HYPERLIQUID · PERPETUAL FUTURES

PNUT

PNUT-USD perpetual · 24/7 trading on Hyperliquid

▸ Advanced metrics · M2M bundle

hyperliquid · perp-pnut · fresh · feed 6s old
24h sparkline · 60 pts▼ -0.18%
realized vol (ann.)
81.48%
max drawdown
1.51%
sharpe
-18.33
ulcer index
0.89%
RMS drawdown
pain index
0.82%
mean drawdown
mod. VaR 95%
0.00%
Cornish-Fisher
martin ratio
-1674.31
ret / ulcer
CDaR 95%
1.40%
cond. drawdown
gain/pain
0.96
Σgain / Σ|loss|
sterling
-1064.45
ret / CDaR
omega (θ=0)
0.96
upside/downside
roll spread
0.0 bps
implied (price-only)
bars used
2000
store
spread
—
24h Δ
-0.18%
flow lean
—
carry
longs_pay
10.95%
signalNEUTRALconfidence 35%
  • funding: longs pay — perp shorts get paid to wait
  • mark cheap vs HL oracle by 9.1bps — long bias
Same bundle via M2M API: /api/m2m/hl-pnut/bundle · venue execution: hyperliquid →
LIVEPOLL0SRCFRESH6.1s⏱--:--:-- UTC8NEXT8.0sUP0s--:--HIST0/30
▶ STREAMING·HYPERLIQUID·POLYMARKET·0 POLLS·SRC FRESH·UPTIME 0s·NEXT POLL 8.0s·CC0 OPEN DATA·HYPO.MARKETS·▶ STREAMING·HYPERLIQUID·POLYMARKET·0 POLLS·SRC FRESH·UPTIME 0s·NEXT POLL 8.0s·CC0 OPEN DATA·HYPO.MARKETS·
MARK · live
$0.044
24h Δ · live
-0.18%
24h vol · live
$0.7M
PNUT · live 24h price
n=25 · μ=0.0443 · σ=0.0003 · range [0.0438, 0.0450] · R²=0.451▼ FALLING -1.17%σ LOW 0.64%LAST 0.04380.04500.04470.04440.04410.0438μ = 0.0443max 0.0450min 0.0438dataMA(5)OLS R²=0.45μ lineμ ± σ bandmaxminlive endpoint
25 closes · last $0.04
Funding direction · live
Long fee 48.1%Short fee 51.9%SHORT FEE51.9%
Σ = 0.0%
Σ-sides total = 0.00% (100.00pp arb gap)
H(p) entropy = 0.999 / 1.00 bits (100%) · max uncertainty (~50/50)
Long fee
48.1%▬ +0.00pp
Short fee
51.9%▬ +0.00pp
1h funding 0.001250% · longs pay
Hourly contract volume · live
n=25 · Σ=15,466,213 · μ=618648.5 · σ=427044.7 · CV=0.69STEADY FLOWcumulative energy ↗ · 50% by h=120397,326794,6521,191,9771,589,303μ = 6186491,589,30350%h1h5h9h13h17h21h25#1 peak#2-3> μactivequietμ linecum energy
peak 1589303 contracts
Live numerics · pulse on poll
LIVE NUMERICS9 metrics·POLL 0
⏱snapshot age
6.1s
$mark $
$0.0439
$mid $
$0.0439
◉prev-day close
$0.0439
Δ24h Δ %
-0.182%
$24h vol $
$685.90k
◐open interest $
$262.56k
%funding (1h)
0.001250%
%funding (yr)
+10.95%/yr

