What is Crypto market cap without Bitcoin?
This index measures the combined market value of the 125 largest crypto assets, leaving out Bitcoin. It shows how the wider altcoin market moves as a group. It rises when the prices of these assets rise overall, and it does not reflect moves in Bitcoin's own price.
The para:TOTAL2 perpetual tracks the price of Crypto market cap without Bitcoin, 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:TOTAL2on Paragon (builder exchange)- Tracks
- The price of Crypto market cap without Bitcoin
- Settlement
- USDC, no expiry
- Leverage
- 20× at any size
- Margin
- Cross or isolated
- Size step
- 0.001 TOTAL2
- Funding
- Paid every hour
- Fees on Hypurr Desk
- 0.115% market, 0.055% limit
- Trading hours
- Around the clock, every day
Size a TOTAL2 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 1,027.3, from when this page was built:
- Account
- $1,000.00
- Risk
- 1% = $10.00
- Stop
- 2% below entry, at 1,006.8
- Size
- 0.410 TOTAL2 ($421.79)
- Loss at the stop, fees included
- $9.98
- Leverage
- 17× cross, $24.81 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 TOTAL2
What is the maximum leverage on TOTAL2?
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 TOTAL2?
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 TOTAL2 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 TOTAL2 when I trade this market?
No. A perpetual tracks the price of Crypto market cap without Bitcoin and settles gains and losses in USDC. You never hold the coins, and positions can be closed out if losses use up their margin.
