Uranium Miners ETF (URNM) Perpetuals on Hyperliquid

URNM tracks uranium mining companies, offering leveraged exposure to the nuclear energy supply chain. Trade uranium miners perpetual futures on Hyperliquid via trade.xyz.

URNM 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.

URNM-PERP tracks the spot price of the uranium miners ETF via the trade.xyz oracle, so it is an equity-style exposure to the basket of companies that produce uranium rather than the metal itself, and that distinction is the whole trade. The miners are a leveraged, higher-beta play on the uranium price: when spot U3O8 rises, producers like Cameco and Kazatomprom and the development names see margins expand faster than the commodity moves, and they fall harder on the way down. The pair I actually run is URNM against the URANIUM spot perp, going long whichever side looks mispriced when miner equity and the underlying yellowcake price diverge. Because URNM is an equity basket, it also catches things the commodity ignores: broad risk-on and risk-off equity beta, mining-jurisdiction and permitting headlines, and project financing or share issuance from the development-stage names, on top of the same nuclear-demand catalysts (reactor restarts, China build-out, SMRs, Sprott's SPUT buying). Watch producer earnings and Kazatomprom guidance for the fundamental legs. As a perp it settles in USDC with hourly funding and trades 24/7, including the weekends and after-hours windows when the actual ETF is closed and nuclear-policy headlines tend to break.