HIP-4 no orderbook question. How can there be 321,489 No to be sold when the entire open interest is just 113,140 tokens?
HIP-4 no orderbook question. How can there be 321,489 No to be sold when the entire open interest is just 113,140 tokens?
2026-06-24 · Hyperliquid · 27 条相关讨论
HIP-4 no orderbook question. How can there be 321,489 No to be sold when the entire open interest is just 113,140 tokens?
HIP-4 no orderbook question. How can there be 321,489 No to be sold when the entire open interest is just 113,140 tokens?
The order books of Yes and No tokens for the same outcome are merged to share liquidity. For example, an order to buy Yes at price p is equivalent to an order to sell No at price 1-p.
The order books of Yes and No tokens for the same outcome are merged to share liquidity. For example, an order to buy Yes at price p is equivalent to an order to sell No at price 1-p.
aha, that makes a lot of sense! however, when No orderbook was switched to USDC, those tokens from Yes orderbook were accounted as having 312534$ value (price = 0.9999$, not 0.0001 as in reality for those Yes tokens) merging liquidity makes sense. USDC values in that merged orderbook don't look right
aha, that makes a lot of sense! however, when No orderbook was switched to USDC, those tokens from Yes orderbook were accounted as having 312534$ value (price = 0.9999$, not 0.0001 as in reality for those Yes tokens) merging liquidity makes sense. USDC values in that merged orderbook don't look right
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thats just literally how it works
thats just literally how it works
youve highlighted sz which stands for size
youve highlighted sz which stands for size
not usd
not usd
its that many No shares in the book
its that many No shares in the book
but those are Yes shares merged into shown No orderbook!
but those are Yes shares merged into shown No orderbook!
I am going back to bed
I am going back to bed
sz is number of shares, not USDC
sz is number of shares, not USDC
let's take this market as an example https://app.hyperliquid.xyz/trade/2026-world-cup-champion-argentina-yes there are 1M yes tokens in Yes orderbook at 0.01 with USDC value = 11,000 but when they appear in No orderbook they are accounted at 1,100,000 USDC value which is incorrect
let's take this market as an example https://app.hyperliquid.xyz/trade/2026-world-cup-champion-argentina-yes there are 1M yes tokens in Yes orderbook at 0.01 with USDC value = 11,000 but when they appear in No orderbook they are accounted at 1,100,000 USDC value which is incorrect
An order's notional value is literally its limit price multiplied by its size
An order's notional value is literally its limit price multiplied by its size
if the price is 0.999999 or basically 1, then its 1 times the size
if the price is 0.999999 or basically 1, then its 1 times the size
in No terms yes they have that much notional while in Yes terms they are worth near nothing
in No terms yes they have that much notional while in Yes terms they are worth near nothing
that makes complete sense
that makes complete sense
yep, and that appears to be wrong when Yes tokens are merged into No orderbook
yep, and that appears to be wrong when Yes tokens are merged into No orderbook
first of all, the order is probably at 0.00001, which means its a 11USDC buy order of YES
first of all, the order is probably at 0.00001, which means its a 11USDC buy order of YES
there's a selector between tokens and USDC (value)
there's a selector between tokens and USDC (value)
yeah, he bets 11USDC to win 1.1m USDC, if you are willing to take the opposite side of him (buy NO), you bet 1,099,989 to win his 11USDC
yeah, he bets 11USDC to win 1.1m USDC, if you are willing to take the opposite side of him (buy NO), you bet 1,099,989 to win his 11USDC