Introducing Real-Time Data Streams — Give your infrastructure a direct streaming line to any event happening on Hyperliquid. Read more →

Introducing Real-Time Data Streams — Give your infrastructure a direct streaming line to any event happening on Hyperliquid. Read more →

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Order Book

An order book is a list of all open buy and sell orders at every price level on an exchange. Centralized exchanges have always used order books; on-chain venues have mostly stuck to AMMs because maintaining an order book on a public blockchain is hard. Hyperliquid is one of the few chains that runs a full order book on-chain with throughput close to centralized venues.

See also: Liquidity Pool, Market Order, Perpetual Futures.

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