Market types and namespaces
HIP-3 markets are builder-deployed perpetuals on Hyperliquid, and HIP-4 markets are outcome markets. Which data types each market type serves, and from when, is on Venue coverage.
Why the market type matters
The same visible ticker can mean different things in different markets:BTCon Lighter is not a Hyperliquid core request, and a Robinhood ChainBTCis not a Lighter mainnetBTC: the two Lighter deployments keep separate markets and account indexes even when the symbol text matches.- A HIP-3 builder prefix is part of the symbol. Stripping it sends the request to a different market or none.
- A Spot pair is not a perp symbol.
- HIP-4
mark_priceandmid_pricevalues are implied probabilities in the[0, 1]range, not USD prices.
Find the namespace for a market
1
Find the market
exchange and symbol match the requested market. Keep the row’s spelling, prefix, pair separator, and any market slug. If no row matches, keep the requested spelling and stop rather than substituting another ticker.2
Name the venue and market type
Decide whether the market is on Hyperliquid or Lighter. For Lighter, name the deployment: mainnet or Robinhood Chain. Inside Hyperliquid, name core perps, Spot, HIP-3, or HIP-4.
3
Select the namespace
Use core for perp symbols such as
BTC, Spot for pairs such as HYPE-USDC, HIP-3 for builder-prefixed symbols such as km:US500, HIP-4 for outcome-market identifiers, and the Lighter namespaces for Lighter markets. Keep pair separators, HIP-3 prefixes, and HIP-4 outcome IDs intact; URL-encode a HIP-4 # as %23 in a path.404 usually means the namespace or symbol format is wrong. A 400 names the parameter or symbol to correct.