NEAR Protocol has launched confidential perpetual futures trading through its existing Hyperliquid integration, making position ownership private by default. The update went live on September 17 and extends NEAR’s privacy-focused infrastructure into leveraged derivatives trading.
The feature uses NEAR’s Confidential Intents system to separate a trader’s public account from the funding and trading activity associated with a position. This makes it harder for outside observers to connect a specific wallet with a leveraged trade.
How the Confidential Perps System Works
The privacy layer does not make the underlying perpetual markets invisible. Hyperliquid continues to provide the trading engine and liquidity, while NEAR handles confidential routing and cross-chain funding.
Traders can access more than 50 perpetual markets and leverage of up to 40x through the NEAR interface. Funding can originate from more than 35 supported blockchains, with NEAR Intents handling the conversion into trading collateral.
Key features include:
- Position ownership hidden by default
- Confidential funding routes
- Access to Hyperliquid’s existing perpetual markets
- Cross-chain deposits without manually moving assets between wallets
- Up to 40x leverage across supported markets
Privacy Expansion Comes as TVL Passes $70 Million
The launch follows a milestone for NEAR’s broader confidential infrastructure. Confidential Intents surpassed $70 million in total value locked on September 17, triggering the first snapshot under NEAR’s incentive program.
The development also arrives as traders increasingly focus on privacy in onchain markets. Public blockchain records can expose wallet relationships, collateral movements and trading activity. NEAR’s approach aims to obscure those links while retaining access to established market liquidity.
The distinction is important: the system hides the connection between a trader and a position, rather than removing the position itself from Hyperliquid’s trading environment.
Market data showed heightened activity around the announcement, with NEAR experiencing a sharp rise in trading volume and token price. Perpetual futures remain a leveraged product, however, meaning losses can also increase rapidly when traders use leverage.
