# SwanBluechip

> Perp DEX and stablecoin data from public sources: perpetual venues (Hyperliquid, Lighter, Extended, Variational and Pacifica) compared every hour on volume, open interest, fees, funding and spread; stablecoin supply, 24h change and depeg alerts. Hyperliquid ecosystem research (project catalog, TVL, HIP-3, ETFs) is kept as a secondary section.

## Read first

- [Home](https://swanbluechip.com/): the perp venue compare board and stablecoin numbers on one page.
- [Perp venues compared](https://swanbluechip.com/venues/): the full venue comparison and funding gaps.
- [Data and methodology](https://swanbluechip.com/methodology/): source coverage, timestamps, limitations and citation guidance.

## Perp DEX

- [Perp venues compared](https://swanbluechip.com/venues/): Hyperliquid, Lighter, Extended, Variational and Pacifica side by side: 24h volume, open interest, market count, taker and maker fees, funding per hour and spread for BTC, ETH, SOL and HYPE, and funding gaps after costs. Hourly.
- [Fee calculator](https://swanbluechip.com/venues/fees/): Your volume, priced on each venue.
- [Points programs](https://swanbluechip.com/venues/points/): Season status and cost per point.
- [Funding gaps](https://swanbluechip.com/venues/#gaps-sec): Funding-rate gaps between venues, ranked by a 7-day historical net estimate after taker fees and spread. Hourly.
- [Compare by coin](https://swanbluechip.com/venues/btc/): One page per asset (/venues/btc/, /venues/eth/, /venues/sol/, /venues/hype/ and more): every venue listing that asset, with funding history.
- [Weekly report](https://swanbluechip.com/weekly/perp-dex/): Every Monday: the week across perp venues.

## Traders

- [Trader outcomes](https://swanbluechip.com/traders/): Leaderboard wallets: who wins and who loses.
- [Wallet watch](https://swanbluechip.com/watch/): Up to 10 Hyperliquid, Lighter or Pacifica wallets: live fills, position changes and net positions, read in the browser.
- [Position tracker](https://swanbluechip.com/positions/): Hyperliquid and Lighter positions for any address, summed per asset, read in the browser.
- [Strategy Lab (beta)](https://swanbluechip.com/lab/): Research and statistics on labeled Hyperliquid wallets and simple strategies: training and validation results after costs, by market state, with sample sizes. Free during the beta, not trading advice.

## Stablecoins

- [Stablecoins on Hyperliquid](https://swanbluechip.com/stables/): Stablecoins on Hyperliquid L1: supply, market share and 7-day change.

## More: Hyperliquid ecosystem and research

- [Today](https://swanbluechip.com/today/): The latest ecosystem snapshot.
- [Live metrics](https://swanbluechip.com/dashboard/): Markets, TVL and chain activity.
- [Project map](https://swanbluechip.com/#ecosystem): 20 core Hyperliquid project listings with editorial scores, not the entire ecosystem (home page, "Hyperliquid ecosystem" section).
- [TVL map](https://swanbluechip.com/ecosystem/map/): Capital across the ecosystem.
- [Protocol TVL](https://swanbluechip.com/ecosystem/tvl/): Track individual protocols.
- [Chain TVL](https://swanbluechip.com/chain/): Hyperliquid chain overview.
- [HL perp markets](https://swanbluechip.com/markets/): Volume, open interest and funding.
- [HIP-3 builders](https://swanbluechip.com/hip3/): Builder-deployed perpetual markets.
- [HYPE ETFs](https://swanbluechip.com/etfs/): Listed products and market quotes.
- [HLP vault](https://swanbluechip.com/vaults/): Vault performance and context.
- [Lending & pool yields](https://swanbluechip.com/ecosystem/yields/): Protocol-reported opportunities.
- [Yield scanner](https://swanbluechip.com/yield-scan/): Compare rates across protocols.
- [HL alerts](https://swanbluechip.com/signals/): Extreme funding and TVL moves.
- [Weekly briefing](https://swanbluechip.com/weekly/): Weekly briefing (no issues published yet).
- [Editorial ratings](https://swanbluechip.com/bluechip/): How the curator sees each project.
- [Wallet explorer](https://swanbluechip.com/wallet/): Inspect a public wallet.
- [Compare projects](https://swanbluechip.com/compare/): Side-by-side protocol context.
- [Tools & watchlist](https://swanbluechip.com/directory/): Utilities, watchlist and archive.
- [Data & methodology](https://swanbluechip.com/methodology/): Sources, scope and limitations.

