Over 107 days of 20-level order-book snapshots, xyz:SPCX quoted a median spread of 0.73 bps in US regular hours with $4.4M resting within 25 bps of mid. A $25k market order paid about 0.97 bps in regular hours and 1.43 bps on weekends, when depth within 25 bps fell to $1.5M. Taker fee is 0.90 bps with growth mode on; funding averaged +2.34% annualised over the last 30 days.
spread · rth
0.73 bps
median · p90 1.92 bps
depth ±25bps · rth
$4.4M
median, both sides
$25k slip · rth
0.97 bps
fills 100%
$25k slip · wknd
1.43 bps
fills 100%
taker fee
0.90 bps
fee scale 1.0 · growth mode on
funding apr · 30d
+2.34%
longs pay when positive · 7d +7.92%
vol 24h · 30d avg
$65.7M
notional
open interest
$115.6M
both sides · 2026-10-02
by sessionNew York time · medians over 107 days
session
snaps
spread
p90
top
depth ±10
depth ±25
depth ±50
$5k
$25k
$100k
$100k fills
$250k fills
US regular 9:30–16:00
4,905
0.73
1.92
$43k
$2.7M
$4.4M
$4.4M
0.65
0.97
1.61
100%
100%
US extended 4–9:30, 16–20
7,210
0.71
1.39
$21k
$1.9M
$3.0M
$3.0M
0.60
1.11
1.95
100%
100%
Overnight 20–4
4,919
0.71
1.41
$15k
$1.8M
$2.8M
$2.8M
0.68
1.23
2.07
100%
100%
Weekend / holiday
9,115
0.71
1.25
$10k
$1.0M
$1.5M
$1.5M
0.77
1.43
2.56
100%
99%
bps unless stated · RTH 9:30–16:00 · extended 4:00–9:30 and 16:00–20:00 · overnight 20:00–4:00 on weekdays · weekend runs Friday 20:00 to Monday 4:00 and includes NYSE holidays · slip = mean of the buy and sell side of a market order walking the visible 20 levels · fills = share of snapshots the size fits inside those levels · "—" = not fillable in the median snapshot
trade flowtaker side · 24 h to 2026-10-02 00:41 UTC · 30 d = last 30 complete UTC days · all markets
alert melarge orders in SPCX, $50k or more→ sign infree · by email · when the data is rebuilt
taker buy · 24h
$21.1M
30d $989.6M
taker sell · 24h
$20.2M
30d $1.01B
imbalance · 24h
+2.1%
of $41.3M · 30d -1.2% of $2.00B
trades · 24h
38,169
117 large orders · 30d 1,571,834
takers · 24h
1,064
346 makers · 1,244 addresses
takers · 30d
12,182
12,648 addresses incl. makers
top-10 share · 30d
41%
of $2.00B by 12,182 takers · 18 make half
concentration · 30d
0.029
Herfindahl over takers · 1 = one taker
daily net taker flow
USD per UTC day · taker buy − taker sell · up = net buying, down = net selling · 108 complete days · hover a day for its value · today (2026-10-02) is still open and not drawn: +$943 so far
by session · 30 d
session
taker buy
taker sell
net
imbalance
trades
share of notional
US regular 9:30–16:00
$686.2M
$692.3M
−$6.1M
-0.4%
1,006,297
69%
US extended 4–9:30, 16–20
$199.7M
$209.3M
−$9.6M
-2.3%
312,669
20%
Overnight 20–4
$53.6M
$62.8M
−$9.1M
-7.9%
111,032
6%
Weekend / holiday
$50.1M
$49.0M
+$1.1M
+1.1%
141,836
5%
sessions in New York time as in the liquidity table above · share = the session's taker notional over all four, $2.00B in 30 days
hour of week · taker notional
New York time · 30 days summed per hour · brighter = more volume · log scale between the 5th and 95th percentile · 168 of 168 hours with trades · hover a cell for USD and trades
large orders: fills grouped by transaction hash, taker and side, $50k or more per order; fills without a hash are not grouped · share = the address's taker notional over all $2.00B of 30-day taker notional (1,571,834 trades, 12,182 takers) · addresses are public on-chain data and link to the Hyperliquid explorer; an address can be a subaccount, vault, market maker or bot and is not labelled · taker notional is volume, not a change in open interest · rebuilt nightly and at 09:05 ET, not a live tape · raw: /api/xyz/flow/SPCX.json · definitions in methodology
alert meSPCX funding above or below a level I set→ sign infree · by email · when the data is rebuilt
last settlement
+10.30%
+0.1176 bps/h · 10-01 21:00 ET
next · estimate
