Who Is Paying to Stay Long on Hyperliquid? Funding Rate Data Across 204 Pairs on Binance
Funding rate snapshot across all 230 Hyperliquid perpetuals vs Binance. 141 of 166 profitable cross-venue pairs show higher funding on HL. V…
Updates
All updates →Short notes and ship logs
$1.83M USDT sweep into USDD AuthGemJoin — mule offramp on TRON
A TRON wallet aggregates ~665K USDT from four sources over ~3 weeks, then routes 1.83M USDT into USDD’s AuthGemJoin5—classic aggregate, swap…
rsETH/wstETH: 72.7% price impact in 108 seconds — what the pool data shows
Block-by-block Bitquery data from the rsETH/wstETH Uniswap v3 pool on April 18, 2026 — a single high-gas transaction, a 72.7% price impact, …
TRON listener gossip: BFS + Haversine from public IPs
Many investigators miss that TRON listener IPs are public—simulate how gossip might spread using BFS and Haversine distances between nodes.
In-skill Stripe payments demo (OpenClaw / ClawHub)
Minimal skill + repo demo: paywall agent skills with Stripe Payment Links, email verification, and local receipt—fork and swap in your own p…
Solana Signals Feed: early DEX momentum before trending lists
Live DEXrabbit signal feeds for Solana DEXs and Polymarket on Polygon—RVOL, velocity, buyer surges, and price breakouts from 1h and 24h wind…
Spotlight
Fresh long-form work: a lead story and supporting picks from across the site.
AMM & LIQUIDITY
AMM & Liquidity — Crypto Market Microstructure Research
In-depth research on decentralized exchange mechanics, AMM design, liquidity provider strategies, and the mathematics of on-chain markets. How DEXs work, how LPs earn and lose, and how to build strategies around AMM mechanics.
MEV & BLOCK BUILDING
MEV & Block Building — Crypto Market Microstructure Research
Research on Maximal Extractable Value (MEV), block builder economics, proposer-builder separation, and the transaction supply chain on Ethereum. How value is extracted, who captures it, and what it means for market fairness.
ON-CHAIN INTELLIGENCE
On-Chain Intelligence — Crypto Market Microstructure Research
Research on blockchain forensics, on-chain observability, regime detection, transaction simulation, and analytical methods for understanding what's actually happening on-chain.
Latest
TRADING INFRASTRUCTURE
Trading Infrastructure — Crypto Market Microstructure Research
Research on order book design, execution engine architecture, latency optimization, and the hardware, software, and networking infrastructure behind crypto trading systems.
PERSPECTIVES
Perspectives — Crypto Market Microstructure Research
Opinionated takes on blockchain infrastructure, developer ecosystems, product strategy, and the edges of what quantitative thinking applies to. Essays at the intersection of markets, technology, and ideas.
AMM & LIQUIDITY
How to Build a Bonding Curve on Solana
Build a bonding curve from scratch on Solana using Anchor. Covers PDA design, fixed-point logistic map math, buy/sell instructions with royalties, and SPL token minting.
AMM & LIQUIDITY
Who Is Paying to Stay Long on Hyperliquid? Funding Rate Data Across 204 Pairs on Binance
A Python monitor that pulls live funding rates across all 230 Hyperliquid perpetuals and compares them against Binance. 141 of 166 cross-venue pairs skew the same direction. What the crowd is paying — and what the HIP-3 equity perp data actually shows.
AMM & LIQUIDITY
Big O Notation and Time Complexity Analysis for Uniswap V3 Smart Contracts
Big O time complexity analysis applied to Uniswap V3 smart contracts. How factory operations, pool lookups, and fee tier configuration scale as the protocol grows — and what it means for gas costs.
AMM & LIQUIDITY
Fading Toxic Flow: An Automated Mean-Reversion Strategy for DEX Liquidity Shocks
A microstructure alpha engine that detects isolated DEX liquidity shocks and systematically fades them, betting that temporary AMM price impacts revert to equilibrium. Full strategy design and implementation.
