Can I trade the S&P 500 after hours?

Yes. After the cash close the price follows S&P 500 futures, and on weekends it trades on Hyperliquid order flow within discovery bounds.

Can I short the S&P 500 on Hyperliquid?

Yes. A short position gains when the index falls. There is no borrowing and no options chain involved.

Is xyz:SP500 the same as owning an index fund?

No. It is a leveraged derivative with funding payments and liquidation risk, not a fund holding the 500 stocks.

The S&P 500 on Hyperliquid, live.

xyz:SP500 is a perpetual contract that tracks the S&P 500 index. Go long or short the US market from your phone, nearly around the clock, settled in USDC.

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SP500S&P 500

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What is xyz:SP500?

xyz:SP500 is an S&P 500 perpetual deployed by trade[XYZ] on Hyperliquid through HIP-3, under a license from S&P Dow Jones Indices. It tracks the index of 500 leading US companies and settles profit and loss in USDC.

It is the simplest way to take a view on the whole US market, long or short, from a crypto wallet, including in the evening and on Sunday night before the cash market opens.

Hyperliquid ticker	xyz:SP500
Reference	S&P 500 Index
Max leverage on the venue	50x
External price hours	Sunday 6:00 PM to Friday 5:00 PM ET
Settlement	USDC, cash-settled
Source	trade[XYZ] specification index, October 2026

How the price is set

During the US cash session, the oracle is the live S&P 500 index value. Outside it, the oracle uses S&P 500 futures, discounted back to an implied index level using the spot-futures gap observed during the last cash session.

Outside those hours, including weekends, the market keeps trading 24/7 on an internal price that moves with order flow inside discovery bounds, a cap on how far the price can travel until the external market reopens.

How to trade s&p 500 on Farao

Download Farao and fund it with USDC or Apple Pay. Your funds sit in a wallet you control.
Open the market and pick long if you expect the price to rise, short if you expect it to fall.
Set your size and leverage, plus take profit and stop loss. The liquidation price is shown before you confirm.
Confirm. The order executes on Hyperliquid's order book, and you can close it at any time, day or night.

Your questions, answeredEverything you need to know

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A perpetual contract listed by trade[XYZ] that tracks the S&P 500 index, cash-settled in USDC.

More markets: Gold · Silver · Brent Crude Oil · Natural Gas. Leverage cuts both ways: a move against you can liquidate a position quickly.

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