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

# Perp RFQ

> Request increased liquidity for large perp orders and execute with improved pricing.

<Note>
  Perp RFQ is in **private beta**. [Request access](https://hyperdash.com/rfq) and our team will verify your eligibility.
</Note>

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

<Steps>
  <Step title="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**.
  </Step>

  <Step title="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.
  </Step>

  <Step title="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.
  </Step>

  <Step title="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.
  </Step>
</Steps>

## Key parameters

| Parameter               | Value                                                           |
| ----------------------- | --------------------------------------------------------------- |
| Maximum order size      | \$500,000 notional per request                                  |
| Execution window        | 30 seconds, then the request expires                            |
| Market maker reply time | 5 seconds to add liquidity or pass                              |
| Size input              | USDC notional or base asset amount                              |
| Direction               | Hidden from market makers by default, optional to disclose side |
| Access                  | Private beta, invite-only                                       |

## Live markets

Markets where market makers are actively providing liquidity today:

| Group    | Markets                                                         |
| -------- | --------------------------------------------------------------- |
| Indices  | SP500, XYZ100                                                   |
| Equities | AAPL, AMZN, GOOGL, META, MSFT, NVDA, TSLA, MU, SNDK, SKHX, SPCX |

<Note>
  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.
</Note>

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:

<Frame>
  ![RFQ coverage spans equities, indices, commodities and crypto](https://hyperdash.com/landing/rfq/rfq-markets.webp)
</Frame>

| Category       | Markets                                                           |
| -------------- | ----------------------------------------------------------------- |
| Crypto         | BTC, ETH, HYPE, SOL, XRP, ZEC, LIT                                |
| Equities       | AMD, ARM, CBRS, COIN, CRCL, HOOD, HYUNDAI, INTC, MRVL, MSTR, SMSN |
| Commodities    | GOLD, SILVER, CL, BRENTOIL                                        |
| Indices & ETFs | EWY, DRAM                                                         |

## FAQ

<AccordionGroup>
  <Accordion title="How do I get access?">
    Perp RFQ is in private beta and invite-only. [Request access](https://hyperdash.com/rfq) and our team will verify your eligibility.
  </Accordion>

  <Accordion title="What do market makers see?">
    The market and the size of your request. Your trade direction stays hidden unless you enable **Disclose side**.
  </Accordion>

  <Accordion title="Why would I disclose my 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.
  </Accordion>

  <Accordion title="Am I obligated to trade after requesting?">
    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.
  </Accordion>

  <Accordion title="Does RFQ cost extra?">
    No. There is no additional fee for using RFQ. Standard Hyperdash trading fees apply to the executed order.
  </Accordion>

  <Accordion title="What happens if no market maker responds?">
    The request expires after 30 seconds and nothing executes. You can submit a new request at any time.
  </Accordion>
</AccordionGroup>