§1 · 24h time-series

Close price · hourly
n=25 · μ=0.0443 · σ=0.0003 · range [0.0438, 0.0450] · R²=0.451▼ FALLING -1.17%σ LOW 0.64%LAST 0.04380.04500.04470.04440.04410.0438μ = 0.0443max 0.0450min 0.0438dataMA(5)OLS R²=0.45μ lineμ ± σ bandmaxmin
mark $0.0439 · 24h -0.18% · range $[0.0438, 0.0450]
OHLC candles · hourly
n=25 · up 10 · down 15 (40% up) · range [0.0436, 0.0456] · σ=0.0003 · CV=0.01 · bodyµ=37%BEARISH -0.23%CLOSE 0.0438 vs OPEN 0.0439 (-0.23%)&#9660; CLOSE 0.04380.04560.04510.04460.04410.0436μ close = 0.0443O0.044 H0.044 L0.044 C0.044 (+0.96%)O0.044 H0.044 L0.044 C0.044 (+0.96%)O0.044 H0.045 L0.044 C0.045 (+1.51%)O0.044 H0.045 L0.044 C0.045 (+1.51%)O0.045 H0.045 L0.044 C0.044 (-1.60%)O0.045 H0.045 L0.044 C0.044 (-1.60%)O0.044 H0.045 L0.044 C0.044 (-0.52%)O0.044 H0.045 L0.044 C0.044 (-0.52%)O0.044 H0.044 L0.044 C0.044 (-0.05%)O0.044 H0.044 L0.044 C0.044 (-0.05%)O0.044 H0.046 L0.044 C0.044 (+0.52%)O0.044 H0.046 L0.044 C0.044 (+0.52%)O0.044 H0.045 L0.044 C0.045 (+0.18%)O0.044 H0.045 L0.044 C0.045 (+0.18%)O0.044 H0.045 L0.044 C0.044 (-0.27%)O0.044 H0.045 L0.044 C0.044 (-0.27%)O0.044 H0.045 L0.044 C0.044 (-0.36%)O0.044 H0.045 L0.044 C0.044 (-0.36%)O0.044 H0.045 L0.044 C0.045 (+0.97%)O0.044 H0.045 L0.044 C0.045 (+0.97%)O0.045 H0.045 L0.044 C0.045 (-0.27%)O0.045 H0.045 L0.044 C0.045 (-0.27%)O0.045 H0.045 L0.044 C0.045 (-0.20%)O0.045 H0.045 L0.044 C0.045 (-0.20%)O0.044 H0.045 L0.044 C0.044 (-0.20%)O0.044 H0.045 L0.044 C0.044 (-0.20%)O0.044 H0.045 L0.044 C0.044 (-0.36%)O0.044 H0.045 L0.044 C0.044 (-0.36%)O0.044 H0.045 L0.044 C0.045 (+0.41%)O0.044 H0.045 L0.044 C0.045 (+0.41%)O0.044 H0.045 L0.044 C0.044 (-0.65%)O0.044 H0.045 L0.044 C0.044 (-0.65%)O0.044 H0.045 L0.044 C0.044 (+0.75%)O0.044 H0.045 L0.044 C0.044 (+0.75%)-1.6%O0.044 H0.044 L0.044 C0.044 (-1.64%)O0.044 H0.044 L0.044 C0.044 (-1.64%)O0.044 H0.044 L0.044 C0.044 (+0.37%)O0.044 H0.044 L0.044 C0.044 (+0.37%)O0.044 H0.045 L0.044 C0.044 (+0.50%)O0.044 H0.045 L0.044 C0.044 (+0.50%)O0.044 H0.045 L0.044 C0.044 (-0.52%)O0.044 H0.045 L0.044 C0.044 (-0.52%)O0.044 H0.045 L0.044 C0.044 (-0.11%)O0.044 H0.045 L0.044 C0.044 (-0.11%)O0.044 H0.044 L0.044 C0.044 (-0.32%)O0.044 H0.044 L0.044 C0.044 (-0.32%)O0.044 H0.044 L0.044 C0.044 (-0.18%)O0.044 H0.044 L0.044 C0.044 (-0.18%)O0.044 H0.044 L0.044 C0.044 (+0.00%)O0.044 H0.044 L0.044 C0.044 (+0.00%)#1#5#9#13#17#21#25up bar (C≥O)down bar (C<O)MA(5) closeμ closedoji (~no body)biggest body
25 bars
Hourly volume (base units)
n=25 · Σ=15,466,213 · μ=618648.5 · σ=427044.7 · CV=0.69STEADY FLOWcumulative energy &nearr; · 50% by h=120397,326794,6521,191,9771,589,303μ = 618649464,922 · 29.3% peak464,922 · 29.3% peak1,160,816.2 · 73.0% peak1,160,816.2 · 73.0% peak208,684.1 · 13.1% peak208,684.1 · 13.1% peak324,902.5 · 20.4% peak324,902.5 · 20.4% peak224,328.6 · 14.1% peak224,328.6 · 14.1% peak1,493,862.4 · 94.0% peak1,493,862.4 · 94.0% peak638,632.1 · 40.2% peak638,632.1 · 40.2% peak808,389.7 · 50.9% peak808,389.7 · 50.9% peak614,821.4 · 38.7% peak614,821.4 · 38.7% peak217,436.6 · 13.7% peak217,436.6 · 13.7% peak410,971.6 · 25.9% peak410,971.6 · 25.9% peak1,408,795.3 · 88.6% peak1,408,795.3 · 88.6% peak495,680.6 · 31.2% peak495,680.6 · 31.2% peak755,187.7 · 47.5% peak755,187.7 · 47.5% peak445,509.7 · 28.0% peak445,509.7 · 28.0% peak310,987 · 19.6% peak310,987 · 19.6% peak832,973.3 · 52.4% peak832,973.3 · 52.4% peak223,663.9 · 14.1% peak223,663.9 · 14.1% peak312,193.7 · 19.6% peak312,193.7 · 19.6% peak815,919.7 · 51.3% peak815,919.7 · 51.3% peak210,492.5 · 13.2% peak210,492.5 · 13.2% peak1,589,3031,589,303 · 100.0% peak1,589,303 · 100.0% peak732,754 · 46.1% peak732,754 · 46.1% peak764,622 · 48.1% peak764,622 · 48.1% peak363.7 · 0.0% peak363.7 · 0.0% peak50%#1#5#9#13#17#21#25#1 peak#2-3> μactivequietμ linecum energy
Σ vol 15466213 · peak 1589303 · CV 0.69

