HYPERLIQUID · PERPETUAL FUTURES

LINK

LINK-USD perpetual · 24/7 trading on Hyperliquid

▸ Advanced metrics · M2M bundle

hyperliquid · perp-link · fresh · feed 3s old
24h sparkline · 60 pts▼ -1.60%
realized vol (ann.)
24.30%
max drawdown
0.96%
sharpe
-79.01
ulcer index
0.47%
RMS drawdown
pain index
0.38%
mean drawdown
mod. VaR 95%
0.02%
Cornish-Fisher
martin ratio
-4095.84
ret / ulcer
CDaR 95%
0.90%
cond. drawdown
gain/pain
0.88
Σgain / Σ|loss|
sterling
-2136.24
ret / CDaR
omega (θ=0)
0.88
upside/downside
roll spread
0.0 bps
implied (price-only)
bars used
2000
store
spread
—
24h Δ
-1.60%
flow lean
—
carry
shorts_pay
-1.57%
signalNEUTRALconfidence 32%
  • 24h change -1.60%
  • funding: shorts pay — perp longs get paid to wait
  • mark cheap vs HL oracle by 6.9bps — long bias
Same bundle via M2M API: /api/m2m/hl-link/bundle · venue execution: hyperliquid →
LIVEPOLL0SRCFRESH2.7s⏱--:--:-- UTC8NEXT8.0sUP0s--:--HIST0/30
▶ STREAMING·HYPERLIQUID·POLYMARKET·0 POLLS·SRC FRESH·UPTIME 0s·NEXT POLL 8.0s·CC0 OPEN DATA·HYPO.MARKETS·▶ STREAMING·HYPERLIQUID·POLYMARKET·0 POLLS·SRC FRESH·UPTIME 0s·NEXT POLL 8.0s·CC0 OPEN DATA·HYPO.MARKETS·
MARK · live
$7.872
24h Δ · live
-1.60%
24h vol · live
$1.7M
LINK · live 24h price
n=25 · μ=7.9544 · σ=0.0425 · range [7.8704, 8.0235] · R²=0.833▼ FALLING -1.54%σ LOW 0.53%LAST 7.87048.02357.98527.94707.90877.8704μ = 7.9544max 8.0235min 7.8704dataMA(5)OLS R²=0.83μ lineμ ± σ bandmaxminlive endpoint
25 closes · last $7.87
Funding direction · live
Long fee 39.1%Short fee 60.9%SHORT FEE60.9%
Σ = 0.0%
Σ-sides total = 0.00% (100.00pp arb gap)
H(p) entropy = 0.965 / 1.00 bits (97%) · max uncertainty (~50/50)
Long fee
39.1%▬ +0.00pp
Short fee
60.9%▬ +0.00pp
1h funding -0.000179% · shorts pay
Hourly contract volume · live
n=25 · Σ=231,729 · μ=9269.2 · σ=9053.1 · CV=0.98BURSTYcumulative energy ↗ · 50% by h=9010,33920,67731,01641,354μ = 926941,35450%h1h5h9h13h17h21h25#1 peak#2-3> μactivequietμ linecum energy
peak 41354 contracts
Live numerics · pulse on poll
LIVE NUMERICS9 metrics·POLL 0
⏱snapshot age
2.7s
$mark $
$7.8721
$mid $
$7.8721
◉prev-day close
$7.9998
Δ24h Δ %
-1.596%
$24h vol $
$1.70M
◐open interest $
$31.11M
%funding (1h)
-0.000179%
%funding (yr)
-1.57%/yr

