Hyperider

Quoting study · Oct 8, 10:05 UTC

cut short after 1 min, published as a partial · published automatically by the fleet

Quote Engine v2 · PAPER report

interim · 0.01h elapsed · started 2026-10-08T09:44:11.930Z · 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
    0.90
    mk+10s bps
    -1.76
    spread bps
    0.43
    fills/hr
    1000.0
    strict fills
    10
    marginal
    0
    replaces
    10
    capture $
    0.090
    inv now $
    200
    mkt $/hr
    $7,157,835
    15% clip cap
    $1074
  • COINsession gate
    capture bps
    1.65
    mk+10s bps
    -20.40
    spread bps
    5.61
    fills/hr
    1700.0
    strict fills
    17
    marginal
    0
    replaces
    17
    capture $
    0.281
    inv now $
    100
    mkt $/hr
    $1,783,117
    15% clip cap
    $157
  • ORCLsession gate
    capture bps
    0.87
    mk+10s bps
    -3.24
    spread bps
    2.80
    fills/hr
    1800.0
    strict fills
    18
    marginal
    0
    replaces
    18
    capture $
    0.157
    inv now $
    200
    mkt $/hr
    $1,376,318
    15% clip cap
    $115
  • AAPLsession gate
    capture bps
    1.33
    mk+10s bps
    -0.69
    spread bps
    0.30
    fills/hr
    300.0
    strict fills
    3
    marginal
    0
    replaces
    3
    capture $
    0.040
    inv now $
    -300
    mkt $/hr
    $9,773,337
    15% clip cap
    $4887
  • SUI
    capture bps
    1.26
    mk+10s bps
    -60.53
    spread bps
    4.32
    fills/hr
    800.0
    strict fills
    8
    marginal
    0
    replaces
    8
    capture $
    0.101
    inv now $
    0
    mkt $/hr
    $5,221,964
    15% clip cap
    $979
  • NEAR
    capture bps
    -0.22
    mk+10s bps
    -5.25
    spread bps
    2.67
    fills/hr
    2300.0
    strict fills
    23
    marginal
    0
    replaces
    23
    capture $
    -0.051
    inv now $
    300
    mkt $/hr
    $672,284
    15% clip cap
    $44
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 | 0.43 | 10 | 0 | 1000.0 | 10 | 0.090 | 0.90 | -1.76 | 200 | $7,157,835 | $1074 |
| COIN ⏰ | 5.61 | 17 | 0 | 1700.0 | 17 | 0.281 | 1.65 | -20.40 | 100 | $1,783,117 | $157 |
| ORCL ⏰ | 2.80 | 18 | 0 | 1800.0 | 18 | 0.157 | 0.87 | -3.24 | 200 | $1,376,318 | $115 |
| AAPL ⏰ | 0.30 | 3 | 0 | 300.0 | 3 | 0.040 | 1.33 | -0.69 | -300 | $9,773,337 | $4887 |
| SUI | 4.32 | 8 | 0 | 800.0 | 8 | 0.101 | 1.26 | -60.53 | 0 | $5,221,964 | $979 |
| NEAR | 2.67 | 23 | 0 | 2300.0 | 23 | -0.051 | -0.22 | -5.25 | 300 | $672,284 | $44 |

⏰ = 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 0hyperliquid 0local 10
  • COIN
    binance 0hyperliquid 0local 17
  • ORCL
    binance 0hyperliquid 0local 18
  • AAPL
    binance 0hyperliquid 0local 3
  • SUI
    binance 8hyperliquid 0local 0
  • NEAR
    binance 23hyperliquid 0local 0

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

  • WULF
    spread bps
    178.61
    ratio
    72.07
    trades/min
    0.4 (thin)
    vol1s bps
    2.48
  • RGTI
    spread bps
    66.49
    ratio
    15.87
    trades/min
    0.0 (thin)
    vol1s bps
    4.19
  • SMCI
    spread bps
    9.25
    ratio
    11.82
    trades/min
    0.2 (thin)
    vol1s bps
    0.78
  • CLSK
    spread bps
    64.81
    ratio
    11.65
    trades/min
    0.0 (thin)
    vol1s bps
    5.56
  • LUNR
    spread bps
    49.13
    ratio
    10.91
    trades/min
    0.1 (thin)
    vol1s bps
    4.50
  • QBTS
    spread bps
    60.24
    ratio
    9.25
    trades/min
    0.1 (thin)
    vol1s bps
    6.51
  • USAR
    spread bps
    9.12
    ratio
    9.00
    trades/min
    2.2
    vol1s bps
    1.01
  • ANSEM
    spread bps
    69.66
    ratio
    8.89
    trades/min
    0.2 (thin)
    vol1s bps
    7.83
  • AI
    spread bps
    322.74
    ratio
    7.02
    trades/min
    0.1 (thin)
    vol1s bps
    45.99
  • IREN
    spread bps
    10.36
    ratio
    5.15
    trades/min
    0.2 (thin)
    vol1s bps
    2.01
  • SGOV
    spread bps
    1.99
    ratio
    4.98
    trades/min
    0.1 (thin)
    vol1s bps
    0.40
  • USELESS
    spread bps
    12.34
    ratio
    4.87
    trades/min
    0.2 (thin)
    vol1s bps
    2.53
raw table
| market | spread bps | vol1s bps | ratio | trades/min |
|---|---|---|---|---|
| WULF | 178.61 | 2.48 | 72.07 | 0.4 (thin) |
| RGTI | 66.49 | 4.19 | 15.87 | 0.0 (thin) |
| SMCI | 9.25 | 0.78 | 11.82 | 0.2 (thin) |
| CLSK | 64.81 | 5.56 | 11.65 | 0.0 (thin) |
| LUNR | 49.13 | 4.50 | 10.91 | 0.1 (thin) |
| QBTS | 60.24 | 6.51 | 9.25 | 0.1 (thin) |
| USAR | 9.12 | 1.01 | 9.00 | 2.2 |
| ANSEM | 69.66 | 7.83 | 8.89 | 0.2 (thin) |
| AI | 322.74 | 45.99 | 7.02 | 0.1 (thin) |
| IREN | 10.36 | 2.01 | 5.15 | 0.2 (thin) |
| SGOV | 1.99 | 0.40 | 4.98 | 0.1 (thin) |
| USELESS | 12.34 | 2.53 | 4.87 | 0.2 (thin) |

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 8, 10:05 UTC · Hyperider fleet report