PARA:TER perps

Perp · Hyperliquid · #904 by volume

244.420

Hyperliquid para USDC · 24h 241.530 – 269.910

24h volume: $18.0K; #904 of 913
Open interest: $63.6K; −25.0% contracts · 24h
Spread: 111.5 bps; median · 24h
Size at best price: $13.5K; mean · 24h
Net taker flow: −$5.1K; every contract · 24h
Funding: −0.0013%; per period · HL

Aperiodic metrics · PARA:TER · 24 h

Every metric on PARA:TER, bar by bar →

Are takers buying or selling PARA:TER?

Flow

Takers sold $5.1K more than they bought on Hyperliquid para USDC over 24 h; the heaviest hour, 16:00 UTC, saw $7.2K.

+$7.2K0−$7.2K

02:00 UTCnow

flow.volume_delta_notionalbusiest contract · hourly · 24 h

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

L1 liquidity

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

#1BTC0.015 bps
#2ETH0.052 bps
#3SOXL1.58 bps
#5ZEC0.11 bps
#10SPCX0.71 bps
#25SP5000.13 bps
#50MUU5.68 bps
#100ZHONGJI2.70 bps
#200XYZ:UNITREE1.96 bps
#904PARA:TER111.5 bps

l1_liquidity.spread_bpsbusiest contract · median · 24 h

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

L1 liquidity

$13.5K at the best bid and ask on Hyperliquid para USDC, on average, deeper than 79% of the 200 most traded perps.

#1BTC$650.8K
#2ETH$269.2K
#3SOXL$87.0K
#5ZEC$7.7K
#10SPCX$18.0K
#25SP500$112.3K
#50MUU$20.6K
#100ZHONGJI$772
#200XYZ:UNITREE$2.0K
#904PARA:TER$13.5K

l1_liquidity.total_dollar_depthbusiest contract · mean · 24 h

Which way is PARA:TER's book leaning?

L2 imbalance

Leaned to the ask in 13 of 24 hours on Hyperliquid para USDC; 49% bids over the day.

57% bid043% bid

02:00 UTCnow

l2_imbalance.imbalance_ratio_10Hyperliquid para USDC · top 10 levels · hourly

Does PARA:TER trade away from its index?

Basis

1.22 bps below its index on Hyperliquid para USDC now; 19.2 bps below to 113.2 bps above over 24 h.

+113.2 bps0−113.2 bps

02:00 UTCnow

basis.basis_bpsHyperliquid para USDC · hourly

Is leverage building in PARA:TER?

Open interest

$63.6K open across 1 contract: −25.0% in contracts, −31.0% in dollars over 24 h.

$92.6K$63.9K

02:00 UTCnow

open_interest.open_interestbusiest contract · hourly

Who pays funding on PARA:TER?

Funding

Shorts pay −0.0013% a period on Hyperliquid para USDC; between −0.0122% and +0.0495% over 24 h.

+0.0495%0−0.0495%

02:00 UTCnow

funding.funding_rateHyperliquid para USDC · hourly

PARA:TER's contract · now

Named by Atlas →

Contract	Price	24h	Volume 24h	Open interest	Funding	Spread	Charts
Hyperliquid para USDCperpetual-PARA:TER-USDC:USDC	244.420	—	$18.0K	$63.6K	−0.0013%	111.5	Charts →

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

Every chart for PARA:TER →

Python

import os
from datetime import date

from aperiodic import get_derivative_metrics, get_metrics

# aperiodic.io/markets: PARA:TER 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:TER-USDC:USDC",
    **PERIOD,
)

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

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

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

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

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

244.420

—

$18.0K

$63.6K

−0.0013%

111.5

Charts →

import os from datetime import date from aperiodic import get_derivative_metrics, get_metrics # aperiodic.io/markets: PARA:TER 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:TER-USDC:USDC", **PERIOD, ) l1_liquidity = get_metrics( api_key=API_KEY, metric="l1_liquidity", exchange="hyperliquid-perps", symbol="perpetual-PARA:TER-USDC:USDC", **PERIOD, ) l2_imbalance = get_metrics( api_key=API_KEY, metric="l2_imbalance", exchange="hyperliquid-perps", symbol="perpetual-PARA:TER-USDC:USDC", **PERIOD, ) basis = get_derivative_metrics( api_key=API_KEY, metric="basis", exchange="hyperliquid-perps", symbol="perpetual-PARA:TER-USDC:USDC", **PERIOD, ) open_interest = get_derivative_metrics( api_key=API_KEY, metric="open_interest", exchange="hyperliquid-perps", symbol="perpetual-PARA:TER-USDC:USDC", **PERIOD, ) funding = get_derivative_metrics( api_key=API_KEY, metric="funding", exchange="hyperliquid-perps", symbol="perpetual-PARA:TER-USDC:USDC", **PERIOD, )