§1 · 24h time-series

Close price · hourly
n=25 · μ=7.9544 · σ=0.0425 · range [7.8704, 8.0235] · R²=0.833▼ FALLING -1.54%σ LOW 0.53%LAST 7.87048.02357.98527.94707.90877.8704μ = 7.9544max 8.0235min 7.8704dataMA(5)OLS R²=0.83μ lineμ ± σ bandmaxmin
mark $7.8721 · 24h -1.60% · range $[7.8704, 8.0235]
OHLC candles · hourly
n=25 · up 11 · down 14 (44% up) · range [7.8668, 8.0464] · σ=0.0425 · CV=0.01 · bodyµ=42%BEARISH -1.75%CLOSE 7.8704 vs OPEN 8.0109 (-1.75%)&#9660; CLOSE 7.87048.04648.00157.95667.91177.8668μ close = 7.9544O8.011 H8.011 L7.977 C7.994 (-0.21%)O8.011 H8.011 L7.977 C7.994 (-0.21%)O7.993 H8.013 L7.993 C8.006 (+0.17%)O7.993 H8.013 L7.993 C8.006 (+0.17%)O8.009 H8.042 L7.998 C8.024 (+0.18%)O8.009 H8.042 L7.998 C8.024 (+0.18%)O8.025 H8.026 L7.945 C7.988 (-0.46%)O8.025 H8.026 L7.945 C7.988 (-0.46%)O7.990 H8.019 L7.976 C7.989 (-0.01%)O7.990 H8.019 L7.976 C7.989 (-0.01%)O7.988 H8.013 L7.965 C7.977 (-0.14%)O7.988 H8.013 L7.965 C7.977 (-0.14%)O7.977 H8.006 L7.963 C7.989 (+0.15%)O7.977 H8.006 L7.963 C7.989 (+0.15%)O7.988 H7.988 L7.964 C7.980 (-0.11%)O7.988 H7.988 L7.964 C7.980 (-0.11%)O7.979 H8.046 L7.952 C8.014 (+0.44%)O7.979 H8.046 L7.952 C8.014 (+0.44%)O8.020 H8.020 L7.981 C7.981 (-0.50%)O8.020 H8.020 L7.981 C7.981 (-0.50%)O7.979 H7.987 L7.963 C7.980 (+0.02%)O7.979 H7.987 L7.963 C7.980 (+0.02%)O7.981 H7.982 L7.956 C7.960 (-0.27%)O7.981 H7.982 L7.956 C7.960 (-0.27%)O7.963 H8.002 L7.954 C7.973 (+0.12%)O7.963 H8.002 L7.954 C7.973 (+0.12%)O7.969 H8.000 L7.950 C7.958 (-0.13%)O7.969 H8.000 L7.950 C7.958 (-0.13%)O7.958 H7.970 L7.948 C7.960 (+0.04%)O7.958 H7.970 L7.948 C7.960 (+0.04%)-0.6%O7.960 H7.960 L7.905 C7.915 (-0.56%)O7.960 H7.960 L7.905 C7.915 (-0.56%)O7.918 H7.927 L7.891 C7.920 (+0.03%)O7.918 H7.927 L7.891 C7.920 (+0.03%)O7.922 H7.948 L7.911 C7.913 (-0.12%)O7.922 H7.948 L7.911 C7.913 (-0.12%)O7.918 H7.920 L7.882 C7.902 (-0.20%)O7.918 H7.920 L7.882 C7.902 (-0.20%)O7.902 H7.922 L7.895 C7.910 (+0.10%)O7.902 H7.922 L7.895 C7.910 (+0.10%)O7.910 H7.942 L7.881 C7.941 (+0.39%)O7.910 H7.942 L7.881 C7.941 (+0.39%)O7.942 H7.947 L7.914 C7.914 (-0.35%)O7.942 H7.947 L7.914 C7.914 (-0.35%)O7.914 H7.940 L7.907 C7.923 (+0.11%)O7.914 H7.940 L7.907 C7.923 (+0.11%)O7.923 H7.927 L7.875 C7.881 (-0.52%)O7.923 H7.927 L7.875 C7.881 (-0.52%)O7.883 H7.889 L7.867 C7.870 (-0.16%)O7.883 H7.889 L7.867 C7.870 (-0.16%)#1#5#9#13#17#21#25up bar (C≥O)down bar (C<O)MA(5) closeμ closedoji (~no body)biggest body
25 bars
Hourly volume (base units)
n=25 · Σ=231,729 · μ=9269.2 · σ=9053.1 · CV=0.98BURSTYcumulative energy &nearr; · 50% by h=9010,33920,67731,01641,354μ = 926921,491.1 · 52.0% peak21,491.1 · 52.0% peak5,184.4 · 12.5% peak5,184.4 · 12.5% peak21,968.8 · 53.1% peak21,968.8 · 53.1% peak41,35441,354 · 100.0% peak41,354 · 100.0% peak6,425.5 · 15.5% peak6,425.5 · 15.5% peak5,090.1 · 12.3% peak5,090.1 · 12.3% peak5,139.8 · 12.4% peak5,139.8 · 12.4% peak7,091.5 · 17.1% peak7,091.5 · 17.1% peak9,475.8 · 22.9% peak9,475.8 · 22.9% peak4,164.5 · 10.1% peak4,164.5 · 10.1% peak1,114 · 2.7% peak1,114 · 2.7% peak11,899.1 · 28.8% peak11,899.1 · 28.8% peak2,277.9 · 5.5% peak2,277.9 · 5.5% peak4,661.5 · 11.3% peak4,661.5 · 11.3% peak2,657.7 · 6.4% peak2,657.7 · 6.4% peak9,284 · 22.5% peak9,284 · 22.5% peak6,554.9 · 15.9% peak6,554.9 · 15.9% peak7,431.1 · 18.0% peak7,431.1 · 18.0% peak6,504.4 · 15.7% peak6,504.4 · 15.7% peak20,974.8 · 50.7% peak20,974.8 · 50.7% peak5,053.1 · 12.2% peak5,053.1 · 12.2% peak2,611.1 · 6.3% peak2,611.1 · 6.3% peak3,553 · 8.6% peak3,553 · 8.6% peak16,904 · 40.9% peak16,904 · 40.9% peak2,863.1 · 6.9% peak2,863.1 · 6.9% peak50%#1#5#9#13#17#21#25#1 peak#2-3> μactivequietμ linecum energy
Σ vol 231729 · peak 41354 · CV 0.98

