THE MARKET PULSE
HYPERLIQUID PERPS

HYPE / USD

PERPETUAL · HYPERLIQUID
— Reading market…
24H VOLUME —
OPEN INTEREST / BASE —
HOURLY FUNDING —

The visible book

Waiting for the first reading.

BIDS / BUYING INTEREST ASKS / SELLING INTEREST USD DEPTH
BID–ASK SPREAD — basis points
BID DEPTH / 50 BPS — visible only
ASK DEPTH / 50 BPS — visible only
VISIBLE BOOK BALANCE Reading…
Bids — Asks —

Share of returned USD depth. Resting orders can change; this is not a directional signal.

TOP BIDS
Price / USD Size Cumulative
Waiting for data
TOP ASKS
Price / USD Size Cumulative
Waiting for data

Up to 20 levels per side. The table shows the nearest eight; the calculation uses every returned level. The visible book may not cover the entire 50 bps range.

01 / BENEATH THE SPREAD Understand depth

The shape behind the number.

Reading visible liquidity concentration.

LARGEST RETURNED BID — Awaiting book
LARGEST RETURNED ASK — Awaiting book
THE READING ROOM MAKE EACH NUMBER USEFUL
01

From size to average fill.

Follow a worked example, one price level at a time.

4 MIN
02

Funding has its own clock.

Separate the cost of holding from the cost of entering.

3 MIN
03

Know where the snapshot stops.

Read partial fills, stale data and the visible price range.

3 MIN

Contacting Hyperliquid…