Key facts
- DoubleZero launched a dedicated market data feed for Hyperliquid.
- The feed provides professional trading firms with faster access to Hyperliquid's full order book.
- The service uses a fiber network instead of public APIs for data delivery.
- The feed includes Hyperliquid's native perpetual futures and markets operated by trade[XYZ].
- Hyperliquid's market data infrastructure now resembles traditional electronic exchanges.
- DoubleZero's service is the third venue available on its Edge market-data service.
DoubleZero has launched a dedicated market data feed for the decentralized exchange Hyperliquid, aiming to provide professional trading firms with faster and more consistent access to its full order book. The service utilizes a dedicated fiber network, bypassing public APIs to deliver a continuous, ordered stream of market data.
The feed includes Hyperliquid's native perpetual futures as well as markets operated by trade[XYZ], which leverages Hyperliquid's infrastructure for perpetual contracts on assets like oil, gold, and silver. DoubleZero stated that this new service is crucial for market makers, quantitative trading firms, and proprietary trading firms that require high-speed, reliable order book updates.
Previously, firms had to manually aggregate data from public API responses or run their own Hyperliquid nodes. DoubleZero noted that recent changes to Hyperliquid's public APIs have decreased the frequency and depth of available updates.
This development marks Hyperliquid's market data infrastructure evolving to mirror traditional electronic exchanges, according to Hyunsu Jung, CEO of Hyperion DeFi. Jung explained that major exchanges like CME and Nasdaq distribute professional market data over dedicated networks, a model DoubleZero's service now adopts for Hyperliquid. However, he cautioned that fundamental differences remain, as Hyperliquid executes trades on-chain, unlike the co-location capabilities of traditional exchanges. DoubleZero's service exclusively delivers market data and does not execute trades.
DoubleZero operates a global fiber network for rapid data transfer between participants in blockchain and other distributed systems. Hyperliquid is the third venue to be integrated into DoubleZero's Edge market-data service, following Solana and the prediction market Kalshi.