§2 · Returns distribution (log-returns)

Histogram of rₜ = ln(pₜ/pₜ₋₁)
n=24 · 12 bins · μ=-0.0005 · σ=0.0064 · skew=-0.26 (symmetric) · kurt=0.24 (mesokurtic)86420 2-146.36bpbin -146.36bp · n=2 · 25.0% peakbin -146.36bp · n=2 · 25.0% peak-121.76bp-97.15bp 1-72.55bpbin -72.55bp · n=1 · 12.5% peakbin -72.55bp · n=1 · 12.5% peak 2-47.95bpbin -47.95bp · n=2 · 25.0% peakbin -47.95bp · n=2 · 25.0% peak 8-23.35bpbin -23.35bp · n=8 · 100.0% peakbin -23.35bp · n=8 · 100.0% peak 31.26bpbin 1.26bp · n=3 · 37.5% peakbin 1.26bp · n=3 · 37.5% peak 125.86bpbin 25.86bp · n=1 · 12.5% peakbin 25.86bp · n=1 · 12.5% peak 450.46bpbin 50.46bp · n=4 · 50.0% peakbin 50.46bp · n=4 · 50.0% peak 175.07bpbin 75.07bp · n=1 · 12.5% peakbin 75.07bp · n=1 · 12.5% peak 199.67bpbin 99.67bp · n=1 · 12.5% peakbin 99.67bp · n=1 · 12.5% peak 1124.27bpbin 124.27bp · n=1 · 12.5% peakbin 124.27bp · n=1 · 12.5% peakμΔ < 0 · loss barsΔ ≈ 0 · flatΔ > 0 · gain barsN(μ,σ²) referenceμ line · ±σ band shaded
n=24 · positive 9 · negative 15
Q-Q plot · standardised rₜ vs N(0,1)
n=24 · skew=-0.18 · kurt=0.46 · near 20 / mid 4 / far 0 · OLS slope=1.00 intercept=-0.00MATCHES NORMAL · WELL-BEHAVEDUPPER TAIL NORMALLOWER TAIL NORMAL-3σ-3σ-2σ-2σ-1σ-1σ+0σ+0σ+1σ+1σ+2σ+2σ+3σ+3σsample ↓marginal: sample bars + theoretical N(0,1) curve →theoretical Φ⁻¹(p) →↑ sample z-quantile|Δ| < 0.3σ · on the line|Δ| < 1σ · moderate|Δ| ≥ 1σ · outliery = x refOLS fit

§3 · Spot quote

Mark price
$0.0439
Mid price
$0.0439
24h change
-0.18%
Mark–mid spread
2.28 bps
Prev-day close
$0.0439

§4 · Sample moments (prices)

Descriptive statistics · 5-number summary · shape diagnostics
SAMPLE MOMENTS · N=25APPROXIMATELY NORMAL · WELL-BEHAVED
μ MEAN0.0443$95% CI: [0.0442$, 0.0444$]
σ STD DEV0.0003$σ² = 0.001×10⁻⁴ · CV = 0.64%
med MEDIAN0.0443$Q₁ 0.0441$ · Q₃ 0.0445$
FIVE-NUMBER SUMMARY · BOX PLOTrange 0.0012$ · IQR 0.0004$ (1.349σ→0.0004$)
min 0.0438$Q₁ 0.0441$med 0.0443$Q₃ 0.0445$max 0.0450$μ
SKEWNESS · G₁0.174approximately symmetric
−3−10+1+3
EXCESS KURTOSIS · G₂-0.364mesokurtic · normal-like
−30+2+4+6
μ ↔ median≈ equal · symmetric|μ−med| / σ = 0.03
σ × 1.349 ↔ IQRconsistent with normalratio = 0.94
range ↔ σwide tails (range > 4σ)range / σ = 4.22
μ = mean · σ = standard deviation · CV = coefficient of variation. Skew (G₁): >0 right-skewed. Kurt (G₂, excess): >0 leptokurtic. 95% CI = μ ± 1.96·SE.

