SMH on Trade.XYZ — funding rate, open interest and liquidation levels
Snapshot , refreshed hourly · Trade.XYZ · rank #76 of 104 by 24h volume
What the numbers say
SMH perpetuals trade at $562.530 on Trade.XYZ, a HIP-3 builder dex on Hyperliquid, down +2.06% over the last 24 hours. The market turned over $600.9K of notional in that window, which ranks it #76 of the 104 markets listed on Trade.XYZ. Maximum leverage is 20x.
Open interest stands at $3.27M against $600.9K of 24-hour volume, an open-interest-to-volume ratio of 5.44. Positioning is heavy relative to turnover: open interest that is not being recycled by daily volume has to unwind through the book, which is what turns an ordinary move into a squeeze.
Funding prints +0.00626% per hour (+0.150% per day, +54.8% annualised), so longs pay shorts. An annualised +54.8% is an expensive carry: it is the level at which the funding leg alone, not the direction, decides whether a held position makes money.
Applying the Buildix leverage distribution to $3.27M of open interest puts the tightest liquidation band at $555.030 for longs and $570.030 for shorts, 1.3% either side of the mark. A 5% drop from here would take an estimated $327.2K of long exposure into liquidation range; a 5% rally would do the same to about $327.2K of shorts. These are modelled clusters from open interest, not per-wallet liquidation prices — the live deep view fuses them with the real on-chain whale levels.
Cost of carry on a $10,000 SMH position
At +0.00626% per hour, holding $10,000 of notional costs a long the amounts below, assuming funding stays where it is. Hyperliquid settles every hour, so the rate can move before the position does.
| Holding period | Funding paid | % of notional |
|---|---|---|
| 1 hour | $0.63 | 0.0063% |
| 8 hours | $5.01 | 0.0501% |
| 24 hours | $15.02 | 0.1502% |
| 7 days | $105.13 | 1.0513% |
Estimated liquidation clusters
Hyperliquid does not publish per-wallet liquidation prices, so these bands come from the Buildix leverage model: $3.27M of open interest spread over the leverage distribution the platform uses everywhere else, split evenly between longs and shorts. Read them as where forced flow becomes likely, not as a promise that it happens.
| Leverage | Long liq. | Short liq. | Distance | Size / side |
|---|---|---|---|---|
| 75x | $555.030 | $570.030 | 1.3% | $81.8K |
| 37.5x | $547.529 | $577.531 | 2.7% | $245.4K |
| 17.5x | $530.385 | $594.675 | 5.7% | $490.7K |
| 7.5x | $487.526 | $637.534 | 13.3% | $817.9K |
Cascade estimate: a 5% move down puts about $327.2K of long exposure in range, a 5% move up about $327.2K of shorts.
The deep view streams CVD, order book imbalance, VPIN, the footprint chart and the on-chain liquidation heatmap for SMH in real time. This page stays public; the terminal is where an account starts.
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FAQ
What is the current SMH funding rate on Trade.XYZ?
SMH funding is +0.00626% per hour, which works out to +0.150% per day and +54.8% annualised. Longs pay shorts at that rate. Hyperliquid settles funding every hour, so the figure updates hourly.
How much open interest does SMH have?
Open interest on SMH is $3.27M, against $600.9K of notional traded in the last 24 hours — an open-interest-to-volume ratio of 5.44.
Where are the SMH liquidation levels?
The tightest modelled cluster sits at $555.030 for longs and $570.030 for shorts, about 1.3% from the $562.530 mark. A 5% move down would put roughly $327.2K of longs in range and a 5% move up roughly $327.2K of shorts. These are estimates derived from open interest and a leverage distribution, not per-wallet data.
Is this SMH data free?
Yes. This page is public and needs no account, and Buildix runs a free screener to start across 530+ Hyperliquid pairs. The live SMH deep view — orderflow, CVD, VPIN, footprint and the on-chain liquidation heatmap — is the part that asks you to sign in.
Price, funding, open interest and 24-hour volume are read from Hyperliquid's own metaAndAssetCtxs feed, cached by Buildix and refreshed on this page every hour. Liquidation bands are modelled from open interest, not observed positions. Nothing here is financial advice.