Over 107 days of 20-level order-book snapshots, xyz:URNM quoted a median spread of 11.15 bps in US regular hours with $52k resting within 25 bps of mid. A $25k market order paid about 15.01 bps in regular hours and 71.08 bps on weekends, when depth within 25 bps fell to $6k. Taker fee is 0.90 bps with growth mode on; funding averaged +20.33% annualised over the last 30 days.
spread · rth
11.15 bps
median · p90 27.30 bps
depth ±25bps · rth
$52k
median, both sides
$25k slip · rth
15.01 bps
fills 75%
$25k slip · wknd
71.08 bps
fills 3%
taker fee
0.90 bps
fee scale 1.0 · growth mode on
funding apr · 30d
+20.33%
longs pay when positive · 7d +28.27%
vol 24h · 30d avg
$207k
notional
open interest
$1.6M
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
4,918
11.15
27.30
$1k
$11k
$52k
$104k
9.34
15.01
36.16
6%
0%
US extended 4–9:30, 16–20
7,190
15.03
36.16
$459
$1k
$9k
$21k
21.81
48.69
91.86
2%
0%
Overnight 20–4
4,948
16.11
35.92
$437
$892
$8k
$19k
21.68
62.32
114.80
2%
0%
Weekend / holiday
9,157
15.37
25.10
$429
$992
$6k
$15k
24.46
71.08
116.36
1%
0%
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 URNM, $50k or more→ sign infree · by email · when the data is rebuilt
taker buy · 24h
$230k
30d $2.9M
taker sell · 24h
$136k
30d $3.2M
imbalance · 24h
+25.6%
of $367k · 30d -5.1% of $6.1M
trades · 24h
1,549
0 large orders · 30d 38,621
takers · 24h
90
47 makers · 111 addresses
takers · 30d
559
604 addresses incl. makers
top-10 share · 30d
49%
of $6.1M by 559 takers · 11 make half
concentration · 30d
0.037
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: +$255 so far
by session · 30 d
session
taker buy
taker sell
net
imbalance
trades
share of notional
US regular 9:30–16:00
$1.9M
$2.0M
−$143k
-3.7%
20,720
64%
US extended 4–9:30, 16–20
$538k
$561k
−$23k
-2.1%
9,000
18%
Overnight 20–4
$159k
$158k
+$186
+0.1%
4,198
5%
Weekend / holiday
$324k
$469k
−$145k
-18.3%
4,703
13%
sessions in New York time as in the liquidity table above · share = the session's taker notional over all four, $6.1M 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 $6.1M of 30-day taker notional (38,621 trades, 559 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/URNM.json · definitions in methodology
alert meURNM funding above or below a level I set→ sign infree · by email · when the data is rebuilt
last settlement
+80.66%
+0.9208 bps/h · 10-01 21:00 ET
next · estimate
+39.94%
+0.456 bps/h · as of 10-01 22:15 ET
apr · 24h
+22.09%
23 of 24 hours observed
apr · 7d
+28.27%
167 of 168 hours observed
apr · 30d
+20.33%
583 of 720 hours · stdev 74.35%
paid by a long · 30d
135.31 bps
of notional, over 583 observed hours
hours above neutral · 30d
58%
at 16% · below 26% · negative 24%
range · 30d
+340%
highest hour · lowest -713%
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: +52.09% 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 = ±43.76% 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
+24.00%
101
68%
+22.46%
424
69%
US extended 4–9:30, 16–20
+37.13%
166
68%
+17.95%
708
55%
Overnight 20–4
+9.48%
112
51%
+6.13%
464
45%
Weekend / holiday
+10.80%
204
50%
-9.41%
872
38%
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
09-15 17:0009-15 21:00 UTC
US extended
-8.141
-713%
09-12 01:0009-12 05:00 UTC
weekend / holiday
-5.301
-464%
09-09 04:0009-09 08:00 UTC
overnight
+3.887
+340%
09-17 08:0009-17 12:00 UTC
US extended
+2.998
+263%
09-12 00:0009-12 04:00 UTC
weekend / holiday
-2.857
-250%
09-15 04:0009-15 08:00 UTC
overnight
-2.679
-235%
09-08 17:0009-08 21:00 UTC
US extended
+2.65
+232%
10-01 04:0010-01 08:00 UTC
overnight
-2.302
-202%
09-17 06:0009-17 10:00 UTC
US extended
+2.169
+190%
09-30 17:0009-30 21:00 UTC
US extended
+2.109
+185%
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/URNM.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