Cost of carry
24.2% a year
Funding actually paid over the last 30 days — longs pay at this rate. This is the running cost of holding the position, before fees.
30 days
CXMT (ChangXin Memory Technologies) is a private Chinese DRAM chipmaker — a pre-IPO company with no shares to trade, so this contract tracks a synthetic reference price rather than a market price. Tracked here on Hyperliquid (xyz) with live mark, funding, open interest and premium to oracle.
6.58 −0.20%
—
Not graded
No traded underlying — priced on Hyperliquid alone
How good a synthetic is it?
How this is graded ›Measured against the venue's own oracle — the price the perp is pulled toward, over the last 30 days of 15-minute samples.
Liquidity
$25.4M 24h volume
Open interest $39.6M. Weekend books hold 9% of weekday hourly volume.
latest snapshot
90-day history
Contract mechanics
- What it tracks
- ChangXin Memory (pre-IPO) — equities. This is a perpetual contract that references that price; it is not the underlying security, and it never expires or rolls.
- Trading hours
- No traded underlying, so there is no external session — this contract trades on Hyperliquid continuously. The contract itself trades on Hyperliquid 24/7.
- When the real market is closed
- There is no external market at any hour. The price is set by trading on Hyperliquid alone, and funding is charged against that price.
- Leverage
- Up to 10×
- Margin mode
- Isolated only
- Settles in
- USDC — margin and profit are in this token, not the quote of the underlying market.
- Deployer’s documentation
- trade.xyz docs →
In the news
27 Updated 9m ago27 stories in 24h · leaning bullish · 4 moved the price
China’s CXMT plans advanced AI memory production despite low yields
CXMT will start advanced AI memory production despite poor yields, per sources.
● Unclear
CXMT to begin HBM3E mass production despite low yields
CXMT said it will start HBM3E mass production even though yields are low.
● Unclear
Moved +2.2% in 4h
2.0× normal
China’s CXMT pushes into AI memory chip production despite major manufacturing challenges
CXMT pushes into AI memory chip production amid manufacturing challenges.
● Unclear
Moved +1.6% in 1h
2.1× normal
CXMT to Start Mass Production of Advanced AI Chips Despite Low Yields - marketscreener.com
CXMT plans mass production of advanced AI memory chips despite low yields.
● Unclear
Moved +1.6% in 1h
2.1× normal
Yield Rate Below 30%: Changxin Memory Technologies Aggressively Advances HBM3E Development
CXMT reports sub-30% yield while advancing HBM3E memory development.
● Unclear
Moved +1.6% in 1h
2.1× normal
Earlier · last 7 days
China's AI Rally Unravels as Unitree Halves, CXMT Slides 25%
Unitree shares halved and CXMT slid 25% as China's AI rally unwound.
▼ Bearish
CXMT reportedly prioritizes China demand, rejecting Apple's DRAM inquiry
CXMT reportedly rejected Apple's DRAM supply inquiry to prioritize China demand.
● Unclear
Moved −2.6% in 4h
1.7× normal
Unitree halves, CXMT slumps as China AI stock bubble has already burst
Unitree halved and CXMT slumped as China's AI stock rally reversed.
▼ Bearish
CXMT, YMTC expand chip portfolios to compete with Korean rivals
CXMT and YMTC are expanding chip portfolios to compete with Korean memory makers.
● Unclear
CXMT refuses to supply Apple with lower-priced memory chips — ECNS - UA.NEWS
CXMT declined to supply Apple with lower-priced memory chips.
● Unclear
CXMT Surged 531% on Debut — What It Means for Micron, SanDisk, and SK Hynix Investors
ChangXin Memory shares surged 531% on debut, drawing read-across to memory peers.
● Unclear
CXMT Turns Away Apple and Taiwanese Server Buyers as Beijing's Memory Self-Sufficiency Drive Tightens DRAM Supply
CXMT turned away Apple and server buyers as Beijing tightens DRAM supply.
● Unclear
CXMT forecasts CNY 132.5 billion profit: CXMT Corporation stock faces October 31 test
CXMT forecast CNY 132.5 billion in profit ahead of its October 31 test.
▲ Bullish
Chinese DRAM Maker CXMT Is Now Worth More Than Intel After Blistering Shanghai Debut: SanDisk, Micron Feel The Heat
CXMT's Shanghai debut valued it above Intel, pressuring Micron and SanDisk shares.
● Unclear
NIO Stock Rises Overnight: DRAM Bet On CXMT Pays Off As Chinese Chipmaker Soars Over 500% In Blockbuster IPO
CXMT rose over 500% in its Shanghai IPO debut, lifting NIO's DRAM-linked bet.
● Unclear
CXMT in our tools
▲ bullish · ▼ bearish · ● unclear: our read of each headline for CXMT. Headlines belong to their outlets. Our notes describe the event, not a forecast.