Taiwan Semiconductor (TSM) Perpetuals on Hyperliquid

TSMC is the world's largest semiconductor foundry, manufacturing chips for Apple, NVIDIA, and AMD. Trade TSM perpetual futures on Hyperliquid via trade.xyz.

TSM 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 10x 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.

Hyperliquid offers distinct advantages for equity 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 equity markets are closed. Self-custody ensures you retain full control of your funds at all times.

TSM-PERP tracks the Taiwan Semiconductor share price via the trade.xyz oracle with hourly funding, cash-settled in USDC. What sets TSMC apart from every other chip name in the book is that it is a pure foundry — it manufactures rather than designs, so the perp keys off capacity and node economics rather than a single product cycle. The catalyst almost nobody else has: TSMC reports monthly revenue around the tenth of each month, Taiwan time, which lands well before any US session and routinely gaps the stock. Beyond that I watch quarterly earnings (mid-January, April, July, October), advanced-node ramp updates (N3, N2, and the CoWoS packaging capacity that gates AI-GPU supply for NVIDIA and AMD), Apple order timing, and Taiwan-Strait geopolitical headlines that break during Asian hours when US brokers are shut. The listed underlier is the NYSE-quoted ADR, but the news that moves it originates on Taiwan time, so 24/7 access is the whole point. Funding tends positive on AI-rally days as perp longs crowd the trade. The book is deep for an equity perp, but still thinner than trading the shares outright, so lean on limit orders in off-hours.