GameStop (GME) Perpetuals on Hyperliquid

GameStop became the symbol of the 2021 meme stock movement and continues to attract retail trader attention. Trade GME perpetual futures 24/7 on Hyperliquid via trade.xyz — even on weekends.

GME is a cash-settled perpetual futures contract on Hyperliquid, deployed via trade.xyz as a HIP-3 builder market. Unlike traditional futures, there is no expiry date and no physical delivery — positions roll continuously with funding rates settling every hour. All margin is denominated in USDC, and you can trade with up to 10x leverage.

HIP-3 markets extend Hyperliquid beyond crypto, bringing equities, commodities, and indices on-chain with 24/7 trading, no KYC, and the same on-chain order book infrastructure that powers Hyperliquid's native perpetuals.

Hyperliquid offers distinct advantages for equity traders: gasless execution means zero transaction costs beyond the maker/taker spread, no KYC or identity verification is required to open an account, and trading is available 24/7 including weekends and holidays when traditional equity markets are closed. Self-custody ensures you retain full control of your funds at all times.

GME-PERP tracks the spot GameStop share price via the trade.xyz oracle with hourly funding, and it is the one ticker on this venue I treat as a pure event stock rather than a fundamentals trade. The underlying retail business (physical games and collectibles) is largely beside the point for how the shares move. What drives GME is sentiment and positioning: short interest and the cost to borrow, social-media flare-ups, options gamma, and any sign of the retail crowd re-engaging. Squeeze episodes can send it up multiples in days and give it all back just as fast, so realized vol dwarfs anything else in the equity book. Two structural wrinkles matter now. GameStop sits on a very large cash pile from prior equity raises, and it has added Bitcoin to its treasury, which ties a slice of the stock to crypto sentiment and makes weekend BTC moves relevant. Catalysts I watch: short-interest and borrow-rate updates, any Roaring Kitty / high-profile retail chatter, capital-raise or treasury announcements, and quarterly earnings (which usually matter less than the flows around them). The 24/7 perp is genuinely useful here because squeeze fuel builds on weekends when the stock market is closed. Size small, lean on limit orders, and expect funding to spike hard positive when perp longs crowd a run. Cash-settled USDC, no KYC.