§5 · Returns analytics (log-returns)

Risk-adjusted performance · log-returns
RETURNS · RISK-ADJUSTEDUNPROFITABLE · SR=-6.88
μᵣ MEAN / h-0.049131%drift is negative per h · |μ|/σ = 0.073
σᵣ STD / h0.668751%σ²ᵣ = 0.447×10⁻⁴ · CV = 13.61×
σ ANNUALISED62.59%/yrscaled by √8760 (hourly→yearly) · 0.669%/h base
RISK-ADJUSTED PERFORMANCEhigher = better edge per unit risk
SHARPE (annualised)-6.88negative edge
-2-10+1+2+3+4
SORTINO (annualised)-7.39downside drag
-2-10+1+2+3+4
CALMAR (return / max-DD)-100.00drawdown overwhelms returns
-20+2+4+6
RETURN-DISTRIBUTION SHAPE|skew| < 0.5 ≈ symmetric · |kurt| < 1 ≈ mesokurtic
SKEWNESS · G₁-0.20approximately symmetric
-3-10+1+3
EXCESS KURTOSIS · G₂0.87mesokurtic · normal-like tails
-30+2+4+6
SORTINO vs SHARPEdownside vol < total vol · favourableSoR / SR = 1.07
CALMAR · DD CONTROLdrawdown > returns · adverseCR = -100.00
EXPECTED EDGE-430.39%/yr driftμ × 8760 = annualised expectation
rₜ = ln(pₜ/pₜ₋₁). σ × √8760 = annualised. Sharpe = μ/σ scaled; Sortino uses downside-only vol; Calmar = annual return / max drawdown.

§6 · Risk metrics

Tail risk + drawdown · downside diagnostics
TAIL & DRAWDOWN RISKHIGH · 95% VaR 1.29%
VaR₉₅ (h)1.288%5% prob of larger adverse h move
VaR₉₉ (h)1.541%1% prob · extreme-tail threshold
ES₉₅ (CVaR)1.487%expected loss given 5% tail event
MAX DRAWDOWN2.67%16h from peak to trough
TAIL-RISK LADDER (h losses)larger negative = worse · markers show severity
0 · no lossVaR₉₅−1.288%VaR₉₉−1.541%ES₉₅−1.487%worst tail ←→ zero loss
MAX DRAWDOWN PROFILEmoderate drawdown · 16h duration
PEAK4.50$
−2.67% drawdown over 16h
4.38$TROUGH
ES / VaR · TAIL THICKNESSmild tail heaviness|ES₉₅| / |VaR₉₅| = 1.15× (normal ≈ 1.25)
VaR₉₉ / VaR₉₅ · CONCENTRATIONuniform tailratio = 1.20× (normal ≈ 1.41)
DRAWDOWN · CAPITAL DURATIONmoderate drawdownrecovery needed: +2.74% (compounding)
VaR = quantile loss · ES (CVaR) = expected loss conditional on tail · DD = peak-to-trough decline. Under normality ES₉₅/VaR₉₅ ≈ 1.25; ratio > 1.5 ⇒ fat-tail regime.

§7 · Technicals

RSI(14)
43.5 · neutral
Bollinger %B
0.132 · within band
Bollinger upper
$0.0448
Bollinger MA
$0.0442
Bollinger lower
$0.0437

§8 · Time-series structure

Regime & autocorrelation diagnostics
TIME-SERIES STRUCTUREREGIME: MEAN-REVERTING · ρ(1) -0.44 + ADF rejected
ρ(1) AUTOCORR-0.443negative · reversal
ρ(2) AUTOCORR-0.046lag-2 not significant
H · HURST EXPONENT0.558persistent
OLS TREND · t-STAT-4.349significant @ α=0.05
HURST EXPONENT [0, 1]persistent · H = 0.558
H = 0.558PERSISTENT
0
anti-persistent0.45
mean-reverting0.5
random walk0.55
persistent1
strongly trending
AUTOCORRELATION FUNCTION · ρ(k) for k=1..51 SIGNIFICANT LAG · k=1
k=1 ★-0.443k=2-0.046k=3-0.115k=4+0.061k=5+0.2680+1−1+0.41−0.41+ momentum (ρ > +0.41)− reversal (ρ < −0.41)noise (within band)±2/√n threshold
OLS TREND · t-STAT · [-5, +5]SIGNIFICANT @ 1% (|t|=4.35)
−5 reject−1.960 retain H₀+1.96+5 reject
REGIME CLASSIFICATIONMEAN-REVERTING · ρ(1) -0.44 + ADF rejectedfrom Hurst + ρ(1) joint diagnosis
PREDICTABILITY · score 0.56high · clear structure|ρ(1)| + 2·|H − 0.5| heuristic
TREND SIGNIFICANCESIGNIFICANT @ 1% (|t|=4.35)α=0.05 critical |t|=1.96 · α=0.01 |t|=2.58
ρ(k) = lag-k sample autocorrelation · H = R/S Hurst exponent · t = OLS-trend t-statistic. Significance bands at ±2/√n approximate the 95% white-noise envelope. α=0.05 critical |t|=1.96; α=0.01 |t|=2.58.

