UMA perps

Perp · Binance, OKX, Hyperliquid · #690 by volume

0.29290-2.88% 24h

Binance USDT · 24h 0.28910 – 0.30530

24h volume: $934.3K; #690 of 914
Open interest: $1.3M; +2.2% contracts · 24h
Spread: 3.35 bps; median · 24h
Size at best price: $254; mean · 24h
Net taker flow: −$27.9K; every contract · 24h
Funding: +0.0050%; per period · BIN

Aperiodic metrics · UMA · 24 h

Are takers buying or selling UMA?

Takers sold $27.9K more than they bought on Binance, OKX and Hyperliquid over 24 h; the heaviest hour, 13:25 UTC, saw $13.4K.

+$14.0K0−$14.0K

23:25 UTCnow

flow.volume_delta_notionalbusiest contract on each venue · hourly · 24 h

What does it cost to cross UMA's spread?

L1 liquidity

3.35 bps median on Binance USDT, wider than 76% 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
#690UMA3.35 bps

l1_liquidity.spread_bpsbusiest contract · median · 24 h

How much size waits at UMA's best price?

L1 liquidity

$254 at the best bid and ask on Binance USDT, on average, thinner than 92% 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
#690UMA$254

l1_liquidity.total_dollar_depthbusiest contract · mean · 24 h

Which way is UMA's book leaning?

L2 imbalance

Leaned to the ask in 13 of 24 hours on Binance USDT; 51% bids over the day.

62% bid038% bid

23:25 UTCnow

l2_imbalance.imbalance_ratio_10Binance USDT · top 10 levels · hourly

Where does UMA trade?

OHLCV

Binance USDT took 80% of $934.3K traded in 24 h.

volume sharespread

Binance USDT80%3.35
OKX USDT15%6.70
Hyperliquid USDC4.8%12.7

ohlcv.volume_notionaleach contract · 24 h

Does UMA trade away from its index?

Basis

1.51 bps above its index on Binance USDT now; 21.9 bps below to 7.60 bps above over 24 h.

+21.9 bps0−21.9 bps

23:25 UTCnow

basis.basis_bpsBinance USDT · hourly

Is leverage building in UMA?

Open interest

$1.3M open across 3 contracts: +2.2% in contracts, −0.6% in dollars over 24 h.

$1.3M$1.2M

23:25 UTCnow

open_interest.open_interestbusiest contract on each venue · hourly

Who pays funding on UMA?

Funding

Longs pay on 2 of 3 contracts; Binance USDT charges +0.0050% a period (Hyperliquid’s are hourly).

Binance USDT+0.0050%
OKX USDT−0.0226%
Hyperliquid USDC+0.0013%

← shorts paylongs pay →

funding.funding_rateeach contract · per funding period · now

UMA's 3 contracts · now

Named by Atlas →

Contract	Price	24h	Volume 24h	Open interest	Funding	Spread	Charts
Binance USDTperpetual-UMA-USDT:USDT	0.29290	-2.88%	$748.9K	$953.8K	+0.0050%	3.35	Charts →
OKX USDTperpetual-UMA-USDT:USDT	0.29350	-2.75%	$140.7K	$203.3K	−0.0226%	6.70	Charts →
Hyperliquid USDCperpetual-UMA-USDC:USDC	0.29317	-2.88%	$44.7K	$105.1K	+0.0013%	12.7	Charts →

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

Every chart for UMA →

Python

import os
from datetime import date

from aperiodic import get_derivative_metrics, get_metrics

# aperiodic.io/markets: UMA on Binance, OKX and 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).
# OKX: okx-perps l1_liquidity and l2_liquidity count contracts, not coins (BTC-USDT-SWAP is 0.01 BTC each). Multiply by the contract size to match the page.
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),
)
CONTRACTS = [
    ("binance-futures", "perpetual-UMA-USDT:USDT"),
    ("okx-perps", "perpetual-UMA-USDT:USDT"),
    ("hyperliquid-perps", "perpetual-UMA-USDC:USDC"),
]

frames = {}
for exchange, symbol in CONTRACTS:
    frames["flow", exchange, symbol] = get_metrics(
        api_key=API_KEY,
        metric="flow",
        exchange=exchange,
        symbol=symbol,
        **PERIOD,
    )
    frames["l1_liquidity", exchange, symbol] = get_metrics(
        api_key=API_KEY,
        metric="l1_liquidity",
        exchange=exchange,
        symbol=symbol,
        **PERIOD,
    )
    frames["l2_imbalance", exchange, symbol] = get_metrics(
        api_key=API_KEY,
        metric="l2_imbalance",
        exchange=exchange,
        symbol=symbol,
        **PERIOD,
    )
    frames["basis", exchange, symbol] = get_derivative_metrics(
        api_key=API_KEY,
        metric="basis",
        exchange=exchange,
        symbol=symbol,
        **PERIOD,
    )
    frames["open_interest", exchange, symbol] = get_derivative_metrics(
        api_key=API_KEY,
        metric="open_interest",
        exchange=exchange,
        symbol=symbol,
        **PERIOD,
    )
    frames["funding", exchange, symbol] = get_derivative_metrics(
        api_key=API_KEY,
        metric="funding",
        exchange=exchange,
        symbol=symbol,
        **PERIOD,
    )

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

Contract

Price

24h

Volume 24h

Open interest

Funding

Spread

Binance USDTperpetual-UMA-USDT:USDT

0.29290

-2.88%

$748.9K

$953.8K

+0.0050%

3.35

Charts →

OKX USDTperpetual-UMA-USDT:USDT

0.29350

-2.75%

$140.7K

$203.3K

−0.0226%

6.70

Charts →

Hyperliquid USDCperpetual-UMA-USDC:USDC

0.29317

-2.88%

$44.7K

$105.1K

+0.0013%

12.7

Charts →

import os from datetime import date from aperiodic import get_derivative_metrics, get_metrics # aperiodic.io/markets: UMA on Binance, OKX and 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). # OKX: okx-perps l1_liquidity and l2_liquidity count contracts, not coins (BTC-USDT-SWAP is 0.01 BTC each). Multiply by the contract size to match the page. 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), ) CONTRACTS = [ ("binance-futures", "perpetual-UMA-USDT:USDT"), ("okx-perps", "perpetual-UMA-USDT:USDT"), ("hyperliquid-perps", "perpetual-UMA-USDC:USDC"), ] frames = {} for exchange, symbol in CONTRACTS: frames["flow", exchange, symbol] = get_metrics( api_key=API_KEY, metric="flow", exchange=exchange, symbol=symbol, **PERIOD, ) frames["l1_liquidity", exchange, symbol] = get_metrics( api_key=API_KEY, metric="l1_liquidity", exchange=exchange, symbol=symbol, **PERIOD, ) frames["l2_imbalance", exchange, symbol] = get_metrics( api_key=API_KEY, metric="l2_imbalance", exchange=exchange, symbol=symbol, **PERIOD, ) frames["basis", exchange, symbol] = get_derivative_metrics( api_key=API_KEY, metric="basis", exchange=exchange, symbol=symbol, **PERIOD, ) frames["open_interest", exchange, symbol] = get_derivative_metrics( api_key=API_KEY, metric="open_interest", exchange=exchange, symbol=symbol, **PERIOD, ) frames["funding", exchange, symbol] = get_derivative_metrics( api_key=API_KEY, metric="funding", exchange=exchange, symbol=symbol, **PERIOD, )