VaultVision Research · Hyperliquid
Dashboard Blog @0xkayser

HIP-3 and HIP-4: what Hyperliquid documents now

A current-source guide to builder-deployed perp DEXs, testnet outcome assets, and the checks that matter before you use vault data.

Updated July 16, 2026 Official-source review by @0xkayser
Checked source. This page was revalidated against current Hyperliquid documentation on July 16, 2026. Protocol settings, supported markets, fees, and API status can change after publication, so current docs and live data remain the source of truth.
HIP-3 / documented framework

Builder-deployed perp DEXs

A qualifying deployer defines and operates markets that use HyperCore order books and margining.

Outcome assets / current API status

Testnet-only in official docs

The current spot info documentation labels outcomeMeta testnet-only. We do not infer a mainnet date.

Short answer. HIP-3 is a standalone official specification for builder-deployed perpetual markets. “HIP-4” is common search shorthand for Hyperliquid outcomes, but the current official HIP index does not expose a standalone HIP-4 specification. Official API docs do describe two-sided outcome assets and currently mark their metadata testnet-only.

HIP-3 and outcome assets at a glance

Decision fieldHIP-3Outcomes / “HIP-4” search term
Official surfaceStandalone HIP-3 builder-deployed perpetuals specification.Current developer documentation for outcome asset IDs and outcomeMeta; no standalone HIP-4 spec in the current HIP index.
Documented statusCurrent mainnet framework with deployer requirements and operational controls.The current spot info endpoint labels outcome metadata testnet-only.
Market structureA deployer operates a perp DEX with independent markets and settings on HyperCore.Each outcome has two valid sides and a representation distinct from spot and perp assets.
What is not safe to inferSpecific vault exposure, liquidity, fee income, or return impact.Mainnet timing, settlement asset, margin behavior, fee routing, or vault support beyond current docs.

The table separates current official documentation from market commentary. It is not a performance forecast.

What HIP-3 actually specifies

Hyperliquid's HIP-3 specification lets a qualifying deployer run one builder-deployed perp DEX. The deployer is responsible for market definition and operation; execution uses HyperCore order books and margining.

Do not jump from protocol mechanics to vault exposure. A vault's current positions, the perp DEX behind each position, liquidity, oracle quality, open-interest caps, and realised drawdown must be inspected. The HIP-3 label alone does not prove higher yield or higher risk.

What the current outcomes docs say

People search for “HIP-4” when they mean Hyperliquid outcome contracts. The current official evidence is narrower than many explainers imply:

That is enough to describe the current API surface. It is not enough to promise a rollout date, name a settlement asset, assume common margin treatment, or model outcome-contract revenue for HLP.

What vault depositors should verify

VaultVision is a Hyperliquid vault scanner, not an outcome-trading venue. It helps you inspect live vault state without pretending that a protocol narrative is a deposit recommendation.

  1. Open positions. Identify the actual markets and direction of exposure instead of relying on the vault name.
  2. Liquidity and oracle risk. For builder-deployed perps, check the perp DEX, order-book depth, oracle design, market status, and caps.
  3. Drawdown before APR. Compare current drawdown, risk score, TVL, and return windows. Historical returns do not validate a new market regime.
  4. Deposit state and entry quality. Confirm that deposits are open and whether present exposure creates a poor entry.
  5. HLP separately. Do not infer that HLP owns a specific HIP-3 or outcome exposure. Inspect the current HLP page and current positions.
Risk Engine boundary. VaultVision Risk Engine v2 does not directly score “HIP-3 exposure” as a standalone factor. Position concentration, drawdown, history, and other published inputs remain the scoring contract; market-level HIP-3 diligence is an additional manual check.

FAQ

What is HIP-3 on Hyperliquid?

HIP-3 is the official framework for builder-deployed perpetual DEXs. A qualifying deployer defines and operates markets while using HyperCore order books and margining.

How much HYPE does HIP-3 currently require?

The current official specification states 500,000 HYPE on mainnet and notes that the requirement is expected to decrease as infrastructure matures.

Is HIP-4 live on Hyperliquid mainnet?

The current official spot API documentation labels outcome metadata testnet-only. This page does not claim a mainnet date or production availability.

Do HIP-3 or outcome markets automatically increase HLP returns?

No. Protocol mechanics do not prove a specific HLP position, fee contribution, or return. Verify current HLP positions, flows, drawdown, and performance data.

Can VaultVision execute HIP-3 or outcome trades?

No. VaultVision provides vault rankings, risk, drawdown, positions, flows, and alerts for manual research. It does not promise automated execution or outcome trading.

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