§9 · Microstructure

24h volume (USD)
$685.90k
Open interest (USD)
$262.56k
Vol / OI (turnover)
2.61x
1h funding
0.001250%
Funding (annualised)
+10.95%/yr

§10 · Position sizing

Continuous Kelly (μ/σ²)
-10.000× leverage · optimal log-utility leverage
Half-Kelly
-5.000× · industry-standard conservative
Quarter-Kelly
-2.500×

§11 · Hourly return heatmap

24-hour signed Δln-r grid · green = up · red = down
HOURLY RETURN HEATMAP · n=24 bars · best 1.37% · worst -1.59% · typical |Δ| 0.50%BEARISH SESSION -1.18%BEST+1.37%12hWORST-1.59%04hTYPICAL |Δ|0.50%mean absoluteCUMULATIVE-1.18%Σ signed ΔSTREAK↘ 5down-runASIA · 00-08 UTCμ -0.09% · Σ -0.72%EUROPE · 08-16 UTCμ -0.10% · Σ -0.82%US · 16-24 UTCμ +0.05% · Σ +0.36%CUMULATIVE Δ PATH · final -1.18%+1.37%-1.34%1.37% · 12h1.37% · 12h1.37%12h★ BEST-1.39% · 13h-1.39% · 13h-1.39%13h-0.34% · 14h-0.34% · 14h-0.34%14h0.05% · 15h0.05% · 15h0.05%15h0.50% · 16h0.50% · 16h0.50%16h0.18% · 17h0.18% · 17h0.18%17h-0.34% · 18h-0.34% · 18h-0.34%18h-0.38% · 19h-0.38% · 19h-0.38%19h1.06% · 20h1.06% · 20h1.06%20h-0.25% · 21h-0.25% · 21h-0.25%21h-0.07% · 22h-0.07% · 22h-0.07%22h-0.34% · 23h-0.34% · 23h-0.34%23h-0.25% · 00h-0.25% · 00h-0.25%00h0.54% · 01h0.54% · 01h0.54%01h-0.72% · 02h-0.72% · 02h-0.72%02h0.63% · 03h0.63% · 03h0.63%03h-1.59% · 04h-1.59% · 04h-1.59%04h▼ WORST0.50% · 05h0.50% · 05h0.50%05h0.57% · 06h0.57% · 06h0.57%06h-0.41% · 07h-0.41% · 07h-0.41%07h-0.11% · 08h-0.11% · 08h-0.11%08h-0.18% · 09h-0.18% · 09h-0.18%09h-0.11% · 10h-0.11% · 10h-0.11%10h-0.09% · 11h-0.09% · 11h-0.09%11hTIME PATTERNUS-led (+0.36%)RUNSup max 3 · down max 5BREADTH38% up · 63% down
9 up bars · 15 down · best 1.37% · worst -1.59% · typical |Δ| 0.498%

§12 · Equity curve & underwater drawdown

Cumulative compounded return + running peak-to-trough
EQUITY & DRAWDOWN ANALYSIS · n=25 barsLOSS WITH MODERATE DD (-1.22%)FINAL-1.22%MAX DD-2.71%RECOVERYONGOING · 23 barsMAX RUN-UP+1.37%UNDERWATER23/25 (92%)STREAK↘ 5EQUITY CURVE · end 0.9878 · peak 1.0137 · range [0.9862, 1.0137]1.01370.9862break-even = 1★ PEAK 1.0137UNDERWATER DRAWDOWN · max -2.71% · moderate0%-2.71%▼ TROUGH -2.71%TOP DRAWDOWN PERIODS · 1 total#1 -2.71%bar 3-25 · 23 bars · ONGOINGDD SEVERITYmoderate (max -2.71%)RECOVERYongoing · 23 barsTIME UNDER WATER92% of session · 23/25 bars
final equity 0.9878 (-1.22%) · max DD -2.71% · time-under-water 23/25 bars

§13 · Rolling-window statistics (w = 6 bars)

