Bitso integrates Hyperliquid, opening 200-plus on-chain perpetual futures markets
In brief
- "Perps through Bitso" went live on November 9, 2026, according to Crypto Briefing.
- Hyperliquid integration gives Bitso users access to more than 200 on-chain perpetual futures markets.
- Markets span crypto, the S&P 500, gold and FX pairs, with leverage up to 50x.
- Bitso doesn't run its own derivatives book or act as counterparty to trades.
- Regulation and the self-custodial setup remain open questions, Crypto Briefing flagged.
How the integration works
The feature sits inside the exchange's trading interface built for more active users. According to Crypto Briefing's report on the launch, Bitso isn't running its own derivatives book. Orders are routed to Hyperliquid, which operates an on-chain order book that the outlet described as the deepest in the market.
Bitso is the front end; Hyperliquid is the venue.
Funding works through a self-custodial wallet on Hyperliquid. Users control their own collateral (Bitso doesn't act as counterparty to any trade), and that's a notable setup for an exchange that counts a user base of over 10 million, according to the company's figures as reported by Crypto Briefing.
So what's different for users? Previously, Bitso users who wanted derivatives exposure had to transfer funds off the platform and manage a separate account elsewhere.
Perpetuals and leverage
The contracts are perpetual. They've got no expiry dates and can be held open continuously, which separates them from traditional dated futures. Leverage goes up to 50x, though the cap depends on the specific market, and Crypto Briefing spelled out what that means in practice:
At 50x, a 1% price move works out to a 50% swing on the collateral backing a position.
Open questions
Crypto Briefing placed the launch within a wider trend, noting that centralized platforms are increasingly offering access to on-chain liquidity rather than recreating it in-house.
The report also raised two questions it didn't resolve. One is how regulators in Bitso's markets will view leveraged perps on equities, commodities and FX when they're routed through an on-chain venue. The other is how smoothly the self-custodial setup will work for users accustomed to a fully custodial exchange (a different experience from simply holding balances on Bitso itself).
Frequently asked questions
How does Perps through Bitso work?
Bitso doesn't run its own derivatives book. Orders placed through the feature are routed to Hyperliquid's on-chain order book, and funding works through a self-custodial wallet on Hyperliquid, so users control their own collateral and Bitso isn't the counterparty to any trade.
What markets and leverage can Bitso users access through Hyperliquid?
According to Crypto Briefing, users can access more than 200 on-chain perpetual futures markets tied to crypto assets, the S&P 500, gold and a range of foreign exchange pairs. Leverage goes up to 50x, with the cap depending on the specific market.
What concerns did Crypto Briefing raise about the integration?
Crypto Briefing raised two open questions. One is how regulators in Bitso's markets will view leveraged perps on equities, commodities and FX routed through an on-chain venue. The other is how smoothly the self-custodial setup will work for users accustomed to a fully custodial exchange.