AMM & LIQUIDITY
C++ Trading - Building a DEX Market Maker: Simulating Uniswap V3 Liquidity Provision
How to build a DEX market maker in C++ that simulates Uniswap V3 liquidity provision in price bands, tracks fee earnings, and models how liquidity distribution changes as prices move.
AMM & LIQUIDITY
Aftershock: How rsETH/wstETH Liquidity and Price Moved in the Hours After April 18
What happened to rsETH/wstETH liquidity and price in the hours after April 18, 2026: a block-by-block onchain analysis of the ripple effects on a thin Uniswap v3 pool, including 72.7% price impact, 108-second recovery, and what the aftermath reveals about AMM behaviour under stress.
AMM & LIQUIDITY
Why Large Trades Fail on DEX - From 5% Slippage to 10% Price Crashes
Why institutional-scale trades fail on DEX: at $10M+ notional, DEX slippage hits 10% and stays there. Data-driven analysis of the liquidity ceiling that routes large orders to OTC desks instead of Uniswap.
MEV & BLOCK BUILDING
MEV Boost Relay Trade Profit Monitor: Tracking Builder Revenue from Private Mempool Trades
How to track MEV block builder revenue from private mempool trades. A literate programming dashboard that monitors balance changes across private mempool swaps and aggregates per-builder PnL statistics.
TRADING INFRASTRUCTURE
Building a Basic Order Book in C++
Step-by-step implementation of a basic order book in C++ with order matching, buy/sell queues, and real-time market depth. Foundation for building trading system infrastructure.
TRADING INFRASTRUCTURE
Colocation and Latency for Crypto Trading: Same-Provider vs Cross-Provider, Cross-Region
We benchmark latency from EC2 in Tokyo and US East 1 to AWS and GCP Europe endpoints using TCP/TLS timing. From AWS US East 1, connect time to AWS Europe is ~74–104 ms and to GCP Europe ~87–99 ms. From Tokyo to the same endpoints it is ~216–225 ms (AWS) and ~248–262 ms (GCP). Same provider is lower than cross-provider. Here's the methodology and how to run the script yourself.
TRADING INFRASTRUCTURE
Diagnosing and Fixing Kafka Consumer Connection Issues in Java
Diagnosing Kafka consumer connection failures in Java caused by IPv6/IPv4 dual-stack networking conflicts. Covers cryptic authentication errors, Maven dependency resolution bugs, and systematic fixes.
TRADING INFRASTRUCTURE
6 ML Model Mistakes People Make With Crypto Data (And How to Fix Them)
Most crypto ML models fail before training ends. Here are the six mistakes killing model performance: raw inputs, wrong architectures, bad targets, and more.
TRADING INFRASTRUCTURE
Building an Order Execution Engine: Simulating EVM-Based Trading
Building an advanced order execution engine in C++ that simulates EVM-based trading, with order matching, fill prices, gas cost tracking, and slippage metrics — critical for evaluating trading performance.
TRADING INFRASTRUCTURE
Is Python Too Slow for Crypto Trading? We Ran the Numbers.
Everyone says Python is too slow for trading. We benchmarked pure Python vs NumPy vs Pandas on 1M rows, then compared the results to actual on-chain block times. The answer depends entirely on which chain you're trading.
ON-CHAIN INTELLIGENCE
Blockchain Data Observability: When Your Data Pipeline Goes Offline
How to build an observability pipeline for blockchain data infrastructure using OpenTelemetry. Covers metrics, logs, and traces for Solana trading bots and node operators to detect stale feeds and pipeline failures.
ON-CHAIN INTELLIGENCE
Using Onchain Trades to Identify Regime Changes and Stationarity of Financial Data
How to use on-chain DEX trade data to detect regime changes and test stationarity of financial time series. Covers flow-to-volume ratios, ADF tests, and how to avoid training ML models on non-stationary data.
ON-CHAIN INTELLIGENCE
Google Dorks for Smart Contract Security: Finding Vulnerabilities Before They're Exploited
Using Google Dorking to find exposed smart contract vulnerabilities before attackers do. Practical search queries for auditors and security researchers, with a video walkthrough.
