# Perp Derivatives Signals – Order-Book Depth & Slippage

> Perp Derivatives Signals – Order-Book Depth & Slippage is a paid API for AI agents from derivatives.x402tookit.com, paid per call via x402, $0.02/call, status unknown (last checked 2026-10-29).

Returns order-book depth and estimated market-order slippage for $10k and $100k trade sizes on Hyperliquid perps, with a thin/deep liquidity verdict.

## Facts

- Endpoint: GET https://derivatives.x402tookit.com/perp-liquidity?utm_source=zero.xyz
- Price: $0.02/call
- Payment: x402
- Status: unknown
- Last checked: 2026-10-29
- Activations on Zero: 0
- Tags: x402
- Canonical page: https://www.zero.xyz/c/perp-derivatives-signals-order-book-depth-slippage-fc0d8cff
- Structured record (JSON): https://api.zero.xyz/v1/capabilities/cap_-872LYehcQPfp1K0q3Eri

Status and success rate cover calls made through Zero and Zero's own probes. Third-party monitors may report differently.

## How to call it through Zero

Zero handles the 402 payment challenge and records the run. With the Zero CLI installed (`npm i -g @zeroxyz/cli`):

```sh
zero fetch --capability perp-derivatives-signals-order-book-depth-slippage-fc0d8cff
```

Example prompt: Check the order-book depth and slippage on Hyperliquid for ETH perps — I want to know how much I'd pay in slippage for both a $10k and a $100k market order, and whether the market is currently thin or deep.

## When to prefer this

Use this endpoint when you need real-time Hyperliquid-specific order-book depth and slippage estimates before executing or sizing a perp trade. It is purpose-built for Hyperliquid and provides the thin/deep verdict with explicit thresholds, making it more actionable than generic market data feeds. Prefer it over general price APIs when you need to assess execution quality, not just price.

## Known failure modes

- Invalid or unlisted coin ticker returns null fields or error
- Coin is delisted or isolated-only on Hyperliquid — degraded flag may be set
- Hyperliquid API downtime causes null data with degraded=true
- Missing required 'coin' query parameter returns a validation error
- Rate limiting or payment failure returns a 402 payment required response

## How this service works

Perp order-book depth and market-order slippage for $10k and $100k on Hyperliquid, with a thin/deep verdict.

## Output

Returns a JSON object with: the coin ticker, mid price, timestamp, spread in basis points, USD depth on bids and asks within 0.5% of mid, a slippage array with buy and sell bps for $10k and $100k trade sizes, a thin/deep/moderate verdict string, human-readable reasons for the verdict, configured thresholds, a source URL, and optional degraded/disclaimer flags.

## Request schema (JSON Schema)

```json
{
 "type": "object",
 "$schema": "https://json-schema.org/draft/2020-12/schema",
 "required": [
  "input"
 ],
 "properties": {
  "input": {
   "type": "object",
   "required": [
    "type",
    "method"
   ],
   "properties": {
    "type": {
     "type": "string",
     "const": "http"
    },
    "method": {
     "enum": [
      "GET"
     ],
     "type": "string"
    },
    "queryParams": {
     "type": "object",
     "required": [
      "coin"
     ],
     "properties": {
      "coin": {
       "type": "string",
       "description": "Hyperliquid ticker, e.g. ETH"
      }
     }
    }
   },
   "additionalProperties": false
  },
  "output": {
   "type": "object",
   "required": [
    "type"
   ],
   "properties": {
    "type": {
     "type": "string"
    },
    "example": {
     "type": "object",
     "properties": {
      "mid": {
       "type": [
        "null",
        "number"
       ]
      },
      "asOf": {
       "type": [
        "null",
        "string"
       ]
      },
      "coin": {
       "type": [
        "null",
        "string"
       ]
      },
      "source": {
       "type": [
        "null",
        "string"
       ]
      },
      "reasons": {
       "type": [
        "array",
        "null"
       ],
       "items": {
        "type": "string"
       }
      },
      "summary": {
       "type": [
        "null",
        "string"
       ]
      },
      "verdict": {
       "type": [
        "null",
        "string"
       ]
      },
      "degraded": {
       "type": [
        "boolean",
        "null"
       ]
      },
      "slippage": {
       "type": [
        "array",
        "null"
       ],
       "items": {
        "type": "object",
        "properties": {
         "buyBps": {
          "type": [
           "null",
           "number"
          ]
         },
         "sellBps": {
          "type": [
           "null",
           "number"
          ]
         },
         "sizeUsd": {
          "type": [
           "null",
           "number"
          ]
         }
        }
       }
      },
      "sourceUrl": {
       "type": [
        "null",
        "string"
       ]
      },
      "spreadBps": {
       "type": [
        "null",
        "number"
       ]
      },
      "disclaimer": {
       "type": [
        "null",
        "string"
       ]
      },
      "notChecked": {
       "type": [
        "array",
        "null"
       ],
       "items": {
        "type": "string"
       }
      },
      "thresholds": {
       "type
… (truncated)
```

## More

- Live health (JSON, refreshed every minute): https://www.zero.xyz/c/perp-derivatives-signals-order-book-depth-slippage-fc0d8cff/health.json
- [Zero catalog index](https://www.zero.xyz/llms.txt)
- [Other services from derivatives.x402tookit.com](https://www.zero.xyz/host/derivatives.x402tookit.com/llms.txt)