pyperliquidity 0.2.2

Off-chain HIP-2 Hyperliquidity market maker for Hyperliquid spot markets

pyperliquidity

A Python implementation of HIP-2 "Hyperliquidity" market-making algorithm. While HIP-2's logic runs fully on-chain, certain spot markets (especially bridged assets) are unable to use this feature. pyperliquidity recovers HIP-2 behavior using an off-chain market maker.

Core concept: Uniswap V2 / infinite-range liquidity pools, but on an order book.

Installation

pip install pyperliquidity

For development:

git clone https://github.com/AlliedToasters/pyperliquidity.git
cd pyperliquidity
python3 -m venv .venv
.venv/bin/pip install -e ".[dev]"

Quick Start

1. Create a config file — copy and edit the example:

cp config.example.toml config.toml

Key parameters in config.toml:

[strategy]
coin = "@1434"          # Spot pair symbol
start_px = 0.01         # Initial price (bottom of the grid)
n_orders = 100          # Number of price levels
order_sz = 1000.0       # Tokens per tranche

[allocation]
allocated_token = 1000.0
allocated_usdc = 500.0

2. Set environment variables for your Hyperliquid wallet:

export PYPERLIQUIDITY_PRIVATE_KEY="0x..."
export PYPERLIQUIDITY_WALLET="0x..."

3. Run the market maker:

pyperliquidity run --config config.toml

See config.example.toml for all available parameters including tuning, rate limit, and reconciliation settings.

Architecture

WebSocket Feeds ──► StateManager ──► QuotingEngine ──► OrderDiffer ──► BatchEmitter ──► API
     ▲                (single source      (pure math,     (dead zone +     (budget-aware,   │
     │                 of truth)           no I/O)         level-index      prioritized)     │
     └──────────── orderUpdates / userFills / webData2 ──────────────────────────────────────┘

• QuotingEngine — pure math, no I/O. Translates inventory position on a geometric price grid into desired orders.
• OrderDiffer — dead-zone filtering and tolerance checks to minimize unnecessary API calls.
• BatchEmitter — budget-aware, prioritized order emission that respects Hyperliquid's rate limit model.
• WsState — WebSocket-first state management with periodic REST reconciliation.

Development

This project uses OpenSpec for spec-driven development. Domain specs live in openspec/specs/.

.venv/bin/pytest              # Run tests
.venv/bin/mypy src/           # Type check
.venv/bin/ruff check src/     # Lint

License

MIT