LoadingLoadingLoadingThe OpenAI pre-IPO perpetual on Hyperliquid trades at 1,329.7 points (1 point is $1B of valuation), 2.8% lower than 24 hours ago, as of . Open interest is $7.5M, 24 hour volume is $4.7M and funding is 0.0002% an hour (longs pay shorts). Entropy quotes it in market cap, so that price implies about $1.33 trillion for OpenAI, not a price per share. It is a cash-settled perpetual contract, not a share of OpenAI: it gives no ownership, votes or IPO allocation, and it keeps trading around the clock.
Valuation, about $1.33 trillion
Longs pay shorts
Venue: Hyperliquid, the io dex run by Entropy, market io:OAI. Read . A perp price is not a share price. A position gives no shares, votes or IPO allocation. Refreshed about every hour.
OpenAI has no public share price, so Entropy quotes the market in valuation and prices it from its own order book and private-market data. The Hyperliquid perpetual trades all week and all weekend.
Contract terms from Entropy's documentation, read 2026-11-03. The venue can change them. Sources: Entropy pre-IPO perpetuals, Pre-IPO assets, Oracle price, Mark price, No-IPO resolution.
| Market | Price | 24h change | Funding per hour | Open interest | Hyperliquid market |
|---|---|---|---|---|---|
| WTI Crude Oil | $89.90 | +0.3% | 0.0047% | $174.0M | xyz:CL |
| Brent Crude Oil | $97.08 | -0.014% | 0.0047% | $393.9M | xyz:BRENTOIL |
| Gold | $4,076 | +0.1% | 0.0006% | $304.3M | xyz:GOLD |
| Silver | $52.09 | +0.2% | 0.0006% | $206.6M | xyz:SILVER |
| Natural Gas | $3.10 | +1.4% | 0.0008% | $24.6M | xyz:NATGAS |
| Copper | $6.27 | +0.0064% | 0.0006% | $8.5M | xyz:COPPER |
| Platinum | $1,539 | +1.1% | 0.0006% | $2.9M | xyz:PLATINUM |
| S&P 500 | $7,392 | +0.2% | 0.0006% | $384.4M | xyz:SP500 |
| XYZ100 | $26,980 | -0.022% | -0.0008% | $287.2M | xyz:XYZ100 |
| Palladium | $1,022 | -0.2% | -0.0015% | $2.1M | xyz:PALLADIUM |
| Diesel (ULSD) | $4.34 | +0.5% | 0.0101% | $119K | xyz:HO |
| Japan 225 | 58,168 | -0.3% | 0.0031% | $3.0M | xyz:JP225 |
| Korea 200 | 796.99 | -0.2% | -0.0036% | $1.0M | xyz:KR200 |
| NIFTY 50 | 24,783.00 | +0.4% | 0.0072% | $185K | xyz:NIFTY |
| EUR/USD | 1.1152 | -0.2% | 0.00000% | $31.0M | xyz:EUR |
| USD/JPY | 158.14 | -0.088% | 0.00000% | $33.0M | xyz:JPY |
| GBP/USD | 1.3349 | -0.3% | -0.0014% | $478K | xyz:GBP |
| SpaceX (SPCX) | $135.08 | +5.2% | 0.0006% | $163.1M | xyz:SPCX |
| Anthropic (ANT) | $97.96 | -10.7% | 0.0008% | $62.0M | xyz:ANT |
| OpenAI (OAI) (this page) | 1,329.7 | -2.8% | 0.0002% | $7.5M | io:OAI |
| Oura (OURA) | $48.33 | +0.2% | 0.00001% | $795K | xyz:OURA |
No. OpenAI has not listed, so there is no public share price. Entropy's io:OAI perpetual is a pre-IPO market, and this page shows its latest price (1,329.7 points (1 point is $1B of valuation), read ). A perp price is not a share price, and it is not a forecast of any IPO price.
Entropy quotes pre-IPO perpetuals in market cap: a price of 1 represents $1B of the company's fully diluted valuation, so this price implies about $1.33 trillion. Other venues quote a pre-IPO market per share, so their prices are not comparable with this one.
Entropy's documentation, read 2026-11-03, describes it this way: OAI (OpenAI Pre-IPO Perpetual), reference issuer OpenAI Group PBC, quote asset USDC. Pre-IPO perpetuals are quoted in market cap: a price of $1 represents $1B of the company's fully diluted valuation. Entropy runs the io dex on Hyperliquid.
No. Entropy says a pre-IPO perpetual is not equity and conveys no ownership, voting rights, dividends, information rights, IPO allocation or claim on the issuer.
Hyperliquid lists a pre-IPO perpetual contract on OpenAI (OAI). You get leveraged price exposure with no expiry date, not shares, votes, dividends or an IPO allocation. Whether you can trade it depends on where you live, and AlphaYou shows research only in the US and Ontario.
The OAI funding rate was 0.0002% per hour (about 1.4% a year) when read on . Longs pay shorts. Funding is a payment between longs and shorts every hour, not a fee paid to Hyperliquid, and it moves as the perpetual's price drifts from the market it follows.
Open interest in the OAI perpetual was $7.5M and trading volume over the last 24 hours was $4.7M, with leverage up to 6x, read on .
No. Annualizing the current hourly rate illustrates that rate held constant for a year. Funding can change direction and magnitude. It is separate from entry and exit trading fees, and neither open interest nor trading volume tells you the cost of your own fill.
No. It reports where the perpetual traded at one moment, and it can move in either direction. This page is research, not investment advice.
Prices were read from Hyperliquid on and the page refreshes about every hour. Hyperliquid's own market page is the live source.