BasisX is a yield-first perp protocol built directly inside Hyperliquid.
We’re a HIP-3 deployer focused on turning bonds, funding rates and onchain yield into markets the community can own and trade.
Today, crypto mostly lets you speculate on price. The real engine underneath - interest rates, bond curves, funding flows - sits elsewhere: in TradFi terminals, closed desks, and invisible funding lines on perp venues. Traders watch those forces, treasuries are exposed to them, but almost nobody can trade them cleanly on-chain.
BasisX exists to fix that.
On BasisX, the underlying is cashflow:
• Bond perps - tickers like TLT and BOND give you perp-style exposure to U.S. duration and broad bond beta.
• Long if you think rates fall / bonds rally.
• Short if you think higher for longer or a bond selloff is coming.
• Funding perps - markets like frBTC, frETH, frHYPE, frPUMP track perp funding itself rather than the coin price.
• Hedge funding risk if you’re a MM or basis fund.
• Express pure views on leverage flows and crowd positioning.
Soon, we extend this to LST perps and more rate products, building out the full onchain yield curve.
By deploying on Hyperliquid HIP-3, BasisX inherits a battle-tested matching and risk engine, a unified margin system, and a distribution layer already trusted by perp traders. Our markets live right next to BTC, ETH, stocks and memes; you use the same account, same collateral, same UX - just with new axes to trade: rates, duration, funding.
Crucially, BasisX is designed as a community-owned HIP-3 deployer. The yield layer isn’t a sealed black box; it’s a surface that can be shaped over time by the people actually trading and providing liquidity—deciding which bond curves matter, which funding streams deserve tickers, and how these markets should evolve.
Perps made everything a price market.
BasisX is the step where yield becomes a market of its own - inside the house of all finance, built for the community that lives there.