Independent Hyperliquid workbench. Live data can be stale, partial, or unavailable.
Data terms
A trader reference for the live market fields and HypeBasis labels shown across markets, funding, watchlists, portfolio, and calculators.
HypeBasis uses public Hyperliquid data to organize trader context: price, funding, open interest, volume, spread, liquidity, and setup labels, including Flow Lab proxy metrics. The fields below explain what each number means, how traders use it, and where it can mislead.
The reference price HypeBasis shows for a perp market from public Hyperliquid data.
Use it as the starting point for market scans, detail pages, and calculators.
A displayed mark is not guaranteed executable. Always compare it with order-book depth and spread before assuming you can trade at that level.
An external reference price used for marks, funding, and liquidation-related calculations.
Check oracle quality when a derivative references a market that can move differently from the visible order book.
Oracle behavior can differ by product and market. Thin or synthetic markets need extra caution around old or disputed reference data.
The midpoint between the best bid and best ask when order-book quotes are available.
Use mid price to estimate the center of the quoted market and the spread around it.
Mid price is not a fill price. A market can show a reasonable mid while meaningful size trades through multiple price levels.
The percentage difference between the displayed mark price and oracle price.
Use it to spot when the traded derivative reference and external reference price are separated enough to deserve a closer look.
A small gap is normal in live markets. A larger gap is context for review, not a standalone long or short signal.
The open position size in a perp market, shown by HypeBasis as estimated notional.
Use high open interest to find where trader positioning and liquidity concentrate.
High OI can mean healthy participation or crowded leverage. Compare it with funding, volume, and spread before drawing conclusions.
The last 24 hours of trading activity, shown as notional value.
Use volume to identify active markets, then confirm tight spreads and depth before assuming easier execution.
Volume can spike during stress. High activity is not the same thing as low risk or good liquidity at your order size.
A HypeBasis ratio comparing recent 24-hour volume with open interest.
Use it to separate markets with static positioning from markets where positions turn over often.
The ratio is a heuristic. It can look high because volume surged, OI fell, or both happened at once.
A free Hyperliquid info response for validator status, jail status, stake, commission, signer, and recent blocks.
Use it to check validator concentration and reliability risk.
A validator summary is not a delegation recommendation. Show source time, old-data labels, and missing fields before comparing validators.
A Flow Lab proxy that groups recent candle close volume into price buckets and reports the strongest bucket price plus its share of visible close-volume.
Use the profile pocket to spot the visible price area where recent close-volume clustered before comparing the chart with funding, spread, and depth.
It is not a true trade-by-price volume profile. It uses candle close volume, so intrabar trading and aggressive flow are not captured.
The periodic perp payment rate between longs and shorts. Positive funding generally means longs pay shorts; negative funding generally means shorts pay longs.
Funding can turn a flat price path into a cost or income stream for traders holding positions through funding events.
A high rate can signal crowding, but it is not a reversal signal by itself. Funding can stay extreme longer than expected.
A display conversion that scales the current periodic funding rate into a rough annualized number.
Use annualized funding to compare carry pressure across markets.
It is not a forecast. It assumes the current rate persists, which often fails during volatile or crowded periods.
The gap between the best bid and best ask in an order book, usually shown as basis points on HypeBasis.
Spread is direct trading friction. Wider spreads can make a trade lose value after entry.
A narrow top-of-book spread can still hide thin depth. Check order-book size before trading meaningful notional.
The sampled notional value visible across the bids and asks HypeBasis fetched from the order book.
Use visible depth to judge whether the shown spread is backed by enough nearby liquidity for further review.
Visible depth is a snapshot and may move quickly. It is not a guarantee that your order will fill at the displayed prices.
An estimate of how far price may move when a specific order size consumes visible book liquidity.
Use impact to translate liquidity from a generic label into an order-size problem.
Visible depth may move quickly. Impact estimates can understate slippage during volatile markets or API delays.
The visible bid and ask notional HypeBasis can sample from public Hyperliquid L2 book data at the time the page loads.
Use sampled public depth to check whether the visible book looks deep enough for closer review.
It is not hidden liquidity, a guarantee of fill quality, or a durable order-book history. Levels may move before an order reaches the venue.
Visible order-book depth sampled from free public venues such as Binance or Coinbase.
Use it to compare whether Hyperliquid's visible BTC, ETH, or SOL book looks thin or broad versus major external venues.
Reference depth does not tell you where to trade and does not guarantee liquidity.
The largest visible bid or ask level HypeBasis found in the currently sampled order book near the live top-of-book reference.
Use sampled walls to find price levels where visible resting liquidity is larger than nearby levels and deserves closer order-book review.
