> ## Documentation Index
> Fetch the complete documentation index at: https://docs.dune.com/llms.txt
> Use this file to discover all available pages before exploring further.
# rwa_hyperliquid.markets
> Registry of Hyperliquid HIP-3 builder-deployed perpetual markets that reference a real-world asset, classified by asset class and asset type.
export const PremiumDatasetAccessCard = ({href = "https://dune.com/enterprise#contact-form"}) =>
This dataset is part of a premium offering and requires additional access. Contact the Dune enterprise team to request access.
;
`rwa_hyperliquid.markets` is the dimension table for synthetic RWA exposure. Grain: one row per HIP-3 builder-deployed perpetual market that maps to a real-world asset, keyed on `(blockchain, token_address)`. It currently holds 193 markets across 9 builder DEXs covering 134 distinct symbols.
## Scope is default-deny
A market appears here only if it has been explicitly curated into the RWA taxonomy. Crypto perps, crypto-dominance indices, compute-price indices, unidentified tickers, and **any newly listed market until it is curated** are all excluded. That means the table never contains a market you have to filter out, but a brand-new RWA listing may lag by a short period before it appears.
Classification is keyed per market rather than per ticker, because the same symbol behaves differently across builder DEXs — quote convention, contract scale, and spec all vary. `mkts:US500` is roughly one-tenth the contract size of `xyz:SP500`, so the two are separate rows with separate descriptions.
## Table schema
| Column | Type | Description |
| ------------------- | --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |
| `blockchain` | `VARCHAR` | Always `hyperliquid` |
| `token_address` | `VARCHAR` | Integer HIP-3 asset id (`100000 + dex_index * 10000 + asset_index`) as `VARCHAR`. **This is the join key to `rwa_multichain.perp_trades.asset_id`** |
| `token_standard` | `VARCHAR` | Always `hyperliquid_perp` |
| `perp_dex` | `VARCHAR` | Builder DEX short code (`xyz`, `flx`, `vntl`, `km`, `cash`, `mkts`, and others) |
| `coin` | `VARCHAR` | Full market id in `dex:SYMBOL` form, e.g. `xyz:TSLA` |
| `market_symbol` | `VARCHAR` | Market ticker within the builder DEX |
| `asset_id` | `INTEGER` | Numeric form of the HIP-3 asset id |
| `symbol` | `VARCHAR` | Asset ticker |
| `name` | `VARCHAR` | Asset name |
| `asset_class` | `VARCHAR` | RWA classification. One of `rates`, `equities`, `credit`, `fx`, `commodities`, `private_funds`, `real_estate` |
| `asset_type` | `VARCHAR` | Finer classification within `asset_class`, e.g. `equities_cash`, `equities_indices`, `metals` |
| `description` | `VARCHAR` | Curated description of the underlying reference, including contract unit where the DEX spec states one (e.g. "1 troy ounce of gold") |
| `underlying_ticker` | `VARCHAR` | Ticker of the referenced real-world instrument |
| `issuer_id` | `VARCHAR` | Issuer identifier |
| `issuer_name` | `VARCHAR` | Same as `builder_name`. Exists for column parity with the tokenized RWA dimensions |
| `platform_id` | `VARCHAR` | Platform identifier |
| `platform_name` | `VARCHAR` | Same as `builder_name` |
| `builder_name` | `VARCHAR` | Builder DEX full name, e.g. XYZ, Ventuals, Felix Exchange. This is the name carried on the trades and metrics tables |
| `deployer` | `VARCHAR` | Address that deployed the market |
| `dex_index` | `INTEGER` | Index of the builder DEX |
| `max_leverage` | `INTEGER` | Current max leverage. Can change over time via growth mode. Hyperliquid's default when a trader never sets one is `min(20, max_leverage)` |
| `margin_mode` | `VARCHAR` | Margin regime set by the deployer: `cross` (cross margin permitted, traders may still pick isolated), `noCross` (isolated only), `strictIsolated` (isolated only and position margin fixed after open) |
| `only_isolated` | `BOOLEAN` | `true` when `margin_mode != 'cross'` |
| `is_delisted` | `BOOLEAN` | `true` once the market has been delisted |
For HIP-3 perps the builder DEX operator is both the issuer and the platform of the synthetic contract, so `issuer_name`, `platform_name`, and `builder_name` all carry the same value. The three columns exist so this dimension lines up with the tokenized RWA dimensions.
## Current asset class coverage
| `asset_class` | Markets |
| ------------- | ------- |
| `equities` | 151 |
| `commodities` | 33 |
| `fx` | 7 |
| `rates` | 2 |
`credit`, `private_funds`, and `real_estate` are valid values in the taxonomy but have no HIP-3 markets yet.
## Example query
```sql theme={null}
-- Market registry with asset classification, by builder DEX
SELECT
builder_name,
asset_class,
COUNT(*) AS markets,
MAX(max_leverage) AS max_leverage
FROM rwa_hyperliquid.markets
WHERE NOT is_delisted
GROUP BY 1, 2
ORDER BY 3 DESC
```
**Join to perp fills for asset-class attribution:**
```sql theme={null}
SELECT
m.asset_class,
m.underlying_ticker,
COUNT(*) AS fills,
SUM(p.notional_usd) AS volume_usd
FROM rwa_multichain.perp_trades p
JOIN rwa_hyperliquid.markets m
ON m.blockchain = p.blockchain
AND m.token_address = p.asset_id
WHERE p.block_date >= current_date - INTERVAL '7' day
GROUP BY 1, 2
ORDER BY 4 DESC
LIMIT 25
```