IlliquidPERP

The market for things without markets.

Hyperliquid proved anything with a price feed can be a perpetual. ILLIQUID removes the last requirement — the feed. Submit the documents, receive a Certificate of Listing, and your house, your watch, your car trade with funding, leverage and liquidations. Everything you own has a mark price now.

Lot 001 — a suburban house, catalogued as a collectible
Lot 001 — HOUSE:MAPLE-7 · $742,000
—Assets listed
—Open interest
—Hostile listings
—Liquidations served
01 — Protocol

Submit the documents. The market does the rest.

1

Submit

Photos, papers, provenance — whatever you have. The Listing Desk accepts any asset that exists, and several that arguably don't.

2

Appraise

The appraisal engine reads your submission, cross-references comparables, and issues a formal Certificate of Listing with an opening mark price.

3

Trade

A perpetual market opens instantly. Longs pay shorts, funding accrues hourly, and yes — you can be liquidated on a garden shed.

02 — The Catalogue

This season's listings.

Suburban house, Lot 001
Lot 001
HOUSE:MAPLE-7
$742,000
Owner-listed. Recently repainted; the market remains unconvinced.
Steel dive watch, Lot 002
Lot 002
WATCH:SUB-19
$8,940
A dive watch that has never been diving. Desk damage priced in.
Aged silver sedan, Lot 003
Lot 003
CAR:COR-14HOSTILE
$9,150
Hostile-listed by the group chat. Runs fine, allegedly. Heavily shorted.
Weathered garden shed, Lot 004
Lot 004
SHED:DK-1
$1,180
High beta. Contains a lawnmower of disputed provenance.
Deadstock high-top sneakers, Lot 005
Lot 005
SNKR:AJ-85
$2,350
Never worn. Never will be. The box is insured separately.
Heritage leather handbag, Lot 006
Lot 006
BAG:BRK-30
$31,200
Waitlisted four years. Currently outperforming the S&P.
1998 motor cruiser, Lot 007
Lot 007
BOAT:GLD-98HOSTILE
$48,750
Hostile listing filed by the owner's spouse. A hole in the water surrounded by leverage.
03 — Hostile Listings

You don't have to own it to short it.

Any asset may be listed by a third party. The owner is served a formal Notice of Listing, and price discovery begins whether they like it or not. Your neighbor's renovation is now a tradeable thesis.

04 — Listing Standards

Excerpts from the rulebook.

§ 1.1

An asset need not be liquid to be listed. It need only be believed in by one party — or resented by another.

§ 4.2

Sentimental value is recognised by the Exchange at a rate of zero.

§ 7.3

The Exchange does not verify ownership. The Exchange verifies conviction.

§ 9.1

A liquidation on a garden shed carries the same dignity as a liquidation on a house. None.

ILLIQUID is a paper exchange — a fiction with working instruments. No real money, no real orders, no custody, nothing here is financial advice or financial infrastructure. Appraisals are synthetic and non-binding. Not affiliated with Hyperliquid. Assets shown in demonstration markets are fictional.
IlliquidPERP
Balance$0.00
Markets
AssetMark24hFundingOI
5x
Margin required—
Entry (est.)—
Liquidation price—
Funding (1h)—
Paper market. Nothing is real except your feelings.
Recent activity
Positions
AssetSideSizeEntryMarkLiqPnL
The Listing Desk Anything that exists can be listed
The registered owner will be served a formal Notice of Listing. Price discovery proceeds without consent. MARKED accepts no responsibility for what this does to the barbecue invite list.
Net worth (paper)
$0.00
Open positions
AssetSideSizeEntryPnL
Your listings
Paper exchange. Balances reset if you clear site data.

LIQUIDATED