Japan Equities Index (EWJ) Perpetuals on Hyperliquid
Auto-refreshes every 30s · Max leverage: 20x
Source: live price, 24h volume, open interest, and funding-rate data from the official Hyperliquid API (trade.xyz HIP-3 oracle feed), refreshed every 30 seconds.
Quick Summary — What is EWJ on Hyperliquid?
EWJ (Japan Equities Index) on Hyperliquid is a cash-settled HIP-3 perpetual futures contract deployed via the trade.xyz builder. It is a index perpetual — not a token — and tracks the Japan Equities Index price feed with continuous hourly funding settlements. There is no expiry date and no physical delivery: positions roll forever. All margin is denominated in USDC, and you can open positions with up to 20x leverage. As of May 2026, EWJ perpetuals on Hyperliquid offer 24/7 trading (including weekends and holidays when traditional index markets are closed), no KYC requirement, full self-custody via your own wallet, and zero gas fees on every order. Base fees are 0.09% taker and 0.03% maker — slightly higher than native Hyperliquid perps because a portion routes to trade.xyz as the HIP-3 builder.
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How to Trade Japan Equities Index (EWJ) on Hyperliquid
EWJ tracks broad Japanese equity exposure, similar to the iShares MSCI Japan ETF. Trade Japan equity perpetual futures 24/7 on Hyperliquid via trade.xyz.
EWJ 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 20x 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.
Why Trade EWJ on Hyperliquid?
Hyperliquid offers distinct advantages for index 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 index markets are closed. Self-custody ensures you retain full control of your funds at all times.
EWJ Contract Notes & Catalysts to Watch
EWJ gives you Japanese equity exposure, but the distinction from JP225 is the one that actually matters for how you trade it: EWJ references a USD-denominated Japan ETF, so it carries an FX-translation layer that the local Nikkei index does not. JP225 is priced in yen and rises when a weaker yen lifts exporter earnings. EWJ is priced in dollars, so a falling yen mechanically drags on the dollar value of the same Japanese shares even as those shares climb locally. The two can diverge meaningfully on a big yen move, and that gap is the whole reason to have both. I use EWJ when I want Japan exposure already translated into my USDC base currency without layering a separate FX hedge, and I watch JP225 minus EWJ as a clean read on how much of a Japan move is stocks versus currency. Same BOJ and US-rate-differential catalysts drive it, plus the yen path. EWJ-PERP on trade.xyz is cash-settled in USDC, hourly funding, no expiry or roll, tradable 24/7 including the Asia-hours BOJ headlines. KYC-free, up to the leverage cap on this page.
Key Market Facts
Frequently Asked Questions
How do I trade EWJ on Hyperliquid?
EWJ is available as a HIP-3 perpetual future on Hyperliquid, deployed via trade.xyz. You can trade it the same way as any other perp - deposit USDC, select the market, and open a position with up to 20x leverage.
What are the fees for EWJ on Hyperliquid?
HIP-3 builder markets charge 0.09% taker fee and 0.03% maker fee. These are slightly higher than native perps because a portion goes to the builder (trade.xyz) who deployed the market.
Can I trade EWJ 24/7 on Hyperliquid?
Yes. Unlike traditional index markets that have set trading hours, EWJ perpetual futures on Hyperliquid trade around the clock - 24 hours a day, 7 days a week, including weekends and holidays.
How we source and review this market data
Data collection. Live EWJ price, funding rate, open interest, and 24h volume are pulled directly from the Hyperliquid API on every page load and cross-checked against the live trade.xyz interface, which is where EWJ-PERP is deployed as a HIP-3 builder market. Numbers shown are unedited machine values from those feeds — we do not hand-adjust prices or rates.
Editorial review. The trading context on EWJ-PERP — catalysts, contract specs, and the “why trade this” analysis — is written and reviewed by Concept211, an active Hyperliquid trader since February 2024 who trades perpetuals daily and builds automated bots on the Hyperliquid API. Each market is checked against the live trade.xyz interface before publishing.
Last reviewed. . Contract specs and catalysts are re-checked on a rolling basis; live data refreshes automatically. Read the full editorial methodology for how figures are sourced, verified, and corrected.
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