What is Derive?
DRV is the native token of Derive, an onchain derivatives exchange for crypto options, perpetual futures and structured products. Derive runs on its own Ethereum-based rollup, where traders keep custody of their funds and use portfolio margining across positions. One contract references one DRV token.
The para:DRV perpetual tracks the price of Derive, 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 5× leverage, around the clock.
Contract details
- Market
para:DRVon Paragon (builder exchange)- Tracks
- The price of Derive
- Settlement
- USDC, no expiry
- Leverage
- 5× at any size
- Margin
- Isolated only
- Size step
- 1 DRV
- Funding
- Paid every hour
- Fees on Hypurr Desk
- 0.115% market, 0.055% limit
- Trading hours
- Around the clock, every day
Size a DRV 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 0.32010, from when this page was built:
- Account
- $1,000.00
- Risk
- 1% = $10.00
- Stop
- 2% below entry, at 0.31370
- Size
- 1325 DRV ($424.68)
- Loss at the stop, fees included
- $10.00
- Leverage
- 5× isolated, $84.94 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 DRV
What is the maximum leverage on DRV?
5×. 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 DRV?
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 DRV on Hypurr Desk?
At the exchange's base tier, 0.115% of the position value for market orders and 0.055% for limit orders that rest on the book, including the 0.025% Hypurr Desk fee. There is no subscription and no sign-up.
Do I own DRV when I trade this market?
No. A perpetual tracks the price of Derive and settles gains and losses in USDC. You never hold the coins, and positions can be closed out if losses use up their margin.
