By Keel Research Team
The indicator data is updating. Check back in a few minutes.
Crypto market sentiment from Hyperliquid derivatives: funding, open interest, breadth and RSI, combined into a 0 to 100 pulse. Today's values are updating.
The indicator data is updating. Check back in a few minutes.
Coins: the most traded Hyperliquid perps, plus the 12 dashboard coins.
Readings: volume-weighted average funding, annualised; the 24-hour change in total open interest; the share of coins above their 50-day average; and the share with daily RSI above 70 minus the share below 30.
Pulse: each reading is ranked against its own last 30 days, from 0 (the lowest of the month) to 100 (the highest), and the pulse is the average of the four ranks. It compares the market with its own recent past, so a middle reading means an ordinary month, not a calm market.
It uses only Hyperliquid derivatives data: no social media, no search trends, no surveys and no spot prices from other venues.
A reading like this is most useful as a filter. A trend strategy might cut size when funding is running hot and positioning is crowded; a funding strategy collects what the crowded side pays. Both are rules you can write down and test on Hyperliquid history before any money moves.
Read how the funding carry strategy works, fork it from the library, and backtest it on Hyperliquid with fees included.
This page reads crypto market sentiment each day from Hyperliquid derivatives: funding, open interest, breadth and RSI, combined into a 0 to 100 pulse.
Four readings are taken each day across the most traded Hyperliquid perps, plus the 12 dashboard coins: volume-weighted average funding, the 24-hour change in open interest, the share of coins above their 50-day average, and the share with RSI above 70 minus the share below 30. Each is ranked against its own last 30 days, from 0 to 100, and the pulse is the average of the four ranks.
Many sentiment indexes blend social media, search trends, surveys and spot prices into one number. This one uses only what traders are doing with their money on Hyperliquid's perpetual markets, and it shows each of its four readings so you can see what moved it.
Funding is what one side of a perpetual pays the other every hour. When it is high and positive, longs are paying shorts to keep their positions, which means a lot of traders are leaning long. Very high funding often comes with crowded positioning, and it costs anyone holding a long.
It means positioning and momentum are stronger than usual for the last month. That can carry on, and it can also mean the market is crowded. The pulse describes the market; whether trading on it has paid is a question for a backtest.
Once a day, after the UTC close. The line on this page shows the last month, one point per day.