Hyperider

Quoting study · Oct 13, 05:09 UTC

full 6-hour cycle · published automatically by the fleet

Quote Engine v2 · PAPER report

FINAL · 6.00h elapsed · started 2026-10-12T23:09:04.949Z · 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
    1.56
    mk+10s bps
    0.72
    spread bps
    0.81
    fills/hr
    74.8
    strict fills
    449
    marginal
    0
    replaces
    1014
    capture $
    6.986
    inv now $
    300
    mkt $/hr
    $4,066,751
    15% clip cap
    $8155
  • COINsession gate
    capture bps
    0.13
    mk+10s bps
    -0.91
    spread bps
    3.86
    fills/hr
    112.4
    strict fills
    675
    marginal
    11
    replaces
    1309
    capture $
    0.908
    inv now $
    0
    mkt $/hr
    $109,084
    15% clip cap
    $146
  • ORCLsession gate
    capture bps
    0.08
    mk+10s bps
    -0.65
    spread bps
    2.94
    fills/hr
    84.1
    strict fills
    505
    marginal
    12
    replaces
    984
    capture $
    0.415
    inv now $
    300
    mkt $/hr
    $22,460
    15% clip cap
    $40
  • AAPLsession gate
    capture bps
    0.72
    mk+10s bps
    0.54
    spread bps
    0.59
    fills/hr
    281.5
    strict fills
    1690
    marginal
    27
    replaces
    1816
    capture $
    12.201
    inv now $
    -100
    mkt $/hr
    $694,972
    15% clip cap
    $370
  • SUI
    capture bps
    2.09
    mk+10s bps
    -4.37
    spread bps
    3.01
    fills/hr
    41.0
    strict fills
    246
    marginal
    1
    replaces
    1039
    capture $
    5.144
    inv now $
    300
    mkt $/hr
    $24,822
    15% clip cap
    $91
  • NEAR
    capture bps
    2.13
    mk+10s bps
    -3.80
    spread bps
    4.12
    fills/hr
    155.4
    strict fills
    933
    marginal
    10
    replaces
    1858
    capture $
    19.882
    inv now $
    300
    mkt $/hr
    $339,846
    15% clip cap
    $328
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 | 0.81 | 449 | 0 | 74.8 | 1014 | 6.986 | 1.56 | 0.72 | 300 | $4,066,751 | $8155 |
| COIN ⏰ | 3.86 | 675 | 11 | 112.4 | 1309 | 0.908 | 0.13 | -0.91 | 0 | $109,084 | $146 |
| ORCL ⏰ | 2.94 | 505 | 12 | 84.1 | 984 | 0.415 | 0.08 | -0.65 | 300 | $22,460 | $40 |
| AAPL ⏰ | 0.59 | 1690 | 27 | 281.5 | 1816 | 12.201 | 0.72 | 0.54 | -100 | $694,972 | $370 |
| SUI | 3.01 | 246 | 1 | 41.0 | 1039 | 5.144 | 2.09 | -4.37 | 300 | $24,822 | $91 |
| NEAR | 4.12 | 933 | 10 | 155.4 | 1858 | 19.882 | 2.13 | -3.80 | 300 | $339,846 | $328 |

⏰ = 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 446hyperliquid 0local 3
  • COIN
    binance 0hyperliquid 0local 686
  • ORCL
    binance 0hyperliquid 0local 517
  • AAPL
    binance 0hyperliquid 0local 1717
  • SUI
    binance 247hyperliquid 0local 0
  • NEAR
    binance 943hyperliquid 0local 0

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

  • AI
    spread bps
    781.88
    ratio
    18.20
    trades/min
    0.1 (thin)
    vol1s bps
    42.96
  • USO
    spread bps
    7.28
    ratio
    10.57
    trades/min
    0.3 (thin)
    vol1s bps
    0.69
  • PLTR
    spread bps
    2.45
    ratio
    8.22
    trades/min
    4.9
    vol1s bps
    0.30
  • TSM
    spread bps
    3.37
    ratio
    6.63
    trades/min
    1.1 (thin)
    vol1s bps
    0.51
  • ORCL
    spread bps
    2.92
    ratio
    6.42
    trades/min
    3.2
    vol1s bps
    0.45
  • META
    spread bps
    2.83
    ratio
    5.78
    trades/min
    5.6
    vol1s bps
    0.49
  • AMC
    spread bps
    18.48
    ratio
    5.51
    trades/min
    0.1 (thin)
    vol1s bps
    3.35
  • MSFT
    spread bps
    2.03
    ratio
    5.25
    trades/min
    9.0
    vol1s bps
    0.39
  • XAG
    spread bps
    1.28
    ratio
    4.63
    trades/min
    4.1
    vol1s bps
    0.28
  • BE
    spread bps
    8.82
    ratio
    3.61
    trades/min
    7.6
    vol1s bps
    2.44
  • AMZN
    spread bps
    1.54
    ratio
    3.56
    trades/min
    10.3
    vol1s bps
    0.43
  • AMD
    spread bps
    1.86
    ratio
    3.40
    trades/min
    5.0
    vol1s bps
    0.55
raw table
| market | spread bps | vol1s bps | ratio | trades/min |
|---|---|---|---|---|
| AI | 781.88 | 42.96 | 18.20 | 0.1 (thin) |
| USO | 7.28 | 0.69 | 10.57 | 0.3 (thin) |
| PLTR | 2.45 | 0.30 | 8.22 | 4.9 |
| TSM | 3.37 | 0.51 | 6.63 | 1.1 (thin) |
| ORCL | 2.92 | 0.45 | 6.42 | 3.2 |
| META | 2.83 | 0.49 | 5.78 | 5.6 |
| AMC | 18.48 | 3.35 | 5.51 | 0.1 (thin) |
| MSFT | 2.03 | 0.39 | 5.25 | 9.0 |
| XAG | 1.28 | 0.28 | 4.63 | 4.1 |
| BE | 8.82 | 2.44 | 3.61 | 7.6 |
| AMZN | 1.54 | 0.43 | 3.56 | 10.3 |
| AMD | 1.86 | 0.55 | 3.40 | 5.0 |

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.

Quoting study · Oct 13, 05:09 UTC · Hyperider fleet report