Markets

Leap is designed around one market-discovery flow rather than separate products for every asset type. From Explore, you can browse the markets currently supported by the platform and move directly into the relevant trading view.

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Spot

A spot trade exchanges one asset for another at the current market. There is no perpetual funding and no liquidation from leverage in a normal unleveraged spot purchase.

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Perpetuals

A perpetual is a derivative with no expiry date. You can go long or short and use leverage, but perpetual positions also introduce:

• margin requirements
• liquidation risk
• funding payments
• leverage-specific position sizing

If you are new to perpetuals, start with the Trading section before opening a position.

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Hyperliquid markets

Leap is built around Hyperliquid market infrastructure. The Explore screen can identify markets sourced through Hyperliquid and shows relevant information such as price, volume, open interest/value, and maximum leverage.

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Extended markets

The Extended markets filter groups additional supported markets available through Leap’s broader market experience. Leap’s product direction is to bring crypto alongside supported stocks, indices, and other real-world market exposure into one interface as those markets are available.

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Market data changes continuously

Figures such as price, 24-hour change, volume, open interest, and market counts are live data. Documentation examples may therefore look different from the numbers you see in your account.

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Maximum leverage is market-specific

Different markets support different leverage limits. You can see the relevant limit in the market information shown by Leap. A higher available maximum does not mean the market should be traded at that leverage.

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Additional venues

Leap plans to expand available markets, including markets through Variational soon after launch. Availability depends on the live product. Check Explore for the markets and venues currently offered.