§2 · Returns distribution (log-returns)

Histogram of rₜ = ln(pₜ/pₜ₋₁)
n=24 · 12 bins · μ=-0.0007 · σ=0.0026 · skew=-0.20 (symmetric) · kurt=-0.82 (mesokurtic)54310 2-52.67bpbin -52.67bp · n=2 · 40.0% peakbin -52.67bp · n=2 · 40.0% peak 2-44.37bpbin -44.37bp · n=2 · 40.0% peakbin -44.37bp · n=2 · 40.0% peak 1-36.07bpbin -36.07bp · n=1 · 20.0% peakbin -36.07bp · n=1 · 20.0% peak 1-27.77bpbin -27.77bp · n=1 · 20.0% peakbin -27.77bp · n=1 · 20.0% peak 2-19.47bpbin -19.47bp · n=2 · 40.0% peakbin -19.47bp · n=2 · 40.0% peak 4-11.17bpbin -11.17bp · n=4 · 80.0% peakbin -11.17bp · n=4 · 80.0% peak 1-2.88bpbin -2.88bp · n=1 · 20.0% peakbin -2.88bp · n=1 · 20.0% peak 35.42bpbin 5.42bp · n=3 · 60.0% peakbin 5.42bp · n=3 · 60.0% peak 513.72bpbin 13.72bp · n=5 · 100.0% peakbin 13.72bp · n=5 · 100.0% peak 122.02bpbin 22.02bp · n=1 · 20.0% peakbin 22.02bp · n=1 · 20.0% peak30.32bp 238.62bpbin 38.62bp · n=2 · 40.0% peakbin 38.62bp · n=2 · 40.0% peakμΔ < 0 · loss barsΔ ≈ 0 · flatΔ > 0 · gain barsN(μ,σ²) referenceμ line · ±σ band shaded
n=24 · positive 11 · negative 13
Q-Q plot · standardised rₜ vs N(0,1)
n=24 · skew=-0.17 · kurt=-0.62 · near 24 / mid 0 / far 0 · OLS slope=1.02 intercept=-0.00MATCHES NORMAL · WELL-BEHAVEDUPPER TAIL NORMALLOWER TAIL NORMAL-3σ-3σ-2σ-2σ-1σ-1σ+0σ+0σ+1σ+1σ+2σ+2σ+3σ+3σsample ↓marginal: sample bars + theoretical N(0,1) curve →theoretical Φ⁻¹(p) →↑ sample z-quantile|Δ| < 0.3σ · on the line|Δ| < 1σ · moderate|Δ| ≥ 1σ · outliery = x refOLS fit

§3 · Spot quote

Mark price
$7.8721
Mid price
$7.8721
24h change
-1.60%
Mark–mid spread
0.00 bps
Prev-day close
$7.9998

§4 · Sample moments (prices)

Descriptive statistics · 5-number summary · shape diagnostics
SAMPLE MOMENTS · N=25PLATYKURTIC · THIN TAILS (G₂=-1.15)
μ MEAN7.9544$95% CI: [7.9378$, 7.9711$]
σ STD DEV0.0425$σ² = 18.068×10⁻⁴ · CV = 0.53%
med MEDIAN7.9605$Q₁ 7.9154$ · Q₃ 7.9880$
FIVE-NUMBER SUMMARY · BOX PLOTrange 0.1531$ · IQR 0.0726$ (1.349σ→0.0573$)
min 7.8704$Q₁ 7.9154$med 7.9605$Q₃ 7.9880$max 8.0235$μ
SKEWNESS · G₁-0.294approximately symmetric
−3−10+1+3
EXCESS KURTOSIS · G₂-1.148platykurtic · thin tails
−30+2+4+6
μ ↔ medianμ < med · left-tailed|μ−med| / σ = 0.14
σ × 1.349 ↔ IQRdiverges from normalratio = 0.79
range ↔ σconcentrated (range < 4σ)range / σ = 3.60
μ = mean · σ = standard deviation · CV = coefficient of variation. Skew (G₁): >0 right-skewed. Kurt (G₂, excess): >0 leptokurtic. 95% CI = μ ± 1.96·SE.

