Reading ETH microstructure
ETH is one of the most liquid markets on Hyperliquid, so its book is deep and its tape is fast. That makes ETH a clean microstructure read: pressure shows up in the order book and the flow before it shows up on price. vyx reads the live order book, the executed trade tape, and derivatives positioning for ETH — the cause behind the price move, not just the candle it leaves.
ETH funding rate
Funding is the recurring payment between longs and shorts that tethers the ETH perpetual to its index price. Positive funding means longs are paying shorts — crowded longs; negative means the reverse. Read ETH funding as a crowding gauge, not a timing signal: stretched funding raises squeeze risk but can persist through a trend.
ETH open interest
Open interest is how many ETH positions are currently live. The change is the tell: rising open interest into a move means new money is backing it (conviction); falling open interest is an unwind — short covering or longs closing, not fresh bets. Pair ETH OI change with price and funding to separate a real push from a hollow one.
ETH order flow & CVD
The order book shows intentions; the tape shows what executed. vyx tracks ETH cumulative volume delta (CVD), taker sweeps, and the largest prints live — so you can see aggressive buyers lifting offers or sellers hitting bids, and spot absorption when heavy ETH flow fails to move price.
ETH order-book imbalance
Order-book imbalance measures how one-sided ETH's resting liquidity is — more bids than asks (buy pressure) or more asks than bids (sell pressure). Combined with the microprice (the liquidity-weighted fair value), it is the fastest read on near-term ETH pressure, often before price reacts.
Scan ETH live
Open ETH in the vyx cockpit to chart every metric candle by candle and scan it against 300+ other Hyperliquid markets at once — order-book pressure, trade flow, funding, and open interest in one view. vyx is a research and visualization tool, not trade advice.
More Hyperliquid markets
FAQ
What is the current funding rate for ETH on Hyperliquid?
It updates hourly. The live readout on this page shows ETH's current funding rate straight from Hyperliquid — positive means longs pay shorts (crowded longs), negative means shorts pay longs. vyx tracks it across 300+ markets so you can compare crowding.
How do I track ETH open interest?
The snapshot above shows ETH's current open interest; what matters is the change — rising open interest is new positioning, falling is an unwind. Open ETH in vyx to chart its open-interest change candle by candle.
Does vyx show ETH order flow and CVD?
Yes. vyx reads ETH's executed taker flow — cumulative volume delta, sweeps, and the largest prints — live from the Hyperliquid tape, alongside the order book. It is a research and visualization tool, not trade advice.
Is the ETH data on this page live?
The readout pulls ETH's latest values from Hyperliquid in your browser. For the full live chart, history, and signals, open ETH in the vyx cockpit.