> ## Documentation Index
> Fetch the complete documentation index at: https://docs.hyperprop.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Hyperprop Deep Liquidity (HDL)

> A deep, consolidated order book for perpetual futures, with realistic execution at every size, around the clock.

Hyperprop Deep Liquidity (HDL) sets a new standard for perpetual futures
trading. It brings the liquidity of multiple leading perpetual markets together
into **one deep, consolidated order book** for each instrument, with one trade
tape and one set of charts. Orders on Hyperprop fill against that book, so
every trader and every prop firm works from the same transparent view of the
market.

HDL is launching on Hyperprop, with the first prop firms onboarding in
November 2026.

## Why HDL

Perpetual futures liquidity is fragmented. The same contract trades in many
places, each with its own price, spread and depth, and no single market shows
the full picture. Simulated and prop trading platforms typically price fills
from a last trade or a single quote, which ignores how much size the market
could actually absorb.

HDL replaces those shortcuts with a single reference book that represents the
market as a whole, much as one central order book serves as the reference for
a listed futures contract.

## What you get

> **Deeper books**
>
> Liquidity from multiple markets in one book, so more size is available
> close to the price.

> **Tighter spreads**
>
> Small orders trade at the best prices available across the market.

> **Realistic fills at size**
>
> Large orders fill against the depth the book displays, at prices the
> market could actually deliver.

> **Trading 24/7**
>
> Every HDL market trades around the clock, weekends included.

> **Built-in resilience**
>
> If one source becomes unavailable, HDL continues from the others.

> **Verifiable prices**
>
> The same book drives charts, prices and fills, and is open to independent
> review.

## For traders and prop firms

> **Traders**
>
> Fills that reflect real market depth. Small orders get tight spreads, and
> large orders cost what they would cost in the market.

> **Prop firms**
>
> Performance measured against executable prices. The same book applies to
> every trader, so results are consistent and defensible.

## Methodology

HDL is aggregated from multiple independent sources of perpetual futures
liquidity. Every source is quality-checked continuously, and a source that
fails those checks is excluded automatically until it recovers. Losing a source
reduces the depth HDL shows, not the integrity of its prices. If HDL cannot
price an instrument reliably, it pauses that instrument rather than publish an
uncertain price.

HDL is designed around a few principles:

* **Executable realism.** Fill prices come from the book HDL displays.
* **Manipulation resistance.** No single source or single trade can set the
  price.
* **Conservatism.** Where an approximation is needed, it never favours the
  trader over the market.
* **Consistency.** Charts, the live book and fills describe the same market.

## In this section

> **[Execution and fills](https://docs.hyperprop.com/hdl/execution.md)**
>
> How orders fill against HDL, and what to expect at size.

> **[Supported markets](https://docs.hyperprop.com/hdl/markets.md)**
>
> Crypto, US indices and ETFs, and commodities, trading 24/7.

> **[Transparency and audit](https://docs.hyperprop.com/hdl/transparency.md)**
>
> How HDL is monitored, and our reporting commitments.

> **[HDL for builders](https://docs.hyperprop.com/hdl/api.md)**
>
> Free HDL market data for perpetuals platforms. Coming soon.

## Try HDL

Traders will be able to try HDL through the **Add-on Store** in the Hyperprop
app by turning on a free HDL Practice account. Evaluation and funded accounts on
HDL markets will be available through the prop firms that offer them.

## Get access

> **[Want to use Hyperprop Deep Liquidity?](mailto:ruby.hyperprop@mail.grokbot.com)**
>
> Contact Ruby Quinn at [ruby.hyperprop@mail.grokbot.com](mailto:ruby.hyperprop@mail.grokbot.com).

> [!NOTE]
>
> HDL is a market data and execution reference for simulated trading on
> Hyperprop. Trading perpetual futures with leverage carries significant risk.


## Related topics

- [HDL for builders](https://docs.hyperprop.com/hdl/api.md)
- [Execution and fills](https://docs.hyperprop.com/hdl/execution.md)
- [Transparency and audit](https://docs.hyperprop.com/hdl/transparency.md)
- [Supported markets](https://docs.hyperprop.com/hdl/markets.md)
- [Changelog](https://docs.hyperprop.com/changelog.md)


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