Plugging Hyperliquid into Your AI Stock Trading Stack

Crypto traders desperate for action are increasingly leveraging Hyperliquid venues to bring high-growth stock tokens into their DeFi strategies.

Yesterday, Ondo expanded its bridge, enabling users to move 35 tokenized stocks and ETFs directly onto HyperEVM through LayerZero. While Felix Protocol already provides access here, its 260+ tokenized stocks are only available within its front end – restricted to non-U.S. users. Ondo's Bridge offers its set of tokenized stocks to anyone on the HyperEVM, while also making them portable between applications.

This expands the potential for delta-neutral trades on equities, such as the AI chip and memory stocks that the market is oh so hot on right now, while also setting up tokenized stocks to be plugged deeper into lending markets. Beyond all that, this integration also opens up possibilities for automated strategies that trigger onchain actions from offchain signals.

One automation idea is particularly relevant this week. I'll outline it below for Bankless Premium members, after a quick rundown on how these tokenized stocks work.

Ondo's Offerings

Initial bridged equities include flagship assets like SPY and QQQ alongside the market's AI favorites: NVDA, AMD, TSM, MU, INTC, SNDK, CRWV, ORCL. I focus on these because their popularity makes them strong candidates for delta-neutral strategies. The full list of supported assets is on CoinGecko.

Tokenized stocks give exposure to the price behavior of the underlying equity, nothing more. Holders don't get voting rights, shareholder information rights, or any direct ownership of the underlying company. Owning NVDAon tracks Nvidia's value through Ondo's structure; it does not make you an Nvidia shareholder!

Pricing for these assets comes from Chainlink's tokenized equity feeds, which cover regular hours, pre-market, post-market, and overnight sessions. That gets you 24/5 coverage, not 24/7. Weekends and market holidays still leave gaps, and stale-price periods are part of how these assets behave. Still, 24/5 goes further than traditional retail brokers, who generally limit you to normal market hours unless you pay extra.

Delta-Neutral Strategies

Perhaps the most obvious use case here is delta-neutral trading.

The setup: buy the spot tokenized stock, short the matching perp, and try to collect funding while reducing directional exposure.

Funding rates are the mechanism perps use to stay close to spot prices. When a perp trades above spot, pushed there by the majority of traders being long, shorts earn fees. When it trades below spot for the opposite reason, longs earn fees. With everyone and their mother long AI, shorts have been earning fees at strong, double digit APYs.

An example of how you'd do this: buy CRWVon spot, then short the CRWV perp on 1x leverage. The key is checking the funding direction first, since that determines which side gets paid.

The catch is that these spot tokens and perps price through different systems. Trade.xyz, one of the main HIP-3 venues for equity perps, runs its own oracle and relayer setup, while Ondo, as mentioned, marks its tokenized stocks via Chainlink.

This difference in oracles can create basis risk, especially outside regular market hours.

Automating Public Filings

With newly onchain signals comes the increased possibility of automating complex trades.

Leopold Aschenbrenner's Situational Awareness fund disclosure arrives this week. For those who don't know, Aschenbrenner is a 24-year-old whose fund has become a fixation online for its legendary public performance.

His fund's size requires him to publicly disclose its quarter-end long U.S. equity holdings by Friday. Given his recent visibility, the disclosed names will likely move on release. Many will be watching. Our Limitless podcast is doing a breakdown episode on it.

One could build a simple automation around this. First, monitor the SEC's EDGAR data for Situational Awareness's filing. Then parse the tickers when the filing goes live. Then match those tickers against Ondo's available bridged assets on HyperEVM. From there, execution matters. For spot tokenized stocks, you could use 0x's Swap API, which supports HyperEVM through chainId 999, to route into the relevant Ondo asset. For perps, you could use Hyperliquid's API or SDK to open or manage the matching perp position.

I've been tinkering with this over the past few days. I used Codex to set up a Hetzner virtual private server (VPS), then built out the strategy with the above APIs. It's pretty straightforward and costs about $6 to set up, mostly for the VPS.

Offchain Comes Onchain

The bigger picture is that more stocks onchain means more room for automation, and more ways to capture upside while traditional markets sleep. Hyperliquid's HIP-3 perps have already shown this dynamic in action, most notably with oil.

There's potentially an arbitrage opportunity in automating these strategies. The composability of crypto works cleanly with the public API feeds, mapping onto the 24/7 nature of Hyperliquid’s perps markets so we can (potentially) capture upside while the majority of traditional markets sit on the sidelines. 

This won’t last forever though. Perps will become more commonplace. Markets will become more 24/7. While we’re ahead, it’s good to take advantage.