What is 10-year US Treasury yield?
This market tracks the yield on the most recently issued 10-year U.S. Treasury note, shown in percent. It is a common reference for long-term borrowing costs, including mortgages. The yield tends to move with inflation data, expectations for Federal Reserve policy, economic growth and the amount of government borrowing.
The para:10Y perpetual tracks the 10-year US Treasury yield, settles in USDC and never expires. It is listed on Paragon, a builder exchange: a market run by an outside team on Hyperliquid's order book. You can go long or short with up to 20× leverage, around the clock.
Contract details
- Market
para:10Yon Paragon (builder exchange)- Tracks
- The 10-year US Treasury yield
- Settlement
- USDC, no expiry
- Leverage
- 20× at any size
- Margin
- Isolated only
- Size step
- 0.1 10Y
- Funding
- Paid every hour
- Fees on Hypurr Desk
- 0.034% market, 0.028% limit
- Trading hours
- Around the clock, every day
Size a 10Y trade from its stop
Hypurr Desk asks where your stop goes and how much of your account you are willing to lose there, then works out the size. An example at 4.9740, from when this page was built:
- Account
- $1,000.00
- Risk
- 1% = $10.00
- Stop
- 2% below entry, at 4.8745
- Size
- 97.3 10Y ($483.96)
- Loss at the stop, fees included
- $10.00
- Leverage
- 18× isolated, $26.89 margin
The stop sets the loss, not the leverage: leverage only decides how much margin the position ties up. Move the stop and the size follows, so a wider stop means a smaller position and the same loss. The stop is placed on the exchange with the entry. How risk sizing works.
Questions about 10Y
What is the maximum leverage on 10Y?
20×. Hypurr Desk sizes each order from your stop, so the leverage follows from how much you choose to risk.
How often is funding paid on 10Y?
Every hour. When the rate is positive, longs pay shorts; when it is negative, shorts pay longs. The current rate is shown at the top of this page.
What does it cost to trade 10Y on Hypurr Desk?
At the exchange's base tier, 0.034% of the position value for market orders and 0.028% for limit orders that rest on the book, including the 0.025% Hypurr Desk fee. There is no subscription and no sign-up.
Can I trade 10-year US Treasury yield when its home market is closed?
Yes. The perpetual trades around the clock, every day, including weekends and holidays. Prices can jump when the main market reopens, so a stop may fill away from its price.
Do I own 10-year US Treasury yield when I trade this market?
No. A perpetual tracks the 10-year US Treasury yield and settles gains and losses in USDC. You never hold the underlying asset, and positions can be closed out if losses use up their margin.