+8.85%
+0.101 bps/h · as of 10-01 22:15 ET
apr · 24h
+10.62%
24 of 24 hours observed
apr · 7d
+7.92%
168 of 168 hours observed
apr · 30d
+2.34%
596 of 720 hours · stdev 11.65%
paid by a long · 30d
15.92 bps
of notional, over 596 observed hours
hours above neutral · 30d
18%
at 46% · below 37% · negative 29%
range · 30d
+61.72%
highest hour · lowest -72.71%
daily funding apr
mean of the observed hourly rates per UTC day, annualised · up = longs paid, down = shorts paid · dashed = neutral 5.48% · 110 complete days · hover a day · today (2026-10-02) is still open and not drawn: +12.12% over 2 h so far
hour of week · mean funding apr
New York time · whole archive · the hour a settlement covers · 168 of 168 hours with data · hover a cell for its mean and n
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Mon
Tue
Wed
Thu
Fri
Sat
Sun
shorts paylongs pay · full shade = ±15.59% APR or more · empty = no settlements
funding by session
session
apr · 30d
hours · 30d
above neutral · 30d
apr · all
hours · all
above neutral · all
US regular 9:30–16:00
+2.07%
99
25%
+7.82%
423
41%
US extended 4–9:30, 16–20
+1.62%
167
20%
+6.08%
708
40%
Overnight 20–4
+0.20%
114
16%
+4.00%
466
33%
Weekend / holiday
+4.15%
216
13%
+3.75%
886
25%
mean of the hourly rates settled in each session, annualised · 30d = the 720 hours ending at the last settlement, all = since 2026-06-14 · above neutral = share of those hours settled above 5.48% APR
largest settlements · 30 d
settled · ET
session
rate bps/h
APR
09-07 12:0009-07 16:00 UTC
weekend / holiday
-0.83
-72.71%
09-05 21:0009-06 01:00 UTC
weekend / holiday
+0.7046
+61.72%
09-07 14:0009-07 18:00 UTC
weekend / holiday
+0.5608
+49.12%
09-27 18:0009-27 22:00 UTC
weekend / holiday
+0.5444
+47.69%
09-06 13:0009-06 17:00 UTC
weekend / holiday
+0.5211
+45.65%
09-06 22:0009-07 02:00 UTC
weekend / holiday
-0.4929
-43.18%
09-06 20:0009-07 00:00 UTC
weekend / holiday
-0.4321
-37.85%
09-06 14:0009-06 18:00 UTC
weekend / holiday
+0.4203
+36.82%
09-13 19:0009-13 23:00 UTC
weekend / holiday
-0.4157
-36.41%
09-05 06:0009-05 10:00 UTC
weekend / holiday
+0.4133
+36.21%
positive = longs pay shorts · the neutral rate is the deployer's carry (base interest 0.01% per 8 h × funding multiplier 0.5), not crowd positioning · every mean is over observed hours; collector gaps are not filled · rebuilt nightly and at 09:05 ET, not live · raw: /api/xyz/funding/SPCX.json · definitions in methodology
slippage curve
median bps over mid vs order size · a line ends where the size stops filling in the median snapshot
hour of week
New York time · median per cell over 107 days · brighter = better · the breathing cell is now
weekly · spread
median bps, all sessions
weekly · depth ±25 bps
median USD both sides, all sessions
cost calculator
per round trip = 2 × median slippage + 2 × taker fee · funding uses the 30-day mean hourly rate, annualised, charged for a position held all day · slippage between tested sizes is interpolated on a log scale · ignores maker rebates, impact that persists after your fill, and fee tiers
history3 market changes to xyz:SPCX observed in the changelog · newest first
2026-06-18 00:05OI cap$500.0M↑$750.0MoiCap observed changing from $500M to $750M
2026-06-16 21:05margin table10→20marginTableId observed changing from 10 to 20
2026-06-16 21:05max leverage10×↑20×maxLeverage observed changing from 10 to 20
observed = first collector snapshot showing the new value, UTC; the change happened between the previous snapshot and that one · announced = the market appeared with trading disabled; listed = trading enabled; trading halt = off and back within 48 h, before → after = mark either side · full changelog · atom feed
xyz:SPCX is a pre-IPO name: daily closes, range, open interest and volume since listing are on its pre-IPO price page.