Execution Referee working title

Staging build · HYPE/USDC · recorded every minute

Who gave the best fill?

HYPE trades on HyperCore's order book and on HyperEVM pools, and from 9 November on Elysium. Each venue quotes itself. We price the same order on every venue, fees included, sign the result, and grade real fills against it.

The Tape HYPE in USDC

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All-in price includes the venue fee. Bars show how far each venue sits from the best price for this side and size: shorter is better. Pool prices assume the liquidity in range now; very large orders may fill worse.

Grade a fill

Paste a HyperEVM transaction that swapped HYPE through a pool on the Tape. For a HyperCore spot fill, also give the address that traded: HyperCore fills are looked up by trader.

Fills can only be graded against a Tape we recorded within two minutes of them. v0 covers HYPE/USDC only.

Method

HyperCore

We walk the HYPE/USDC spot book level by level for the full order, then add the base-tier taker fee of 0.070% from Hyperliquid's fee schedule. Traders on better fee tiers pay less; their graded fills use the fee they actually paid.

HyperEVM pools

We read each pool's current price, in-range liquidity and live fee from the chain, and price the order inside that range. Nest's fee changes over time, so we read it every minute.

Grades

A fill's all-in price is compared with the best all-in price on the Tape row closest in time and size. A: within 2 bps of best. B: within 10. C: within 30. D: worse. A negative number means the fill beat the Tape.

Signatures

Every Tape row and every receipt is signed (EIP-712) by one key whose address is published at /api/signer. Anyone can check that a quoted number is the one we published.

API

Free while this is a staging build. Agent tools over MCP and paid calls over x402 come next.

GET /api/tape
Latest signed Tape: every venue, size and side.
POST /api/receipt
{"hash": "0x...", "user": "0x... (HyperCore only)"} returns a signed grade.
POST /api/verify
{"attestation": {...}, "body": {...}} checks a digest and signature.
GET /api/signer
The signing address and EIP-712 types.