hyperliquid.perp_market_metrics_hourly

hyperliquid.perp_market_metrics_hourly is the venue-wide hourly market table for Hyperliquid perpetual futures. Grain: one row per (coin, block_hour), covering both first-party markets (coin = BTC) and HIP-3 builder-deployed markets (coin = xyz:TSLA); spot and HIP-4 outcome markets are out of scope. coin is the join key to perp_market_details; market_symbol repeats across dexes, so never join on it. This table, not perp_trades, is the volume figure to quote: hyperliquid.perp_trades holds both legs of every match, so its raw SUM(notional_usd) is exactly twice the volume reported here. The candle, volume and count columns here are measured off the taker leg, so each match is counted once. The participant counts and fee_usd deliberately span both legs — unique_traders is distinct accounts on either side, and fee_usd nets the legs, because a rebated maker fee is negative.

Table schema

Column	Type	Description
`block_month`	`DATE`	Partition key, and the only column that prunes — filter it on every read
`block_date`	`DATE`	Date of `block_hour`
`block_hour`	`TIMESTAMP(3) WITH TIME ZONE`	Start of the hour, UTC. The grain, with `coin`
`perp_dex`	`VARCHAR`	`hyperliquid` for first-party markets, otherwise the builder DEX code (`xyz`, `flx`, `para`, …)
`coin`	`VARCHAR`	Venue-native market id. The grain, with `block_hour`, and the join key to `perp_market_details`
`market_symbol`	`VARCHAR`	`coin` with the `dex:` prefix stripped. Not unique across dexes
`asset_id`	`BIGINT`	Numeric asset id used by the raw action tables. `NULL` when the market traded before the registry recorded it
`open_price`	`DOUBLE`	First trade price in the hour. `NULL` on an hour with no trades
`high_price`	`DOUBLE`	Highest trade price in the hour
`low_price`	`DOUBLE`	Lowest trade price in the hour
`close_price`	`DOUBLE`	Last trade price in the hour. Never carried forward
`vwap`	`DOUBLE`	`volume_usd / volume_units`
`volume_usd`	`DOUBLE`	Traded notional, one count per match. Includes administrative fills
`volume_units`	`DOUBLE`	Traded volume in base units
`buy_volume_usd`	`DOUBLE`	Aggressor buy notional — not a directional net, and it includes engine-forced closes
`sell_volume_usd`	`DOUBLE`	Aggressor sell notional. Same forced-flow caveat
`trades_count`	`BIGINT`	Matches in the hour
`unique_traders`	`BIGINT`	Distinct accounts on either leg
`unique_takers`	`BIGINT`	Distinct aggressors
`unique_makers`	`BIGINT`	Distinct passive accounts
`fee_usd`	`DOUBLE`	Protocol fee revenue for the market, both legs netted. Denominated in the market’s quote token, which is not always USDC
`taker_fee_usd`	`DOUBLE`	Taker-leg fees
`maker_fee_usd`	`DOUBLE`	Maker-leg fees, negative where rebated
`builder_fee_usd`	`DOUBLE`	Front-end / builder-code fee share. A component of `fee_usd`, not an addend
`deployer_fee_usd`	`DOUBLE`	HIP-3 deployer fee share. A component of `fee_usd`, not an addend
`forced_count`	`BIGINT`	Matches the engine forced: liquidations and ADL, counted once per match
`forced_volume_usd`	`DOUBLE`	Notional of those matches, directly comparable to `volume_usd`
`open_interest_units`	`DOUBLE`	Open interest at the hour’s funding round, in base units. `NULL` when no round covered the market
`open_interest_usd`	`DOUBLE`	`open_interest_units` priced at the last trade at or before the hour
`open_positions`	`BIGINT`	Distinct accounts holding an open position at the funding round
`funding_rate`	`DOUBLE`	The hour’s funding rate as settled, signed
`funding_rate_annualized`	`DOUBLE`	`funding_rate * 24 * 365`
`funding_paid_usd`	`DOUBLE`	Funding that changed hands in the hour, as a positive magnitude
`_updated_at`	`TIMESTAMP(3) WITH TIME ZONE`	Build timestamp

