Skip to main content
Perp RFQ is in private beta. Request access and our team will verify your eligibility.
Perp RFQ (Request for Quote) brings institutional liquidity on demand to Hyperdash. Instead of working a large order through the visible book, you request liquidity from whitelisted market makers, who respond by adding two-sided liquidity directly to the order book: larger size, improved execution, better pricing.

​
How RFQ works

1

Submit a request

Open the RFQ tab in the trade panel, pick your market, and set your size in USDC or in the asset. Choose Buy/Long or Sell/Short. Your direction stays hidden from market makers unless you tick Disclose side.
2

Market makers respond

Whitelisted market makers receive the market and size of your request and have 5 seconds to respond or pass. Responding market makers add real two-sided liquidity directly to the public order book.
3

Watch the book improve

Your RFQ ticket tracks the order book as liquidity arrives, showing your updated estimated slippage, average execution price, and the improvement versus the pre-RFQ book.
4

Trade, or walk away

You have 30 seconds to execute. Nothing trades until you confirm, and you can cancel the request or let it expire at any time.

​
Key parameters

​
Live markets

Markets where market makers are actively providing liquidity today:
RFQ liquidity is only supported during US market hours of the Nasdaq exchange: 9:30 AM to 4:00 PM Eastern (ET), Monday through Friday, excluding US market holidays.
The live list is always shown in the RFQ asset picker in the app.

​
Future Markets

The rest of the supported universe, going live market by market as coverage is added:
RFQ coverage spans equities, indices, commodities and crypto

​
FAQ

Perp RFQ is in private beta and invite-only. Request access and our team will verify your eligibility.
The market and the size of your request. Your trade direction stays hidden unless you enable Disclose side.
Disclosing lets market makers add liquidity on one side instead of both, which can tighten your pricing. Keeping it hidden avoids signaling your intent. The choice is yours per request.
No. The added liquidity sits on the public book. You choose whether to execute, and if you do nothing the request simply expires after 30 seconds.
No. There is no additional fee for using RFQ. Standard Hyperdash trading fees apply to the executed order.
The request expires after 30 seconds and nothing executes. You can submit a new request at any time.