ON-CHAIN INTELLIGENCE
Hedgey Finance Exploit: Six Months Later, Lessons Learned, and Code Revamped
Six months after the Hedgey Finance exploit ($2M lost on Ethereum + Arbitrum BONUS tokens), a post-mortem on the ClaimCampaigns.sol vulnerability, what was learned, and how the code was revamped.
ON-CHAIN INTELLIGENCE
Four Addresses, Unlimited Authority! This Test Code Snippet Halted Polygon Nodes on Dec 18, 2025
A hard-coded test exception allowing four addresses to bypass validator rules halted Polygon Bor nodes on December 18, 2025. Analysis of the consensus failure, the patch, and what it reveals about validator set security.
ON-CHAIN INTELLIGENCE
Mule Detection on Realtime TRON Streams
Structural mule detection on a live TRON transfer stream: fan-in and fan-out clusters, a causal gate that separates mules from market makers, and a 0 to 99 risk score. Includes the math and links the deployed TRON mule detector.
ON-CHAIN INTELLIGENCE
How to Track the Internet with Shodan API
A hands-on tutorial for using the Shodan API to query internet-connected devices, analyze network infrastructure, and understand security postures across global internet exposure data.
ON-CHAIN INTELLIGENCE
The End of EOAs? How RIP-7212 Changes Everything
RIP-7212 introduces secp256r1 precompile support on Ethereum rollups, enabling hardware-backed signatures and passkey-based account abstraction. Here's what changes and why it matters.
ON-CHAIN INTELLIGENCE
Tornado Cash Intelligent Demixer: Transaction Attribution Through Behavioral Analysis
A proof-of-concept algorithm that matches Tornado Cash deposits to withdrawals using a 4-point behavioral scoring system. Demonstrates how transaction attribution can break mixer privacy guarantees.
ON-CHAIN INTELLIGENCE
Simulating a TRON Transaction's Gossip Trace from Public Listener IPs
A TRON transaction spreads across the network the same way a rumor spreads across a crowded room. This post takes 7,637 public TRON listener IPs from the TronScan nodemap, connects listeners within 800 km using the haversine formula, and walks a synchronous BFS wavefront outward from a synthetic Frankfurt origin — reaching 3,380 nodes in eight hops with visible geographic chokepoints and isolated islands. Covers what raw listener IPs reveal once paired with coordinates, and the random geometric graph and percolation mathematics underneath.
EXPLORATION
Wait a minute... There's research on Chaos Theory and the COVID-19
Research overview on applying chaos theory to COVID-19 epidemic modelling. How non-linear dynamics and chaotic systems explain pandemic spread patterns that classical epidemiology misses.
PERSPECTIVES
Weighing in on AI Content Detection Tools - sorry, I don't believe them
AI content detectors flagged Forbes articles as AI-written. A practitioner's critique of why AI detection tools are unreliable — with tests showing the same writing style produces opposite verdicts.
PERSPECTIVES
Building a GTM Strategy for Products Across Multiple Segments ( Small Developer Teams, Enterpise, Goverments etc)
Building a go-to-market strategy for developer products across small teams, enterprise, and government segments. Practical frameworks from experience launching technical products with multiple customer profiles.
EXPLORATION
Life and Human Behaviour as a Fractal
An exploration of human behaviour and life patterns as fractal structures, self-similar systems repeating at different scales. A mathematical lens on personal change and decision-making.
PERSPECTIVES
Update: An onchain market intelligence layer (Bitquery + OpenClaw)
Short note on running an AI agent on Bitquery streams for continuous market intelligence: skills, agent workflow, and links to code.
PERSPECTIVES
Reddit IPO and the Complete Story of Reddit API - Why Subreddits Went Dark
The full story of Reddit's API pricing controversy in 2023: how monetization plans ahead of the IPO triggered a developer revolt, subreddit blackouts, and a breakdown in the platform-developer relationship.
PERSPECTIVES
How to Become a Good Support Engineer as a DevRel
Hard-won lessons from DevRel: why the best developer advocates solve problems over chasing visibility, how to pick high-impact projects, and what makes support engineering effective at scale.