# EzPairs

> A decentralized pair trading platform built on Hyperliquid. EzPairs lets a
> user open, close and manage a long/short crypto pair position — going long one
> asset and short another — from a single interface, rather than managing two
> separate positions on a conventional perpetuals exchange.

## What it is

- **Pair trading interface.** A position expresses a view on the RELATIVE
  performance of two assets rather than on the direction of the wider market.
- **Built on Hyperliquid.** Orders execute against Hyperliquid's perpetuals
  markets. EzPairs constructs the pair; Hyperliquid provides the venue.
- **Non-custodial.** EzPairs does not hold user funds and has no access to
  private keys. Funds are held by Hyperliquid; wallets are managed through
  Privy embedded wallets.
- **No KYC** to access the interface.
- **Leverage is available**, which magnifies both gains and losses.

## Risk

Trading leveraged derivatives carries substantial risk, including the risk of
losing more than an initial deposit. A pair position is exposed to the relative
movement of two assets and can lose value whether the wider market rises or
falls. Nothing on this site is investment advice or a recommendation to enter
any position.

## Fees

A 0.05% trading fee is charged on each executed trade, deducted at the time of
the transaction. Access to the interface itself is free.

## Pair statistics — what /pairs contains

[https://www.ezpairs.xyz/pairs](https://www.ezpairs.xyz/pairs) is a directory of the pair markets this
site publishes figures for, one server-rendered page per market at
`/pairs/{base}-{quote}`. These pages are the substantive, machine-readable
part of the site.

No exchange quotes a synthetic pair directly, so there is no pair-level feed
anywhere. Every figure is computed from the two legs' own daily closes, taken
from the public Hyperliquid `/info` endpoint (`candleSnapshot` at 1-day
granularity, plus `metaAndAssetCtxs` for the hourly funding rate).

What the figures mean:

- **Correlation of daily returns** — Pearson correlation of the two legs' daily
  simple returns over the last N overlapping daily closes. Requested at 30, 90
  and 365 days.
- **Ratio** — the base leg's close divided by the quote leg's, at the most
  recent shared daily candle.
- **Position of the ratio in its own distribution** — how many standard
  deviations that single observation sat from the mean of the ratio over the
  window. A description of where one point fell, not a signal.
- **Annualised realised volatility** — population standard deviation of daily
  returns times the square root of 365, per leg.
- **Volatility ratio and beta** — 90-day statistics comparing the two legs.
- **Funding differential** — the gap between the two legs' hourly funding rates
  expressed on an annual basis. Point-in-time: it has no observation window and
  is not a running total.

Three things to know before quoting any of them:

1. **The window label is a request, not a fact.** A figure named 365-day was
   computed over however many overlapping daily closes actually existed, capped
   at 365. Each page states that count. A pair with 74 shared closes has a
   "365-day" correlation that is a 74-day correlation, and the page says so.
2. **Missing is not zero.** Where a statistic could not be measured — usually
   too little shared history — the page says "not measured" and states nothing.
   A correlation of 0 would assert that no linear relationship was observed;
   absence asserts nothing.
3. **Every figure is a description of a past window**, carries the timestamp it
   was computed at, and is not a forecast, a signal or a recommendation. Nothing
   on those pages tests whether any measured relationship persists.

## Key pages

- [Home](https://www.ezpairs.xyz/) — what the platform does
- [Pair markets](https://www.ezpairs.xyz/pairs) — directory of pair pages with correlation,
  ratio and volatility figures, and how to read them
- [Markets](https://www.ezpairs.xyz/assets) — every asset with published pair statistics, one
  page per market listing the pairs it appears in
- [Learn](https://www.ezpairs.xyz/learn) — guides to the mechanics: what a pair trade is, what
  statistical arbitrage describes, and how the commodity and pre-IPO perpetual
  markets on Hyperliquid are listed and funded. Definitions and market structure,
  with the observation window stated on every figure. No performance claims and no
  recommendations.
- [Trade](https://www.ezpairs.xyz/trade) — the trading interface
- [Terms of Use](https://www.ezpairs.xyz/terms) — eligibility and restricted territories
- [Privacy Policy](https://www.ezpairs.xyz/privacy-policy)
- [Documentation](https://ezpairs.gitbook.io/ezpairs)

## Contact

help@ezpairs.xyz