+First time on the top traders desk?
The desk runs its own numbers and publishes its calls next to the account that trades them. The short route:
LAB — TRADFI
TradFi perps
The screener's tradfi tab reads perpetuals on stocks, indices, commodities and FX from trade.xyz. This page is the part a table cannot carry: where the numbers come from, what was checked, and what was not.
Where it comes from
trade.xyz is a builder-deployed perp DEX on Hyperliquid, so its markets sit on the same public API as the crypto perps we already read: one dex parameter apart, no key, no export. Prices, funding, open interest and volume are live. The category tree and the per-market open interest cap are not on that API and come from a trade.xyz export, refreshed by hand.
| market | n | 24h |
|---|---|---|
| stocks | 89 | $1.76B |
| indices & ETFs | 18 | $636.5M |
| commodities | 13 | $271.8M |
| FX | 5 | $11.7M |
Where the money stands
Open interest against the day's turnover, by class. Trading markets only. A dormant one has neither. ■ open interest ■ turnover
Funding here is hourly
This is the one number a reader would reasonably assume transfers from the crypto side, and it does not. Crypto perps settle funding every 8 hours; these settle every hour: measured from consecutive funding stamps, not taken from a document. Annualising with the crypto convention reports 0.30% where the answer is 2.43%: wrong by a factor of eight, and plausible enough that nobody would query it. That is why this is a separate product rather than extra rows.
Who pays whom
Annualised funding across 101 trading markets; the median sits at +5.48%. Above zero longs pay shorts, below zero shorts pay longs.
Hover a bar for the markets in that band.
How this differs from the share itself
It trades around the clock. The cash market closes; the perp does not, so a gap that a shareholder meets on Monday morning is traded through here over the weekend.
There is no dividend and no vote. The instrument tracks the price and nothing else that owning the share carries.
Holding costs funding, not a margin rate. At the current median of +5.48% annualised, $10,000 held long costs about $46 a month: settled with the other side hour by hour, not with a broker.
Leverage is the venue's, and so is the cap. Each market has its own ceiling on open interest, and the chart above says how full those ceilings are right now.
How full the caps are
Open interest against the venue's own limit for that market.
A market at its cap stops accepting new positions on that side.
Where the market is thin
Money is standing in these markets and almost nothing traded over the day, turnover under a tenth of open interest. That is not the same fact as a dormant market, which has neither:
GMEoverview6%STRCoverview6%SHAZoverview7%PALLADIUMoverview8%URNMoverview10%NOWoverview10%JPYoverview11%LLYoverview11%
What is excluded
15 markets have no open interest and no volume. Their mark price equals the previous close, so they would render as a flat 0.00%, which reads as a calm market and is an absent one. They are dropped and named rather than shown. 15 of them the venue has delisted outright: their volume is zero because the instrument is gone, not because the day was quiet.
ALUMINIUMoverview CORNoverview DXYoverview H100overview IBIDENoverview IBOVoverview KRWoverview KSTRoverview NIFTYoverview TTFoverview URANIUMoverview VIXoverview VOLoverview WHEAToverview XBIoverview