Rolling annualised Sharpe ratio · green positive · red negative
n=19 · +6 / −13 (32% positive) · μ=-6.90 · σ=19.13UNPROFITABLE STRATEGYLAST -16.29 (-0.49σ vs μ)40.6620.330.00-20.33-40.66μ = -6.906.156.15-32.06-32.06-14.80-14.8030.3930.3920.9820.985.825.82-8.85-8.85-6.43-6.4319.4519.45-40.66-40.66-5.99-5.99-32.51-32.51-15.57-15.57-1.14-1.14-17.71-17.71-7.46-7.46-24.39-24.399.879.87-16.29-16.29v > 0 · positivev < 0 · negativeμ mean lineμ ± σ bandlatest bar (outlined)
latest -16.286 · range [-40.66, 30.39] · μ -6.905 · positive Sharpe = excess-return-per-risk earned by buying-and-holding through this window
Rolling annualised volatility (%)
n=19 · μ=59.4776 · σ=18.8284 · range [30.6217, 86.8063] · R²=0.011▼ FALLING -64.16%σ EXTREME 31.66%LAST 30.621786.806372.760158.714044.667830.6217μ = 59.4776max 86.8063min 30.6217dataMA(3)OLS R²=0.01μ lineμ ± σ bandmaxmin
latest 30.62% · range [30.62%, 86.81%] · μ 59.48% · σ̂ scaled to annualised (×√8760)
Rolling lag-1 autocorrelation ρ(1)
n=19 · +3 / −16 (16% positive) · μ=-0.311 · σ=0.296MEAN-REVERSIONLAST -0.341 (-0.10σ vs μ)0.7580.3790.000-0.379-0.758μ = -0.311-0.303-0.3030.2540.2540.2880.288-0.169-0.169-0.364-0.364-0.398-0.398-0.312-0.312-0.354-0.354-0.115-0.115-0.528-0.528-0.650-0.650-0.564-0.564-0.758-0.758-0.552-0.552-0.552-0.552-0.485-0.485-0.198-0.1980.1840.184-0.341-0.341v > 0 · positivev < 0 · negativeμ mean lineμ ± σ bandlatest bar (outlined)
latest -0.341 · |ρ| > 0.3 ⇒ regime with persistence (ρ > 0) or reversal (ρ < 0) · |ρ| ≤ 0.1 = consistent with random walk

§14 · Hypothesis tests (α = 0.05)

Formal inference at 5% significance
2 of 6 REJECT · mixed evidence2 reject·4 pass·α = 0.05
𝒩

Jarque-Bera

FAIL TO REJECTns

H₀: Δln-r ~ Normal(μ, σ²)

STATISTIC
0.9009
p-VALUE (log scale)
0.6373
α
10⁻⁴10⁻³10⁻²10⁻¹1
p ≥ α · null retainednormality not rejected
ρ

Ljung-Box(h=5)

FAIL TO REJECTns

H₀: No serial autocorrelation up to lag 5

STATISTIC
8.2527
p-VALUE (log scale)
0.1416
α
10⁻⁴10⁻³10⁻²10⁻¹1
p ≥ α · null retainedconsistent with white noise
Ψ

Dickey-Fuller (τ_μ)

FAIL TO REJECTns

H₀: p has a unit root (non-stationary)

STATISTIC
-2.6276
p-VALUE (log scale)
0.0901
α
10⁻⁴10⁻³10⁻²10⁻¹1
p ≥ α · null retainedrandom-walk behaviour (crit ≈ -2.86)
±

Wald-Wolfowitz runs

FAIL TO REJECTns

H₀: Sign sequence of Δ is random

STATISTIC
-0.1117
p-VALUE (log scale)
0.9111
α
10⁻⁴10⁻³10⁻²10⁻¹1
p ≥ α · null retainedsigns appear random (12 runs)
χ

KPSS (μ stationarity)

REJECT H₀*

H₀: p IS level-stationary

STATISTIC
0.6806
p-VALUE (log scale)
0.0153
α
10⁻⁴10⁻³10⁻²10⁻¹1
p < α · rejection zonenon-stationary (crit 0.463)
χ

Variance ratio q=3

REJECT H₀*

H₀: Δln-r is a random walk · VR = 1

STATISTIC
-2.1669
p-VALUE (log scale)
0.0302
α
10⁻⁴10⁻³10⁻²10⁻¹1
p < α · rejection zoneVR 0.341 → mean-reverting
Each row states an explicit null H₀, the test statistic, an approximated p-value, and the decision. REJECT means evidence against H₀. KPSS complements ADF (rejecting both ⇒ ambiguous; rejecting one ⇒ clean verdict).

§15 · Spectral analysis (DFT periodogram)

