# Market Data

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### Overview

Before opening any position, you'll want to check what's available and what the market looks like. Market data gives you everything you need: asset prices, funding rates, order book depth, historical candles, and cross-venue funding comparisons across Hyperliquid, Binance, and Bybit.

**What you can do:**

* Browse and search all available perp markets on Hyperliquid
* Check live prices, 24h volume, and open interest for any asset
* View order book depth with bid/ask levels
* Pull historical candle and funding data
* Compare predicted funding rates across venues to find opportunities

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### Browsing Markets

You can browse all available perpetual markets, sort them by different metrics, and search for specific assets.

| Prompt                                   | Interpretation                                          |
| ---------------------------------------- | ------------------------------------------------------- |
| "Show me the top perp markets"           | Top 20 markets sorted by 24h volume                     |
| "What perps are available?"              | Full list of tradeable perpetual contracts              |
| "Find SOL perps"                         | Searches markets for SOL specifically                   |
| "Show me the highest funding rate perps" | All markets sorted by current funding rate              |
| "Top 50 perps by open interest"          | Markets ranked by open interest, expanded to 50 results |
| "What altcoin perps can I trade?"        | Browse the full market list beyond BTC/ETH              |

You can sort markets by **volume** (default), **funding rate**, or **open interest** to quickly find what's most active, most crowded, or most capitalized.

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### Asset Details

Get full details on any single asset including live pricing, current funding rate, 24h volume, and open interest.

| Prompt                                  | Interpretation                                               |
| --------------------------------------- | ------------------------------------------------------------ |
| "What's the price of BTC perps?"        | Live BTC price with funding, volume, and metadata            |
| "Give me the ETH perp details"          | Full ETH snapshot: price, funding, 24h volume, open interest |
| "What's the funding rate on SOL?"       | SOL details focused on current and predicted funding         |
| "How much volume does DOGE perps have?" | DOGE market activity and liquidity                           |
| "Is LINK perp available?"               | Checks if LINK is listed on Hyperliquid                      |

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### Order Book

View the full depth of bids and asks for any asset. This helps you gauge liquidity, estimate slippage, and decide between market and limit orders.

| Prompt                             | Interpretation                                        |
| ---------------------------------- | ----------------------------------------------------- |
| "Show me the BTC order book"       | Full L2 bid/ask levels with sizes                     |
| "ETH perp order book"              | Bid/ask depth for ETH                                 |
| "BTC order book aggregated"        | Price levels grouped for a cleaner, higher-level view |
| "How thick is the SOL order book?" | Assesses available liquidity and spread               |
| "What's the spread on ARB perps?"  | Shows best bid vs best ask                            |

{% hint style="info" %}
**Tip**: Always check the order book before placing large market orders. Thin books mean more slippage.
{% endhint %}

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### Historical Data

Pull historical candle data or funding rate history for any asset. Useful for charting, backtesting, and understanding trends.

#### Candles

| Prompt                                 | Interpretation                                      |
| -------------------------------------- | --------------------------------------------------- |
| "Show me BTC 1h candles"               | 1-hour candle data (open, high, low, close, volume) |
| "SOL 4h chart data"                    | 4-hour candles for SOL                              |
| "BTC daily candles for the last month" | Daily candle data over 30 days                      |
| "ETH 15m candles"                      | 15-minute candles for short-term analysis           |

{% hint style="info" %}
Available intervals: `1m`, `5m`, `15m`, `1h`, `4h`, `1d`
{% endhint %}

#### Funding History

| Prompt                                              | Interpretation                        |
| --------------------------------------------------- | ------------------------------------- |
| "ETH funding rate history"                          | Historical funding payments over time |
| "BTC funding for the last week"                     | Recent funding rate data for BTC      |
| "Has SOL funding been positive or negative lately?" | Funding trend analysis                |

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### Cross-Venue Funding

Compare predicted funding rates across Hyperliquid, Binance, and Bybit. This is read-only market data (not trading on those venues), useful for spotting funding rate arbitrage and understanding market positioning.

| Prompt                                      | Interpretation                                                   |
| ------------------------------------------- | ---------------------------------------------------------------- |
| "Show me funding rates"                     | All assets sorted by Hyperliquid predicted funding               |
| "Where's the biggest funding spread?"       | Assets with the largest discrepancy between HL and Binance/Bybit |
| "Compare ETH funding across exchanges"      | ETH predicted funding on HL vs Binance vs Bybit side by side     |
| "Any funding arb opportunities?"            | Sorted by spread to surface the biggest mismatches               |
| "Which assets have negative funding on HL?" | Filters to assets where shorts are paying longs                  |

{% hint style="info" %}
**How to read it**: If funding is 0.05% on HL but -0.02% on Binance, there's a spread. Longs on HL are paying more than usual, which could signal a crowded long that may revert.
{% endhint %}

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### Use Cases

#### Pre-Trade Research

Before opening a position, check the full picture:

```
1. "Show me SOL perp details"        → Price, funding, volume, OI
2. "SOL order book"                   → Liquidity and spread
3. "SOL 1h candles"                   → Recent price action
4. "What's the funding on SOL?"       → Will you pay or earn funding?
```

#### Funding Rate Strategies

Use cross-venue funding data to find carry trade opportunities:

```
1. "Show me the biggest funding spreads"  → Find mispriced assets
2. "Compare BTC funding across venues"    → See if HL diverges from CEXs
3. Open a position on the side that earns funding
4. Monitor the spread and close when it converges
```

#### Market Scanning

Quickly scan for what's moving:

```
1. "Top perps by volume"             → Most actively traded right now
2. "Sort perps by funding"           → Crowded trades paying high funding
3. "Top 50 by open interest"         → Where the most money is positioned
```

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### Pro Tips

1. **Check the order book before large trades** - Thin books mean more slippage on market orders
2. **Monitor funding before holding overnight** - Funding can significantly eat into profits or boost returns
3. **Use cross-venue funding for alpha** - Large spreads between HL and Binance/Bybit often revert
4. **Sort by open interest for sentiment** - High OI with high funding signals a crowded trade that could unwind
5. **Check volume before trading altcoin perps** - Low volume assets may have wider spreads and more slippage
6. **Use candle data to set entries** - Historical support/resistance levels help with limit order placement

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