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Perps · live from Hyperliquid

The leverage tide, read as depth.

$5.91B of leverage is open across Hyperliquid's perps, and longs and shorts are paying out near evenly (1 vs 1). The sharpest lean is LIT, funding +88% a year.

open data · api.hyperliquid.xyz · funding, open interest, and the live book

Order-book depth

dollars resting near mid

How much capital sits in the visible book on each side, and which way it leans. Bid depth draws from the left, ask depth from the right; the mark is the balance.

BTCbid $4.13M$5.34M ask$9.47M0.2 bps spread
HYPEbid $155.1K$96.2K ask$251.4K0.3 bps spread
ETHbid $15.95M$14.61M ask$30.56M0.6 bps spread
SOLbid $1.38M$277.2K ask$1.65M0.1 bps spread
ZECbid $195.3K$68.0K ask$263.3K1.4 bps spread
XRPbid $1.69M$1.78M ask$3.47M1.0 bps spread

Funding, live from Hyperliquid

live book

$5.91B of leverage is open across Hyperliquid's perps, and longs and shorts are paying out near evenly (1 vs 1). The sharpest lean is LIT, funding +88% a year.

BTC$1.98B-5.0%shorts pay
HYPE$1.29B+11.0%longs pay
ETH$1.06B-11.8%shorts pay
SOL$341.05M+11.0%longs pay
ZEC$182.54M+11.0%longs pay
XRP$80.26M-21.7%shorts pay
LIT$64.92M+88.3%longs pay
What funding tells you →open data · api.hyperliquid.xyz

Funding dispersion

annualized · where venues disagree

The same market, funded differently across venues. A wide spread is crowd-positioning tension: one venue’s traders leaning harder than another’s. Annualized so the hourly and 8-hour venues compare honestly.

marketHyperliquidBinanceBybitspread
FOGO+11.0%-850.4%+11.0%861.4%
IP+2.0%-32.6%-403.6%405.6%
STG+0.0%-170.4%-91.7%170.4%
CHIP-73.1%-201.3%-227.3%154.2%
USUAL-87.0%+11.0%-107.1%118.1%
ZORA-36.4%-34.4%-145.4%111.0%
ME-56.8%-60.8%-161.7%104.9%
SOPH-85.1%-5.3%+11.0%96.1%
MOVE+11.0%+11.0%+97.4%86.5%
LIT+89.5%+11.0%+11.0%78.5%