## Tools and projects under review

- [Outcome](https://swanbluechip.com/projects/outcome/): This tracker has no integrated HIP-4 market data. Kept on a watchlist rather than counted as a tracked live market or a confirmed farming opportunity.
- [Onyx](https://swanbluechip.com/projects/onyx/): The official site describes an active Hyperliquid-powered trading terminal. Replaces the former vague ecosystem entry.
- [Hyperdash](https://swanbluechip.com/projects/hyperdash/): Trading and analytics utility; compare separately from protocols with deposited capital.
- [Silhouette](https://swanbluechip.com/projects/silhouette/): Low measured activity: DefiLlama recorded about $12 in fees over the 30 days to September 30, 2026, with no day above $1 since August 31. Kept on the watchlist until trading activity is verified.
- [Theo](https://swanbluechip.com/projects/theo/): DefiLlama shows no Theo TVL on Hyperliquid (Ethereum and Monad only), and the official site now centres on thUSD, thBILL and thGOLD without mentioning Hyperliquid. Moved to the watchlist pending a verified Hyperliquid deployment; no score is asserted.
- [HyperSignals](https://swanbluechip.com/projects/hypersignals/): Trading signals utility; keep separate from protocol and yield rankings.
- [Stratium](https://swanbluechip.com/projects/stratium/): This tracker has no integrated HIP-4 market data. Product and incentive claims require verification before inclusion in the main tracker.
- [Questflow](https://swanbluechip.com/projects/questflow/): A general AI finance agent spanning multiple markets, rather than a Hyperliquid-native protocol. Listed as a tool without an assumed airdrop.
- [Hyper Bubbles](https://swanbluechip.com/projects/hyperbubbles/): Market visualization utility; TVL and farming rankings do not apply.
- [Dreamcash](https://swanbluechip.com/projects/dreamcash/): Official documentation identifies Dreamcash as a mobile interface for Hyperliquid. Listed as a trading tool; no protocol TVL or editorial score is assigned.
- [Rysk](https://swanbluechip.com/projects/rysk/): Official documentation confirms a live HyperEVM deployment. Added pending metric integration and editorial review; no TVL, yield or score is asserted by this listing.

## Public machine-readable resources

- [Perp venue snapshot JSON](https://swanbluechip.com/api/venues/summary): latest hourly venue figures, compare board and funding gaps
- [Venue fees JSON](https://swanbluechip.com/api/venues/fees)
- [Stablecoin summary JSON](https://swanbluechip.com/api/stables/summary): total supply, 24h change, Hyperliquid L1 supply, depeg alerts
- [Core catalog JSON](https://swanbluechip.com/api/projects)
- [Full catalog JSON](https://swanbluechip.com/api/projects?scope=all)
- [Sitemap](https://swanbluechip.com/sitemap.xml)
- [RSS news feed](https://swanbluechip.com/feed.xml)

## Interpretation

Venue figures are snapshots taken once an hour from each venue's public API; cite the venue, asset and the snapshot time shown on the page. Funding gaps are historical estimates after taker fees and spread, not trade signals. A depeg alert means the DefiLlama price was 100 bps or more below the peg in two consecutive readings, checked against a CoinGecko price. A project score is editorial opinion, not a financial metric or user-review average. Missing values are unknown, not zero. Retain stale-data notices. Incentive labels do not establish reward eligibility. A quote is not fund flow. Consult linked official sources. Public access does not grant ownership of third-party data.

Maintainer: [@0xcryptoswan](https://x.com/0xcryptoswan). Independent of Hyperliquid Labs and of every venue listed.