NEAR Protocol has enabled confidential-by-default trading for perpetual futures on near.com, adding a privacy layer to its existing Hyperliquid integration while maintaining access to the exchange's public order books.

Traders can open Hyperliquid perpetual positions through near.com using assets held on more than 30 supported chains. NEAR Intents manages the funding route and converts deposits into margin collateral, eliminating the need to manually bridge assets into Hyperliquid before trading.

While the positions themselves remain visible on Hyperliquid's order book, the confidential layer obscures the link the funding transaction and the trader's account. This prevents outside observers from tracing a position back through its deposit path and related wallet activity.

Privacy Layer Added to Hyperliquid Integration

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

The setup builds on a privacy system that was already seeing growing 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. How quickly leveraged traders take up the same option now offers a direct point of comparison for that swap figure, given that both features run through the same confidential infrastructure.

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. On transparent chains, pending transactions are typically visible to outside observers before they are confirmed, which is the visibility window that front-running and MEV strategies rely on. The system is designed to reduce front-running, limit MEV exposure, and hinder the ability to trace activity across connected wallets.

The $70 million figure covers NEAR's broader confidential infrastructure, not only perpetual futures positions. Separately, 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 beyond transfers and swaps into leveraged trading, where public wallet histories can reveal collateral movements and connect positions to other on-chain activity. NEAR previously launched confidential payments that obscure the full cross-chain route behind supported transfers, and perpetuals now apply the same broader approach to funding trading positions. With the first NEAR@3.33 snapshot recorded at the $70 million level, the milestone program also provides a marked reference point for a confidential stack that now spans transfers, swaps, and leveraged trading.

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.