> ## Documentation index > Fetch the complete documentation index at: https://hypertake.net/llms.txt > Use this file to discover all available pages before exploring further. # Market types > The kinds of HIP-4 outcome market: price above, touch, strike ladders, multi-outcome questions, games and IPOs Source: https://hypertake.net/docs/outcomes/market-types · Last updated: 2026-10-17 Every HIP-4 market is a two-sided outcome, but they ask different kinds of question. **Price markets** ask where a Hyperliquid perp's price will be; **event markets** ask about sports, central-bank decisions, awards and company listings. Several outcomes can be grouped into a **question**, where exactly one wins. | Type | Example title | Yes wins if… | Sides | | --- | --- | --- | --- | | **Price above** | BTC above $81,000 at 08:00? | The price, by the market's source, is above the strike at the time | Yes / No | | **Touch** | BTC touches $92,500 by Nov 1 | The price reaches the target at any moment before the deadline | Yes / No | | **Strike ladder** | Several "ETH above…" markets at one time | Each strike is its own above market | Yes / No each | | **Price buckets** | BTC at 06:00: below / between / above | The price lands in that bucket; exactly one bucket wins | Yes / No each | | **Question** | Premier League winner, a Fed rate decision | That outcome is the one named by the official source; exactly one wins | Yes / No each, plus "Other" | | **Game** | Ravens v Browns, a total, a spread | That team wins, the total goes over, the spread is covered | Team names, Over / Under, Yes / No | | **IPO** | A company's IPO confirmed by a date; first-day market cap above $X B | The listing is confirmed, or the first-day value clears the threshold | Yes / No | _Each market's own page states its rule in full under How it settles. The full wording comes from the market's template on Hyperliquid._ ## Price above The most common market. It names a perp (BTC, ETH, HYPE, gold, an index), a **strike** and a time: Yes if the price is above the strike then, No otherwise. The price is not a single tick: each market names a short average of a specific source, such as "the 90-second TWAP of the Pyth BTC/USD price". See [How markets settle](https://hypertake.net/docs/outcomes/settlement.md). > **Note: Exactly at the strike** > The deployer template says "above", so a price exactly at the strike settles No. Hyperliquid's own recurring daily markets settle Yes at "≥ target" ([contract specs](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/contract-specifications#recurring-outcomes)). If you trade close to the strike, read that market's rules. ## Touch A touch market asks whether the price reaches a **target** at any point before a deadline, not where it ends up. Live touch markets measure the perp's mark price over a 3-second average, and the template allows the market to settle "as soon as a touch occurs", so a touch market can end before its deadline. The chart labels the level **Target** instead of **Strike**. ## Strike ladders Deployers often list several above markets on the same perp and time at different strikes: ETH above $2,662, $2,738 and so on, all at 08:00. Each strike is a separate market with its own book. Together they sketch where traders expect the price to land: the strike whose Yes is near 50¢ is roughly the market's median. The phone lists every strike as its own card. ## Price buckets Hyperliquid runs a recurring daily BTC question with three buckets: below a lower price, between the two, and above the upper one ([contract specs](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/contract-specifications#recurring-outcomes)). Exactly one bucket settles to $1. The desktop lists these as "Below $X", "$X – $Y" and "Above $Y"; the phone's feed leaves them out, but a position you hold in one always shows. ## Questions: several outcomes, one winner A **question** groups outcomes where exactly one will settle Yes and all others No: who wins a league, which candidate wins an award, whether a central bank cuts, holds or hikes. Every outcome in a question is its own Yes/No market with its own book, and Hyperliquid adds an automatic **Other** outcome that wins if none of the named ones does ([deployer docs](https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/api/hip-4-deployer-actions)). **Example: A Fed decision as a question** - The question: the Federal Reserve's October 2026 decision on the upper bound of the federal funds rate, with federalreserve.gov as the official source. - Its outcomes: **No change**, **Rate cut** and **Rate hike** (plus Other). Each trades as its own market. - Lena thinks the Fed will hold. She buys Yes on No change at 70¢; she could instead buy No on Rate cut. - If the Fed holds, No change pays $1 a Yes share, and every other outcome's Yes pays $0. > **Info** > Hyperliquid also lets holders of a question's shares merge or convert them ("merge" and "negate" in its API). Hypertake doesn't offer those actions: you buy and sell each outcome on its own book. ## Games and other events - **Match winners** use the team names as the two sides (for example Ravens / Browns), with the result taken from the official source the market names, such as ESPN. - **Football (soccer) results** are questions with three outcomes: team A, **Draw** and team B, counted over regulation time plus stoppage time. - **Totals** use Over / Under on a line ("total 42.5"); **spreads** add a handicap to one team. - **Tournaments and awards** are questions with one outcome per contender, such as a league winner or the Ballon d'Or. - **IPO markets** ask whether a company's listing is confirmed by a date, or whether its first-day market cap clears a ladder of thresholds in billions. > **Tip: Sports are off by default** > Sports markets are hidden until you switch them on: on desktop in **Settings → Markets**, on the phone in **Account → Markets**. What you already hold always shows. ## What's live right now On 16 October 2026 Hyperliquid listed 365 outcomes in 32 questions. The largest groups were price-above markets (110), sports outcomes (over 170 across match winners, results, tournaments, totals and spreads), touch markets (13), IPO markets (13) and a handful of award and Fed-decision outcomes. Eight were Hyperliquid's own recurring markets; three deployers (venues `out`, `txyz` and `skew`) created the rest. - [How markets settle](https://hypertake.net/docs/outcomes/settlement.md): Each market's source, window and who settles it. - [Finding markets](https://hypertake.net/docs/outcomes/finding-markets.md): Closing soon, categories and search.