§5 · Returns analytics (log-returns)

Risk-adjusted performance · log-returns
RETURNS · RISK-ADJUSTEDUNPROFITABLE · SR=-22.67
μᵣ MEAN / h-0.064770%drift is negative per h · |μ|/σ = 0.242
σᵣ STD / h0.267412%σ²ᵣ = 0.072×10⁻⁴ · CV = 4.13×
σ ANNUALISED25.03%/yrscaled by √8760 (hourly→yearly) · 0.267%/h base
RISK-ADJUSTED PERFORMANCEhigher = better edge per unit risk
SHARPE (annualised)-22.67negative edge
-2-10+1+2+3+4
SORTINO (annualised)-19.44downside drag
-2-10+1+2+3+4
CALMAR (return / max-DD)-100.00drawdown overwhelms returns
-20+2+4+6
RETURN-DISTRIBUTION SHAPE|skew| < 0.5 ≈ symmetric · |kurt| < 1 ≈ mesokurtic
SKEWNESS · G₁-0.18approximately symmetric
-3-10+1+3
EXCESS KURTOSIS · G₂-0.47mesokurtic · normal-like tails
-30+2+4+6
SORTINO vs SHARPEdownside vol < total vol · favourableSoR / SR = 0.86
CALMAR · DD CONTROLdrawdown > returns · adverseCR = -100.00
EXPECTED EDGE-567.39%/yr driftμ × 8760 = annualised expectation
rₜ = ln(pₜ/pₜ₋₁). σ × √8760 = annualised. Sharpe = μ/σ scaled; Sortino uses downside-only vol; Calmar = annual return / max drawdown.

§6 · Risk metrics

Tail risk + drawdown · downside diagnostics
TAIL & DRAWDOWN RISKELEVATED · 95% VaR 0.51%
VaR₉₅ (h)0.513%5% prob of larger adverse h move
VaR₉₉ (h)0.558%1% prob · extreme-tail threshold
ES₉₅ (CVaR)0.547%expected loss given 5% tail event
MAX DRAWDOWN1.91%22h from peak to trough
TAIL-RISK LADDER (h losses)larger negative = worse · markers show severity
0 · no lossVaR₉₅−0.513%VaR₉₉−0.558%ES₉₅−0.547%worst tail ←→ zero loss
MAX DRAWDOWN PROFILEmoderate drawdown · 22h duration
PEAK802.35$
−1.91% drawdown over 22h
787.04$TROUGH
ES / VaR · TAIL THICKNESSthin tails · ES ≈ VaR|ES₉₅| / |VaR₉₅| = 1.07× (normal ≈ 1.25)
VaR₉₉ / VaR₉₅ · CONCENTRATIONuniform tailratio = 1.09× (normal ≈ 1.41)
DRAWDOWN · CAPITAL DURATIONmoderate drawdownrecovery needed: +1.95% (compounding)
VaR = quantile loss · ES (CVaR) = expected loss conditional on tail · DD = peak-to-trough decline. Under normality ES₉₅/VaR₉₅ ≈ 1.25; ratio > 1.5 ⇒ fat-tail regime.

§7 · Technicals

RSI(14)
33.4 · neutral
Bollinger %B
0.039 · within band
Bollinger upper
$8.0217
Bollinger MA
$7.9430
Bollinger lower
$7.8643

§8 · Time-series structure

Regime & autocorrelation diagnostics
TIME-SERIES STRUCTUREREGIME: MEAN-REVERTING · ρ(1) -0.42 + ADF rejected
ρ(1) AUTOCORR-0.420negative · reversal
ρ(2) AUTOCORR+0.281lag-2 not significant
H · HURST EXPONENT0.810strongly persistent
OLS TREND · t-STAT-10.695significant @ α=0.05
HURST EXPONENT [0, 1]strongly persistent · H = 0.810
H = 0.810STRONGLY PERSISTENT
0
anti-persistent0.45
mean-reverting0.5
random walk0.55
persistent1
strongly trending
AUTOCORRELATION FUNCTION · ρ(k) for k=1..51 SIGNIFICANT LAG · k=1
k=1 ★-0.420k=2+0.281k=3-0.392k=4+0.176k=5-0.3720+1−1+0.41−0.41+ momentum (ρ > +0.41)− reversal (ρ < −0.41)noise (within band)±2/√n threshold
OLS TREND · t-STAT · [-5, +5]SIGNIFICANT @ 1% (|t|=10.69)
−5 reject−1.960 retain H₀+1.96+5 reject
REGIME CLASSIFICATIONMEAN-REVERTING · ρ(1) -0.42 + ADF rejectedfrom Hurst + ρ(1) joint diagnosis
PREDICTABILITY · score 1.00very high · strong structure|ρ(1)| + 2·|H − 0.5| heuristic
TREND SIGNIFICANCESIGNIFICANT @ 1% (|t|=10.69)α=0.05 critical |t|=1.96 · α=0.01 |t|=2.58
ρ(k) = lag-k sample autocorrelation · H = R/S Hurst exponent · t = OLS-trend t-statistic. Significance bands at ±2/√n approximate the 95% white-noise envelope. α=0.05 critical |t|=1.96; α=0.01 |t|=2.58.

