ICP-USD perpetuals go live on Plug with trading via Hyperliquid

ICP-USD perpetual contracts are now live on Plug, giving users a way to trade ICP derivatives through Hyperliquid without moving their assets away from the wallet.

The launch allows users to move ICP into Plug, open ICP-USD perpetual positions on Hyperliquid and withdraw their assets back out when they are finished trading.

The update comes as ICP is trading at $3.08, with the token up 42 per cent over the past month, according to the announcement.

The integration is designed to simplify access to perpetual trading by connecting Plug’s wallet infrastructure with Hyperliquid’s trading venue. Users can manage the process without having to move their funds through a separate centralised exchange.

Perpetual contracts allow traders to take long or short positions without an expiry date, although they carry a high level of risk, particularly when leverage is used. The announcement did not provide details on available leverage, fees or other trading parameters for the ICP-USD market.

For Plug users, the launch adds another route for trading ICP while keeping the movement of assets between the wallet and trading platform within the integrated flow.