Hyperliquid Bitcoin Book Shows $6.35 Million Sell-Side Depth Gap

A Nov. 9 order-book snapshot showed Hyperliquid’s Bitcoin (BTC) perpetual market with $9.6115 million in sell-side depth and $3.2594 million in buy-side depth, a $6.3521 million gap. Bitcoin was priced at $74,800 alongside the order-book figures; the price was not identified as a Hyperliquid quote.

Binance’s spot market also had greater sell-side than buy-side depth, but its sell-side depth was far smaller than Hyperliquid’s perpetual market. The two readings cover different products: perpetual contracts on Hyperliquid and spot trading on Binance. The snapshot did not include a dollar figure for Binance’s imbalance.

The figures measure the dollar value of posted depth on each side of the book, not the number of individual orders. A large buy or sell order may affect thinner books first, making price moves more pronounced. TokenPost previously covered a separate Bitcoin spot order-book snapshot on Coinbase.