Volmex Finance has launched perpetual futures contracts for its Bitcoin Volmex Implied Volatility Index (BVIV) on the decentralized exchange Hyperliquid. This marks the first onchain market allowing traders to speculate on Bitcoin's expected volatility as a standalone asset, rather than solely on price direction.
The BVIV index tracks Bitcoin's 30-day implied volatility using real-time options data from Deribit and OKX. The new perpetual contracts offer up to 5x leverage and utilize a linear payout model, where each 1.00 point movement in the index corresponds to a gain or loss of $1 per contract.
To manage risk, the platform employs USDC-collateralized isolated margin and calculates funding rates hourly. The initial open-interest cap for the product is set at $2 million. Trading is available via the Markets by Kinetiq frontend under the ticker mkts:BVIV.
Hyperliquid, which hosts the contracts, is a decentralized perpetual futures exchange with a valuation exceeding $90 billion. While the isolated margin structure limits potential losses, the developer notes that volatility indices can experience sharp price gaps, which may lead to rapid liquidations for leveraged positions.