A sampled wall is not historical liquidity and can disappear before an order reaches the venue. It is not a predictive, hidden-liquidity, or liquidation level.
A HypeBasis calculation comparing sampled bid size with sampled ask size in the visible order book.
Use book skew to see whether the currently sampled book leans bid-heavy, ask-heavy, or roughly balanced before studying individual levels.
Book skew only describes the sampled visible book at fetch time. It does not predict price direction or reveal hidden liquidity.
A HypeBasis comparison of the strongest sampled bid wall and strongest sampled ask wall in the current visible book.
Use it to see whether the largest visible sampled wall is materially bigger on one side or roughly balanced across both sides.
It compares only currently sampled visible liquidity. It is not historical support, resistance, hidden liquidity, or a trade-direction signal.
A HypeBasis label that summarizes spread, depth, volume, and participation for quick scanning.
Use it to prioritize markets for deeper order-book review before opening a detail page.
The label is not a guarantee of execution quality. Treat it as a triage aid, not a venue promise.
A derived HypeBasis view that estimates approximate long and short vulnerability bands from public market context and explicit assumptions.
Use estimated bands to understand where leverage assumptions could become fragile before using the liquidation calculator with your own inputs.
Estimated bands are not observed liquidation clusters. Actual liquidation prices depend on account equity, margin mode, funding, PnL, and margin tiers.
A HypeBasis state that compares current sampled book skew with recent candle-pressure proxy direction.
Use it to spot when visible book imbalance and recent candle-volume pressure line up or disagree.
Flow tension uses public-data proxies. Divergence is not a reversal, continuation, or execution signal.
A HypeBasis market view that combines sampled depth, candle-pressure proxy, profile pocket, and visible levels.
Use it to inspect market structure quickly before drilling into funding history, calculators, or the venue order book.
It is descriptive only. It does not show hidden liquidity, liquidation clusters, entries, exits, or recommendations.
A Flow Lab V2 table that sorts latest close, sampled bid wall, sampled ask wall, and profile pocket into one inspectable public-data map.
Use the level map to compare where current price, visible depth, and recent close-volume proxies sit relative to each other before deeper review.
It is not an entry plan, observed liquidation map, or hidden-liquidity detector. Every level may update as fresh public data arrives.
A Flow Lab V2 label that says whether the public-data level map is compressed, spread out, one-sided, balanced, incomplete, or missing.
Use the label to scan the current public-data map before comparing funding, spread, depth, and candles.
The regime is a descriptive label only. It is not a prediction, directional signal, probability estimate, or instruction to trade.
A HypeBasis watchlist score for Coiling, Momentum, and Reversion/Dip conditions from public market data.
Scores organize research queues so traders can compare price, volume, funding, and trend context faster.
A setup score is not a signal, prediction, recommendation, or probability estimate.
A HypeBasis proxy that adds candle volume when a candle closes up and subtracts candle volume when a candle closes down.
Use it to summarize recent candle direction and volume pressure without manually scanning every bar in the visible window.
This is not trade-level cumulative volume delta. It does not know whether buyers or sellers initiated individual trades.
A Flow Lab comparison saved in this browser between the current candle-direction signed-volume proxy and the previous view.
Use it to see whether the public OHLCV pressure proxy rose or fell since your previous view without claiming trade-level order-flow data.
This is not real trade-level CVD. It uses candle direction multiplied by candle volume and cannot identify buyer-initiated or seller-initiated trades.
A future label reserved for trade-level rollups that can classify recent pressure from public trades rather than candle direction alone.
Use the label only when HypeBasis stores or receives public trade data granular enough to support a trade-pressure read.
Current Flow Map V1 uses a candle-pressure proxy instead. Do not call candle-derived pressure a trade-pressure proxy.
Saved external order-book data used to compare broader market depth while keeping Hyperliquid as the main venue.
BTC, ETH, and SOL liquidity can be deeper on large centralized venues, so reference data helps avoid overreading one Hyperliquid book.
Reference venues have their own access rules, product types, and rate limits. HypeBasis should show source, time, old-data labels, incomplete-data labels, and missing-data labels.
A state where HypeBasis cannot show fresh upstream data and either keeps the last good data briefly or marks the market data unavailable.
Use freshness to decide how much confidence to place in rankings, heatmaps, and calculators.
Do not treat stale, fallback, or delayed data as live trading context. Refresh and verify against the venue before acting.
Use the dictionary while scanning live funding, OI, volume, spreads, and setup context.
See the formulas behind Coiling, Momentum, and Reversion/Dip scores.
Compare positive and negative funding pressure with cost context.
Review liquidation, funding, slippage, oracle, liquidity, and protocol risks.