Tradable Compute
The instruments on the Tradable Compute page, what each is a claim on, how an order is signed and executed without GPUQuant holding funds, what it costs, and the risks of a leveraged perpetual.
Tradable Compute lists the financial instruments that carry exposure to the compute economy, grouped by what each is a claim on: the announced CME futures, then tokens and listed companies down the supply chain from the GPU to the fab. Each row shows the venue's live price and, where the venue supports it, can be traded from the page with an order signed in your own wallet.
The instruments#
Every row is described independently of the venue that executes it, and the venue is an adapter behind the row. The list below is written from the same catalog the page reads.
| Category | Instrument | Type | What it is a claim on | Status |
|---|---|---|---|---|
| Compute futures | Silicon Data H100 Rental Index Futures NVIDIA H100 80GB SXM · futures | Futures | Cash-settled against SDH100RT, Silicon Data's daily H100 rental index. One contract is roughly one GPU rented for one month. | Announced, not yet trading |
| Silicon Data B200 Rental Index Futures NVIDIA B200 180GB · futures | Futures | Cash-settled against SDB200RT, Silicon Data's daily B200 rental index. One contract is roughly one GPU rented for one month. | Announced, not yet trading | |
| Compute finance | CHIP USD.AI · perpetual | Perpetual | The governance token of USD.AI, a protocol that lends dollars against GPUs and pays depositors from the interest. A view on GPU-backed credit, not a GPU rental price. | Trades from here |
| Decentralized compute | RENDER Render Network · perpetual | Perpetual | The token of the Render Network, a marketplace that rents idle GPUs for rendering and AI work. A view on decentralized GPU demand, not a GPU rental price. | Trades from here |
| IO io.net · perpetual | Perpetual | The token of io.net, which pools GPUs from independent operators into clusters for AI work. A view on decentralized GPU supply, not a GPU rental price. | Trades from here | |
| TAO Bittensor · perpetual | Perpetual | The token of Bittensor, a network that pays for machine-learning work in its own token. A view on decentralized AI compute, not a GPU rental price. | Trades from here | |
| Neoclouds | CRWV CoreWeave · perpetual | Perpetual | A perpetual on one share of CoreWeave (Nasdaq: CRWV), a neocloud that rents NVIDIA GPUs to AI labs and hyperscalers. Equity exposure, not a GPU rental price. | Trades from here |
| NBIS Nebius · perpetual | Perpetual | A perpetual on one share of Nebius Group (Nasdaq: NBIS), a neocloud building GPU clusters in Europe and the US. Equity exposure, not a GPU rental price. | Trades from here | |
| IREN IREN · perpetual | Perpetual | A perpetual on one share of IREN (Nasdaq: IREN), a bitcoin miner turned GPU cloud. Equity exposure, not a GPU rental price. | Trades from here | |
| NCLD Roundhill Neocloud ETF · perpetual | Perpetual | A perpetual on one share of the Roundhill Neocloud ETF (Nasdaq: NCLD), a basket of GPU-as-a-service and AI datacenter companies. The neocloud sector in one line. Equity exposure, not a GPU rental price. | Trades from here | |
| Hyperscalers | ORCL Oracle · perpetual | Perpetual | A perpetual on one share of Oracle (NYSE: ORCL), the fourth hyperscaler in GPUQuant's reference price and one of the largest GPU buyers. Equity exposure, not a GPU rental price. | Trades from here |
| MSFT Microsoft · perpetual | Perpetual | A perpetual on one share of Microsoft (Nasdaq: MSFT), whose Azure GPU list prices are one of the four legs of GPUQuant's reference price. Equity exposure, not a GPU rental price. | Trades from here | |
| GOOGL Alphabet · perpetual | Perpetual | A perpetual on one Class A share of Alphabet (Nasdaq: GOOGL), whose Google Cloud GPU list prices are one of the four legs of GPUQuant's reference price. Equity exposure, not a GPU rental price. | Trades from here | |
| AMZN Amazon · perpetual | Perpetual | A perpetual on one share of Amazon (Nasdaq: AMZN), whose AWS GPU list prices are one of the four legs of GPUQuant's reference price. Equity exposure, not a GPU rental price. | Trades from here | |
| Compute inputs | DRAM Roundhill Memory ETF · perpetual | Perpetual | A perpetual on one share of the Roundhill Memory ETF (Cboe: DRAM), a basket of memory makers. The memory cycle that prices every accelerator's HBM, in one line. Equity exposure, not a GPU rental price. | Trades from here |
| MU Micron · perpetual | Perpetual | A perpetual on one share of Micron (Nasdaq: MU), one of the three makers of the HBM stacked on every accelerator. Equity exposure, not a GPU rental price. | Trades from here | |
| SKHY SK hynix · perpetual | Perpetual | A perpetual on one SK hynix ADS (Nasdaq: SKHY), a tenth of one Korean common share, of the largest HBM supplier to NVIDIA. Equity exposure, not a GPU rental price. | Trades from here | |
