Live on-chain perp data: open interest, volume, funding and cross-exchange spreads, plus positioning from the most profitable wallets. Refreshes every 60 seconds.
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🤖 AI Market Read
Qwen synthesises every panel on this page into a live narrative. Regenerated every 4 hours from fresh data.
🧭What's happening right nowLive HL + Bybit data Qwen language model
Generating analysis…
⚔️ Exchange Duel
Total perp open interest and 24h volume, all markets. Hyperliquid is fully on-chain; Bybit data is exchange-reported. Share bars show each venue's slice of the combined total.
⬡Hyperliquid
Total Open Interest
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24h Volume
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◆Bybit
Total Open Interest
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24h Volume
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🔀 Cross-Exchange Divergence
Same asset, two venues. Large price spreads or opposing funding rates highlight where the market disagrees — the raw material of arbitrage. Rows glow when the spread exceeds 10 bps.
Asset
HL Price
Bybit Price
Spread
HL Funding (1h)
Bybit Funding (8h)
HL OI
Bybit OI
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📈 Top Markets
Most-traded perpetuals on each venue, ranked by 24h volume. Funding: positive = longs pay shorts; shown per funding interval (HL every 1h, Bybit typically every 8h).
⬡ HYPERLIQUID
Asset
Price
24h
Funding /1h
OI
24h Vol
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◆ BYBIT PERPS
Symbol
Price
24h
Funding /8h
OI
24h Vol
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🧠 Smart Money Positioning
Aggregated long/short bias across the current open positions of the 15 highest all-time PnL wallets. Counts are positions, not conviction — a whale hedge elsewhere can flip the story.
Analysing wallet positions…
📊 Volume Over Time
Daily trading volume per venue, charted over 7, 30, 90 or 180 days. Solid ground truth for who's winning the volume war.
HyperliquidBybit
🏆 All-Time Leaderboard
The 15 wallets with the highest realised all-time PnL on Hyperliquid. Click a name for the full stats page. ROI is cumulative since wallet inception.
#
Trader
Account Value
All-Time PnL
30d PnL
7d PnL
24h PnL
Cumulative ROI
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📖 Reading The Data
Quick glossary for the metrics above.
Open Interest (OI)
Total value of open perp contracts that haven't been settled. Rising OI with rising price = new money flowing in; falling OI = positions unwinding.
Funding Rate
Periodic payment keeping perp prices anchored to spot. Positive = longs pay shorts (market leaning long). Extreme funding often precedes squeezes. Hyperliquid charges hourly; Bybit typically every 8 hours.
Spread (Divergence)
Price difference for the same asset across venues, in basis points (1 bp = 0.01%). Persistent spreads suggest liquidity fragmentation or venue-specific pressure.
Smart Money
The wallets ranked highest by all-time realised PnL on Hyperliquid's public leaderboard. Their positions are on-chain and verifiable — but may be hedged elsewhere.
Notional
Position size in USD terms (size × price), before leverage adjustments. A $1M notional at 10x leverage only requires $100K of margin.
Fear & Greed Index
Composite crypto sentiment gauge (0 = Extreme Fear, 100 = Extreme Greed) based on volatility, momentum, social and dominance data. A contrarian favourite at the extremes.