HYPE: Hyperliquid TWAP Buying and Selling

Included with Plus.

USD value of the TWAP orders filled on Hyperliquid's perpetual markets in each period: buying, selling and the net, over all coins.

Why use it. A TWAP order splits a large trade into small slices over minutes or hours to hide its size. The slices are public as they fill, so they show patient large buyers and sellers at work. How to read it. A net line well above zero means large patient buying; below zero, selling. Steady one-way TWAP flow often runs alongside a trend; both lines rising together is large traders repositioning. The summary value is the net.

Calculation. Hyperliquid fills each TWAP order as a series of small slices, which reach its public trade stream with an all-zero transaction hash; in our checks on 7 November 2026 all 2,080 such trades over 25 minutes were TWAP slices, none anything else. Each slice is valued at size x price on its taker side, which is the TWAP's direction, over every perpetual market, and summed per ten-minute bucket; hourly and daily values are the sums of their buckets, published only when every bucket counts (the stream reconnects every few hours and misses about five seconds each time; a bucket missing more than 30 seconds does not count). The open period shows the sum so far as a labelled partial. History starts on 8 November 2026, when our capture of the slices began; no earlier values are reconstructed. Source: our own capture of Hyperliquid's public trade stream, collected by CryptoKeyhole.