PERP.WIKI

Trade.xyz (HyperUnit) vs Insilico Terminal

Hyperliquid ecosystem comparison · RWA Perps

Best for Traders
Different Focus Areas

Quick Take

Trade.xyz (HyperUnit) 24/7 on-chain stock perpetuals powered by HIP-3 — $500M+ daily volume on HIP-3, while Insilico Terminal Free professional trading terminal — the first terminal on Hyperliquid on HyperCore. They serve different niches in the Hyperliquid ecosystem.

Based on public data for Trade.xyz (HyperUnit) and Insilico Terminal. Key differentiators: layer deployment, fee structure, liquidity depth, and community adoption. Last reviewed: Mar 2026.

Overview

Trade.xyz (HyperUnit) logo

Trade.xyz (HyperUnit)

Trade.xyz, developed by HyperUnit, made history as the first protocol to acquire a HIP-3 ticker on Hyperliquid, securing the XYZ100 listing. The platform enables 24/7 trading of tokenized US stocks and ETFs — assets that traditional markets restrict to weekday trading hours. By bringing equities like Apple, Tesla, NVIDIA, and major ETFs on-chain, Trade.xyz solves a fundamental problem: global investors, particularly those outside the US, face geographic restrictions and time-zone barriers when accessing US stock markets. On Hyperliquid's high-throughput order book, tokenized equities benefit from near-instant settlement, deep liquidity, and the same seamless trading experience as crypto perpetuals. The XYZ100 ticker functions as an index exposure product, giving users diversified equity exposure in a single position. Tokenization is handled in a trust-minimized manner, ensuring price fidelity with underlying assets. Trade.xyz represents the convergence of TradFi and DeFi — crypto-native infrastructure meeting traditional asset classes — and is a flagship demonstration of what Hyperliquid's HIP-3 standard enables for real-world asset trading at any hour of the day, seven days a week.

Insilico Terminal logo

Insilico Terminal

Insilico Terminal is a free, professional-grade trading terminal and the first purpose-built execution interface to support Hyperliquid natively. Created by veteran trader Flood, the platform delivers institutional-quality order, position, and execution management tools to retail traders at zero cost — democratizing access to tooling previously reserved for professional trading desks. The terminal provides a comprehensive suite of advanced features: multi-order management, real-time position tracking across all open markets, granular execution controls, and a clean interface optimized for speed and clarity under fast market conditions. Unlike generic exchange UIs, Insilico Terminal is designed by a trader for traders — with a workflow that mirrors professional trading environments and prioritizes execution precision above all. Being the first terminal to integrate Hyperliquid natively means Insilico users benefit from direct access to Hyperliquid's high-performance on-chain order book, including sub-second execution, deep liquidity across 100+ perpetual markets, and transparent on-chain settlement. The platform also supports multi-chain trading, extending its utility for traders who operate across ecosystems. With no subscription fees and active community-driven development, Insilico Terminal has become an essential daily tool for serious traders in the Hyperliquid ecosystem.

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Feature Comparison

FeatureTrade.xyz (HyperUnit) logoTrade.xyz (HyperUnit)Insilico Terminal logoInsilico Terminal
LayerHIP-3HyperCore
CategoryRWA PerpsTrading Terminals & Interfaces
StatusActiveActive
Launch Year20252024
Websiteinsilicoterminal.com
Twitter@InsilicoTrading
GitHubNot publicNot public
VerifiedUnverifiedUnverified
Tags
stocksRWAperpetualsHIP-3HyperUnit
terminalTradingViewhotkeysprofessional

Score Comparison

Trade.xyz (HyperUnit)Insilico Terminal
Open Source
Trade.xyz (HyperUnit)
Not public
Insilico Terminal
Not public
Verified
Trade.xyz (HyperUnit)
Unverified
Insilico Terminal
Unverified
Ecosystem Breadth
Trade.xyz (HyperUnit)
5 tags
Insilico Terminal
4 tags
Maturity
Trade.xyz (HyperUnit)
Since 2025
Insilico Terminal
Since 2024

Feature Matrix

FeatureTrade.xyz (HyperUnit) logoTrade.xyz (HyperUnit)Insilico Terminal logoInsilico Terminal
Open Source
Verified
Has Website
Has Twitter
Has GitHub
Active Status

Key Differences

Layer Architecture

Trade.xyz (HyperUnit) operates on HIP-3 (permissionless custom perpetual markets), while Insilico Terminal runs on HyperCore (native on-chain perpetual orderbook). This affects composability, transaction speed, and the types of integrations each protocol supports.

Category Focus

Trade.xyz (HyperUnit) is focused on rwa perps, while Insilico Terminal targets trading terminals & interfaces. They serve different user needs within the Hyperliquid ecosystem.

Unique Features

Trade.xyz (HyperUnit) is distinguished by: stocks, RWA, perpetuals, HIP-3, HyperUnit. Insilico Terminal stands out with: terminal, TradingView, hotkeys, professional.

Market Timing

Insilico Terminal launched first in 2024, giving it a head start. Trade.xyz (HyperUnit) entered later in 2025, potentially with the benefit of learning from earlier entrants.

When to Use Each

Choose Trade.xyz (HyperUnit) if you...

  • Want a rwa perps solution on HIP-3
  • Need features like stocks and RWA
  • Need: 24/7 on-chain stock perpetuals powered by HIP-3 — $500M+ daily volume

Choose Insilico Terminal if you...

  • Want a trading terminals & interfaces solution on HyperCore
  • Need features like terminal and TradingView
  • Need: Free professional trading terminal — the first terminal on Hyperliquid

Ecosystem Integration

Trade.xyz (HyperUnit) logo

Trade.xyz (HyperUnit)

Trade.xyz (HyperUnit) operates on HIP-3 (permissionless custom perpetual markets). Through HIP-3, it enables permissionless creation of custom perpetual markets.

Insilico Terminal logo

Insilico Terminal

Insilico Terminal operates on HyperCore (native on-chain perpetual orderbook). Running on HyperCore gives it direct access to the native orderbook with minimal latency and maximum throughput.

Community Verdict

Which do you prefer?

Share your experience with Trade.xyz (HyperUnit) or Insilico Terminal to help others in the Hyperliquid community make better decisions.

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