CME vs Hyperliquid Positioning Divergence - BTC & ETH, weekly Parquet
Do regulated futures desks and the on-chain crowd agree on BTC and ETH? Weekly, for each: the z-score of CME non-commercial net positioning (from the CFTC Commitments of Traders, 3-year baseline), the z-score of Hyperliquid annualised funding (6-month baseline), and the divergence between them. A wide gap means CME speculators are leaning one way while on-chain funding leans the other - a cross-venue disagreement signal you can't get from either feed alone. Cross-source: CFTC COT (CME) × Hyperliquid on-chain funding.
Hyperliquid (on-chain perp DEX) + CFTC COT
cme_net_spec_z, hl_funding_z or divergence_z
Z-score (or z-score gap for divergence_z)