🌐Overview

opt.fun is 1 minute expiry options platform on Hyperliquid offering fast and fun high volatility trading.

opt.fun is a decentralized options trading platform on HyperEVM that enables traders to buy and sell 1-minute expiry at-the-money (ATM) options. The platform provides a streamlined trading experience for short-term options strategies with automated settlement and collateral management.

Key Features

• High leverage: Up to 1000x leverage on deposited collateral

• 1-minute expiry cycles: Each trading cycle lasts exactly 60 seconds from initiation to settlement

• At-the-money strikes: All options are automatically struck at the current oracle price when the cycle begins

• Binary settlement: Options expire either in-the-money (ITM) or out-of-the-money (OTM)

• Gasless trading: Sponsored by the opt.fun team

Use Cases

• Speculating: Capitalize on small price movements with minimal capital via 1000x leverage

• Hedging: Quickly hedge spot positions over a 1-minute period, perhaps while your spot position is bridging from one chain to another

• Yield Farming: Provide liquidity by selling options and collecting premiums

• Market Making: Simultaneous buying and selling to capture bid-ask spreads

How It Works

1. Cycle Initiation

A new 1-minute cycle starts every minute, capturing the current Hypercore Oracle Price as the strike price for all options in that cycle.

2. Trading Phase

During the 60-second window, traders can:

• Place "Long" or "Short" orders with up to 1000x leverage.

  • Via the frontend UI, a "Long" order is a Market order for buying a Call option and selling a Put option. A "Short" order is a Market order for buying a Put option and selling a Call option.

  • Via the Trader SDK, traders can submit Market or Limit orders for buying or selling Put and Call options.

• Cancel unfilled orders

• Close out open positions

Orders are matched based on price-time priority.

3. Settlement

At expiry (the end of the 1 minute cycle), the platform:

• Fetches the final oracle price

• Determines which options expired ITM

• Automatically distributes payouts to winning positions

• Releases collateral from losing positions

4. Repeat

Get back in the arena for another cycle.

Architecture Benefits

Speed & Efficiency

• Optimized for high-frequency trading with minimal gas costs

• Fast liquidations and cancellations to protect payoffs for trade winners

• Automated settlement to reduce operational overhead

• No manual exercise required - all ITM options auto-settle

Risk Management

• Non-custodial design - users maintain control of funds

• Public order book for transparency and price efficiency

• Open codebase and on-chain transactions for trust

• Isolated cycles prevent cross-contamination of risk

• Transparent pricing via on-chain oracle feeds

• Upgradeable smart contracts for future improvements

• Pausable functionality for emergency situations

Getting Started

1. Bridge USDT0 to HyperEVM
2. Deposit Collateral: Deposit USDT collateral to opt.fun

3. Place Orders: Go long or short BTC with up to 1000x leverage

4. Auto-Settlement: Profits are automatically credited after the 1-minute expiry