§9 · Microstructure

24h volume (USD)
$1.70M
Open interest (USD)
$31.11M
Vol / OI (turnover)
0.05x
1h funding
-0.000179%
Funding (annualised)
-1.57%/yr

§10 · Position sizing

Continuous Kelly (μ/σ²)
-10.000× leverage · optimal log-utility leverage
Half-Kelly
-5.000× · industry-standard conservative
Quarter-Kelly
-2.500×

§11 · Hourly return heatmap

24-hour signed Δln-r grid · green = up · red = down
HOURLY RETURN HEATMAP · n=24 bars · best 0.43% · worst -0.57% · typical |Δ| 0.22%MILD BEARISH -1.55%BEST+0.43%21hWORST-0.57%04hTYPICAL |Δ|0.22%mean absoluteCUMULATIVE-1.55%Σ signed ΔSTREAK↘ 2down-runASIA · 00-08 UTCμ -0.12% · Σ -0.98%EUROPE · 08-16 UTCμ -0.00% · Σ -0.03%US · 16-24 UTCμ -0.07% · Σ -0.55%CUMULATIVE Δ PATH · final -1.55%+0.37%-1.55%0.15% · 14h0.15% · 14h0.15%14h0.22% · 15h0.22% · 15h0.22%15h-0.44% · 16h-0.44% · 16h-0.44%16h0.02% · 17h0.02% · 17h0.02%17h-0.16% · 18h-0.16% · 18h-0.16%18h0.15% · 19h0.15% · 19h0.15%19h-0.11% · 20h-0.11% · 20h-0.11%20h0.43% · 21h0.43% · 21h0.43%21h★ BEST-0.42% · 22h-0.42% · 22h-0.42%22h-0.01% · 23h-0.01% · 23h-0.01%23h-0.25% · 00h-0.25% · 00h-0.25%00h0.16% · 01h0.16% · 01h0.16%01h-0.19% · 02h-0.19% · 02h-0.19%02h0.03% · 03h0.03% · 03h0.03%03h-0.57% · 04h-0.57% · 04h-0.57%04h▼ WORST0.06% · 05h0.06% · 05h0.06%05h-0.09% · 06h-0.09% · 06h-0.09%06h-0.14% · 07h-0.14% · 07h-0.14%07h0.10% · 08h0.10% · 08h0.10%08h0.39% · 09h0.39% · 09h0.39%09h-0.34% · 10h-0.34% · 10h-0.34%10h0.11% · 11h0.11% · 11h0.11%11h-0.53% · 12h-0.53% · 12h-0.53%12h-0.14% · 13h-0.14% · 13h-0.14%13hTIME PATTERNEurope-led (+-0.03%)RUNSup max 2 · down max 3BREADTH46% up · 54% down
11 up bars · 13 down · best 0.43% · worst -0.57% · typical |Δ| 0.217%

§12 · Equity curve & underwater drawdown

Cumulative compounded return + running peak-to-trough
EQUITY & DRAWDOWN ANALYSIS · n=25 barsLOSS · SHALLOW DD (-1.55%)FINAL-1.55%MAX DD-1.92%RECOVERYONGOING · 22 barsMAX RUN-UP+0.37%UNDERWATER22/25 (88%)STREAK↘ 2EQUITY CURVE · end 0.9845 · peak 1.0037 · range [0.9845, 1.0037]1.00370.9845break-even = 1★ PEAK 1.0037UNDERWATER DRAWDOWN · max -1.92% · moderate0%-1.92%▼ TROUGH -1.92%TOP DRAWDOWN PERIODS · 1 total#1 -1.92%bar 4-25 · 22 bars · ONGOINGDD SEVERITYmoderate (max -1.92%)RECOVERYongoing · 22 barsTIME UNDER WATER88% of session · 22/25 bars
final equity 0.9845 (-1.55%) · max DD -1.92% · time-under-water 22/25 bars

§13 · Rolling-window statistics (w = 6 bars)

