Traders on Hyperliquid bet on private companies before they list. HyperBook turns those markets into an open, live view of IPO demand, and checks how close they came on past deals.
days until Anthropic's expected Nasdaq listing on November 20
in open bets across every pre-IPO market on Hyperliquid, live
how far below the perp's prior-day close each US IPO priced
Hyperliquid perps let traders bet on private companies before they list.
Live prices, volume and open interest for every pre-IPO perp, plus Anthropic's price chart.
Open markets →The live order book drawn as a demand curve: how much money wants in, and at what price.
Open demand →How the perp's price compared with the IPO price and first trade on every deal so far.
Open track record →One book of orders, five ways to hand out shares: from a banker's judgment to the formulas onchain sales use.
Open the lab →Two venues quote the same bet in different units: one as a price per share, the other as the company's total value in billions of dollars.
Open interest is the dollar value of bets still open. Where it is small, one trader can move the price, so treat those quotes as weak signals.
| Company | Venue | Price | 24h | Last 30 days | 24h volume | Open interest | Max leverage | Status |
|---|---|---|---|---|---|---|---|---|
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Live from Hyperliquid Prices stream as they change; sparklines refresh every 10 minutes.
Every resting buy order on a market is a statement like "I'll buy this much, at this price or lower." Stacked up, they form a demand curve: the open, live version of the book a banker builds before an IPO. Sell orders show the supply on the other side.
Live order book Streams as orders change. Hyperliquid groups orders into price steps and returns the 20 nearest steps on each side.
Read it like a banker's book: how much money would buy if the price fell to each level.
| At or below | Orders at this step | Total demand |
|---|
When an IPO is oversubscribed, someone decides who gets shares. Bankers do it with judgment. Onchain sales publish a formula instead. Same book of orders, five rules: see who wins under each.
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Example book Invented investors for illustration. Edit any cell. Orders with a max price below the offer price drop out. The book is open for 72 hours.
| Investor | Holding style | Order ($M) | Max price ($) | Hour placed |
|---|
Share of the raise by holding style under each rule.
| Rule | How it works | Investors filled | To long-term holders | To the top 3 | Smallest order filled |
|---|
Percent of each order filled. Rules are simplified versions of what each platform has published; real sales add caps, KYC tiers and discretion.
Each row starts at the IPO price. The dots show how far above it the perp closed the day before listing, and where the stock actually first traded.
| Company | Listed | Perp | IPO | Open | IPO below perp |
|---|
Published figures US dollars per share. Perp is the daily close (UTC) the day before listing, from Hyperliquid's candle history.
Hyperliquid also lists perps for tokens before they launch. These public sales ran on onchain platforms, so the sale price, the perp and the first day of trading can all be compared directly.
| Token | Sold on | Listed | Sale price | Perp, day before | Listing-day close | Sale below perp | Listing day vs sale |
|---|
Published sale prices Hyperliquid daily candles Perp and listing-day prices are Hyperliquid daily closes (UTC). Sales happened days to months before listing (Plasma's sale even predates its perp), so "sale below perp" compares the sale price with the perp's last price before listing. Every token closed its first day above its sale price.
These perps were quoted in US dollars while the shares listed in local currency, so this shows only how each stock opened against its own offer price.
| Company | Exchange | Listed | IPO price | First open | Open vs IPO | What happened |
|---|
Published figures A dash means no reliable figure was found.