According to Paradex Network's official Twitter post, $HYPE perpetual options are now available for trading, opening new opportunities for derivatives traders to gain leveraged exposure to the $HYPE token (source: @tradeparadex, May 5, 2025). This launch is significant as it increases $HYPE's liquidity and market depth, allowing traders to hedge or speculate on price movements with more flexibility. The introduction of perpetual options is expected to attract both institutional and retail traders, potentially boosting overall trading volume on decentralized platforms and influencing price volatility in related DeFi tokens. Traders should monitor open interest, funding rates, and implied volatility, as these metrics can provide actionable signals for short-term and swing trading strategies tied to $HYPE and correlated assets.