KSHIB perps

Perp · Hyperliquid · #633 by volume

0.0042320-2.89% 24h

Hyperliquid USDC · 24h 0.0041580 – 0.0043730

24h volume: $1.2M; #633 of 914
Open interest: $3.1M; +9.1% contracts · 24h
Spread: 4.64 bps; median · 24h
Size at best price: $13.3K; mean · 24h
Net taker flow: +$57.5K; every contract · 24h
Funding: +0.0013%; per period · HL

Aperiodic metrics · KSHIB · 24 h

Every metric on KSHIB, bar by bar →

Are takers buying or selling KSHIB?

Flow

Takers bought $58.6K more than they sold on Hyperliquid USDC over 24 h; the heaviest hour, 18:25 UTC, saw $72.3K.

+$72.3K0−$72.3K

23:25 UTCnow

flow.volume_delta_notionalbusiest contract · hourly · 24 h

What does it cost to cross KSHIB's spread?

L1 liquidity

4.64 bps median on Hyperliquid USDC, wider than 82% of the 200 most traded perps.

#1BTC0.015 bps
#2ETH0.051 bps
#3SOXL1.56 bps
#5SOL1.25 bps
#10AKE3.18 bps
#25XYZ:XYZ1000.35 bps
#50MUU5.64 bps
#100MVLL8.76 bps
#200AIN2.70 bps
#633KSHIB4.64 bps

l1_liquidity.spread_bpsbusiest contract · median · 24 h

How much size waits at KSHIB's best price?

L1 liquidity

$13.3K at the best bid and ask on Hyperliquid USDC, on average, deeper than 79% of the 200 most traded perps.

#1BTC$651.7K
#2ETH$269.8K
#3SOXL$86.9K
#5SOL$157.5K
#10AKE$553
#25XYZ:XYZ100$165.1K
#50MUU$22.4K
#100MVLL$13.7K
#200AIN$180
#633KSHIB$13.3K

l1_liquidity.total_dollar_depthbusiest contract · mean · 24 h

Which way is KSHIB's book leaning?

L2 imbalance

Leaned to the ask in 22 of 24 hours on Hyperliquid USDC; 47% bids over the day.

55% bid045% bid

23:25 UTCnow

l2_imbalance.imbalance_ratio_10Hyperliquid USDC · top 10 levels · hourly

Does KSHIB trade away from its index?

Basis

4.72 bps below its index on Hyperliquid USDC now; 5.16 bps below to 0.22 bps above over 24 h.

+5.16 bps0−5.16 bps

23:25 UTCnow

basis.basis_bpsHyperliquid USDC · hourly

Is leverage building in KSHIB?

Open interest

$3.1M open across 1 contract: +9.1% in contracts, +5.6% in dollars over 24 h.

$3.1M$2.9M

23:25 UTCnow

open_interest.open_interestbusiest contract · hourly

Who pays funding on KSHIB?

Funding

Longs pay +0.0013% a period on Hyperliquid USDC; between +0.0013% and +0.0013% over 24 h.

+0.0013%0−0.0013%

23:25 UTCnow

funding.funding_rateHyperliquid USDC · hourly

KSHIB's contract · now

Named by Atlas →

Contract	Price	24h	Volume 24h	Open interest	Funding	Spread	Charts
Hyperliquid USDCperpetual-KSHIB-USDC:USDC	0.0042320	-2.89%	$1.2M	$3.1M	+0.0013%	4.64	Charts →

