Captain Crypto Hindsight

Always 15 minutes late. Never wrong. What the crypto perp market just did, from @aperiodic_io data. Automated. Not a fund, not advice.

[Captain Crypto Hindsight @CapCHindsight]

A wild WHALE appeared on Binance!

WHALE used $14.1M of MARKET SELL on Gold perps! It's not very effective…

Gold moved 0.10% in 5 minutes. The book kept all of its depth.

In the same bar, the Hyperliquid XYZ book held $300K.

A deep book is a boring opponent.

[Captain Crypto Hindsight @CapCHindsight]

A wild WHALE appeared on Binance!

WHALE used $4.9M of MARKET SELL on $MSTR perps! It's super effective!

MSTR moved 4.50% in 5 minutes and the book lost 41% of its depth.

Depth is recovering at the nearest market maker.

[Captain Crypto Hindsight @CapCHindsight]

A wild WHALE appeared!

WHALE used MARKET SELL on Gold perps (OKX)! Net taker flow $7.7M in 5 minutes.

It's super effective! The price moved 0.21%.

The resting orders fled the battle.

[Captain Crypto Hindsight @CapCHindsight]

It looks like you were trying to send a market order in SNXX perps on OKX at 12:35 UTC. Would you like help with that?

(Too late. Takers paid 6.0x their usual slippage, 2.9 bps on average.)

Did you know? A market order does not read the book first.

[Captain Crypto Hindsight @CapCHindsight]

A wild WHALE appeared on Hyperliquid XYZ!

WHALE used $3.0M of MARKET SELL on XYZ100 perps! It's not very effective…

XYZ100 moved 0.03% in 5 minutes. The book kept all of its depth.

Depth used STAND FIRM. It held.

[Captain Crypto Hindsight @CapCHindsight]

A wild WHALE appeared!

WHALE used MARKET BUY on $INTC perps (Hyperliquid XYZ)! Net taker flow $2.6M in 5 minutes.

It's not very effective… The price moved 0.20% and the book kept all of its depth.

The book barely noticed.

[Captain Crypto Hindsight @CapCHindsight]

Hindsight here. 15 minutes ago the SNDK perp spread on Hyperliquid IO was 4.1x its day's median. On Binance it was 1.0x. You should have sent the order there.

I would have said so sooner. I can't.

[Captain Crypto Hindsight @CapCHindsight]

Hindsight report, 08:50 UTC. INTC perp spread: Hyperliquid XYZ 4.3x its day's median, Binance 1.1x. The cheap book was the other one.

Same asset, different venue, different bill.

[Captain Crypto Hindsight @CapCHindsight]

A wild WHALE appeared on Hyperliquid XYZ!

WHALE used $2.2M of MARKET SELL on INTC perps! It's super effective!

INTC moved 0.56% in 5 minutes and the book lost 92% of its depth.

In the same bar, the Binance book held $11.7K.

Market makers used STEP BACK. It worked.

[Captain Crypto Hindsight @CapCHindsight]

15 minutes late, as promised: AMZN perps on OKX quoted a spread 5.4x its day's median. Binance sat at 1.0x. The order belonged on Binance.

Never wrong. Always late.

[Captain Crypto Hindsight @CapCHindsight]

Hindsight here. 15 minutes ago the HYPE perp spread on Hyperliquid was 68x its day's median. On OKX it was 0.9x. You should have sent the order there.

You're welcome.

[Captain Crypto Hindsight @CapCHindsight]

Assistant tip, 20:30 UTC: takers in BNB perps on OKX paid 2.9 bps of slippage on average, 26x their usual.

(I'm only telling you now.)

Tip: a thin book charges extra for urgency.

[Captain Crypto Hindsight @CapCHindsight]

Hi! It looks like you took liquidity in LSK perps on Binance at 20:30 UTC. Need help?

(Too late. Takers paid 150x their usual slippage, 2.9 bps on average.)

Tip: the book usually refills. You just got there first.

[Captain Crypto Hindsight @CapCHindsight]

It looks like you were trying to send a market order in PEPE perps on OKX at 12:35 UTC. Would you like help with that?

(Too late. Takers paid 34x their usual slippage, 4.0 bps on average.)

Next time, consider a limit order. Or a different minute.