NEAR Makes Hyperliquid Perpetuals Confidential by Default

NEAR Protocol has made perpetual futures trading through near.com confidential by default, adding privacy to its existing Hyperliquid integration while keeping access to the exchange’s public order books.

Traders can open Hyperliquid perpetual positions through near.com using assets held across more than 30 supported chains. NEAR Intents handles the funding route and conversion into margin collateral, removing the need to manually bridge assets into Hyperliquid before trading.

The positions themselves remain visible on Hyperliquid’s order book. The confidential layer hides the connection between the funding transaction and the trader’s account, preventing outside observers from tracing a position back through the deposit path and linked wallet activity.

Hyperliquid Integration Gets Its Privacy Layer

NEAR first added Hyperliquid perpetuals to near.com in June, giving users access to more than 50 markets with leverage of up to 40x. At launch, the team identified confidential perpetuals as the next stage of the integration.

That feature is now live. Users can fund positions with supported assets from NEAR, Ethereum, Solana and other connected networks, while NEAR Intents automatically routes the assets into the margin currency used for the trade.

Execution and liquidity remain on Hyperliquid. NEAR provides the account, cross-chain funding and confidential routing around the position, rather than operating a separate perpetual futures order book.

The setup expands a privacy system that was already gaining usage through swaps. NEAR said in May that nearly half of near.com swap volume was using confidential execution less than two months after the feature became available.

Confidential Intents Crosses $70 Million in TVL

The perpetuals rollout comes as Confidential Intents surpassed $70 million in total value locked, triggering the first snapshot under NEAR’s NEAR@3.33 milestone incentive program.

Confidential Intents routes sensitive transaction information through NEAR’s private execution infrastructure rather than exposing the full transaction path through a public mempool. The system is designed to reduce front-running, MEV exposure and the ability to trace activity across connected wallets.

The $70 million figure covers NEAR’s broader confidential infrastructure, not only perpetual futures positions. NEAR Intents has processed more than $30 billion in cumulative cross-chain volume across its wider execution network.

Privacy Moves Into Active Trading

The new perps flow extends confidential execution from transfers and swaps into leveraged trading, where public wallet histories can reveal collateral movements and connect positions to other onchain activity.

NEAR previously launched confidential payments that obscure the full cross-chain route behind supported transfers. Perpetuals now use the same broader approach for funding trading positions.

Near.com’s perpetual futures interface currently supports more than 50 Hyperliquid markets with leverage of up to 40x. The product is unavailable to U.S. users and other restricted jurisdictions.

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