S&P 500 SP500
This could be attributed to several reasons, including limited exchange liquidity or delisting. Or might be due unable to provide support for exchanges where this asset is currently tradable.
What is the S&P 500 (SP500) perpetual?
The S&P 500 (SP500) page on DropsTab tracks price exposure to the benchmark US equity index of roughly 500 large-cap companies through a perpetual derivative market, not through a cryptocurrency. On March 18, 2026, S&P Dow Jones Indices licensed the S&P 500 to Trade[XYZ], creating the first officially licensed S&P 500 perpetual derivative — aimed at eligible non-US investors seeking 24/7 on-chain index exposure.
Is there an official S&P 500 cryptocurrency or token?
No official S&P 500 coin or token exists. The S&P 500 is a stock index, not a crypto asset — it has no token supply, no on-chain contract, and no tokenomics. The instrument tracked under SP500 is a licensed perpetual futures contract that replicates index exposure synthetically. Search results for an "S&P 500 coin" or "S&P 500 token" surface unrelated instruments: the SPYX tokenized ETF from xStock (Backed Finance), tokenized SPY wrappers, and an unrelated S&P 500 (SPX) memecoin.
What is the S&P 500 perpetual on Hyperliquid?
The S&P 500 perpetual on Hyperliquid is a perpetual futures contract, XYZ:SP500-USD, deployed by Trade[XYZ] under Hyperliquid's HIP-3 builder-deployed market framework. S&P Dow Jones Indices licensed the S&P 500 to Trade[XYZ] on March 18, 2026 — the only officially licensed S&P 500 perpetual derivative. Per DropsTab data, this market is the single listing tracked on the SP500 page.
Can you trade the S&P 500 on crypto exchanges?
Not on a spot basis. Per DropsTab data, the SP500 page lists zero spot markets on centralized or decentralized exchanges — the tracked instrument is a derivative. Traders get S&P 500 exposure through the XYZ:SP500-USD perpetual on Hyperliquid (Futures), which trades 24/7, including weekends and after-hours, regardless of traditional stock exchange sessions. Tokenized S&P 500 ETF products such as SPYX trade as spot instruments elsewhere, but those are separate assets, not the market this page tracks.
How does the XYZ:SP500-USD perpetual contract work?
XYZ:SP500-USD is a perpetual futures contract with no expiry date. The contract tracks the S&P 500 index price synthetically, priced off institutional-grade S&P Dow Jones Indices index data. Position sizing supports leverage. Funding settles every hour, and the funding rate reflects the perpetual's premium or discount to the underlying index. Because the contract never expires, holding a position means paying or receiving funding continuously rather than rolling over expiring futures.
What does the hourly funding rate cost S&P 500 perpetual traders?
The hourly funding rate on XYZ:SP500-USD can make long positions costly when the perpetual trades at a premium to the index. When the perp trades above the index, longs pay shorts at each hourly settlement — at a discount, the flow reverses. Weekend and after-hours basis risk adds a second cost layer: while traditional equity exchanges are closed, the perpetual can drift from the last official index close, and that gap feeds into funding.
Which risks come with trading the S&P 500 perpetual?
Four risks stand out. The market exists on a single venue, Hyperliquid — operational health of Hyperliquid and Trade[XYZ] is a single point of failure, and no alternative on-chain venue for the licensed product exists by design. Leverage amplifies losses as well as gains. The hourly funding rate makes long holds expensive during premium periods. Eligibility is restricted: the licensed perp targets non-US investors only, per the S&P Dow Jones Indices release.
How is the S&P 500 perpetual different from tokenized S&P 500 ETFs?
The S&P 500 perpetual is a derivative with no underlying token, while tokenized ETF products are tokens representing share exposure. SPYX from xStock (Backed Finance) is a Solana SPL token tracking a SPY ETF; Robinhood-wrapped ETF tokens and other tokenized SPY wrappers work similarly. The perp offers leverage and 24/7 trading with no share custody. Tokenized ETFs trade as spot assets without leverage. The two instrument types are distinct, and DropsTab tracks them on separate pages.