DoubleZero has launched a dedicated market data feed for Hyperliquid, giving professional trading firms access to the decentralized exchange’s full order book over fiber rather than through its public APIs.
The feed includes Hyperliquid’s native perpetual futures and markets operated by trade[XYZ], which uses Hyperliquid’s infrastructure to offer perpetual contracts tied to assets including oil, gold and silver. The Hyperliquid feed was developed with validator operators and ecosystem partners including Hyperion DeFi, MAVAN and Kinetiq.
DoubleZero said the service delivers a continuous, ordered stream of market data for market makers, quantitative trading firms, and proprietary trading firms that need faster, more consistent order book updates.
Previously, firms seeking a complete view of Hyperliquid’s order book had to assemble the data themselves through public API responses or operate their own Hyperliquid nodes. DoubleZero said changes to Hyperliquid’s public APIs have reduced the frequency and depth of updates available through them.
DoubleZero operates a global fiber network designed to move data quickly between participants in blockchain networks and other distributed systems. Hyperliquid is the third venue available through its Edge market-data service, following Solana and prediction market Kalshi.
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Onchain market infrastructure starts to resemble traditional exchanges
Hyperliquid’s market data infrastructure is beginning to resemble what traditional electronic exchanges use as professional trading moves onchain, according to Hyperion DeFi CEO Hyunsu Jung.
Jung told Cointelegraph that CME, Nasdaq and other major exchanges distribute professional market data over dedicated networks, allowing automated trading firms to receive a consistent stream of ordered data at high speeds.
“Hyperliquid data can now be consumed through the same basic model: publish once, distribute simultaneously over dedicated fiber,” he said.
However, significant differences remain. Traditional exchanges allow trading firms to place their systems close to the infrastructure that processes trades, while Hyperliquid executes trades onchain. DoubleZero’s service only delivers market data; it does not place or execute trades for firms.
“So the convergence is not Hyperliquid becoming CME,” Jung said. “It is onchain markets adopting the market-data infrastructure that professional trading firms already use.”
“It does not eliminate latency differences,” Jung said. “A firm in Tokyo will still have a physical advantage over one in New York.”
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