| SNDK Sandisk · perpetual | Perpetual | A perpetual on one share of Sandisk (Nasdaq: SNDK), the NAND flash maker spun out of Western Digital, for the storage under every cluster. Equity exposure, not a GPU rental price. | Trades from here | |
| Accelerators | NVDA NVIDIA · perpetual | Perpetual | A perpetual on one share of NVIDIA (Nasdaq: NVDA), which designs the H100 and B200 this site prices. Equity exposure, not a GPU rental price. | Trades from here |
| AMD AMD · perpetual | Perpetual | A perpetual on one share of AMD (Nasdaq: AMD), whose Instinct accelerators are the main alternative to NVIDIA's. Equity exposure, not a GPU rental price. | Trades from here | |
| AVGO Broadcom · perpetual | Perpetual | A perpetual on one share of Broadcom (Nasdaq: AVGO), which designs the hyperscalers' custom accelerators and the networking between them. Equity exposure, not a GPU rental price. | Trades from here | |
| Foundry & equipment | TSM TSMC · perpetual | Perpetual | A perpetual on one TSMC ADS (NYSE: TSM), five Taiwan common shares, of the foundry that fabricates and packages every NVIDIA and AMD accelerator. Equity exposure, not a GPU rental price. | Trades from here |
| ASML ASML · perpetual | Perpetual | A perpetual on one share of ASML (Nasdaq: ASML), the only maker of the EUV lithography machines the leading-edge fabs run. Equity exposure, not a GPU rental price. | Trades from here |
An instrument is not a GPU price#
None of these rows is a GPU rental price and none tracks the indices on this site. A token is a claim on a protocol or a network; a share is a claim on a company; a perpetual on either is a leveraged view on that claim. They sit on the Tradable Compute page rather than under Market Data for exactly that reason, and each row's description says what it is a view on. A perpetual and a dated future also carry different risks, which is why the instrument type is stated on every row.
How a trade executes#
GPUQuant is the interface; the venue named on the instrument is where the trade happens. You connect an Ethereum wallet, or create one from an email address, and that address is your trading account at the venue. Your collateral stays there, in your account, and never passes through GPUQuant. There is no GPUQuant account, no sign-up and no password.
The first time you trade you sign two one-time approvals in your wallet: a ceiling on GPUQuant's execution fee, set at exactly 0.01%, and an agent key held in your browser that signs your orders. The agent can place and cancel orders and change leverage on your account and cannot withdraw or move funds; you can revoke it at any time at the venue, and clearing this browser's site data removes it. After that, every order is signed locally and sent to the venue, and the fill the venue reports is what the page shows. GPUQuant never presents an order as done because it was sent.
Funding#
Money reaches the trading balance in three ways, all from the Portfolio page: from the connected wallet, converting to the venue's collateral on the way through a third-party routing service; from an exchange or another wallet, by sending to the wallet's own address on a supported chain; or from another account at the venue. Withdrawals are made at the venue to any address, with the venue's own fee stated before you sign. GPUQuant cannot move, freeze or recover your funds.
Fees#
Hyperliquid charges its own trading fees, currently 0.045% on a taker fill and 0.015% on a maker fill at its base tier; the panel shows the rates that apply to your account where the venue reports them. GPUQuant adds 0.01% of the filled notional, charged by the venue on the fill. Nothing is charged on an order that does not fill, and both fees are shown in dollars before you confirm and on every trade in the history under the chart.
Funding through the routing service carries that route's own fees and network gas, quoted before you confirm. GPUQuant takes no part of them.
Risk#
A perpetual is a leveraged contract. At the venue's maximum leverage a move of a fraction of the price against you liquidates the position, and a fast market can lose more than the margin posted. The liquidation price shown before you confirm is an estimate from the venue's own formula; the venue's engine decides. Prices on the page come from the venue's public feed and can lag or drop, and a market order fills at the book's prices up to the slippage limit shown, not at the price you saw.
Nothing on this site is investment, legal or tax advice. The full terms are on Terms and risk.
The CME contracts#
The Silicon Data H100 Rental Index Futures and Silicon Data B200 Rental Index Futures rows are the announced CME Group futures, listed in the same format as a live instrument with nothing filled in: they list on October 5, 2026, pending regulatory review. They are not tradable here. When they trade, orders will go to a connected futures broker that keeps the account, margin, clearing and execution, and GPUQuant stays the intelligence layer. What the contracts are is on Compute futures.
The venue's own view of the market is at Hyperliquid.