The 2026 World Cup on prediction markets
Arrakis Research compares World Cup activity, trader outcomes, fees, retention, and liquidity across Kalshi, Polymarket, and Hyperliquid.
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Price Discovery in Hyperliquid’s Weekend Markets
What always-on perpetual markets can reveal before equities, commodities, and FX venues reopen.
Hyperliquid Priority Fees: Internalizing HFT Revenue
Blockworks Research examines how Hyperliquid is monetizing execution priority, queue position, and earlier access to pending order flow.
For 49 Hours During the Iran Strikes, Hyperliquid Was the Only Liquid Oil Market
Tick-level analysis of Hyperliquid oil markets during the Iran strikes, covering 24/7 price discovery, CME closure gaps, and HIP-3 market structure.
Hyperliquid: Weekend Price Discovery in 24/7 Markets
Research on Hyperliquid weekend price discovery during crude oil market stress, covering off-hours liquidity, reopen accuracy, and bounding bands.
Weekend Market Note: Hormuz Blockade
Weekend market note on TradeXYZ's oil-driven session during Hormuz blockade risk, crude repricing, equity weakness, and weekend price discovery.
Pre-IPO Perpetuals
Analysis of TradeXYZ's CBRS pre-IPO perpetual, covering continuous price discovery, synthetic access, liquidity, and convergence into the Nasdaq open.
Addressing Hyperliquid's HIP-3 Deployer Bottleneck
Research on HIP-3 deployer concentration, TradeXYZ dominance, weak marginal economics, and proposed changes to market-creation incentives.
Who is trading on HIP-3?
Orderflow analysis across seven HIP-3 markets on Hyperliquid, covering 175,000 wallets, $161B in volume, builders, and trader categories.
Who is actually trading on Trade.xyz?
Wallet-level analysis of who traded on trade.xyz, separating market makers, arbitrage bots, retail users, and airdrop-farming activity.
The Oil Trader's Guide to the Strait of Hormuz
Research on Strait of Hormuz oil-market disruption, physical crude pricing, and the HIP-3 opportunity for commodity price discovery on Hyperliquid.
Can Hyperliquid Predict the S&P 500?
Analysis of trade.xyz's S&P 500 perpetual market on Hyperliquid, including price discovery, informed flow, basis signals, and wallet behavior.
Two Weeks of HIP-4: A Forensic Look at Hyperliquid's Outcome Markets
Forensic analysis of HIP-4's first two weeks on Hyperliquid, covering wallets, order flow, builders, liquidity, and prediction-market pricing.