Why hourly, and when a row exists

Funding is one global round per hour that covers every market and every account at a single block, so an hour is one clean position snapshot — there is no finer cadence at which open interest is well defined. A row exists if the market had either a trade or an open position in the hour. That is why an illiquid market with zero trades still reports open interest: the trade columns are zero-filled (volume_usd = 0, trades_count = 0) while the candles and vwap stay NULL, because there was no price. The newest hour is partial by construction. Trades are still accumulating, and open_interest_*, open_positions and funding_* stay NULL until the top-of-hour round clears ingestion, observed at 30–75+ minutes. Filter block_hour < date_trunc('hour', now()) for complete hours only.

Flows and stocks have different history floors

Flow columns are aggregated from perp_trades, which starts 2025-07-27. Stock columns — open_interest_units, open_interest_usd, open_positions, funding_rate, funding_rate_annualized, funding_paid_usd — come from the venue’s hourly funding events, which start 2025-09-27 (both floors measured 2026-08-21). Rows in between carry trade columns only, with every stock column NULL.

Open interest, open position counts and funding rates cannot be reconstructed from fills under any circumstances — a fill records a change in a position, never the standing position of every account. There is no backfill for the two-month gap.

Open interest is published both-sides

open_interest_units is longs plus shorts, matching what the Hyperliquid UI and API publish. Classical one-sided open interest is exactly half of it. open_interest_usd prices those units at the market’s last trade at or before the hour, carried forward on hours the market did not trade. The Hyperliquid UI prices open interest at mark instead, so the two differ by the trade-to-mark basis.

Funding direction and magnitude

funding_rate is the rate as it settled for that hour, not the forward-looking rate shown beside the funding countdown in the UI, which prices the round about to close. A long pays at a positive rate. funding_paid_usd is the magnitude that changed hands, taken from the paying side. The receiving side is the same figure — open interest is balanced, so funding nets to zero within a market — which means the column is a gross flow, not a net, and direction has to come from the sign of funding_rate.

Classification and administrative fills

Curated metadata (market_category, asset_class, asset_type, underlying_ticker, builder_name) is deliberately not stored here, so that a reclassification never rewrites this table — join perp_market_details on coin for it.

SELECT
  d.asset_class,
  m.coin,
  SUM(m.volume_usd) AS volume_usd,
  SUM(m.funding_paid_usd) AS funding_paid_usd,
  MAX_BY(m.open_interest_usd, m.block_hour) AS latest_open_interest_usd
FROM hyperliquid.perp_market_metrics_hourly AS m
JOIN hyperliquid.perp_market_details AS d
  ON d.coin = m.coin
WHERE m.block_month >= DATE_TRUNC('month', NOW() - INTERVAL '7' DAY)
  AND m.block_hour >= DATE_TRUNC('hour', NOW()) - INTERVAL '7' DAY
  AND m.block_hour < DATE_TRUNC('hour', NOW())
GROUP BY 1, 2
ORDER BY 3 DESC
LIMIT 50

volume_usd includes administrative fills — the engine’s force-close of every position when a builder DEX delists a market, and vault position netting. Neither is trading, and neither can be excluded at this grain: for a tape without them, aggregate perp_trades with is_taker AND fill_type NOT IN ('settlement', 'vault_netting').

For the reporting grain use perp_market_metrics_daily, which re-aggregates from fills rather than summing these rows — daily distinct account counts cannot be summed out of hourly ones.

Curated Data

Solana

Hyperliquid

Non-EVM Networks

Protocols

EVM Networks

Partner Data

Dune Index

hyperliquid.perp_market_metrics_hourly

Table schema

Why hourly, and when a row exists

Flows and stocks have different history floors

Open interest is published both-sides

Funding direction and magnitude

Classification and administrative fills

​Table schema

​Why hourly, and when a row exists

​Flows and stocks have different history floors

​Open interest is published both-sides

​Funding direction and magnitude

​Classification and administrative fills

Table schema

Why hourly, and when a row exists

Flows and stocks have different history floors

Open interest is published both-sides

Funding direction and magnitude

Classification and administrative fills