Futu's moomoo Integrates Hyperliquid On-Chain Perpetual Contract Data
Claire Weston
Futu's moomoo app began pulling Hyperliquid on-chain perpetual-contract quotes on June 11, starting with SpaceX pre-IPO contract SPCX — the first time a mainstream brokerage app has put on-chain derivatives pricing on retail investors' watchlists.
What data did moomoo add?
Users search SPCX, SPCX-USDC, or SpaceX in the moomoo app and select the entry tagged Perp to add it to their watchlist.
The quote page shows two key figures: an Oracle reference price (Hyperliquid's weighted reference price) and an implied valuation (derived from the perpetual-contract price to reflect the market's implied pricing of SpaceX).
This means → users can see what the on-chain market prices SpaceX at — no crypto wallet, no exchange account, just the brokerage app they already use.
What exactly is a perpetual contract?
SPCX is a pre-IPO perpetual contract — a synthetic derivative with no expiry date that tracks SpaceX's market-implied price.
In plain terms = no real shares change hands. Traders use funding rates and oracle prices to bet on what SpaceX will be worth when it eventually lists.
This reflects a broader trend: on-chain derivatives are creating a "shadow price" for companies that haven't gone public — a signal invisible in traditional markets, now surfaced inside a traditional app.
Can moomoo users trade these contracts?
No. Moomoo states explicitly that it does not offer perpetual-contract trading — it displays market data only.
All prices and implied valuations come from Hyperliquid, are for reference only, and do not represent SpaceX's actual valuation, market price, or any official figure. The display does not constitute investment advice.
This means → moomoo acts as a "data window," not a trading channel. Users can watch on-chain pricing, but placing orders still requires going to an on-chain platform.
Why does this matter?
A mainstream brokerage app pulling on-chain derivatives data is a concrete signal that on-chain financial information is reaching mainstream investors.
In plain terms = pricing that only crypto-native traders could see before now appears in the search bar of moomoo's tens of millions of users.
The boundary is equally clear: look but don't touch. Data stays data, trading stays separate — the broker is testing how far it can surface on-chain information within a compliance framework.
Content is for reference only, not financial advice.