By Keel Research Team · Updated May 12, 2026
A 4-asset basket tracking the HL native ecosystem — HYPE, PURR, HYPER, MOVE. Equal-weighted. Roughly flat YTD: HYPE’s strength offset by softer performance from the broader ecosystem names.
Window: Jan 1 — May 1, 2026 (YTD). Equal-weight, vol-targeted sizing. $10,000 start → $10,082 end.
Verified 2026-05-12 against the live Keel backtest engine on Hyperliquid price data. Past backtest performance is not indicative of future returns.
Bring this index live on Hyperliquid via Keel, or open the Index Builder to tweak weighting, add a short side, or change the asset list.
Opens the Keel strategy editor with the index pre-built. New users sign in first; the config persists through sign-up.
| Ticker | Category | YTD return | Target weight |
|---|---|---|---|
| HYPE | L1 | +68.3% | 25.0% |
| PURR | Memes | +33.4% | 25.0% |
| HYPER | L2 / Scaling | -1.3% | 25.0% |
| MOVE | L2 / Scaling | -50.1% | 25.0% |
Dispersion note: wide YTD spread (HYPE +68% vs MOVE −50%). Equal weight gives each a vote; if you have a HYPE-only view, drop the other three in the Index Builder.
The pipeline loads 15-minute price data for HYPE, PURR, HYPER, and MOVE, resamples to daily bars, emits a baseline forecast, and normalizes to a 1/N weight per asset. Buffered execution skips trading when the live position is within 10% of target — turnover stayed low at 20 trades across the 4-month window.
Inverse-volatility weighting would tilt the basket toward the lower-vol names (HYPE itself is the most-volatile here), but in equal-weight mode each asset gets the same starting allocation regardless of its volatility profile.
The Hyperliquid ecosystem is unusual in that the L1 token has outperformed every adjacent token YTD. That dispersion is precisely why this basket is “steady but not exciting” — the index represents the broader thesis, not the HYPE-only rocket. Pick your bet via the Index Builder.
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A 4-asset basket tracking the Hyperliquid native ecosystem: HYPE (the L1 token), PURR (the HL-native meme), HYPER (HyperEVM scaling), and MOVE (Movement, HL-adjacent L2). The thesis is that the HL ecosystem grows as a coherent block — HYPE leads, related tokens benefit from HIP-3 markets, HyperEVM dApps, and ecosystem distribution.
HYPE alone is +68% YTD; this basket is roughly flat because the other three assets dragged. Equal-weight mode dilutes HYPE’s outperformance. If you want concentrated HYPE exposure, just buy HYPE; if you want broader ecosystem coverage with the option to tilt toward HYPE via custom weights, the Index Builder lets you do that.
They’re structurally aligned with the HL thesis — MOVE is the L2 most actively integrating HL liquidity, HYPER is the HyperEVM-adjacent scaling layer. The basket represents the broader HL ecosystem story including the names that have lagged. Tilt or exclude them in the Index Builder if you have a different view.
No — this index is on-chain Hyperliquid-native tokens. HIP-3 equity perps (TSLA, NVDA, SPY) are a separate product surface; we cover them on the /perps/[symbol] pages. The HL Ecosystem Index targets the tokenized side of the ecosystem.
Yes — open the Index Builder, click "Add short side," and short L2 majors (ARB, OP, MNT) against the HL basket for a sector-rotation thesis: long HL-native, short the L2-incumbent narrative.
Customize this basket — tilt toward HYPE, add a short side, or pivot to inverse-vol.
Hyperliquid stock perps — TSLA, NVDA, SPY, SPACEX. Separate from the on-chain ecosystem basket.
Live HL funding rates ranked. Useful for combining HL exposure with a funding-carry overlay.