Power spectrum of Δln-r · ‖X̂(k)‖²/n
n=12 bins · noise floor μ=4.31e-5 · top T=2.18h (25.5%) · top-3 cover 64.4%2 SIGNIFICANT CYCLEScumulative energy ↗ (2 bins above 2× noise)1.3e-49.9e-56.6e-53.3e-50.0e+0μ noise floor2× noise (significance)period 24.0 · power 3.11e-6 · 0.6% energyperiod 24.0 · power 3.11e-6 · 0.6% energyperiod 12.0 · power 5.17e-6 · 1.0% energyperiod 12.0 · power 5.17e-6 · 1.0% energyperiod 8.0 · power 9.26e-7 · 0.2% energyperiod 8.0 · power 9.26e-7 · 0.2% energyperiod 6.0 · power 6.73e-6 · 1.3% energyperiod 6.0 · power 6.73e-6 · 1.3% energyperiod 4.8 · power 1.22e-4 · 23.5% energyperiod 4.8 · power 1.22e-4 · 23.5% energyperiod 4.0 · power 1.64e-5 · 3.2% energyperiod 4.0 · power 1.64e-5 · 3.2% energyperiod 3.4 · power 3.31e-5 · 6.4% energyperiod 3.4 · power 3.31e-5 · 6.4% energyperiod 3.0 · power 6.61e-5 · 12.8% energyperiod 3.0 · power 6.61e-5 · 12.8% energyperiod 2.7 · power 4.74e-5 · 9.2% energyperiod 2.7 · power 4.74e-5 · 9.2% energyperiod 2.4 · power 7.95e-5 · 15.4% energyperiod 2.4 · power 7.95e-5 · 15.4% energyperiod 2.2 · power 1.32e-4 · 25.5% energyperiod 2.2 · power 1.32e-4 · 25.5% energyperiod 2.0 · power 5.02e-6 · 1.0% energyperiod 2.0 · power 5.02e-6 · 1.0% energy50% by T=2.7h#1 dominantT=2.18h#2T=4.80h#3T=2.40hT=2hT=3hT=4hT=6hT=8hT=12hT=16hT=24h← shorter cycle (high freq · Nyquist=½) · period T (bars per cycle) · longer cycle (low freq · 1/n) →#1 dominant#2 peak#3 peak> 2× noisenoiseμ floor2μ sig.cum energy
dominant period ≈ 2.18h (freq 0.458) · concentrates 25.5% of total energy · Σ|X̂|²/n = 5.168e-4

▸ Depth section using sovereign-store price series (5000 bars · effective 5258724 bars/year) — annualisation reflects native polling cadence, not upstream timeframes.

§16 · NOSTRADAMUS continuous quant — perp leverage & bootstrap MC

Continuous-price extension of the prediction-market quant module. Kelly growth on observed returns (Merton μ/σ² parametric vs argmax empirical), Monte-Carlo equity fan bootstrapped from the historical return distribution at quarter-Kelly leverage, and an annualized return decomposition. Sweep parameters in the simulator.

§17 · Continuous Kelly

Continuous-Kelly growth · g(f) = E[ln(1 + f·r)]
NO LONG EDGE · μ -0.000% per barparametric μ/σ² short edge (μ<0) · μ -0.000% · σ 0.04%
μ per barmean
-0.000%
σ per barvol
0.04%
Empirical f★argmax g(f)
0.00×
from observed distribution
Parametric f★μ/σ²
-13.23×
Merton continuous-time
Half-Kelly½ f★
0.00×
~⅔ of full growth, half the variance
Quarter-Kelly¼ f★
0.00×
industry default — survives model error
-0.00%0.02%0.05%0.07%0.10%0.0×1.6×3.2×4.8×6.4×8.0×leverage fraction fexpected log-growth per bar
g(f) empiricalf★ argmaxparametric f★
Maximum expected log-growth from leveraging the historical return distribution. Empirical f★ argmaxes the sample expectation; parametric f★ = μ/σ² is Merton's continuous-time optimum.

§18 · MC equity fan

Bootstrapped equity fan at 0.10× leverage
Median CAGR/bar -0.000% · annualized Sharpe -12.99400 paths × 720 bars · leverage 0.10× · bootstrap from 4999 observed returns
Sharpe / barμ/σ
-0.006
annualized -12.99
μ per barafter L
-0.000%
σ per barafter L
0.00%
VaR 95%5%
0.00%
per-bar worst-case
CVaR 95%ES
0.01%
mean tail loss
Max DD (median)MDD
-0.0%
0.95×0.97×0.99×1.01×1.03×1.05×0120240360480600720startbar #equity multiple
median25/75 band5/95 band
Median path with 25/75 and 5/95 percentile bands across 400 simulated careers. Bars resample with replacement from the observed return distribution — preserves fat tails the parametric model misses.

§19 · Annualized breakdown

Annualized return components
APR -1000% · APY -100% · Sharpe -12.80σ ann 97% · Sortino -10.70 · n 4999 · ⚠ capped (n=4999 too small to support 8760-bar projection)
-1536%-1206%-875%-545%-214%116%-1000.0%APR (simple)-100.0%APY (compound)96.8%Ann. vol σ-1280.4%Sharpe (ann)-1069.6%Sortino (ann)
Simple APR vs compounded APY · annualized volatility · risk-adjusted Sharpe and Sortino. All scaled by √(periods/yr).

§20 · GARCH(1,1) volatility band

GARCH(1,1) · conditional vol envelope (±2σ)
GARCH persistence α+β = 0.980· σ̂ₜ = 1.000% · long-run σ = 2.236%
0.0420.0430.0440.0450.0460.047t-4999t-4166t-3333t-2500t-1666t-833t-0

Persistence near 1 ⇒ vol clusters strongly (slow mean reversion). Long-run σ is the unconditional target the conditional vol orbits. The ±2σ band reflects time-varying scale, unlike a flat-vol band.

