PARA:SMH perps

Perp · Hyperliquid · #895 by volume

481.400-5.25% 24h

Hyperliquid para USDC · 24h 465.360 – 508.970

24h volume: $49.4K; #895 of 924
Open interest: $71.4K; −15.7% contracts · 24h
Spread: 19.0 bps; median · 24h
Size at best price: $8.9K; mean · 24h
Net taker flow: −$14.6K; every contract · 24h
Funding: −0.0993%; per period · HL

Aperiodic metrics · PARA:SMH · 24 h

Every metric on PARA:SMH, bar by bar →

Are takers buying or selling PARA:SMH?

Flow

Takers sold $14.6K more than they bought on Hyperliquid para USDC over 24 h; the heaviest hour, 23:05 UTC, saw $6.3K.

+$6.3K0−$6.3K

00:05 UTCnow

flow.volume_delta_notionalbusiest contract · hourly · 24 h

What does it cost to cross PARA:SMH's spread?

L1 liquidity

19.0 bps median on Hyperliquid para USDC, the widest of the 200 most traded perps.

#1BTC0.015 bps
#2ETH0.052 bps
#3SOXL1.56 bps
#5SOL1.25 bps
#10AKE3.12 bps
#25XYZ:XYZ1000.35 bps
#50MUU5.65 bps
#100QNT0.62 bps
#200AIN2.69 bps
#895PARA:SMH19.0 bps

l1_liquidity.spread_bpsbusiest contract · median · 24 h

How much size waits at PARA:SMH's best price?

L1 liquidity

$8.9K at the best bid and ask on Hyperliquid para USDC, on average, deeper than 74% of the 200 most traded perps.

#1BTC$649.6K
#2ETH$267.0K
#3SOXL$87.0K
#5SOL$156.2K
#10AKE$543
#25XYZ:XYZ100$170.7K
#50MUU$22.1K
#100QNT$757
#200AIN$180
#895PARA:SMH$8.9K

l1_liquidity.total_dollar_depthbusiest contract · mean · 24 h

Which way is PARA:SMH's book leaning?

L2 imbalance

Leaned to the bid in 14 of 24 hours on Hyperliquid para USDC; 51% bids over the day.

69% bid031% bid

00:05 UTCnow

l2_imbalance.imbalance_ratio_10Hyperliquid para USDC · top 10 levels · hourly

Does PARA:SMH trade away from its index?

Basis

0.000 bps above its index on Hyperliquid para USDC now; 59.8 bps below to 24.1 bps above over 24 h.

+59.8 bps0−59.8 bps

00:05 UTCnow

basis.basis_bpsHyperliquid para USDC · hourly

Is leverage building in PARA:SMH?

Open interest

$71.4K open across 1 contract: −15.7% in contracts, −29.1% in dollars over 24 h.

$93.1K$62.2K

00:05 UTCnow

open_interest.open_interestbusiest contract · hourly

Who pays funding on PARA:SMH?

Funding

Shorts pay −0.0993% a period on Hyperliquid para USDC; between −0.0988% and +0.0035% over 24 h.

+0.0988%0−0.0988%

00:05 UTCnow

funding.funding_rateHyperliquid para USDC · hourly

PARA:SMH's contract · now

Named by Atlas →

Contract	Price	24h	Volume 24h	Open interest	Funding	Spread	Charts
Hyperliquid para USDCperpetual-PARA:SMH-USDC:USDC	481.400	-5.25%	$49.4K	$71.4K	−0.0993%	19.0	Charts →

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

Every chart for PARA:SMH →

Python

import os
from datetime import date

from aperiodic import get_derivative_metrics, get_metrics

# aperiodic.io/markets: PARA:SMH on Hyperliquid
# 5m bars, 2025-11-13 to 2026-11-13. 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, 13),
    end_date=date(2026, 11, 13),
)

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

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

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

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

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

funding = get_derivative_metrics(
    api_key=API_KEY,
    metric="funding",
    exchange="hyperliquid-perps",
    symbol="perpetual-PARA:SMH-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 para USDCperpetual-PARA:SMH-USDC:USDC

481.400

-5.25%

$49.4K

$71.4K

−0.0993%

19.0

Charts →

import os from datetime import date from aperiodic import get_derivative_metrics, get_metrics # aperiodic.io/markets: PARA:SMH on Hyperliquid # 5m bars, 2025-11-13 to 2026-11-13. 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, 13), end_date=date(2026, 11, 13), ) flow = get_metrics( api_key=API_KEY, metric="flow", exchange="hyperliquid-perps", symbol="perpetual-PARA:SMH-USDC:USDC", **PERIOD, ) l1_liquidity = get_metrics( api_key=API_KEY, metric="l1_liquidity", exchange="hyperliquid-perps", symbol="perpetual-PARA:SMH-USDC:USDC", **PERIOD, ) l2_imbalance = get_metrics( api_key=API_KEY, metric="l2_imbalance", exchange="hyperliquid-perps", symbol="perpetual-PARA:SMH-USDC:USDC", **PERIOD, ) basis = get_derivative_metrics( api_key=API_KEY, metric="basis", exchange="hyperliquid-perps", symbol="perpetual-PARA:SMH-USDC:USDC", **PERIOD, ) open_interest = get_derivative_metrics( api_key=API_KEY, metric="open_interest", exchange="hyperliquid-perps", symbol="perpetual-PARA:SMH-USDC:USDC", **PERIOD, ) funding = get_derivative_metrics( api_key=API_KEY, metric="funding", exchange="hyperliquid-perps", symbol="perpetual-PARA:SMH-USDC:USDC", **PERIOD, )