Introduction to Inverse Indices Perpetual Contract

Inverse Index Perpetual Contracts ("Inverses") allow traders to trade USD against BTC and other coins while using USDC as the margin currency. This allows for traders to get unlimited non-linear upside when expecting a downside movement ("short") of the traded asset. Therefore, If an asset (e.g., BTC) falls 80%, the USD/BTC index rises 400%. So being long USD/BTC would return +400%, whereas shorting BTC/USD would return +80%.

Inverses are built on Hyperliquid’s proven perpetuals order book infrastructure and powered by the HIP-3 standard.