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Hyperliquid perp markets and HIP-3 dexs: listings, leverage, OI caps, volume, funding rates

hl_markets

Use when an agent lists what trades on Hyperliquid or ranks every perp by funding rate. Input: optional dex (main, xyz, flx...), sort (oi, volume, leverage, name, funding, funding_neg, funding_abs; funding sorts default to dex=main), limit (1-200). Output: JSON without dex: core and HIP-3 totals and every dex; with dex: each market's funding (hourly % and APR), mark, OI, volume, 24 h change, max leverage, OI cap use. Example: ?sort=funding&limit=20 Price: $0.002 USDC (Base or Solana) via x402.

Tool call template

This tool declares no required parameters. Add optional parameters from the input schema as needed.

{
  "id": 1,
  "jsonrpc": "2.0",
  "method": "tools/call",
  "params": {
    "arguments": {},
    "name": "hl_markets"
  }
}

Input Schema

NameRequiredDescriptionDefault
dexNoHIP-3 dex name (xyz, flx, vntl, km...) or main for core perps; omit for the dex overview. Unknown dex: 400 before payment
sortNoMarket order (default oi). funding = highest funding first, funding_neg = most negative, funding_abs = largest |funding|; funding sorts use dex=main when dex is omitted
limitNoMarkets returned with dex (1-200, default 50)

Schema Changelog

Changes observed during successful MCP inspections.

  1. Changed1 schema field changed
    • changedInput schema / properties / sort / description
      Previous value: -"Market order with dex (default oi = open interest)"New value: +"Market order (default oi). funding = highest funding first, funding_neg = most negative, funding_abs = largest |funding|; funding sorts use dex=main when dex is omitted"
  2. Added

TDQS

A4/5.0
Behavior4/5

Does the description disclose side effects, auth requirements, rate limits, or destructive behavior?

With no annotations, the description carries the full burden and does substantial work: it discloses the paid x402 pricing model and price point, the difference in returned payload with and without the dex parameter, and the default that funding sorts fall back to dex=main. It does not cover response size, rate limits, or what a payment failure looks like, so it stops short of complete.

Agents need to know what a tool does to the world before calling it. Descriptions should go beyond structured annotations to explain consequences.

Conciseness5/5

Is the description appropriately sized, front-loaded, and free of redundancy?

Front-loads the usage trigger, then moves through Input, Output, and an example in a compact pattern with no filler sentences. Every clause, including the price note, conveys something the agent needs before calling.

Shorter descriptions cost fewer tokens and are easier for agents to parse. Every sentence should earn its place.

Completeness4/5

Given the tool's complexity, does the description cover enough for an agent to succeed on first attempt?

For a three-parameter, all-optional tool with no output schema and no annotations, the description supplies the missing return-value shape (funding hourly % and APR, mark, OI, volume, 24h change, max leverage, OI cap use) and the transport/cost model. Only operational limits like rate limits or maximum payload size are absent.

Complex tools with many parameters or behaviors need more documentation. Simple tools need less. This dimension scales expectations accordingly.

Parameters3/5

Does the description clarify parameter syntax, constraints, interactions, or defaults beyond what the schema provides?

Schema description coverage is 100%, so the schema already documents dex, sort, and limit including the funding_neg/funding_abs distinctions and the 1-200 range. The description restates the same enum values and the dex=main fallback rather than adding new meaning such as valid HIP-3 name sources or sort tie-breaking.

Input schemas describe structure but not intent. Descriptions should explain non-obvious parameter relationships and valid value ranges.

Purpose4/5

Does the description clearly state what the tool does and how it differs from similar tools?

States a specific verb and resource: listing what trades on Hyperliquid and ranking perps by funding rate, with HIP-3 dex coverage named in the title. It is clearly distinguishable from a single-market tool, but it does not explicitly differentiate itself from siblings such as hl_funding_screener or crypto_perp_screener that an agent could plausibly pick instead.

Agents choose between tools based on descriptions. A clear purpose with a specific verb and resource helps agents select the right tool.

Usage Guidelines4/5

Does the description explain when to use this tool, when not to, or what alternatives exist?

"Use when an agent lists what trades on Hyperliquid or ranks every perp by funding rate" gives a concrete positive trigger, and the dex/sort combination implicitly tells the agent how to switch between overview and per-market modes. It offers no when-not guidance and never names a competing sibling to route away from.

Agents often have multiple tools that could apply. Explicit usage guidance like "use X instead of Y when Z" prevents misuse.

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