How the S&P 500 perpetual on Hyperliquid (xyz:SP500, 24/7)
tracks the traditional market — live mapped estimate, per-session discrepancy
statistics, and the correction that closes the gap. Ongoing analysis; more to come.
How far the Hyperliquid perp typically sits from SPY (raw), what the rolling basis correction shrinks it to (corrected), and the 90% band in dollars at the current price. Your row right now is highlighted.
The S&P 500 perpetual on Hyperliquid (xyz:SP500) trades around the
clock. We map it to the SPY scale with a trailing 5-session median ratio (no
lookahead), subtract the last observed HL-vs-SPY basis, and publish the result
with empirical uncertainty bands.
Validated walk-forward over 77 sessions of matched minute data: mean absolute error 1.2 bps near the 09:30 open and 16:00 close while both tapes print, and a ±16 bps 90% band carrying fully overnight — versus ~47 bps if you simply carry the previous close. Live difference charts → · Full data dashboard →
Not investment advice. Estimates are model output derived from a crypto-venue perpetual and can diverge from where SPY actually opens; the bands are historical residual quantiles, not guarantees. © 2026 unnn.net