How to Trade Oil on Hyperliquid (24/7, Including Weekends)

You can trade oil 24/7 on Hyperliquid, including weekends, on Faro.

As of Nov 6, 2026, 9:21 AM UTC, the price of CL is $89.09, and the 24-hour volume is $266.4M. CL Open Interest is $157.8M.

See the full oil dashboard on Faro.

Can You Trade Oil 24/7?

CME oil futures trades nearly 24hrs a day on weekdays, apart from a daily one hour halt, and weekly close Friday afternoon to Sunday evening. 

Hyperliquid oil perps trade 24/7, which allows traders to react to news immediately instead of waiting for the futures markets to open.

	Trading Hours	Weekend Trading	Settlement
CME WTI	Sunday 5pm to Friday 4pm CT. Mandatory 60 minute daily maintenance break each day from 4pm to 5pm CT.	No	Deliverable futures contract. FInal settlement is tied to the expiring contract’s settlement process at Cushing, Oklahoma
ICE Brent	Monday 1am GMT to Friday 11pm GMT, with a pre-opening starting at 12:45am. On Sundays, pre-open begins at 9pm GMT with the market opening at 10pm GMT.	No	Cash settled against the ICE Brent Index, reflecting the Brent crude complex
Hyperliquid Oil Perp (HIP-3)	24/7. HIP-3 markets never close	Yes	No expiry or physical delivery. Marked and funded against its underlying oil reference price

Can You Trade Oil on the Weekend?

You can trade oil on weekends on Hyperliquid, as their perps trade 24/7, whereas CME and ICE are closed on weekends. 

But how does the market work when trading is closed? With no oil market open over the weekend, the oracle and mark start from Friday’s closing print and then follow Hyperliquid’s order flow. When news breaks while CME trading is closed, Hyperliquid prices first, and when the CME reopens, the oracle returns to the external price.

Over the weekend where Hyperliquid moved more than about 0.6% between Friday's close and Sunday's reopen, it called the direction of the CME reopen correctly every time.

Last updated 06/11/26

How Oil Perps Work on Hyperliquid

Oil perps on Hyperliquid are HIP-3 markets, which lets a deployer stake HYPE, define the market and its oracle, and run it on Hyperliquid’s order books. Hyperliquid’s engine then does the rest by matching orders, holding margins, liquidates, settles, and pays funding. 

Funding on oil perps works the same way as crypto perps, paid every hour as on every Hyperliquid perp. When the perp price is above the oracle price it means longs pay shorts, and when it is below, then shorts pay longs. The difference here is the size of the base rate. 

Trade.xyz halves Hyperliquid’s funding formula on every xyz market, putting the baseline funding at 5.5% a year. However, Hyperliquid’s crypto perps do not have that same cut. Funding is also measured against a different oracle at different times. When CME is open, the oracle is the real oil price, and when it closes, the oracle then follows Trade.xyz’s order book. When it is the weekend and CME is closed, oil funding is then paid against a price set by the market, not by CME.

How to Trade Oil on Hyperliquid

Faro lets you trade crude oil through the CL.USDC perpetual market.

1. Fund your account with USDC.
2. Choose CL.USDC from the asset list on the Faro dashboard and set leverage and margin.
3. Choose your order type. 'Market' will fill immediately at the best price available and 'Limit' lets you set your own entry price.
4. Size your position, and watch the market. Checking the chart, orderbook, and funding rate is useful when timing your entry and gauging liquidity.

Reading Oil Perp Data

There are three numbers to consider when you want to know what is happening in the oil perp market: funding, open interest, and liquidations.

• Funding. Funding is a payment between traders paid every hour that keeps the perp price close to the real oil price. When perps are trading above oracle price it means people betting on higher prices are paying people betting on lower prices, and vice versa.
• Open Interest. Open Interest is the money still sitting in open positions. OI rises when traders open new positions, and lowers when they close them or are forced out.
• Liquidations. A liquidation is the forced closing of a leveraged perp position and happens when a trader can no longer cover their margin.

Reading funding, open interest and liquidations before trading oil helps answer questions that you cannot get from the price chart alone. You can see what holding a position costs, whether new money is entering, and where forced selling or buying could hit, especially on weekends when most oil markets are closed.

