1/ Midweek Hyperliquid Report 2026-10-30 The week's funding dislocation of scale sits on the native book, where $HYPE longs pay 143% annualised on $1.94BN of OI, the venue's third-largest native book; across the @tradexyz builder book UNITREE shorts pay 522% annualised, though on $27MM of OI a sized long moves that rate before it ever collects it. CXMT shorts pay 105% on $36MM, while SMSN longs pay 70% on $42MM; native HL prints +10.95% across 103 of 179 listings and +18% OI-weighted. (i) Forced flow (ii) HIP-3 turnover (iii) The algo tape (iv) HIP-3 markets by OI
1/ Midweek Hyperliquid Report 2026-10-22 Above the $50MM OI floor, eleven of the twelve fastest-turning books on HL are @tradexyz builder markets, led by SPCX at 228% of its $0.14B OI daily, with DRAM at 167%, SNDK at 144% and NVDA at 120% behind it. NEAR is the only native HL name in the top twelve, at 84%. (i) Forced flow (ii) Funding and the algo tape (iii) HIP-3 builder markets
Head of Markets @scopicview spoke to the @TheBlockCo about the latest risk-off move in crypto and other risk assets. Full quote below: On what drove it / the spillover: The sell-off was primarily macro-driven, with Wednesday's hotter-than-expected US CPI reviving fears of further Fed hikes and weighing on risk assets broadly. Risk assets repriced together, while AI and memory stocks had already been struggling in recent weeks. Korea's sell-off also predates the CPI print, driven by concerns around the memory and AI cycle, with the inflation surprise adding further pressure. Both markets are responding to the same broader risk-off environment. On what traders are watching: Traders are watching whether the Fed hike expectations continue to build, with October hike odds now around 33%, alongside US yields and whether the sell-off in Asian tech, particularly Korean semiconductors, stabilises. On the crypto side, positioning is important. Nearly $900MM in long liquidations suggests significant leverage has already been flushed out, so the question is whether spot demand returns or the broader macro pressure keeps weighing on prices.
1/ Midweek Hyperliquid Report 2026-10-15 Hyperliquid's forced flow over the past 7d has been overwhelmingly one-sided: $211MM of liquidated longs against $74MM of shorts, across three heavy consecutive sessions from 12 to 14 October. The peak came on the 13th at $82MM, $64MM of it long. The 15 October bar is a part session, so the run has not closed. (i) Forced flow (ii) Funding and the algo tape (iii) HIP-3 builder markets
1/ Midweek Hyperliquid Report 2026-10-01 @tradexyz builder listings occupy the whole top of Hyperliquid's turnover table, with BRENTOIL churning 116% of its $0.14B OI daily, SILVER 114% on $0.17B and CL 111% on $0.15B; $BTC is the only native book above $50MM of OI keeping pace, at 102% on $2.85B of OI. Those builder books are roughly a twentieth the size, so the churn is cheap to produce. (i) Forced flow (ii) Funding and the algo tape (iii) HIP-3 builder markets
1/ Midweek Hyperliquid Report 2026-09-24 The week's forced flow on Hyperliquid ran against the shorts by nearly three to one, with $365MM of short liquidations over 7d against $133MM of longs, though the skew is concentrated in one session, 21 Sep alone carrying $218MM of forced flow of which $207MM was liquidated shorts. The direction has since turned over, with 23 Sep closing on long liquidations and 24 Sep running the same way through the first half of the session. (i) Forced flow (ii) Funding and turnover (iii) The algo tape and HIP-3 markets
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