What is Optimism?
Optimism is a layer 2 network on Ethereum that uses optimistic rollups to make transactions cheaper. Its OP Stack software also powers other chains, such as Base, which together form the Superchain. OP is the governance token of the Optimism Collective, while gas on OP Mainnet is paid in ETH.
The OP perpetual tracks the price of Optimism, settles in USDC and never expires. It trades on Hyperliquid's main exchange. You can go long or short with up to 5× leverage, around the clock.
Contract details
- Market
OP, main exchange- Tracks
- The price of Optimism
- Settlement
- USDC, no expiry
- Leverage
- 5× at any size
- Margin
- Cross or isolated
- Size step
- 0.1 OP
- Funding
- Paid every hour
- Fees on Hypurr Desk
- 0.07% market, 0.04% limit
- Trading hours
- Around the clock, every day
Size a OP 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 0.11341, from when this page was built:
- Account
- $1,000.00
- Risk
- 1% = $10.00
- Stop
- 2% below entry, at 0.11114
- Size
- 4140.1 OP ($469.49)
- Loss at the stop, fees included
- $10.00
- Leverage
- 5× cross, $93.90 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 OP
What is the maximum leverage on OP?
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 OP?
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 OP on Hypurr Desk?
At the exchange's base tier, 0.07% of the position value for market orders and 0.04% 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 OP when I trade this market?
No. A perpetual tracks the price of Optimism and settles gains and losses in USDC. You never hold the coins, and positions can be closed out if losses use up their margin.
