# Hyperliquid HIP-3: builder-deployed perpetual markets

> How HIP-3 builder-deployed perps work on Hyperliquid, including deployer responsibility, HYPE stake, fees, growth mode, margin, settlement and risk.

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Reviewed: 11 Aug 2026 (2026-08-11).

Bottom line: HIP-3 lets qualified builders deploy perpetual DEXs on HyperCore. The deployer controls market definitions, oracle inputs and operating parameters, so traders must evaluate both Hyperliquid and the specific deployer.

## HIP-3 makes perp deployment permissionless

HIP-3 extends HyperCore order books and margining to builder-deployed perpetual markets. A deployer defines each market, supplies or governs the oracle path, sets leverage limits and can settle the product when required.

The API remains part of the HyperCore action model, but product identity matters. A ticker on a builder DEX can have different collateral, oracle, leverage and fee configuration from a validator-operated market.

## The deployer stake and responsibilities

Mainnet deployers currently maintain 500,000 HYPE staked and keep the requirement for at least 183 days after deployment. Validators can slash stake for irregular inputs that damage protocol correctness, uptime or performance.

Slashed stake is burned rather than distributed as user compensation. The mechanism discourages harmful operation but does not reimburse a trader for poor market design, bad liquidity or normal trading losses.

## Fees, growth mode and collateral

HIP-3 markets use the account’s shared fee tier and can receive normal staking or referral adjustments where eligible. Deployers can configure an additional fee share from 0% to 300%, or 0% to 100% in growth mode.

Growth mode scales specified protocol fees and related contributions down by 90%. Aligned collateral can add product-specific benefits. Always inspect the market and order preview instead of applying the standard perp table blindly.

## Oracle, margin and settlement risk

Cross margin can extend across compatible DEXs under unified or portfolio account modes. Enabling cross margin for a HIP-3 asset is irreversible for the deployer and increases interconnected exposure. Other HIP-3 markets can remain isolated or no-cross.

A deployer can halt trading and settle positions at the current mark price. Before trading, identify the deployer, collateral token, oracle source, settlement terms, maximum leverage, available depth and the exit path during an outage.

## Official sources

- [Hyperliquid Docs: HIP-3 builder-deployed perpetuals](https://hyperliquid.gitbook.io/hyperliquid-docs/hyperliquid-improvement-proposals-hips/hip-3-builder-deployed-perpetuals): Official source used for the product claims on this page.
- [Hyperliquid Docs: Fees](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/fees): Official source used for the product claims on this page.
- [Hyperliquid Docs: Margining](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/margining): Official source used for the product claims on this page.
- [Hyperliquid Docs: Audits](https://hyperliquid.gitbook.io/hyperliquid-docs/audits): Official source used for the product claims on this page.

## Related pages

- [Live Hyperliquid markets](https://hyperliquidreferralcodes.com/markets): Related tool or index.
- [Hyperliquid HIP-4 outcome markets: mechanics and fees](https://hyperliquidreferralcodes.com/hyperliquid-hip-4-outcome-markets): Related guide.
- [Hyperliquid fees: maker, taker, spot and staking tiers](https://hyperliquidreferralcodes.com/hyperliquid-fees): Related guide.
- [Hyperliquid margin: cross, isolated, unified and standard](https://hyperliquidreferralcodes.com/hyperliquid-margin): Related guide.

## Publication details

- Publisher: Hyperliquid Field Guide.
- Status: Independent and unaffiliated with Hyperliquid Labs and the Hyperliquid Foundation.
- Reviewed: 11 Aug 2026 (2026-08-11).
- Affiliate disclosure: The site operator may earn protocol referral rewards when eligible users trade with code AWD. Hyperliquid controls eligibility, attribution and rewards.
- Contact: research@hyperliquidreferralcodes.com.
- Product terms: Check the linked official documentation and the official Hyperliquid app before you act.