Volmex Lists Bitcoin Implied Volatility Perpetual Futures on Hyperliquid

Volmex Finance has launched perpetual futures tracking its Bitcoin Volmex Implied Volatility Index on Hyperliquid, establishing the first onchain market for trading BTC volatility as a distinct asset.

The underlying BVIV index measures 30-day expected implied volatility for Bitcoin, sourcing live options data from Deribit and OKX. Index levels recently traded in the mid-to-high 30s.

The contract trades with up to 5x leverage and uses a linear payout settled in USDC. Each 1.00 point move in the index translates to a $1 USDC change per contract, allowing traders to take volatility positions without managing options Greeks.

Margin is isolated to prevent liquidations from affecting other positions on the exchange. Funding rates clear hourly to address sharp index movements, while the initial open-interest cap is set at $2 million. Traders can access the market through the Markets by Kinetiq frontend under the mkts:BVIV ticker.

Volmex CEO Cole Kennelly described the contract as an opportunity for traders and investors to execute hedging and speculative strategies without typical options trading barriers.

The listing lands on Hyperliquid, a decentralized perpetual exchange handling billions in daily trading volume with a valuation above $90 billion. While isolated margin limits collateral exposure, the index can gap between calculation intervals, posing liquidation risks for leveraged traders.