Can I trade SOXL on weekends?

Not on NYSE Arca. The SOXL market on Hyperliquid trades 24/7, so through Based you can open or close a position on a Saturday. On weekends there is no external price, so trading happens in an internal session with discovery bounds that limit how far the mark price can move.

How much leverage can I use on SOXL?

Up to 10x, on isolated margin only. SOXL itself already moves about three times as much as the chip index each day, so 10x on SOXL is roughly 30 times the index's daily move. A drop of under 3.4% in the index on the day could be enough to liquidate a fully leveraged long.

Do I own SOXL shares when I trade it on Based?

No. You trade a perpetual future on Hyperliquid that references 1 SOXL share, quoted in USD. It is a derivative: price exposure, long or short, with liquidation risk and funding fees, and no fund distributions.

Leveraged ETF

Trade SOXL 24/7, permissionless

SOXL is a fund built to move three times as much as the semiconductor index every day. NYSE Arca keeps it on a schedule. The SOXL market on Hyperliquid does not, and Based is the self-custody wallet that lets you trade it long or short around the clock.

Long or Short with up to 10x leverage

Direxion Semiconductor Bull 3X (SOXL)

$103.96+16.8%24h

NYSE Arca · United States · quoted in USD

Trade SOXL

What SOXL tracks

SOXL is the Direxion Daily Semiconductor Bull 3X Shares ETF. It seeks 300% of the daily performance of the ICE Semiconductor Index, an index of the 30 largest US-listed semiconductor companies, the names behind AI accelerators, memory and chip manufacturing. If the index rises 2% in a day, SOXL aims to rise about 6%. If it falls 2%, SOXL aims to fall about 6%.

The market on Based references 1 SOXL share, quoted in USD. It is deployed on Hyperliquid by TradeXYZ and runs in growth mode, so it is charged TradFi Perps rates, the lowest fee schedule on Based.

Why daily resets matter

SOXL resets its leverage every day, so over longer stretches it does not simply deliver three times the index. Choppy markets eat into it. Say the index rises 10% one day and falls 10% the next: it ends down 1%. A fund that triples each day's move gains 30%, then loses 30%, and ends down 9%. That drag is why leveraged ETFs are built for short holding periods, and why SOXL can fall even when chip stocks end roughly flat.

Leverage on leverage

The SOXL perp allows up to 10x, on isolated margin. Because SOXL already moves about three times the index, 10x on SOXL is roughly 30 times the index's daily move. At that size a drop of under 3.4% in the chip index on the day can be enough to wipe out a long position's margin, and liquidation comes before that. Leverage is optional, and the fund already supplies plenty of its own.

You are trading a derivative: price exposure, long or short, with liquidation risk and funding fees. You do not own SOXL shares and receive no fund distributions. Based is not a broker. Access needs no brokerage account and no bank account, just a self-custodial wallet funded with USDC. How leverage works and what liquidation means cover the basics.

Trading hours and weekend bounds

From Sunday 8:05pm to Friday 8pm New York time, the SOXL market follows external pricing. Over the weekend and on US market holidays it keeps trading in an internal session, where discovery bounds limit the mark price to within 10% of a reference price, with one re-anchor allowed in each direction. Check the current SOXL market configuration before you trade.

Prefer single names?

The chipmakers inside the index trade here too, without the daily reset: Nvidia, AMD, Broadcom and Micron. For memory as a basket, there is the Roundhill Memory ETF (DRAM), and the memory stocks hub covers the sector name by name.

Frequently asked questions

What is SOXL?: SOXL is the Direxion Daily Semiconductor Bull 3X Shares ETF, listed on NYSE Arca. It aims to deliver 300% of the daily performance of the ICE Semiconductor Index, which tracks the 30 largest US-listed semiconductor companies. The leverage resets every day.
Can I trade SOXL on weekends?: Not on NYSE Arca. The SOXL market on Hyperliquid trades 24/7, so through Based you can open or close a position on a Saturday. On weekends there is no external price, so trading happens in an internal session with discovery bounds that limit how far the mark price can move.
How much leverage can I use on SOXL?: Up to 10x, on isolated margin only. SOXL itself already moves about three times as much as the chip index each day, so 10x on SOXL is roughly 30 times the index's daily move. A drop of under 3.4% in the index on the day could be enough to liquidate a fully leveraged long.
Do I own SOXL shares when I trade it on Based?: No. You trade a perpetual future on Hyperliquid that references 1 SOXL share, quoted in USD. It is a derivative: price exposure, long or short, with liquidation risk and funding fees, and no fund distributions.

Start in three steps

Step 1
Log in
Log in with your email or Google account. Based supports social logins for convenience, provided by Privy, a Stripe company. Wallets are self-custodial: only you have access to your funds. Neither Based nor Privy can access your wallet or account.
Step 2
Fund it
Deposit USDC. You do not need a bank account to do it.
Step 3
Trade 24/7
Stock and crypto perps. Nights, weekends, holidays.

Open Based How self-custody works

Based is a self-custody wallet, not a broker. Markets are perpetual futures on Hyperliquid: derivatives with liquidation risk and funding fees, not the underlying stocks or coins. For information only, not financial advice.