Each page reads the live Hyperliquid order book, trade tape, and derivatives positioning for one market. Universe ranked by 24h volume (captured 2026-06-20); the live numbers update in your browser. VYX is a research and visualization tool, not trade advice.
What each market page shows
A price chart tells you where a market has been. A microstructure page tells you why it is moving and who is behind it. Every VYX market page reads four live families of data for one Hyperliquid perpetual — the resting order book, the executed trade tape, and the two derivatives gauges, funding and open interest. Read together, they turn a candle into a story: pressure, aggression, crowding, and conviction, each with its own tell.
Order book — pressure
Order-book imbalance measures how one-sided the resting liquidity is, and the microprice weights it into a fair-value lean. It is the fastest read on near-term pressure — often before price reacts.
Trade tape — aggression
The tape shows what actually executed. CVD, taker sweeps, and the largest prints reveal aggressive buyers lifting offers or sellers hitting bids — and absorption when heavy flow fails to move price.
Funding — crowding
The funding rate is the payment between longs and shorts that tethers the perpetual to spot. Stretched funding flags a crowded, one-sided book — squeeze fuel, not a timing signal.
Open interest — conviction
Open interest counts the live positions. Rising OI into a move is new money backing it; falling OI is an unwind. The change separates a real push from a hollow one.
How to read a Hyperliquid market
Start with pressure: is the book leaning bid-heavy or ask-heavy, and is the microprice pulling away from the mid? Then check whether the tape agrees — aggressive order flow in the same direction confirms the lean, while flow that hits the book without moving price is a sign of absorption. Finally, use funding and open interest for context: a move backed by rising OI and moderate funding has fuel and room to run; the same move into already-stretched funding is a crowded, fragile one. No single number is a trade — the read comes from how the four families line up, and from watching whether a signal persists or fades across the next few candles.
The per-market pages here are the single-market view. To compare pressure across the whole venue at once — every market ranked by the same signals, live — open the Hyperliquid scanner or watch the order-flow pulse.
FAQ
What data does each Hyperliquid market page show?
Four live microstructure families for one perpetual: the resting order book (imbalance and microprice lean), the executed trade tape (cumulative volume delta, taker sweeps, and the largest prints), and derivatives positioning (funding rate and open interest). Together they show not just where price is, but the pressure and positioning behind the move.
Is the data on these pages live?
Yes. Each page hydrates its funding, open interest, and order-flow readouts from Hyperliquid in your browser, so no stale figure is ever baked into the page. For the full candle-by-candle chart, history, and signals, open the market on the VYX desk.
How is this different from a normal price chart?
A price chart shows the result — the candle that already printed. These pages show the cause: order-book imbalance and order flow often shift before price reacts, and funding and open interest reveal how crowded and how convicted the positioning behind a move is. It is a microstructure read, not another candlestick view.
Which markets are covered, and why only Hyperliquid?
The most active Hyperliquid perpetuals by 24h volume, refreshed periodically. VYX focuses on Hyperliquid because it publishes a fully on-book order flow — every resting order and every fill — which is exactly the raw material a microstructure scanner needs. The live desk scans 300+ Hyperliquid markets at once.