SNDK pairs

Its reference sits in the memory-chip industry, which several other listings on this venue also reference, so a pair built from two of them is a pair inside one industry rather than across two. The perpetual itself trades continuously on Hyperliquid, while the market it is named for has defined session hours and closes at weekends. That mismatch is a structural property of the contract, not a defect: price discovery outside those hours happens in the perpetual alone.

• In the venue snapshot taken 30 July 2026, it was the second-largest of the 88 markets on the xyz builder dex by 24-hour notional volume, at $943.3M — and the fifth-largest by open interest, at $205.6M.
• Over the 90 daily closes to 30 July 2026, its annualised realised volatility was measured at 131.4% — the second-highest of the 20 markets described on this site that carry a full 90-day measurement. That describes the window measured and is not a claim about what it does next.
• Its 10x leverage cap is the lowest of the 22 markets described on this site, a level it shares with 6 other markets here — a property of the venue's risk parameters rather than of what the market references. Venue snapshot taken 30 July 2026.