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Index and ETF perpetuals: S&P 500, Nasdaq-100, SPY and QQQ
SilkDEX lists 7 index and ETF perpetuals — the S&P 500 and Nasdaq-100 indices plus the SPY, QQQ, TQQQ, SOXL and EWY ETFs — margined and settled in USDC, with leverage of up to 20x on 6 markets and 10x on TQQQ. The standard fee is 0.1% maker / 0.1% taker. Note that TQQQ and SOXL are themselves 3x leveraged ETFs.
- 2 indices
- 5 ETFs
- Up to 20x
- Trades 24/7
Trade SPX500-USDC →All markets
All 7 markets
| Market | Tracks | Max leverage | Funding | Price hours | Listed by |
|---|---|---|---|---|---|
| SPX500-USDC | S&P 500 | 20x | 8h | Sun 17:00 – Fri 16:00 CT, daily break | Orderly |
| NAS100-USDC | Nasdaq-100 | 20x | 8h | Sun 17:00 – Fri 16:00 CT, daily break | Orderly |
| SPY-USDC | SPDR S&P 500 ETF | 20x | 8h | 24/5, Mon–Fri ET | mythos |
| QQQ-USDC | Invesco QQQ | 20x | 8h | 24/5, Mon–Fri ET | mythos |
| SOXL-USDC | Direxion Semiconductor Bull 3x | 20x | 8h | 24/5, Mon–Fri ET | mythos |
| EWY-USDC | iShares MSCI South Korea ETF | 20x | 8h | Mon–Fri 09:30–16:00 ET | mythos |
| TQQQ-USDC | ProShares UltraPro QQQ | 10x | 8h | 24/5, Mon–Fri ET | mythos |
From Orderly's public API as of 2026-10-13. Live prices, funding rates and volume are in the trading terminal.
Trading hours and prices
- SPY, QQQ, SOXL and TQQQ follow US stock extended hours: around the clock Monday to Friday (New York time).
- SPX500 and NAS100 follow CME futures hours: Sunday 17:00 to Friday 16:00 Chicago time, with a one-hour break each day.
- EWY follows US stock market hours: Monday to Friday, 09:30–16:00 New York time.
- Trading stays open 24/7. While the underlying market is closed the terminal shows “Market off”: you can still trade, but the index price is frozen at its last value, liquidity is thinner and prices can gap at the next open. More on market hours →
Who lists these markets, and where prices come from
SPX500 and NAS100 are listed by Orderly Network, with an index price built from Finage, TraderMade and Hyperliquid perps. SPY, QQQ, SOXL, EWY and TQQQ are community-listed by mythos through Orderly's Perp Anything program: mythos chooses the price sources and trading parameters, runs the market-making — so liquidity depends on it — and funds each market's insurance fund. Orderly still runs matching, margin and settlement. What is a community-listed market?
Before you trade
- Liquidity in these markets is far thinner than in BTC or ETH. Check order-book depth and 24h volume in the terminal before you size a trade, and consider splitting large orders.
- A perpetual is a derivative that tracks the price: you don't own the underlying asset and get no dividends or voting rights.
- Leverage magnifies losses. If the price reaches your liquidation price, the position is closed and you can lose all its margin.
FAQ
Can I trade the S&P 500 on SilkDEX?
Yes. SPX500-USDC tracks the S&P 500 index and NAS100-USDC the Nasdaq-100, with up to 20x leverage, margined and settled in USDC. ETF perps on SPY, QQQ, TQQQ, SOXL and EWY are listed too.
When do index and ETF perps trade?
Trading is open 24/7, but prices follow the underlying market: SPY, QQQ, SOXL and TQQQ follow US extended stock hours (24/5, Mon–Fri ET); SPX500 and NAS100 follow CME futures hours (Sun 17:00 – Fri 16:00 CT, daily break); EWY follows US regular stock hours (Mon–Fri 09:30–16:00 ET). While the underlying market is closed the terminal shows “Market off”: you can still trade, but the index price is frozen at its last value, liquidity is thinner and prices can gap at the next open.
What is the difference between SPX500 and SPX on SilkDEX?
SPX500-USDC tracks the S&P 500 index. SPX-USDC is SPX6900, a memecoin unrelated to the index. Check the pair before you trade.
Are TQQQ and SOXL perps leverage on leverage?
Yes. TQQQ and SOXL are 3x daily leveraged ETFs, so a 10x TQQQ position has roughly 30x exposure to the Nasdaq-100's daily moves — a few percent can liquidate it.
Who lists the index and ETF perps?
SPX500 and NAS100 are listed by Orderly Network, with an index price built from Finage, TraderMade and Hyperliquid perps. SPY, QQQ, SOXL, EWY and TQQQ are community-listed by mythos through Orderly's Perp Anything program: mythos chooses the price sources and trading parameters, runs the market-making — so liquidity depends on it — and funds each market's insurance fund. Orderly still runs matching, margin and settlement.
What are the fees and funding on index perps?
The standard fee is 0.1% maker / 0.1% taker on the notional value of each fill (1 USDC on a 1,000 USDC taker fill); open positions also pay or receive funding. Funding is exchanged every 8 hours.
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