Trading Overview & Mechanics
How Stratium Markets Work
Stratium deploys structured-finance perpetual markets on Hyperliquid's HyperCore infrastructure through HIP-3/ HIP-4. These markets run on the same matching engine, orderbook, and margin system as native Hyperliquid perps.
Hyperliquid handles execution, settlement, and liquidations. Stratium defines the market parameters, oracle configuration, and instrument design.
Key Parameters
Collateral
USDH
Settlement
Perpetual (no expiry)
Funding
Per Hyperliquid standard (hourly)
Order Types
Market, Limit, Stop-Loss, Take-Profit
Margin Modes
Cross, Isolated (per Hyperliquid)
Leverage limits are configured per market based on the underlying's volatility profile and oracle characteristics. Structured product underlyings have different risk parameters than standard token perps.
Funding Rates on Structured Products
Funding rates on Stratium markets follow Hyperliquid's standard mechanism: periodic payments exchanged between longs and shorts to keep the perpetual price anchored to the underlying index.
For structured products, the underlying is not a spot price. The funding mechanism still functions identically: when the perp trades above the oracle-reported index value, longs pay shorts. When it trades below, shorts pay longs.
Mark Price
Mark price on Stratium markets follows Hyperliquid's robust price indices model, combining oracle price, internal exchange data, and a smoothed EMA to mitigate manipulation risk. Mark price determines margin requirements, liquidation triggers, TP/SL execution, and unrealized PnL.
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