Nvidia perpetual futures slide about 3% on Hyperliquid

The xyz:NVDA market drew more than $130 million in volume as traders took leveraged positions on the chipmaker's stock, all settled in USDC Nvidia perpetual futures on Hyperliquid fell roughly 3% over a 24-hour window, according to platform data. The move landed in the xyz:NVDA market, which lets traders bet on Nvidia’s stock without owning a single share. The numbers behind the drop On November 9, 2026, the xyz:NVDA contract lost about 3.1% to 3.3% within a day. Mark prices sat around $180.76 to $180.96 during that stretch. The mark price is the reference value an exchange uses to judge whether a leveraged position is still healthy. If that number moves the wrong way, positions can be liquidated even when the last traded price looks fine. Activity was busy. Trading volume on xyz:NVDA topped $130 million, with figures ranging between $131 million and $180 million depending on the snapshot. Open interest, meaning the total value of contracts still open, ranged from $66.9 million to $133 million. The spread reflects when the reading was taken. Funding rates told a mixed story. Recent hourly readings came in around 0.00063%, though the rate also showed fluctuating negative spikes. Fun...