How to Trade RTC Corporation (RTX) on Hyperliquid

What Is RTX Corporation

RTX Corporation is an American multinational aerospace and defense conglomerate formed in 2020 through the merger of Raytheon Company and the aerospace subsidiaries of United Technologies Corporation. The company rebranded from Raytheon Technologies to RTX in July 2023. With over 180,000 employees and $88.6 billion in 2025 revenue, it is the largest aerospace and defense company in the world by sales.

RTX operates through three divisions:

• Collins Aerospace ($30.2 billion in 2025 sales) builds avionics, flight controls, cabin interiors, and mission systems for both commercial and military aircraft. It posted a 16.2% operating margin in 2025.
• Pratt & Whitney ($32.9 billion, up 17% year-over-year) manufactures jet engines powering everything from the A320neo family to the F-35 fighter. It is the fastest-growing segment, driven by commercial engine deliveries and F135 military sustainment.
• Raytheon ($28.0 billion) is the missile and defense systems arm, responsible for Patriot air defense, Tomahawk cruise missiles, and advanced radar systems.

CEO Chris Calio has guided 2026 adjusted sales to $92–93 billion with free cash flow of $8.25–8.75 billion, backed by a record $268 billion backlog — $161 billion commercial and $107 billion defense.

Why RTX Matters Right Now

The investment case for RTX sits at the intersection of two structural tailwinds: a global defense spending supercycle and a commercial aviation recovery.

On the defense side, Raytheon secured five landmark agreements with the Department of Defense in February 2026 to expand production of critical munitions, with a target of producing over 1,000 Tomahawk missiles annually. In March 2026, the Air Force awarded RTX a $2 billion contract for nuclear command and control satellite terminals. Raytheon also landed a $1.7 billion contract to deliver four Patriot fire units to Spain — Spain's largest Patriot order ever — as European nations accelerate air defense procurement.

The numbers back the thesis. RTX reported adjusted EPS of $6.29 for 2025, up 10% year-over-year, with free cash flow jumping $3.4 billion to $7.9 billion. That cash flow supports both dividends and buybacks while funding capacity expansion, including a $200 million Pratt & Whitney manufacturing investment in Columbus, Georgia.

The headwinds are real but priced in. Pratt & Whitney's GTF engine recall — caused by contaminated powder metal in turbine components — has constrained Airbus A320neo delivery rates. And insider selling by the CEO and CFO totaling over $20 million has drawn attention, though it came alongside a rising stock price and improving fundamentals rather than any deterioration in the business.

The HIP-3 Perpetual Contract

The km:RTX perpetual on Hyperliquid tracks RTX Corporation's equity price through an oracle-referenced pricing mechanism. It is a builder-deployed HIP-3 market, meaning the deployer (km) defines the oracle source, tick size, and margin parameters.

Traders should understand what this means in practice. HIP-3 perps for individual equities tend to carry significantly less liquidity than Hyperliquid's native spot or major crypto perp markets. The km:RTX market has done roughly $8,100 in 24-hour volume — a fraction of the billions that RTX trades daily on the NYSE. This thin order book means that even modest directional flow can produce outsized price moves on the perp that bear no relation to the underlying stock.

This is a feature, not a bug, for certain trading strategies. The perp gives crypto-native traders exposure to a $200+ aerospace stock without leaving the Hyperliquid ecosystem, and the potential for perp-spot dislocations creates opportunities for traders who understand both the equity and the on-chain market mechanics. But it also means you need to size positions carefully and pay attention to the spread between the perp price and the NYSE close.

Key Trading Considerations

Liquidity risk is the dominant factor. With daily volume under $10,000, the km:RTX perp can gap significantly from spot. In March 2026, the perp traded 25% below the NYSE price with no fundamental catalyst — purely a function of thin liquidity and directional flow. If you are trading this market, assume that large orders will move the price.

The fundamental story is strong but consensus. A $268 billion backlog, double-digit earnings growth, and a defense spending supercycle are well-known. The stock trades around $201, near all-time highs. Any positioning here is less about discovering an unknown catalyst and more about timing and directional conviction on macro defense trends.

Government contract dependency cuts both ways. Roughly 40% of RTX's revenue comes from U.S. government contracts. Budget debates, continuing resolutions, or shifts in defense priorities (like the DOGE spending cut discussions) can create volatility that equity analysts tend to model out but perp traders may react to faster.

Watch the funding rate. On thin HIP-3 markets, funding can diverge significantly from the underlying's implied carry. If the perp trades at a persistent discount or premium to NYSE spot, hourly funding payments become a material cost of holding a position. Factor this into any position you plan to hold beyond a few hours.

Trading on Hyperliquid

Trade RTX on Hyperliquid with up to 10x leverage.