Hyperider

Quoting study · Oct 13, 17:31 UTC

full 6-hour cycle · published automatically by the fleet

Quote Engine v2 · PAPER report

FINAL · 6.00h elapsed · started 2026-10-13T11:31:41.024Z · 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
    -0.15
    mk+10s bps
    -1.43
    spread bps
    0.31
    fills/hr
    47.5
    strict fills
    285
    marginal
    0
    replaces
    916
    capture $
    -0.413
    inv now $
    300
    mkt $/hr
    $3,796,574
    15% clip cap
    $11992
  • COINsession gate
    capture bps
    0.55
    mk+10s bps
    -2.39
    spread bps
    3.87
    fills/hr
    25.8
    strict fills
    155
    marginal
    1
    replaces
    309
    capture $
    0.848
    inv now $
    0
    mkt $/hr
    $28,163
    15% clip cap
    $164
  • ORCLsession gate
    capture bps
    -0.09
    mk+10s bps
    -4.40
    spread bps
    3.68
    fills/hr
    10.0
    strict fills
    60
    marginal
    5
    replaces
    147
    capture $
    -0.054
    inv now $
    0
    mkt $/hr
    $3,438
    15% clip cap
    $52
  • AAPLsession gate
    capture bps
    0.79
    mk+10s bps
    0.56
    spread bps
    0.58
    fills/hr
    241.8
    strict fills
    1451
    marginal
    15
    replaces
    1522
    capture $
    11.402
    inv now $
    0
    mkt $/hr
    $348,520
    15% clip cap
    $216
  • SUI
    capture bps
    -0.25
    mk+10s bps
    -3.48
    spread bps
    2.77
    fills/hr
    33.7
    strict fills
    202
    marginal
    1
    replaces
    1518
    capture $
    -0.508
    inv now $
    300
    mkt $/hr
    $30,729
    15% clip cap
    $137
  • NEAR
    capture bps
    -1.80
    mk+10s bps
    -1.73
    spread bps
    3.00
    fills/hr
    127.6
    strict fills
    766
    marginal
    5
    replaces
    2300
    capture $
    -13.826
    inv now $
    300
    mkt $/hr
    $255,302
    15% clip cap
    $300
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 | 0.31 | 285 | 0 | 47.5 | 916 | -0.413 | -0.15 | -1.43 | 300 | $3,796,574 | $11992 |
| COIN ⏰ | 3.87 | 155 | 1 | 25.8 | 309 | 0.848 | 0.55 | -2.39 | 0 | $28,163 | $164 |
| ORCL ⏰ | 3.68 | 60 | 5 | 10.0 | 147 | -0.054 | -0.09 | -4.40 | 0 | $3,438 | $52 |
| AAPL ⏰ | 0.58 | 1451 | 15 | 241.8 | 1522 | 11.402 | 0.79 | 0.56 | 0 | $348,520 | $216 |
| SUI | 2.77 | 202 | 1 | 33.7 | 1518 | -0.508 | -0.25 | -3.48 | 300 | $30,729 | $137 |
| NEAR | 3.00 | 766 | 5 | 127.6 | 2300 | -13.826 | -1.80 | -1.73 | 300 | $255,302 | $300 |

⏰ = 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 280hyperliquid 0local 5
  • COIN
    binance 0hyperliquid 0local 156
  • ORCL
    binance 0hyperliquid 0local 65
  • AAPL
    binance 0hyperliquid 0local 1466
  • SUI
    binance 203hyperliquid 0local 0
  • NEAR
    binance 771hyperliquid 0local 0

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

  • CLSK
    spread bps
    35.42
    ratio
    24.10
    trades/min
    0.0 (thin)
    vol1s bps
    1.47
  • RGTI
    spread bps
    44.48
    ratio
    16.89
    trades/min
    0.0 (thin)
    vol1s bps
    2.63
  • AI
    spread bps
    152.40
    ratio
    15.35
    trades/min
    0.2 (thin)
    vol1s bps
    9.93
  • SGOV
    spread bps
    1.99
    ratio
    13.76
    trades/min
    0.2 (thin)
    vol1s bps
    0.14
  • USO
    spread bps
    14.09
    ratio
    12.99
    trades/min
    0.7 (thin)
    vol1s bps
    1.08
  • WULF
    spread bps
    139.72
    ratio
    10.58
    trades/min
    0.2 (thin)
    vol1s bps
    13.20
  • SMCI
    spread bps
    11.31
    ratio
    7.47
    trades/min
    0.1 (thin)
    vol1s bps
    1.51
  • ORCL
    spread bps
    4.40
    ratio
    6.27
    trades/min
    2.6
    vol1s bps
    0.70
  • SHEIN
    spread bps
    33.09
    ratio
    5.66
    trades/min
    0.6 (thin)
    vol1s bps
    5.85
  • QBTS
    spread bps
    46.02
    ratio
    5.44
    trades/min
    0.0 (thin)
    vol1s bps
    8.47
  • SLV
    spread bps
    3.85
    ratio
    5.37
    trades/min
    0.2 (thin)
    vol1s bps
    0.72
  • ANSEM
    spread bps
    59.84
    ratio
    5.02
    trades/min
    0.4 (thin)
    vol1s bps
    11.92
raw table
| market | spread bps | vol1s bps | ratio | trades/min |
|---|---|---|---|---|
| CLSK | 35.42 | 1.47 | 24.10 | 0.0 (thin) |
| RGTI | 44.48 | 2.63 | 16.89 | 0.0 (thin) |
| AI | 152.40 | 9.93 | 15.35 | 0.2 (thin) |
| SGOV | 1.99 | 0.14 | 13.76 | 0.2 (thin) |
| USO | 14.09 | 1.08 | 12.99 | 0.7 (thin) |
| WULF | 139.72 | 13.20 | 10.58 | 0.2 (thin) |
| SMCI | 11.31 | 1.51 | 7.47 | 0.1 (thin) |
| ORCL | 4.40 | 0.70 | 6.27 | 2.6 |
| SHEIN | 33.09 | 5.85 | 5.66 | 0.6 (thin) |
| QBTS | 46.02 | 8.47 | 5.44 | 0.0 (thin) |
| SLV | 3.85 | 0.72 | 5.37 | 0.2 (thin) |
| ANSEM | 59.84 | 11.92 | 5.02 | 0.4 (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.

Quoting study · Oct 13, 17:31 UTC · Hyperider fleet report