History · a year of 5m bars per series · busiest contract

Every chart for KSHIB →

Python

import os
from datetime import date

from aperiodic import get_derivative_metrics, get_metrics

# aperiodic.io/markets: KSHIB on Hyperliquid
# 5m bars, 2025-11-12 to 2026-11-12. Install: pip install "aperiodic[polars]"
# Needs an API key (https://aperiodic.io/home/api) on a plan with flow, basis, open_interest, funding (Pro) and l1_liquidity, l2_imbalance (Prime).
API_KEY = os.environ["APERIODIC_API_KEY"]
# timestamp="true" keys bars on capture time, as on the page; "exchange" keys them on exchange time.
PERIOD = dict(
    interval="5m",
    timestamp="true",
    start_date=date(2025, 11, 12),
    end_date=date(2026, 11, 12),
)

flow = get_metrics(
    api_key=API_KEY,
    metric="flow",
    exchange="hyperliquid-perps",
    symbol="perpetual-KSHIB-USDC:USDC",
    **PERIOD,
)

l1_liquidity = get_metrics(
    api_key=API_KEY,
    metric="l1_liquidity",
    exchange="hyperliquid-perps",
    symbol="perpetual-KSHIB-USDC:USDC",
    **PERIOD,
)

l2_imbalance = get_metrics(
    api_key=API_KEY,
    metric="l2_imbalance",
    exchange="hyperliquid-perps",
    symbol="perpetual-KSHIB-USDC:USDC",
    **PERIOD,
)

basis = get_derivative_metrics(
    api_key=API_KEY,
    metric="basis",
    exchange="hyperliquid-perps",
    symbol="perpetual-KSHIB-USDC:USDC",
    **PERIOD,
)

open_interest = get_derivative_metrics(
    api_key=API_KEY,
    metric="open_interest",
    exchange="hyperliquid-perps",
    symbol="perpetual-KSHIB-USDC:USDC",
    **PERIOD,
)

funding = get_derivative_metrics(
    api_key=API_KEY,
    metric="funding",
    exchange="hyperliquid-perps",
    symbol="perpetual-KSHIB-USDC:USDC",
    **PERIOD,
)

Every number is from Aperiodic's own 5-minute bars, 15 minutes behind.

Contract

Price

24h

Volume 24h

Open interest

Funding

Spread

Hyperliquid USDCperpetual-KSHIB-USDC:USDC

0.0042320

-2.89%

$1.2M

$3.1M

+0.0013%

4.64

Charts →

import os from datetime import date from aperiodic import get_derivative_metrics, get_metrics # aperiodic.io/markets: KSHIB on Hyperliquid # 5m bars, 2025-11-12 to 2026-11-12. Install: pip install "aperiodic[polars]" # Needs an API key (https://aperiodic.io/home/api) on a plan with flow, basis, open_interest, funding (Pro) and l1_liquidity, l2_imbalance (Prime). API_KEY = os.environ["APERIODIC_API_KEY"] # timestamp="true" keys bars on capture time, as on the page; "exchange" keys them on exchange time. PERIOD = dict( interval="5m", timestamp="true", start_date=date(2025, 11, 12), end_date=date(2026, 11, 12), ) flow = get_metrics( api_key=API_KEY, metric="flow", exchange="hyperliquid-perps", symbol="perpetual-KSHIB-USDC:USDC", **PERIOD, ) l1_liquidity = get_metrics( api_key=API_KEY, metric="l1_liquidity", exchange="hyperliquid-perps", symbol="perpetual-KSHIB-USDC:USDC", **PERIOD, ) l2_imbalance = get_metrics( api_key=API_KEY, metric="l2_imbalance", exchange="hyperliquid-perps", symbol="perpetual-KSHIB-USDC:USDC", **PERIOD, ) basis = get_derivative_metrics( api_key=API_KEY, metric="basis", exchange="hyperliquid-perps", symbol="perpetual-KSHIB-USDC:USDC", **PERIOD, ) open_interest = get_derivative_metrics( api_key=API_KEY, metric="open_interest", exchange="hyperliquid-perps", symbol="perpetual-KSHIB-USDC:USDC", **PERIOD, ) funding = get_derivative_metrics( api_key=API_KEY, metric="funding", exchange="hyperliquid-perps", symbol="perpetual-KSHIB-USDC:USDC", **PERIOD, )