Perp Basis Monitor
The Perp Basis Monitor displays the live spread between a Hyperliquid perpetual mid and its corresponding AMM spot price, expressed in basis points. It is useful for observing the structural relationship between a HL perpetual and on-chain spot across all subscribed AMM venues.
Requires a Professional subscription or higher.
Opening the Widget
Click the Bs button on any Hyperliquid product row in the sidebar. The widget opens alongside
your DOM and T&S widgets. You can have one Perp Basis Monitor open per HL product.
What It Shows
| Element | Description |
|---|---|
| Live basis (bps) | (HL mid − spot mid) / spot mid × 10,000 — updated continuously |
| Per-venue spot mids | When multiple AMM venues are subscribed for the same pair, each venue’s spot mid is shown separately |
| Rolling basis chart | 200-point rolling history of basis bps |
| HL funding rate | Current Hyperliquid funding rate for this symbol, displayed as an hourly rate |
| Calculator | Enter a reference size to see notional value, estimated carry cost, and funding cost over a specified holding period |
Reading the Basis
A positive basis means the Hyperliquid perpetual mid is trading above the AMM spot mid. A negative basis means the perpetual is trading below spot.
The basis is related to the funding rate: when longs pay shorts (positive funding), the perpetual tends to trade at a premium to spot. When shorts pay longs (negative funding), the perpetual tends to trade at a discount. A persistent divergence between the observed basis and the funding rate may indicate structural flow or a temporary dislocation.
The per-venue display is useful when AMM pool prices diverge across venues — the basis value updates independently for each subscribed venue.
Spread Alert
A configurable spread alert fires when the absolute basis exceeds a user-defined threshold in basis points.
| Control | Description |
|---|---|
| Alert threshold (bps) | Absolute basis level required to trigger the alert |
| ON / OFF | Arms or disarms the alert |
| Cooldown | Minimum seconds between re-fires on a persistent condition |
When triggered: an audible in-browser chime plays, and a browser push notification fires if the tab is not in focus (requires one-time browser permission). Alert history shows recent fires with timestamp and observed basis value.
Availability
Available on Professional and API tiers. The Bs button is visible on all tiers
but inactive for Free users.