paraflux.
Options payoffs.
No options complexity.
No strikes. No expiry. One vault, any payoff. Power perps replace options. Built on HyperEVM with realized-variance oracles computed natively on-chain.
Why power perps replace options.
Options exist because traders need convex payoffs — but the infrastructure is broken. Strikes expire. Liquidity is thin. Market makers price gouging. Power perps solve all of it, at a fraction of the cost.
Funding, not
premium.
Power perps replace upfront option premium with continuous funding that scales as σ². Pay only for the convexity you use, for exactly as long as you hold it.
options: σ√T + premium
Any payoff.
One click.
The compiler decomposes any target payoff into power perp positions. Calls, puts, spreads, straddles, custom curves — no strikes to pick, no expiry to manage. One atomic trade.
output: compiled positions
Real LP
yield.
Deposit USDC. The vault earns real yield from trading fees and funding income. Delta-hedged automatically via grid orders on HyperCore. Not token emissions. Revenue scales with volume.
δ: ≈ 0 (hedged)
One instrument.
Every payoff.
Power perps give you convex returns. The compiler turns them into any options payoff you want. Pick a strategy or draw your own curve — the math happens automatically.
HYPE Price Change
+10%
At +10%, Paraflux 2x returns +42.0% vs +20.0% on a regular 2x perp — same leverage, 110% more profit.
Strategy presets
Cap your downside. Pay small daily funding instead of a lump-sum option premium. Floor your losses, keep the upside.
Max loss
Capped at floor
Break-even
Floor + funding
Funding cost
~0.08%/day
Cheaper than options.
Provably.
Live prices from Deribit and Derive compared to our funding costs. Same exposure, fraction of the price. Plus assets no options market covers.
| Asset | IV | Deribit | Derive | Paraflux | You save |
|---|---|---|---|---|---|
| BTC | 35% | — | — | $3.44 | — |
| ETH | 45% | — | — | $4.10 | — |
| SOL | 55% | — | — | $4.92 | — |
| HYPE | 80% | — | — | $7.70 | — |
| GOLDexclusive | 15% | — | — | $2.62 | only here |
| SILVERexclusive | 20% | — | — | $2.77 | only here |
| OILexclusive | 35% | — | — | $3.44 | only here |
Price my trade
Enter a trade and see live quotes from Deribit, Derive, and Paraflux.
Derive charges ~$91/1K. We charge ~$6. 93% cheaper, no expiry, no spread.
Deribit + Derive charge $77-81/1K. Our compiled cost: ~$4/1K. No rolling, no pin risk.
Commodities vol on-chain. No options protocol covers gold.
The compiler decomposes option payoffs into three power levels: p=2 (convexity, ~15% of notional, pays σ² funding), p=0.5 (shape tuning, ~40%, small negative base rate), and p=1 (linear delta, ~45%, pays Hyperliquid perp funding). Total cost is dominated by the small p=2 slice.
Deribit + Derive quotes fetched live via public APIs. Per $1,000 notional, ATM call, ~30 DTE. All three power levels deployed on HyperEVM testnet.
Trade the move.
Earn the yield.
Perps traders.
Squared returns on every move. Long HYPE² and your gains accelerate as price rises. Pure convex exposure — no strikes, no expiry, no rolling. Just the power perp and the vault.
Options traders.
Draw any payoff curve or target specific Greeks. The compiler decomposes it into optimal power perp positions — calls, puts, spreads, condors, custom shapes. One click, one atomic trade.
LPs.
Deposit USDC. The vault takes the other side of every trade, earning fees and funding income. Delta-hedged automatically via grid orders on HyperCore. Real yield, not token emissions.
Where we're going.
The full product suite is built and tested. Here's what comes next.
BTC + ETH with options chain. Day one.
Power perps + compiled options + strategy presets. LP vault with grid-mode delta hedging. SDK + example bots.
HYPE, SOL, gold, silver via HIP-3.
Add HYPE, SOL, and real-world assets via HIP-3 BBO precompile. Anchor vault (delta-neutral yield). Arb bot ecosystem matures.
Variance swaps + yield vaults.
Variance swaps for institutional vol trading. Anchor vault (delta-neutral) and Surge vault (leveraged directional). Vol index (BVIV) perpetual via Volmex.
Institutional LPs + 50 markets.
LP shares as collateral on HyperLend. Institutional vault deposits. Portfolio margining. Utilization-derived implied vol oracle for other protocols.
Options infrastructure is broken.
We're fixing it.
Trade smarter. Earn real yield.
Live on-chain volatility.
10 markets across crypto, commodities, and energy. Realized variance computed natively on HyperEVM — the first fully on-chain realized-variance oracle in DeFi. No Chainlink, no Pyth.
Multi-Asset Volatility Surface
On-chain realized variance — 9 assets, 5 asset classes
First fully on-chain realized variance oracle in DeFi. Updated every 5 minutes. No Chainlink. No Pyth. Computed natively on HyperEVM.
⚠ Risk disclosure
Paraflux is an experimental DeFi protocol. Smart contracts are immutable and have only been internally audited — no external audit has been performed. Use at your own risk.
Power perpetuals have a squared payoff — this amplifies both gains and losses. Combined with leverage, losses can exceed your initial collateral. Short vol positions face outsized risk during volatile markets.
Positions below the maintenance margin are liquidated automatically. Funding payments accrue continuously and can erode collateral over time.