> ## Documentation Index
> Fetch the complete documentation index at: https://docs.hypedexer.com/llms.txt
> Use this file to discover all available pages before exploring further.

# HIP-4 Prediction Markets

> Indexed data for Hyperliquid HIP-4 prediction markets

<Note>
  Although HIP-4 is available on Mainnet, some endpoints are currently only on Testnet (multi answers).
</Note>

## What is HIP-4?

HIP-4 introduces on-chain prediction markets (outcome trading) on Hyperliquid. Users can trade binary outcomes (Yes/No) on questions like "BTC above 66220 on Mar 29?" or multi-outcome questions like "What will Hypurr eat the most of in Feb 2026?"

## Permissionless providers and the oracle convention

Since the permissionless-HIP4 network upgrade (2026-08-29), HIP-4 prediction markets can be deployed by third-party **providers**, a deployer address operating a named **venue**, not only by the Hyperliquid oracle. The API attributes every market, question and fill to its provider: market and fill rows carry `venue` / `deployer` fields, question rows derive theirs from their outcomes, and [`GET /hip4/providers`](/api-reference/providers/per-provider-trading-stats) aggregates trading stats per provider. The [`GET /hip4/deployers`](/api-reference/deployers/list-permissionless-deployers) registry lists each venue's operator, fee scale and delegated permissions.

Markets that predate the upgrade, and any market still emitted by the HL oracle pipeline, have **no on-chain venue**. So that aggregates are complete, the API reports them under the reserved provider name **`oracle`**:

| Where | Legacy (oracle-pipeline) markets report |
| - | - |
| `/hip4/providers` | `provider: "oracle"`, `deployer: ""` |
| `/hip4/markets` (alias `/hip4/outcomes`) | `venue: ""`, `deployer: ""`, `deployer_fee_scale: 0` |
| `/hip4/fills` | `venue: ""`, `deployer: ""` |
| `/hip4/questions` | `venue: "oracle"`, `deployer: ""` |

This `oracle` convention applies consistently across all HIP-4 endpoints. A new permissionless venue appears in `/hip4/providers` automatically after its first fill.

## Base URL

[https://api.hypedexer.com/](https://api.hypedexer.com/)

## Key concepts

| Concept | Description |
| - | - |
| **Market** (`#` coin) | A prediction market outcome (e.g. `#24371` = "BTC above 66220") |
| **Outcome Token** (`@` coin) | The spot-tradeable token for an outcome (e.g. `@10` = CHUTORO) |
| **Question** | Groups related outcomes (e.g. question 1 → Akami, Otoro, Canned Tuna) |
| **Settlement** | Resolution of a market (settle\_fraction: 0 = No, 1 = Yes) |
| **Provider** | The named venue a market is attributed to (`oracle` for legacy markets) |
| **Deployer** | The address operating a permissionless venue |

## Fee behavior

<Warning>
  Prediction market fills (`#` coins) currently have **fee = 0**: the SetOutcomeFeeScale governance action has not been activated.
</Warning>

Outcome token fills (`@` coins) are charged **normal spot fees** (taker/maker rates). The `fee_usdc` field normalizes fees to USD equivalent.

## Quick examples

<CodeGroup>
  ```bash Markets for a question theme={null}

  curl -X 'GET' \
    'https://api.hypedexer.com/hip4/markets?question_id=1' \
    -H 'accept: application/json' \
    -H 'X-API-Key: YOUR_API_KEY'

  curl -X 'GET' \
    'https://api.hypedexer.com/hip4/fills?user=0x079f56bfd27f71cbd278c27c7b121e7ef180a5be' \
    -H 'accept: application/json' \
    -H 'X-API-Key: YOUR_API_KEY'

  curl -X 'GET' \
    'https://api.hypedexer.com/hip4/fees?user=0x1733d1945f023dfece04363d26f032ef069accdc' \
    -H 'accept: application/json' \
    -H 'X-API-Key: YOUR_API_KEY'

  curl -X 'GET' \
    'https://api.hypedexer.com/hip4/providers?start=2026-08-01T00:00:00&end=2026-08-29T00:00:00' \
    -H 'accept: application/json' \
    -H 'X-API-Key: YOUR_API_KEY'
    
  ```
</CodeGroup>


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