Key Points
- DoubleZero launched a dedicated fiber market-data feed for Hyperliquid, giving professional trading firms access to the exchange’s full order book outside its public API infrastructure.
- The feed provides a continuous, ordered stream of market data for market makers, quantitative trading firms and proprietary trading firms seeking faster and more consistent order-book updates.
- The launch reflects a growing convergence between onchain markets and the specialized market-data infrastructure traditionally used by professional electronic trading firms.
DoubleZero is bringing dedicated market-data infrastructure to Hyperliquid, giving professional trading firms a faster way to access the decentralized exchange’s full order book through a global fiber network.
The new feed provides Hyperliquid market data directly over dedicated fiber rather than relying on the exchange’s public APIs. DoubleZero said the service is designed for firms that require consistent, high-frequency access to ordered order-book updates.
The feed covers Hyperliquid’s native perpetual futures as well as markets operated by trade[XYZ], which uses Hyperliquid infrastructure to offer perpetual contracts linked to assets including oil, gold and silver.
DoubleZero Targets Professional Trading Firms
The dedicated feed was developed with Hyperliquid validator operators and ecosystem participants including Hyperion DeFi, MAVAN and Kinetiq.
DoubleZero said the service delivers a continuous and ordered stream of market data aimed at market makers, quantitative trading firms and proprietary trading firms.
These firms typically require reliable access to market data to update trading systems and maintain accurate views of order books. For onchain venues, obtaining that information can involve different infrastructure requirements than those used by traditional electronic exchanges.
Before the new service, firms seeking a complete view of Hyperliquid’s order book generally had to assemble information from public API responses or operate their own Hyperliquid nodes.
DoubleZero said changes to Hyperliquid’s public APIs have reduced the frequency and depth of updates available through those interfaces, increasing the importance of alternative infrastructure for firms requiring more comprehensive data.
Fiber Network Connects Onchain Markets
DoubleZero operates a global fiber network designed to transport data between participants in blockchain networks and other distributed systems.
Hyperliquid is the third venue available through DoubleZero’s Edge market-data service, following Solana and prediction-market platform Kalshi.
The service separates the distribution of market data from the underlying trading system. DoubleZero provides the data feed, while trading firms remain responsible for their own systems and execution infrastructure.
That distinction is important because the new service does not provide firms with a mechanism to place or execute trades on Hyperliquid.
Onchain Market Data Adopts Traditional Exchange Infrastructure
The development reflects similarities between the infrastructure emerging around onchain markets and the systems used by established electronic exchanges.
Hyunsu Jung, CEO of Hyperion DeFi, said major traditional exchanges such as CME and Nasdaq distribute professional market data through dedicated networks. Those systems provide automated trading firms with consistent, ordered streams of information at high speeds.
The DoubleZero feed applies a similar distribution model to Hyperliquid.
Rather than requiring every trading firm to independently retrieve and assemble market data, the dedicated network can distribute the information through a common infrastructure layer.
The development does not mean Hyperliquid is adopting the same trading architecture as a traditional exchange. Hyperliquid continues to execute trades onchain, while DoubleZero’s role is limited to delivering market data.
Physical Location Still Matters
Dedicated fiber infrastructure can reduce certain data-distribution bottlenecks, but it does not eliminate physical differences between trading firms.
The distance between a firm’s infrastructure and the systems processing or distributing market information can still affect how quickly data reaches that firm.
Jung noted that a firm operating from Tokyo could retain a physical latency advantage over a firm located in New York.
This means the convergence between traditional and onchain market infrastructure is primarily occurring at the market-data layer rather than eliminating the geographic factors that influence professional electronic trading.
Professional Trading Infrastructure Moves Onchain
The launch comes as professional trading firms increasingly interact with blockchain-based venues and demand infrastructure designed for more sophisticated market-making and quantitative strategies.
For decentralized exchanges, access to reliable and comprehensive market data is an important component of institutional-grade trading infrastructure.
DoubleZero’s expansion across Solana, Kalshi and now Hyperliquid also shows how dedicated network infrastructure is being applied across different types of blockchain-based markets.
The approach effectively creates a bridge between the data requirements of professional trading firms and the distributed architecture of onchain exchanges.
Outlook
DoubleZero’s Hyperliquid feed adds another layer of professional trading infrastructure to the onchain market. By distributing a continuous and ordered view of the exchange’s order book through dedicated fiber, the service addresses a specific requirement for firms that need consistent market data without relying solely on public APIs.
The development also highlights a broader trend in which onchain venues are adopting infrastructure concepts familiar from traditional electronic markets. While blockchain-based execution remains fundamentally different from conventional exchange systems, the surrounding market-data infrastructure is increasingly being built around the needs of professional trading firms.
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