NEAR Adds 24/7 NIFTY 50 Perpetual With Cross-Chain Funding

$NEAR has added a round-the-clock perpetual contract on India's NIFTY 50 index to its $NEAR Perps interface, combining leveraged exposure to the 50-stock benchmark with cross-chain funding through $NEAR Intents.

“Trade India's top 50, 24/7,” $NEAR Protocol said in its Nov. 4 announcement, naming Hyperliquid and trade[XYZ] as the infrastructure behind the market.

The XYZ contract specification sets a maximum of 20x leverage with isolated margin. It references the NIFTY 50's native rupee-denominated level without foreign-exchange conversion; index-point profits and losses are cash-settled in USDC.

Traders get synthetic price exposure, not ownership of Indian shares or index-fund units. XYZ's risk disclosures say perpetuals confer no voting, dividend or delivery rights.

$NEAR supplies the interface and funding route, rather than a separate stock market. XYZ defines listings, oracle inputs and leverage limits, while Hyperliquid's trading engine matches orders and maintains positions. $NEAR says its funding integration automatically swaps assets from supported chains into the margin currency, removing the need for users to bridge to the trading venue themselves.

How Pricing Continues After Hours

The National Stock Exchange of India's normal equity session closes at 3:30 p.m. Indian Standard Time. XYZ's NIFTY pricing schedule uses external prices from 9:15 a.m. to 3:15 p.m. IST on ordinary weekdays, then switches to internal pricing overnight and on weekends.

Under XYZ's oracle rules, the reference price starts from the last external price and adjusts using order-book prices, smoothed over a 30-minute time constant. When external inputs resume, the oracle returns to externally derived pricing on the next update. XYZ warns that internal prices can diverge from the last external price and trigger liquidations.

XYZ's published entry-tier trading fees are 0.09% for takers and 0.03% for makers under standard pricing, versus 0.009% and 0.003% in growth mode, before discounts. $NEAR's terms also allow interface, swap and bridge charges.

The addition follows $NEAR's Oct. 27 introduction of a Jio Platforms pre-IPO perpetual, which initially allowed 5x leverage. XYZ now marks that market as converted. XYZ also offers an S&P 500 index perpetual with a 50x leverage limit and an index licensing agreement.

What Confidential Funding Conceals

Access is jurisdiction-limited. $NEAR Perps excludes U.S. persons and users in other restricted jurisdictions. XYZ's own interface terms separately exclude the United States, Canada, the United Kingdom and sanctioned territories, among others. $NEAR's terms require users to be legally permitted to access derivatives under applicable local law.

$NEAR says it provides a dedicated Hyperliquid trading account whose deposits and withdrawals are confidential. Its privacy policy says Confidential Mode reduces public visibility, but does not limit the operator's access to transaction information. Operators of the confidential environment, solvers and bridge operators can see the details needed to process transactions; information can also be shared for security, analytics, compliance and legal purposes.