Hyperider

Quoting study · Oct 9, 22:28 UTC

full 6-hour cycle · published automatically by the fleet

Quote Engine v2 · PAPER report

FINAL · 6.01h elapsed · started 2026-10-09T16:28:25.252Z · 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
    -0.29
    mk+10s bps
    0.83
    spread bps
    1.31
    fills/hr
    17.2
    strict fills
    103
    marginal
    0
    replaces
    421
    capture $
    -0.301
    inv now $
    300
    mkt $/hr
    $3,895,440
    15% clip cap
    $34070
  • COINsession gate
    capture bps
    0.98
    mk+10s bps
    0.38
    spread bps
    3.88
    fills/hr
    20.8
    strict fills
    125
    marginal
    5
    replaces
    180
    capture $
    1.230
    inv now $
    -200
    mkt $/hr
    $36,445
    15% clip cap
    $263
  • ORCLsession gate
    capture bps
    0.91
    mk+10s bps
    -3.66
    spread bps
    3.53
    fills/hr
    8.5
    strict fills
    51
    marginal
    0
    replaces
    78
    capture $
    0.466
    inv now $
    -300
    mkt $/hr
    $29,301
    15% clip cap
    $518
  • AAPLsession gate
    capture bps
    0.63
    mk+10s bps
    0.31
    spread bps
    0.30
    fills/hr
    24.3
    strict fills
    146
    marginal
    2
    replaces
    158
    capture $
    0.924
    inv now $
    0
    mkt $/hr
    $101,025
    15% clip cap
    $623
  • SUI
    capture bps
    -0.83
    mk+10s bps
    -1.64
    spread bps
    4.23
    fills/hr
    21.0
    strict fills
    126
    marginal
    0
    replaces
    1140
    capture $
    -1.052
    inv now $
    200
    mkt $/hr
    $31,714
    15% clip cap
    $227
  • NEAR
    capture bps
    -0.33
    mk+10s bps
    -3.41
    spread bps
    3.30
    fills/hr
    112.9
    strict fills
    678
    marginal
    5
    replaces
    1993
    capture $
    -2.207
    inv now $
    300
    mkt $/hr
    $219,795
    15% clip cap
    $292
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 | 1.31 | 103 | 0 | 17.2 | 421 | -0.301 | -0.29 | 0.83 | 300 | $3,895,440 | $34070 |
| COIN ⏰ | 3.88 | 125 | 5 | 20.8 | 180 | 1.230 | 0.98 | 0.38 | -200 | $36,445 | $263 |
| ORCL ⏰ | 3.53 | 51 | 0 | 8.5 | 78 | 0.466 | 0.91 | -3.66 | -300 | $29,301 | $518 |
| AAPL ⏰ | 0.30 | 146 | 2 | 24.3 | 158 | 0.924 | 0.63 | 0.31 | 0 | $101,025 | $623 |
| SUI | 4.23 | 126 | 0 | 21.0 | 1140 | -1.052 | -0.83 | -1.64 | 200 | $31,714 | $227 |
| NEAR | 3.30 | 678 | 5 | 112.9 | 1993 | -2.207 | -0.33 | -3.41 | 300 | $219,795 | $292 |

⏰ = 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 1 · ORCL 1 · AAPL 1).

Fair-value source mix (fills by source)

  • BTC
    binance 82hyperliquid 0local 21
  • COIN
    binance 0hyperliquid 0local 130
  • ORCL
    binance 0hyperliquid 0local 51
  • AAPL
    binance 0hyperliquid 0local 148
  • SUI
    binance 126hyperliquid 0local 0
  • NEAR
    binance 683hyperliquid 0local 0

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

  • LUNR
    spread bps
    66.53
    ratio
    19.77
    trades/min
    0.1 (thin)
    vol1s bps
    3.37
  • QBTS
    spread bps
    38.17
    ratio
    15.02
    trades/min
    0.0 (thin)
    vol1s bps
    2.54
  • RGTI
    spread bps
    46.91
    ratio
    12.89
    trades/min
    0.1 (thin)
    vol1s bps
    3.64
  • SHEIN
    spread bps
    47.97
    ratio
    6.88
    trades/min
    0.3 (thin)
    vol1s bps
    6.98
  • USO
    spread bps
    8.12
    ratio
    5.61
    trades/min
    0.6 (thin)
    vol1s bps
    1.45
  • USELESS
    spread bps
    9.99
    ratio
    5.54
    trades/min
    0.1 (thin)
    vol1s bps
    1.80
  • AI
    spread bps
    358.02
    ratio
    4.76
    trades/min
    0.2 (thin)
    vol1s bps
    75.28
  • CASHCAT
    spread bps
    23.37
    ratio
    4.19
    trades/min
    0.8 (thin)
    vol1s bps
    5.57
  • ANSEM
    spread bps
    114.08
    ratio
    4.08
    trades/min
    0.2 (thin)
    vol1s bps
    27.95
  • AAPL
    spread bps
    3.28
    ratio
    4.00
    trades/min
    30.8
    vol1s bps
    0.82
  • SLV
    spread bps
    4.19
    ratio
    3.87
    trades/min
    0.3 (thin)
    vol1s bps
    1.08
  • PONS
    spread bps
    10.43
    ratio
    3.81
    trades/min
    1.7
    vol1s bps
    2.73
raw table
| market | spread bps | vol1s bps | ratio | trades/min |
|---|---|---|---|---|
| LUNR | 66.53 | 3.37 | 19.77 | 0.1 (thin) |
| QBTS | 38.17 | 2.54 | 15.02 | 0.0 (thin) |
| RGTI | 46.91 | 3.64 | 12.89 | 0.1 (thin) |
| SHEIN | 47.97 | 6.98 | 6.88 | 0.3 (thin) |
| USO | 8.12 | 1.45 | 5.61 | 0.6 (thin) |
| USELESS | 9.99 | 1.80 | 5.54 | 0.1 (thin) |
| AI | 358.02 | 75.28 | 4.76 | 0.2 (thin) |
| CASHCAT | 23.37 | 5.57 | 4.19 | 0.8 (thin) |
| ANSEM | 114.08 | 27.95 | 4.08 | 0.2 (thin) |
| AAPL | 3.28 | 0.82 | 4.00 | 30.8 |
| SLV | 4.19 | 1.08 | 3.87 | 0.3 (thin) |
| PONS | 10.43 | 2.73 | 3.81 | 1.7 |

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.

Quoting study · Oct 9, 22:28 UTC · Hyperider fleet report