Hyperider

Quoting study · Oct 15, 13:03 UTC

full 6-hour cycle · published automatically by the fleet

Quote Engine v2 · PAPER report

FINAL · 6.00h elapsed · started 2026-10-15T07:03:47.287Z · 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
    0.35
    mk+10s bps
    -0.76
    spread bps
    1.50
    fills/hr
    71.5
    strict fills
    429
    marginal
    0
    replaces
    967
    capture $
    1.508
    inv now $
    300
    mkt $/hr
    $4,239,238
    15% clip cap
    $8894
  • COINsession gate
    capture bps
    -0.17
    mk+10s bps
    -0.75
    spread bps
    5.34
    fills/hr
    88.2
    strict fills
    529
    marginal
    5
    replaces
    1135
    capture $
    -0.913
    inv now $
    0
    mkt $/hr
    $124,761
    15% clip cap
    $212
  • ORCLsession gate
    capture bps
    0.46
    mk+10s bps
    -0.86
    spread bps
    2.34
    fills/hr
    28.5
    strict fills
    171
    marginal
    0
    replaces
    828
    capture $
    0.779
    inv now $
    0
    mkt $/hr
    $68,629
    15% clip cap
    $361
  • AAPLsession gate
    capture bps
    0.69
    mk+10s bps
    0.41
    spread bps
    0.87
    fills/hr
    364.2
    strict fills
    2185
    marginal
    24
    replaces
    2397
    capture $
    15.151
    inv now $
    0
    mkt $/hr
    $1,639,452
    15% clip cap
    $675
  • SUI
    capture bps
    -4.49
    mk+10s bps
    -5.04
    spread bps
    3.40
    fills/hr
    37.5
    strict fills
    225
    marginal
    0
    replaces
    1085
    capture $
    -10.102
    inv now $
    300
    mkt $/hr
    $28,650
    15% clip cap
    $115
  • NEAR
    capture bps
    -1.07
    mk+10s bps
    -1.10
    spread bps
    3.06
    fills/hr
    84.8
    strict fills
    509
    marginal
    2
    replaces
    1467
    capture $
    -5.466
    inv now $
    -300
    mkt $/hr
    $121,002
    15% clip cap
    $214
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 | 1.50 | 429 | 0 | 71.5 | 967 | 1.508 | 0.35 | -0.76 | 300 | $4,239,238 | $8894 |
| COIN ⏰ | 5.34 | 529 | 5 | 88.2 | 1135 | -0.913 | -0.17 | -0.75 | 0 | $124,761 | $212 |
| ORCL ⏰ | 2.34 | 171 | 0 | 28.5 | 828 | 0.779 | 0.46 | -0.86 | 0 | $68,629 | $361 |
| AAPL ⏰ | 0.87 | 2185 | 24 | 364.2 | 2397 | 15.151 | 0.69 | 0.41 | 0 | $1,639,452 | $675 |
| SUI | 3.40 | 225 | 0 | 37.5 | 1085 | -10.102 | -4.49 | -5.04 | 300 | $28,650 | $115 |
| NEAR | 3.06 | 509 | 2 | 84.8 | 1467 | -5.466 | -1.07 | -1.10 | -300 | $121,002 | $214 |

⏰ = 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 418hyperliquid 0local 11
  • COIN
    binance 0hyperliquid 0local 534
  • ORCL
    binance 0hyperliquid 0local 171
  • AAPL
    binance 0hyperliquid 0local 2209
  • SUI
    binance 225hyperliquid 0local 0
  • NEAR
    binance 511hyperliquid 0local 0

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

  • WULF
    spread bps
    136.79
    ratio
    104.40
    trades/min
    0.4 (thin)
    vol1s bps
    1.31
  • AI
    spread bps
    199.84
    ratio
    74.91
    trades/min
    0.3 (thin)
    vol1s bps
    2.67
  • RGTI
    spread bps
    42.57
    ratio
    13.05
    trades/min
    0.1 (thin)
    vol1s bps
    3.26
  • LUNR
    spread bps
    68.39
    ratio
    11.29
    trades/min
    0.1 (thin)
    vol1s bps
    6.06
  • SMCI
    spread bps
    14.04
    ratio
    9.19
    trades/min
    0.0 (thin)
    vol1s bps
    1.53
  • USAR
    spread bps
    13.79
    ratio
    8.56
    trades/min
    0.2 (thin)
    vol1s bps
    1.61
  • QBTS
    spread bps
    43.38
    ratio
    7.25
    trades/min
    0.0 (thin)
    vol1s bps
    5.99
  • SOFI
    spread bps
    9.95
    ratio
    6.66
    trades/min
    0.1 (thin)
    vol1s bps
    1.49
  • BE
    spread bps
    10.83
    ratio
    5.79
    trades/min
    0.4 (thin)
    vol1s bps
    1.87
  • SGOV
    spread bps
    4.98
    ratio
    5.69
    trades/min
    0.1 (thin)
    vol1s bps
    0.87
  • ANSEM
    spread bps
    145.22
    ratio
    5.16
    trades/min
    0.0 (thin)
    vol1s bps
    28.16
  • ORCL
    spread bps
    5.47
    ratio
    5.09
    trades/min
    2.4
    vol1s bps
    1.07
raw table
| market | spread bps | vol1s bps | ratio | trades/min |
|---|---|---|---|---|
| WULF | 136.79 | 1.31 | 104.40 | 0.4 (thin) |
| AI | 199.84 | 2.67 | 74.91 | 0.3 (thin) |
| RGTI | 42.57 | 3.26 | 13.05 | 0.1 (thin) |
| LUNR | 68.39 | 6.06 | 11.29 | 0.1 (thin) |
| SMCI | 14.04 | 1.53 | 9.19 | 0.0 (thin) |
| USAR | 13.79 | 1.61 | 8.56 | 0.2 (thin) |
| QBTS | 43.38 | 5.99 | 7.25 | 0.0 (thin) |
| SOFI | 9.95 | 1.49 | 6.66 | 0.1 (thin) |
| BE | 10.83 | 1.87 | 5.79 | 0.4 (thin) |
| SGOV | 4.98 | 0.87 | 5.69 | 0.1 (thin) |
| ANSEM | 145.22 | 28.16 | 5.16 | 0.0 (thin) |
| ORCL | 5.47 | 1.07 | 5.09 | 2.4 |

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 15, 13:03 UTC · Hyperider fleet report