Rolling annualised Sharpe ratio · green positive · red negative
n=19 · +1 / −18 (5% positive) · μ=-21.32 · σ=19.09UNPROFITABLE STRATEGYLAST -18.67 (+0.14σ vs μ)61.6630.830.00-30.83-61.66μ = -21.32-3.80-3.80-21.35-21.35-6.30-6.30-5.06-5.06-6.56-6.56-10.79-10.79-10.35-10.35-13.96-13.96-49.33-49.33-49.40-49.40-43.91-43.91-35.91-35.91-61.66-61.66-38.13-38.13-12.23-12.23-1.04-1.042.052.05-18.65-18.65-18.67-18.67v > 0 · positivev < 0 · negativeμ mean lineμ ± σ bandlatest bar (outlined)
latest -18.670 · range [-61.66, 2.05] · μ -21.319 · positive Sharpe = excess-return-per-risk earned by buying-and-holding through this window
Rolling annualised volatility (%)
n=19 · μ=25.7269 · σ=3.3006 · range [19.7860, 31.1377] · R²=0.025▲ RISING +32.10%σ HIGH 12.83%LAST 31.137731.137728.299825.461822.623919.7860μ = 25.7269max 31.1377min 19.7860dataMA(3)OLS R²=0.02μ lineμ ± σ bandmaxmin
latest 31.14% · range [19.79%, 31.14%] · μ 25.73% · σ̂ scaled to annualised (×√8760)
Rolling lag-1 autocorrelation ρ(1)
n=19 · +0 / −19 (0% positive) · μ=-0.454 · σ=0.172MEAN-REVERSIONLAST -0.253 (+1.17σ vs μ)0.6400.3200.000-0.320-0.640μ = -0.454-0.325-0.325-0.613-0.613-0.238-0.238-0.640-0.640-0.635-0.635-0.545-0.545-0.600-0.600-0.574-0.574-0.512-0.512-0.431-0.431-0.603-0.603-0.505-0.505-0.618-0.618-0.471-0.471-0.010-0.010-0.315-0.315-0.408-0.408-0.333-0.333-0.253-0.253v > 0 · positivev < 0 · negativeμ mean lineμ ± σ bandlatest bar (outlined)
latest -0.253 · |ρ| > 0.3 ⇒ regime with persistence (ρ > 0) or reversal (ρ < 0) · |ρ| ≤ 0.1 = consistent with random walk

§14 · Hypothesis tests (α = 0.05)

Formal inference at 5% significance
3 of 6 REJECT · mixed evidence3 reject·3 pass·α = 0.05
𝒩

Jarque-Bera

FAIL TO REJECTns

H₀: Δln-r ~ Normal(μ, σ²)

STATISTIC
0.3532
p-VALUE (log scale)
0.8381
α
10⁻⁴10⁻³10⁻²10⁻¹1
p ≥ α · null retainednormality not rejected
ρ

Ljung-Box(h=5)

REJECT H₀**

H₀: No serial autocorrelation up to lag 5

STATISTIC
17.0973
p-VALUE (log scale)
0.0045
α
10⁻⁴10⁻³10⁻²10⁻¹1
p < α · rejection zoneserial dependence detected
Ψ

Dickey-Fuller (τ_μ)

FAIL TO REJECTns

H₀: p has a unit root (non-stationary)

STATISTIC
-0.5695
p-VALUE (log scale)
0.8699
α
10⁻⁴10⁻³10⁻²10⁻¹1
p ≥ α · null retainedrandom-walk behaviour (crit ≈ -2.86)
±

Wald-Wolfowitz runs

REJECT H₀*

H₀: Sign sequence of Δ is random

STATISTIC
2.1374
p-VALUE (log scale)
0.0326
α
10⁻⁴10⁻³10⁻²10⁻¹1
p < α · rejection zonenon-random sign pattern (18 runs)
χ

KPSS (μ stationarity)

REJECT H₀**

H₀: p IS level-stationary

STATISTIC
0.8713
p-VALUE (log scale)
0.0048
α
10⁻⁴10⁻³10⁻²10⁻¹1
p < α · rejection zonenon-stationary (crit 0.463)
χ

Variance ratio q=3

FAIL TO REJECTns

H₀: Δln-r is a random walk · VR = 1

STATISTIC
-1.4583
p-VALUE (log scale)
0.1448
α
10⁻⁴10⁻³10⁻²10⁻¹1
p ≥ α · null retainedVR 0.556 ≈ 1 (RW behaviour)
Each row states an explicit null H₀, the test statistic, an approximated p-value, and the decision. REJECT means evidence against H₀. KPSS complements ADF (rejecting both ⇒ ambiguous; rejecting one ⇒ clean verdict).

§15 · Spectral analysis (DFT periodogram)

