The short answer
Hyperliquid is the largest on-chain perpetual futures exchange. UZO Perpetuals streams its live prices and order book depth, so what you see is a real, public market rather than a broker quote.
Your fills are simulated against that live market, in line with how every UZO account works.
Why Hyperliquid
A perpetual on Hyperliquid is priced by an open order book: anyone can see the bids, the offers and every trade. Building on it means two things for you.
You trade against real depth. A small order fills at the top of the book. A larger one can fill across several price levels at an average price, as it would on the exchange.
Slippage is honest. The gap between the price you saw and your fill reflects real market depth, not a dealing-desk decision.
Hyperliquid also lists perpetuals on far more than crypto. Shares, indices, gold and oil trade there as perpetual contracts, which is how all of them can be offered 24/7 in one place.
The three prices you will see
Price | What it is | What it is used for |
Last price | The most recent trade on the order book | The chart and the ticker |
Mark price | A fair value that blends the order book with outside reference prices | Floating profit or loss and margin |
Oracle price | A reference price for the underlying asset, refreshed every few seconds | Funding payments |
The point of the mark price is protection. Because it blends several sources rather than trusting a single print, one odd trade or a brief wick cannot swing your floating profit or loss on its own.
Non-crypto markets
On crypto markets the oracle price is the spot price of the token across major exchanges. Share, index and commodity perps are different, because their home market is closed for much of the week. Whilst it is shut, the perp's own order book does the pricing, which is why a share perp keeps trading and moving on a Saturday. If you plan to hold one across a weekend, read Markets that never close: trading perpetuals 24/7 first.
Quick recap
Prices and depth come live from Hyperliquid's public order book.
Floating profit or loss and margin run on the mark price, a blended fair value.
Funding runs on the oracle price, the reference price of the underlying.
Execution is simulated against that live market, and your rewards are real.
Where to go next
Read Funding rates, explained for how the oracle price becomes an hourly payment, and Leverage and margin on perpetuals for how margin is calculated.
Need help?
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