Narrative Dashboard
The AI clusters Hyperliquid markets into narratives, ranks them by heat, and explains each move with positioning data — not vibes.
Narrative of the day
L2 up 10.6% — STRK leading the move
STRK +11.5%ARB +7.1%
- Hyperliquid prints $105.83M of 24h volume across 2 L2 perps with $69.71M open interest.
- Funding near flat (11% APR) — positioning is balanced; the move is spot-led rather than leverage-led.
- Aggressor flow skews long (1.29:1) — perp traders are chasing, not fading.
Crypto Equities up 9.0% — CRCL leading the move
+9.0%Funding
-11% APR
OI
$168.40M
24h vol
$218.14M
L/S flow
0.73:1
CRCL +11.4%MSTR +4.6%HOOD +3.7%GME +6.3%COIN +6.2%
- Price is climbing while funding is negative (-11% APR): shorts are fighting the tape and funding pays you to be long — textbook short-squeeze fuel.
- Aggressor flow skews short (0.73:1) — the crowd is leaning against this sector.
Alt L1 up 6.3% — NEAR leading the move
+6.3%Funding
11% APR
OI
$395.85M
24h vol
$341.74M
L/S flow
1.29:1
NEAR +7.0%SUI +0.3%
- Funding near flat (11% APR) — positioning is balanced; the move is spot-led rather than leverage-led.
- Aggressor flow skews long (1.29:1) — perp traders are chasing, not fading.
Majors: quiet tape, positioning still long-heavy
+0.7%Funding
11% APR
OI
$6.92B
24h vol
$6.68B
L/S flow
1.29:1
BTC +0.6%ETH +0.8%SOL +0.6%XRP −0.1%
- Funding near flat (11% APR) — positioning is balanced; the move is spot-led rather than leverage-led.
- Aggressor flow skews long (1.29:1) — perp traders are chasing, not fading.
DeFi up 3.1% — UNI leading the move
+3.1%Funding
11% APR
OI
$182.29M
24h vol
$87.56M
L/S flow
1.29:1
ENA +3.1%UNI +3.2%
- Funding near flat (11% APR) — positioning is balanced; the move is spot-led rather than leverage-led.
- Aggressor flow skews long (1.29:1) — perp traders are chasing, not fading.
AI & Chips: quiet tape, positioning still long-heavy
−0.8%Funding
7% APR
OI
$217.66M
24h vol
$400.42M
L/S flow
1.17:1
NVDA −0.8%INTC −1.3%AMD −0.7%PLTR +1.2%ARM +5.2%AVGO +0.2%
- Funding near flat (7% APR) — positioning is balanced; the move is spot-led rather than leverage-led.
Indices down 2.7% — SPX leading the move
−2.7%Funding
8% APR
OI
$6.85M
24h vol
$3.57M
L/S flow
1.22:1
SPX −4.3%US500 +0.4%
- Funding near flat (8% APR) — positioning is balanced; the move is spot-led rather than leverage-led.
Commodities up 2.0% — SILVER leading the move
+2.0%Funding
4% APR
OI
$559.79M
24h vol
$212.43M
L/S flow
1.11:1
SILVER +2.9%GOLD +1.4%NATGAS −1.9%COPPER −0.8%PAXG +1.3%
- Funding near flat (4% APR) — positioning is balanced; the move is spot-led rather than leverage-led.
Big Tech: quiet tape, positioning still long-heavy
+0.4%Funding
7% APR
OI
$341.44M
24h vol
$269.97M
L/S flow
1.17:1
GOOGL +0.9%META +0.2%TSLA −0.4%AAPL −0.9%AMZN +0.9%MSFT +1.2%
- Funding near flat (7% APR) — positioning is balanced; the move is spot-led rather than leverage-led.