How to Buy NEAR on Hyperliquid Spot (NEAR/USDC)

NEAR

NEAR Now Trades Spot on Hyperliquid

Until September 2026, the only way to get NEAR exposure on Hyperliquid was the NEAR perpetual. That changed on September 22, when NEAR Protocol announced that NEAR was deployed on Hyperliquid spot. There is now a NEAR/USDC order book on HyperCore, the same exchange layer that runs every other HIP-1 spot token.

Spot means you own the token. There is no leverage, no funding rate and no liquidation price. You buy NEAR with USDC, it sits in your spot balance, and you sell it when you want to.

What Actually Launched

NEAR's post on September 22 said the token had been deployed that day and would take a few days to appear on the strict list in Hyperliquid's interface. The strict list is the curated set of spot tokens the app shows by default. Until a token is on it, the market still works, but you reach it by direct link or by turning off the strict filter in the market selector. NEAR's follow-up post pointed traders to app.hyperliquid.xyz/trade/NEAR/USDC in the meantime.

The token record itself is older than the announcement. The Hyperliquid API's tokenDetails endpoint shows the ONEAR token record was created on May 27, 2026. A HIP-1 ticker has to be won in the spot deployment auction before the token can be created, so the slot was in hand about four months before the market opened.

Here is what the API reported for the token on September 28, 2026:

Source: Hyperliquid API spotMeta, tokenDetails and spotMetaAndAssetCtxs, September 28, 2026.

Why the API Says ONEAR

If you query spotMeta you will not find a spot token called NEAR. You will find ONEAR, with the full name "NEAR Protocol". The Hyperliquid app displays it as NEAR/USDC, so most traders will never see the API name. Bot builders and anyone reading raw data will.

NEAR's announcement did not explain the name, and this site does not know why ONEAR was chosen. What matters in practice is the mapping above: ONEAR on the API side, NEAR/USDC in the app, pair @496 in both.

How to Buy NEAR on Hyperliquid

You need USDC in your Hyperliquid account and nothing else. If you have not funded an account yet, the USDC deposit guide covers it, and the first-trade walkthrough explains the interface.

The spot trading guide covers the spot interface in more depth, and the order types guide explains when a limit order beats a market order.

What It Costs

NEAR spot uses Hyperliquid's standard spot schedule. At the base tier that is 0.070% taker and 0.040% maker, with no gas fee on the trade itself. A $1,000 market buy costs $0.70 in fees; the same order resting as a limit and getting filled costs $0.40.

Three things lower that:

• Spot volume counts twice toward your 14-day volume, so spot traders move up the fee tiers faster than perp traders.
• A referral code takes 4% off fees on your first $25 million of volume.
• Staking HYPE cuts fees by 5% to 40% depending on the amount staked. The fees guide has the full table.

One detail specific to this token: the ONEAR deployer set its trading fee share to 1.0, the maximum HIP-1 allows. That does not change what you pay. It changes where part of the fee goes: at the maximum setting, the deployer receives half of the fees traders pay on this book. Deployers who pick a lower share have the declined portion burned instead.

NEAR Spot vs the NEAR Perp

Hyperliquid now has two NEAR markets, and they do different jobs.

Source: Hyperliquid API metaAndAssetCtxs and spotMetaAndAssetCtxs, September 28, 2026. Leverage caps change; check the live NEAR market page before sizing a position.

The perp is the liquid market by a wide margin. If you want to trade NEAR's price with leverage, go short, or move size quickly, the perp's book is roughly 45 times deeper by daily volume. The perpetuals explainer and funding rates guide cover how that contract works.

Spot fits a different case: you want to hold NEAR for a while without paying funding, without a liquidation price, and without watching margin. Holding a perp long for months means paying or receiving funding every hour, which can add up to more than the spot fee difference.

Getting NEAR In and Out

This is the part to be careful with.

The ONEAR spot token is linked to an ERC-20 contract on HyperEVM at 0xc80d9eb120d6e40e31d5ae9040d5fc0753c52da7. Linked tokens can move between your HyperCore spot balance and HyperEVM with the in-app transfer, the same way HYPE and other linked assets do. The HyperEVM bridging guide walks through that transfer.

Getting NEAR from the NEAR blockchain onto Hyperliquid, or back out again, is a different question. NEAR's announcement did not name a bridge or deposit route, and this site has not confirmed one. Two practical rules follow:

• Do not send NEAR from a NEAR wallet or an exchange's NEAR withdrawal to your Hyperliquid address. NEAR mainnet and Hyperliquid are different networks. Only use a route that explicitly supports the HyperEVM contract above.
• The simplest route is USDC. Deposit USDC and buy NEAR on the book. To leave, sell NEAR for USDC and withdraw USDC. If you want NEAR on another chain after that, buy it there.

A rough read of how much NEAR has come across so far: on September 28, 2026 the HyperEVM contract reported a total supply of about 1.71 million tokens, of which about 1.70 million sat at the system address that links it to HyperCore. The API's "circulating supply" figure for ONEAR is 9 billion, but that is the maximum supply minted at genesis to the link address, not NEAR held by traders.

Source: NEAR Protocol, used under fair use for educational purposes

For bridge and wallet support on the NEAR side, check NEAR's own channels at near.org rather than third-party guides.

Risks to Keep in Mind

The spot book is thin. A few days after launch it was doing well under a tenth of the perp's volume, so a large market order will move the price. Use limit orders for size, and read the slippage guide if you have not already.

The names trip up bots. The perp is NEAR in the API and the spot token is ONEAR, and code that looks markets up by name can land on the wrong one.

Bridges add their own risk. Any route that moves NEAR between chains carries the risk of that bridge on top of NEAR's price risk, which is why buying with USDC on Hyperliquid is the cleaner path.

And spot still goes down. There is no liquidation, but NEAR fell more than 5% on one day of launch week.