Trade Oil on the Faro Oil Dashboard

The Faro Oil Dashboard is an overview of CL, the WTI crude oil perp on Hyperliquid. Here you can see the live price, open interest, funding rates, and 30-day range.

Beyond that, the dashboard pulls in EIA fundamentals like crude stocks, events, and weekend tape showing how CL moves when CME is closed.

You can also track positioning, including top-trader long/short skews, and spreads and carry like WTI Brent.

See the full oil dashboard on Faro.

Oil Catalysts to Trade

The next EIA Inventory Report is duein 6d 7h

OPEC+ is one of the few catalysts that can land on a weekend, with seven of its members meeting weekly to review the market. On October 4th, 2026, the OPEC+ members agreed to keep November production at September levels, extending the pause that began in October. The next meeting is set to be held on November 1st, 2026, and because this falls on a Sunday when most oil markets are closed, Hyperliquid oil perps will be the first place that traders can trade the result. 

Big geopolitical news often breaks over a weekend when most oil trading markets are closed. In early March, the WTI perp on Hyperliquid jumped to $111.53 on a weekend, when traditional markets were closed. These gaps can be large, and trading only when traditional markets are open means that traders only react after the move has happened. This is why Hyperliquid is the natural place to trade oil events, so that traders can act when the news breaks, and not when the market opens.

Oil Perps vs CME Oil Futures

Hyperliquid’s oil perps and CME’s WTI futures track the same barrel of oil, however they differ in hours, size, expiry, and how a trader pays to hold a position.

	CME WTI Futures	Hyperliquid Oil Perps
Hours	Sunday 5:00pm → Friday 4:00pm CT, with a 60-minute break daily	24/7, including weekends
Contract Size	1,000 barrels, or 100 barrels for the Micro contract	Sized in units worth roughly one barrel each
Expiry	Monthly. Trading ends 3 business days before the 25th of the month before the contract month	None. A perp carries no expiration or delivery
Settlement	Physical delivery in Cushing, Oklahoma	Margined and settled in USDC
Cost of Holding	Rolling into the next month before expiry	Hourly funding, with baseline funding at 5.5$ a year
Access	A futures brokerage account	A wallet, USDC on Arbitrum, and a deposit on Hyperliquid
Leverage	Set by exchange margin rules, which change over time	Up to 20x

Risks of Trading Oil Perps

While oil perps give you weekend access, the same features that make them useful can also create risks.

• Oracle gaps when the underlying is closed. When traditional markets are closed, the price stays fixed at time of close, while the oracle moves on Trade.xyz’s internal pricing. This means that for the two days over the weekend, the reference price is set by the market and not by CME, which means a real-world move won’t show in full until it reopens.
• The weekend price can differ from Monday open. Across 614 market-weekends, the median gap between the final weekend price and the reopening price was 53.4 bps. When CME reopens, the contract then settles back to the external price, meaning a weekend position can gain or lose at that moment.
• Weekend liquidity is thinner. The weekend order books keep about 31-50% of their weekday depth, with the biggest fills costing more. A single large trade can sharply move the contract and trigger liquidations.
• Leverage and liquidation. Hyperliquid oil perps leverage allows up to a 20x, which is a move of roughly 5% to erase your margin. Liquidations trigger off the mark price, and a cross-margin backstop liquidation takes all of your cross positions.

FAQs

Does oil trade 24/7?
Oil trades 24/7 on Hyperliquid, whilst stock and futures exchanges are shut on weekends.

Can you trade oil on the weekend?
Yes, on Hyperliquid. CME and ICE oil futures are closed from Friday evening until Sunday evening. 

Does Brent oil trade 24/7?
Yes, on Hyperliquid however ICE Brent futures close on weekends. 

Can you trade oil futures 24/7?
No, CME WTI futures trade from Sunday 5pm to Friday 4pm CT, with a 60 minutes break each day. If you want to trade oil futures 24/7, then you can use a perpetual contract on Hyperliquid which has no expiry.

Where can I see oil perp funding and OI in real time?
On the Faro oil dashboard. It shows funding, price, open interest and liquidations all in one place.