Power spectrum of Δln-r · ‖X̂(k)‖²/n
n=12 bins · noise floor μ=9.80e-6 · top T=2.00h (60.2%) · top-3 cover 82.6%STRONG CYCLE @ T≈2.0cumulative energy ↗ (1 bin above 2× noise)7.1e-55.3e-53.5e-51.8e-50.0e+0μ noise floor2× noise (significance)period 24.0 · power 3.61e-7 · 0.3% energyperiod 24.0 · power 3.61e-7 · 0.3% energyperiod 12.0 · power 3.36e-6 · 2.9% energyperiod 12.0 · power 3.36e-6 · 2.9% energyperiod 8.0 · power 1.59e-6 · 1.4% energyperiod 8.0 · power 1.59e-6 · 1.4% energyperiod 6.0 · power 1.27e-5 · 10.8% energyperiod 6.0 · power 1.27e-5 · 10.8% energyperiod 4.8 · power 4.22e-6 · 3.6% energyperiod 4.8 · power 4.22e-6 · 3.6% energyperiod 4.0 · power 3.60e-6 · 3.1% energyperiod 4.0 · power 3.60e-6 · 3.1% energyperiod 3.4 · power 1.71e-6 · 1.5% energyperiod 3.4 · power 1.71e-6 · 1.5% energyperiod 3.0 · power 1.37e-5 · 11.6% energyperiod 3.0 · power 1.37e-5 · 11.6% energyperiod 2.7 · power 3.31e-6 · 2.8% energyperiod 2.7 · power 3.31e-6 · 2.8% energyperiod 2.4 · power 1.19e-6 · 1.0% energyperiod 2.4 · power 1.19e-6 · 1.0% energyperiod 2.2 · power 1.13e-6 · 1.0% energyperiod 2.2 · power 1.13e-6 · 1.0% energyperiod 2.0 · power 7.08e-5 · 60.2% energyperiod 2.0 · power 7.08e-5 · 60.2% energy50% by T=2.0h#1 dominantT=2.00h#2T=3.00h#3T=6.00hT=2hT=3hT=4hT=6hT=8hT=12hT=16hT=24h← shorter cycle (high freq · Nyquist=½) · period T (bars per cycle) · longer cycle (low freq · 1/n) →#1 dominant#2 peak#3 peak> 2× noisenoiseμ floor2μ sig.cum energy
dominant period ≈ 2.00h (freq 0.500) · concentrates 60.2% of total energy · Σ|X̂|²/n = 1.176e-4

▸ Depth section using sovereign-store price series (5000 bars · effective 5257847 bars/year) — annualisation reflects native polling cadence, not upstream timeframes.

§16 · NOSTRADAMUS continuous quant — perp leverage & bootstrap MC

Continuous-price extension of the prediction-market quant module. Kelly growth on observed returns (Merton μ/σ² parametric vs argmax empirical), Monte-Carlo equity fan bootstrapped from the historical return distribution at quarter-Kelly leverage, and an annualized return decomposition. Sweep parameters in the simulator.

§17 · Continuous Kelly

Continuous-Kelly growth · g(f) = E[ln(1 + f·r)]
NO LONG EDGE · μ -0.000% per barparametric μ/σ² short edge (μ<0) · μ -0.000% · σ 0.01%
μ per barmean
-0.000%
σ per barvol
0.01%
Empirical f★argmax g(f)
0.00×
from observed distribution
Parametric f★μ/σ²
-96.22×
Merton continuous-time
Half-Kelly½ f★
0.00×
~⅔ of full growth, half the variance
Quarter-Kelly¼ f★
0.00×
industry default — survives model error
-0.00%0.02%0.05%0.07%0.10%0.0×1.6×3.2×4.8×6.4×8.0×leverage fraction fexpected log-growth per bar
g(f) empiricalf★ argmaxparametric f★
Maximum expected log-growth from leveraging the historical return distribution. Empirical f★ argmaxes the sample expectation; parametric f★ = μ/σ² is Merton's continuous-time optimum.

§18 · MC equity fan

Bootstrapped equity fan at 0.10× leverage
Median CAGR/bar -0.000% · annualized Sharpe -28.86400 paths × 720 bars · leverage 0.10× · bootstrap from 4999 observed returns
Sharpe / barμ/σ
-0.013
annualized -28.86
μ per barafter L
-0.000%
σ per barafter L
0.00%
VaR 95%5%
0.00%
per-bar worst-case
CVaR 95%ES
0.00%
mean tail loss
Max DD (median)MDD
-0.0%
0.95×0.97×0.99×1.01×1.03×1.05×0120240360480600720startbar #equity multiple
median25/75 band5/95 band
Median path with 25/75 and 5/95 percentile bands across 400 simulated careers. Bars resample with replacement from the observed return distribution — preserves fat tails the parametric model misses.

§19 · Annualized breakdown

Annualized return components
APR -577% · APY -100% · Sharpe -23.56σ ann 24% · Sortino -17.92 · n 4999
-2827%-2256%-1685%-1113%-542%29%-577.0%APR (simple)-99.7%APY (compound)24.5%Ann. vol σ-2356.2%Sharpe (ann)-1791.8%Sortino (ann)
Simple APR vs compounded APY · annualized volatility · risk-adjusted Sharpe and Sortino. All scaled by √(periods/yr).

§20 · GARCH(1,1) volatility band

GARCH(1,1) · conditional vol envelope (±2σ)
GARCH persistence α+β = 0.980· σ̂ₜ = 1.000% · long-run σ = 2.236%
7.5597.7027.8447.9878.1298.271t-4999t-4166t-3333t-2500t-1666t-833t-0

Persistence near 1 ⇒ vol clusters strongly (slow mean reversion). Long-run σ is the unconditional target the conditional vol orbits. The ±2σ band reflects time-varying scale, unlike a flat-vol band.

