose 11% to reach $2.49 billion, surpassing XRP’s futures open interest.
- Spot ETF products saw inflows totaling $2.78 million on Wednesday, marking the second consecutive positive day.
- Kalshi’s roadmap includes perpetual futures for DOGE, XLM, SHIB, HBAR, and additional tokens soon.
On Thursday, Kalshiāa regulated US-based prediction market platformāconfirmed that perpetual futures contracts for Hyperliquid (HYPE) are now available for trading. The rollout follows official regulatory clearance from the US Commodity Futures Trading Commission (CFTC).
These HYPE perpetual contracts are accessible to traders within the United States and feature no expiration date. To attract early adopters, Kalshi has waived trading fees for an introductory period, with immediate access and no waitlist requirements.
The listing forms part of Kalshi’s expanding “American Perpetuals” suite, which delivers CFTC-supervised perpetual futures to US-based traders. Recent launches under this initiative included Solana and XRP perpetuals, with HYPE now joining the roster.
The CFTC maintains an individual review process for each contract before granting approval. Thursday’s authorization for HYPE represents the continuation of this regulatory framework.
Kalshi and Hyperliquid share a strategic partnership. The platforms previously worked together on the HIP-4 infrastructure enhancement and have been mutually extending into complementary market segments.
HYPE Token Posts Double-Digit Gains
The HYPE token climbed more than 10% in response to Kalshi’s announcement, reaching an intraday peak of $59.45. At press time, the asset was changing hands around $59.40, recovering from an earlier low near $52.70.
Futures open interest for HYPE expanded by 11% over the past 24 hours, reaching $2.49 billion. This growth propelled HYPE past XRP in aggregate futures open interest rankings for the day. Trading activity has intensified across major exchanges including Binance, OKX, and Bybit.
CoinGlass data indicates HYPE funding rates are currently positive at 0.006%. Positive funding rates occur when long position holders compensate short position holders, typically reflecting optimistic market sentiment. The long-to-short ratio currently stands at 1.09, approaching monthly highs.
ETF Activity and Chart Analysis
HYPE spot ETF products registered $2.78 million in net inflows on Wednesday, representing the second day of positive flows this week according to SoSoValue tracking.
From a technical perspective, HYPE is maintaining support above its 50-day exponential moving average (EMA) positioned at $53.47. The Relative Strength Index (RSI) reads approximately 46 on the daily timeframe, while the MACD indicator continues trading below zero, indicating the market remains in consolidation mode.
The immediate resistance level aligns with the 50% Fibonacci retracement at $57.41. A sustained breakout above this threshold could set the stage for advances toward $65.07, followed by $74.54.
CryptoQuant analytics reveal some elevated heat signals across both spot and futures markets, though several other indicators continue displaying neutral readings.
Kalshi has disclosed plans to introduce perpetual futures contracts for DOGE, XLM, SHIB, HBAR, SUI, LTC, BCH, LINK, and DOT over the upcoming days.
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