Hyperider

Quoting study · Oct 16, 13:56 UTC

full 6-hour cycle · published automatically by the fleet

Quote Engine v2 · PAPER report

FINAL · 6.00h elapsed · started 2026-10-16T07:56:47.854Z · 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
    0.21
    mk+10s bps
    -1.14
    spread bps
    1.21
    fills/hr
    88.1
    strict fills
    529
    marginal
    0
    replaces
    1046
    capture $
    1.124
    inv now $
    300
    mkt $/hr
    $4,268,086
    15% clip cap
    $7263
  • COINsession gate
    capture bps
    0.65
    mk+10s bps
    -0.24
    spread bps
    3.87
    fills/hr
    150.0
    strict fills
    900
    marginal
    15
    replaces
    1370
    capture $
    5.861
    inv now $
    0
    mkt $/hr
    $233,969
    15% clip cap
    $234
  • ORCLsession gate
    capture bps
    1.65
    mk+10s bps
    -1.13
    spread bps
    3.75
    fills/hr
    23.3
    strict fills
    140
    marginal
    0
    replaces
    502
    capture $
    2.304
    inv now $
    0
    mkt $/hr
    $63,852
    15% clip cap
    $411
  • AAPLsession gate
    capture bps
    0.63
    mk+10s bps
    -0.06
    spread bps
    2.30
    fills/hr
    336.4
    strict fills
    2019
    marginal
    22
    replaces
    2234
    capture $
    12.700
    inv now $
    0
    mkt $/hr
    $1,309,179
    15% clip cap
    $584
  • SUI
    capture bps
    0.35
    mk+10s bps
    -3.21
    spread bps
    2.31
    fills/hr
    19.8
    strict fills
    119
    marginal
    0
    replaces
    985
    capture $
    0.422
    inv now $
    300
    mkt $/hr
    $19,127
    15% clip cap
    $145
  • NEAR
    capture bps
    0.75
    mk+10s bps
    -0.90
    spread bps
    1.72
    fills/hr
    134.3
    strict fills
    806
    marginal
    9
    replaces
    1854
    capture $
    6.067
    inv now $
    300
    mkt $/hr
    $117,261
    15% clip cap
    $131
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 | 1.21 | 529 | 0 | 88.1 | 1046 | 1.124 | 0.21 | -1.14 | 300 | $4,268,086 | $7263 |
| COIN ⏰ | 3.87 | 900 | 15 | 150.0 | 1370 | 5.861 | 0.65 | -0.24 | 0 | $233,969 | $234 |
| ORCL ⏰ | 3.75 | 140 | 0 | 23.3 | 502 | 2.304 | 1.65 | -1.13 | 0 | $63,852 | $411 |
| AAPL ⏰ | 2.30 | 2019 | 22 | 336.4 | 2234 | 12.700 | 0.63 | -0.06 | 0 | $1,309,179 | $584 |
| SUI | 2.31 | 119 | 0 | 19.8 | 985 | 0.422 | 0.35 | -3.21 | 300 | $19,127 | $145 |
| NEAR | 1.72 | 806 | 9 | 134.3 | 1854 | 6.067 | 0.75 | -0.90 | 300 | $117,261 | $131 |

⏰ = 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 525hyperliquid 0local 4
  • COIN
    binance 0hyperliquid 0local 915
  • ORCL
    binance 0hyperliquid 0local 140
  • AAPL
    binance 0hyperliquid 0local 2041
  • SUI
    binance 119hyperliquid 0local 0
  • NEAR
    binance 815hyperliquid 0local 0

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

  • WULF
    spread bps
    157.42
    ratio
    27.73
    trades/min
    0.1 (thin)
    vol1s bps
    5.68
  • SGOV
    spread bps
    1.99
    ratio
    24.91
    trades/min
    0.2 (thin)
    vol1s bps
    0.08
  • AI
    spread bps
    292.97
    ratio
    14.40
    trades/min
    0.1 (thin)
    vol1s bps
    20.34
  • LUNR
    spread bps
    68.89
    ratio
    12.09
    trades/min
    0.1 (thin)
    vol1s bps
    5.70
  • CLSK
    spread bps
    44.75
    ratio
    11.77
    trades/min
    0.0 (thin)
    vol1s bps
    3.80
  • RGTI
    spread bps
    65.09
    ratio
    11.09
    trades/min
    0.1 (thin)
    vol1s bps
    5.87
  • SHEIN
    spread bps
    53.09
    ratio
    10.17
    trades/min
    0.8 (thin)
    vol1s bps
    5.22
  • QBTS
    spread bps
    59.40
    ratio
    9.83
    trades/min
    0.0 (thin)
    vol1s bps
    6.04
  • USAR
    spread bps
    15.30
    ratio
    9.28
    trades/min
    0.3 (thin)
    vol1s bps
    1.65
  • ANSEM
    spread bps
    164.95
    ratio
    8.20
    trades/min
    0.0 (thin)
    vol1s bps
    20.11
  • SOFI
    spread bps
    12.54
    ratio
    6.37
    trades/min
    0.1 (thin)
    vol1s bps
    1.97
  • ORCL
    spread bps
    2.98
    ratio
    5.67
    trades/min
    0.7 (thin)
    vol1s bps
    0.53
raw table
| market | spread bps | vol1s bps | ratio | trades/min |
|---|---|---|---|---|
| WULF | 157.42 | 5.68 | 27.73 | 0.1 (thin) |
| SGOV | 1.99 | 0.08 | 24.91 | 0.2 (thin) |
| AI | 292.97 | 20.34 | 14.40 | 0.1 (thin) |
| LUNR | 68.89 | 5.70 | 12.09 | 0.1 (thin) |
| CLSK | 44.75 | 3.80 | 11.77 | 0.0 (thin) |
| RGTI | 65.09 | 5.87 | 11.09 | 0.1 (thin) |
| SHEIN | 53.09 | 5.22 | 10.17 | 0.8 (thin) |
| QBTS | 59.40 | 6.04 | 9.83 | 0.0 (thin) |
| USAR | 15.30 | 1.65 | 9.28 | 0.3 (thin) |
| ANSEM | 164.95 | 20.11 | 8.20 | 0.0 (thin) |
| SOFI | 12.54 | 1.97 | 6.37 | 0.1 (thin) |
| ORCL | 2.98 | 0.53 | 5.67 | 0.7 (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.