Time-varying volatility band fitted to the price series. Persistence α+β > 0.98 means vol shocks decay slowly — recent moves stay relevant.

§∞ · Provenance & attestation

Upstream
api.hyperliquid.xyz
Snapshot fetched
2026-06-14 13:29:27 UTC
Snapshot age
2.7s
History points
25 hourly closes
Page rendered
2026-06-14 13:29:30 UTC
Storage policy
no persistence — fetched on every request
SHA-256 attestation
5325191b1dea823d57cc7972965f10a534dc1f674078f9473cea35bbff8aab70 · deterministic hash of the source snapshot — proves this page was rendered from this exact data
Open data licence
CC0 / public domain · free to mirror, syndicate, analyse

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Also see: /arb opportunities · RSS feed

Market depth

▸ live order book · Hyperliquid perp
Depth within 1bp
$0
bid $0 · ask $0
Depth within 5bp
$31.80K
bid $10.75K · ask $21.06K
Depth within 10bp
$167.32K
bid $101.49K · ask $65.84K
Depth within 50bp
$167.32K
bid $101.49K · ask $65.84K
Mid price
7.870950
(best bid + best ask) / 2
Spread
2.9bp
(bestAsk − bestBid) / mid
Imbalance (whole book)
+0.214
bid-heavy
Imbalance (top-5)
-0.227
ask-heavy top-of-book

Slippage scenarios

▸ live book walk · Hyperliquid perp

Simulating a market order at three notionals against the live book. Slippage = avg execution price vs. mid, in basis points. Worst fill = price of the deepest level touched. Live JSON: /api/asset/hl-link/slippage?size=10000&side=buy

SideNotionalAvg fillSlippageWorst fillLevelsStatus
BUY$1.00K7.87221.61bp7.87233FILLED
BUY$10.00K7.87251.94bp7.87326FILLED
BUY$100.00K7.87525.44bp7.877120PARTIAL
SELL$1.00K7.86961.68bp7.86914FILLED
SELL$10.00K7.86872.90bp7.868010FILLED
SELL$100.00K7.86675.40bp7.865020FILLED

Funding carry

▸ SHORTS PAY · longs receive
Hourly funding
-1.787e-6
-0.00018% / hr
Annualised APR
-1.567%
hourly · 24 · 365.25
Long: days to 1% carry
233.1d
longs receive
Short: days to 1% carry
233.1d
shorts pay
SideDirectionAnnualised carryDays → 1%Days → 10%
LONGRECEIVE1.567%233.1d6.39y
SHORTPAY-1.567%233.1d6.39y

/api/asset/hl-link/carry · same metrics, JSON

Volume profile

▸ real volume · Hyperliquid candlesstep $ 1 · 25 records
Price binBarsVolumeDistribution
$8.0000–$9.00003$36.63K
$7.0000–$8.0000★22$195.10K

★ POC = Point of Control (highest-volume bin). Live JSON: /api/asset/hl-link/volprofile?priceStep=1

Order flow

▸ ASK-LEAN · -0.151 · Hyperliquid candles
Bars (buy / sell)
11 / 13
1 unclassified
Buy weight
$89.27K
real volume
Sell weight
$120.97K
real volume
Net delta
$31.71K
sellers net
Imbalance
-15.08%
(buy − sell) / (buy + sell)
Toxicity (VPIN)
15.1%
two-sided / balanced
Impact (|Δp|/vol)
—
needs real volume

Sparkline = cumulative delta over the 25-record window./api/asset/hl-link/flow?rollingWindow=30

Cascade clusters

▸ DOWN · 4 found · deepest 0.89% · Hyperliquid candles

Price-only proxy for forced-unwind clusters. No exchange liquidation feed is wired — read each row as a candidate event, not a confirmed liquidation.

#WindowDurationPeak → TroughDrawdownBars
#12026-06-14 12:00:00Z1.0h7.9407→7.87040.885%2
#22026-06-14 04:00:00Z2.0h7.9729→7.91260.756%3
#32026-06-14 00:00:00Z0ms8.0139→7.96010.671%1

/api/asset/hl-link/cascades?windowMs=10800000&minDrawdownPct=0.005 · full list + parameters in JSON

Risk metrics

▸ sovereign store · 5,000 barsperiods/year ≈ 5.26M
Realized vol (annualised)
24.49%
σ per bar = 0.000107
Mean return (annualised)
-576.98%
μ per bar = -0.000001
Sharpe (rf=0)
-23.56
annualised; risk-free assumed zero
Max drawdown
0.99%
peak 7.95 → trough 7.87 over 4255 bars

/api/asset/hl-link/risk · same metrics, JSON