Hyperider

Quoting study · Oct 5, 09:15 UTC

cut short after 5.1h, published as a partial · published automatically by the fleet

Quote Engine v2 · PAPER report

interim · 5.06h elapsed · started 2026-10-05T04:06:10.979Z · clip $100 · halfSpread 1bps · leadMove 1.5bps · maxInv $300

NO ORDERS WERE SENT — simulated quoting against the live RH tape. Strict fills = the tape printed THROUGH our price (certain regardless of queue); marginal = printed AT it (queue-dependent, excluded from capture).

  • BTC
    capture bps
    -0.03
    mk+10s bps
    -3.24
    spread bps
    0.95
    fills/hr
    50.4
    strict fills
    255
    marginal
    0
    replaces
    617
    capture $
    -0.085
    inv now $
    300
    mkt $/hr
    $2,816,140
    15% clip cap
    $8386
  • COINsession gate
    capture bps
    0.61
    mk+10s bps
    0.13
    spread bps
    3.20
    fills/hr
    106.9
    strict fills
    541
    marginal
    5
    replaces
    934
    capture $
    3.310
    inv now $
    0
    mkt $/hr
    $54,157
    15% clip cap
    $76
  • ORCLsession gate
    capture bps
    -0.51
    mk+10s bps
    -1.36
    spread bps
    0.70
    fills/hr
    17.6
    strict fills
    89
    marginal
    2
    replaces
    372
    capture $
    -0.453
    inv now $
    -100
    mkt $/hr
    $42,208
    15% clip cap
    $360
  • AAPLsession gate
    capture bps
    0.70
    mk+10s bps
    0.54
    spread bps
    0.30
    fills/hr
    171.9
    strict fills
    870
    marginal
    4
    replaces
    967
    capture $
    6.078
    inv now $
    0
    mkt $/hr
    $490,422
    15% clip cap
    $428
  • SUI
    capture bps
    0.15
    mk+10s bps
    -5.11
    spread bps
    3.66
    fills/hr
    62.4
    strict fills
    316
    marginal
    0
    replaces
    1011
    capture $
    0.467
    inv now $
    200
    mkt $/hr
    $35,858
    15% clip cap
    $86
  • NEAR
    capture bps
    0.29
    mk+10s bps
    -5.35
    spread bps
    4.95
    fills/hr
    137.3
    strict fills
    695
    marginal
    4
    replaces
    1406
    capture $
    2.040
    inv now $
    100
    mkt $/hr
    $283,210
    15% clip cap
    $309
raw table
| market | spread bps | strict fills | marginal | fills/hr | replaces | capture $ | capture bps | mk+10s bps | inv now $ | mkt $/hr | 15% clip cap |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BTC | 0.95 | 255 | 0 | 50.4 | 617 | -0.085 | -0.03 | -3.24 | 300 | $2,816,140 | $8386 |
| COIN ⏰ | 3.20 | 541 | 5 | 106.9 | 934 | 3.310 | 0.61 | 0.13 | 0 | $54,157 | $76 |
| ORCL ⏰ | 0.70 | 89 | 2 | 17.6 | 372 | -0.453 | -0.51 | -1.36 | -100 | $42,208 | $360 |
| AAPL ⏰ | 0.30 | 870 | 4 | 171.9 | 967 | 6.078 | 0.70 | 0.54 | 0 | $490,422 | $428 |
| SUI | 3.66 | 316 | 0 | 62.4 | 1011 | 0.467 | 0.15 | -5.11 | 200 | $35,858 | $86 |
| NEAR | 4.95 | 695 | 4 | 137.3 | 1406 | 2.040 | 0.29 | -5.35 | 100 | $283,210 | $309 |

⏰ = stock-token under the SESSION GATE: quotes only while the underlying is closed (gate 13:00–21:00 UTC Mon–Fri, inventory force-flattened at gate-in; flattens so far: COIN 0 · ORCL 0 · AAPL 0).

Fair-value source mix (fills by source)

  • BTC
    binance 244hyperliquid 0local 11
  • COIN
    binance 0hyperliquid 0local 546
  • ORCL
    binance 0hyperliquid 0local 91
  • AAPL
    binance 0hyperliquid 0local 874
  • SUI
    binance 316hyperliquid 0local 0
  • NEAR
    binance 699hyperliquid 0local 0

Ranking at launch (spread-to-1s-vol)

  • CLSK
    spread bps
    67.52
    ratio
    25.18
    trades/min
    0.3 (thin)
    vol1s bps
    2.68
  • WULF
    spread bps
    156.22
    ratio
    16.18
    trades/min
    1.1 (thin)
    vol1s bps
    9.65
  • LUNR
    spread bps
    31.79
    ratio
    12.19
    trades/min
    0.0 (thin)
    vol1s bps
    2.61
  • AI
    spread bps
    393.66
    ratio
    9.95
    trades/min
    1.2 (thin)
    vol1s bps
    39.57
  • BE
    spread bps
    8.62
    ratio
    9.41
    trades/min
    0.4 (thin)
    vol1s bps
    0.92
  • SOFI
    spread bps
    15.13
    ratio
    8.90
    trades/min
    0.0 (thin)
    vol1s bps
    1.70
  • SMCI
    spread bps
    11.61
    ratio
    8.34
    trades/min
    0.1 (thin)
    vol1s bps
    1.39
  • AMZN
    spread bps
    2.78
    ratio
    8.32
    trades/min
    3.9
    vol1s bps
    0.33
  • USO
    spread bps
    6.90
    ratio
    6.82
    trades/min
    0.4 (thin)
    vol1s bps
    1.01
  • ANSEM
    spread bps
    122.56
    ratio
    5.65
    trades/min
    2.0
    vol1s bps
    21.70
  • VVV
    spread bps
    9.51
    ratio
    5.29
    trades/min
    1.0 (thin)
    vol1s bps
    1.80
  • META
    spread bps
    5.49
    ratio
    5.28
    trades/min
    7.0
    vol1s bps
    1.04
raw table
| market | spread bps | vol1s bps | ratio | trades/min |
|---|---|---|---|---|
| CLSK | 67.52 | 2.68 | 25.18 | 0.3 (thin) |
| WULF | 156.22 | 9.65 | 16.18 | 1.1 (thin) |
| LUNR | 31.79 | 2.61 | 12.19 | 0.0 (thin) |
| AI | 393.66 | 39.57 | 9.95 | 1.2 (thin) |
| BE | 8.62 | 0.92 | 9.41 | 0.4 (thin) |
| SOFI | 15.13 | 1.70 | 8.90 | 0.0 (thin) |
| SMCI | 11.61 | 1.39 | 8.34 | 0.1 (thin) |
| AMZN | 2.78 | 0.33 | 8.32 | 3.9 |
| USO | 6.90 | 1.01 | 6.82 | 0.4 (thin) |
| ANSEM | 122.56 | 21.70 | 5.65 | 2.0 |
| VVV | 9.51 | 1.80 | 5.29 | 1.0 (thin) |
| META | 5.49 | 1.04 | 5.28 | 7.0 |

Verdict inputs: capture bps = mark-to-fair PnL per strict-filled notional; net expected bps ≈ capture + mk+10s (drift after our fills). Deploy only where BOTH are ≥ 0 across a full day. Interim — numbers move until the run completes.

Quoting study · Oct 5, 09:15 UTC · Hyperider fleet report