Time-varying volatility band fitted to the price series. Persistence α+β > 0.98 means vol shocks decay slowly — recent moves stay relevant.

§∞ · Provenance & attestation

Upstream
api.hyperliquid.xyz
Snapshot fetched
2026-06-14 11:00:50 UTC
Snapshot age
6.1s
History points
25 hourly closes
Page rendered
2026-06-14 11:00:57 UTC
Storage policy
no persistence — fetched on every request
SHA-256 attestation
def962d0ca065dd75992d0b5537a478ec21fc23377786da25b32b74138ecc68e · deterministic hash of the source snapshot — proves this page was rendered from this exact data
Open data licence
CC0 / public domain · free to mirror, syndicate, analyse

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Also see: /arb opportunities · RSS feed

Market depth

▸ live order book · Hyperliquid perp
Depth within 1bp
$0
bid $0 · ask $0
Depth within 5bp
$0
bid $0 · ask $0
Depth within 10bp
$4.48K
bid $2.07K · ask $2.41K
Depth within 50bp
$24.64K
bid $9.11K · ask $15.52K
Mid price
0.043905
(best bid + best ask) / 2
Spread
11.4bp
(bestAsk − bestBid) / mid
Imbalance (whole book)
+0.195
bid-heavy
Imbalance (top-5)
+0.040
bid-heavy top-of-book

Slippage scenarios

▸ live book walk · Hyperliquid perp

Simulating a market order at three notionals against the live book. Slippage = avg execution price vs. mid, in basis points. Worst fill = price of the deepest level touched. Live JSON: /api/asset/hl-pnut/slippage?size=10000&side=buy

SideNotionalAvg fillSlippageWorst fillLevelsStatus
BUY$1.00K0.0439367.01bp0.0439402FILLED
BUY$10.00K0.04397716.42bp0.0440208FILLED
BUY$100.00K0.04412449.87bp0.04443020PARTIAL
SELL$1.00K0.0438805.69bp0.0438801FILLED
SELL$10.00K0.04379125.98bp0.04364010FILLED
SELL$100.00K0.043373121.27bp0.04291020PARTIAL

Funding carry

▸ LONGS PAY · shorts receive
Hourly funding
+1.250e-5
0.00125% / hr
Annualised APR
10.958%
hourly · 24 · 365.25
Long: days to 1% carry
33.3d
longs pay
Short: days to 1% carry
33.3d
shorts receive
SideDirectionAnnualised carryDays → 1%Days → 10%
LONGPAY-10.958%33.3d333.3d
SHORTRECEIVE10.958%33.3d333.3d

/api/asset/hl-pnut/carry · same metrics, JSON

Volume profile

▸ real volume · Hyperliquid candlesstep $ 1 · 25 records
Price binBarsVolumeDistribution
$0.000000–$1.0000★25$15.47M

★ POC = Point of Control (highest-volume bin). Live JSON: /api/asset/hl-pnut/volprofile?priceStep=1

Order flow

▸ ASK-LEAN · -0.181 · Hyperliquid candles
Bars (buy / sell)
9 / 15
1 unclassified
Buy weight
$6.14M
real volume
Sell weight
$8.86M
real volume
Net delta
$2.72M
sellers net
Imbalance
-18.12%
(buy − sell) / (buy + sell)
Toxicity (VPIN)
18.1%
two-sided / balanced
Impact (|Δp|/vol)
—
needs real volume

Sparkline = cumulative delta over the 25-record window./api/asset/hl-pnut/flow?rollingWindow=30

Cascade clusters

▸ DOWN · 6 found · deepest 1.71% · Hyperliquid candles

Price-only proxy for forced-unwind clusters. No exchange liquidation feed is wired — read each row as a candidate event, not a confirmed liquidation.

#WindowDurationPeak → TroughDrawdownBars
#12026-06-13 13:00:00Z2.0h0.044970→0.0442001.712%3
#22026-06-14 04:00:00Z2.0h0.044510→0.0437701.663%3
#32026-06-13 23:00:00Z1.0h0.044670→0.0442700.895%2

/api/asset/hl-pnut/cascades?windowMs=10800000&minDrawdownPct=0.005 · full list + parameters in JSON

Risk metrics

▸ sovereign store · 5,000 barsperiods/year ≈ 5.26M
Realized vol (annualised)
96.79%
σ per bar = 0.000422
Mean return (annualised)
-1239.29%
μ per bar = -0.000002
Sharpe (rf=0)
-12.80
annualised; risk-free assumed zero
Max drawdown
2.94%
peak 0.04 → trough 0.04 over 1249 bars

/api/asset/hl-pnut/risk · same metrics, JSON