Over the past year I’ve slowly dropped the ball on mathematics in favour of engineering. As frontier labs race towards intelligence, I find my productive capacity best directed at building infrastructure for intelligence as opposed to intelligence itself.
My successful HFT and MFT over the years has been a combination of 20% timing 70% intuition and 10% mathematical reasoning. Often the math comes down to no more than undergrad-graduate level mathematics. More valuable was my intuition, sharpened against Socratic dialogue against LLMs. The math has always been that if synthesis were unlikely given my aptitude; comprehension was - going forward I see the bottleneck continuing in this direction.
On the other hand the ability to converge at interesting and simple solutions quickly continues to be valuable, made accessible via infrastructure I’ve built along the years.
However, as agents overtake me in its ability to marshal this infrastructure, my bottleneck now shifts to the performance engineering;
gossip (read) priority fees on hyperliquid are broken
currently the team that is benefitting the most is wintermute (insert fist shaking red emoji guy meme)
this is not publicly known but can be determined with certainty by mapping out transfers to labeled wallets from the top winner of the gossip priority fee auctions (they have won 79% of the slot 0 auctions in the past 24h)
tldr; wahhh wahhhh wahhh hl gossip priority, not fair. add more slots or scrap the gossip auction
my proposed solution:
1) increase gossip priority to 20 equal-priority slots
2) make it so winning an auction slot grants IP whitelisting to a foundation-run peering slot
i think this basically solves it and would likely *increase* total gossip priority fees
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some context
the purported intention, as stated in the docs, is to "reduce the need for market makers to hyper-optimize their infrastructure to remain competitive"
if you win the gossip auction slot, you get order book / node data 50ms (!!) faster than anyone else.
yes. one IP, across the *entire network*, gets the feeds 50ms faster. it's the whole ballgame
so in theory you could just buy the faster data slot instead of spending 10s of thousands monthly on high octane ec2 instances and [insert hft magic]
or you can do BOTH, which is what wintermute is doing
so despite the stated intentions it does the exact opposite and gives 1 wallet a dominant advantage over every other participant
further reducing the democratization of this mechanism is the fact that, practically speaking, you can only use a won gossip slot if you have a direct peering relationship with the foundation node.
multiple providers we work with couldn’t pass gossip priority benefits through to us without slowing their other peers (all independently confirmed this behavior - strange design)
and to get a foundation peering you to do 0.5% of the 14d HL maker volume (we don't quite meet this threshold so our application was rejected) as well as stake 10,000 HYPE ($780,000 here), or be like, a node service provider
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without revealing too much i can say with 100% certainty that wintermute has maxed out BOTH the infrastructure optimization + expenditure AND is monopolizing the gossip fee auction
they're spending on average $26,000 *per day* ($10M/yr) to win this auction
so rn they're just eating everyone else's lunch
and the only way that approach is economic is if you are MM at the scale that they are, which only a handful of wallets are doing
get ze arbs in!
quantpylib maintains QFEX connectivity using a connection pool that makes socket integration with QFEX feel seamless - preserving low latency with the familiar HTTP ergonomics
xitter.cf/QFEX/status/2113547077…
It's integration season at QFEX!
Install @HangukQuant 's python library for easy-to-use multi-exchange strategies with tutorials here -->
quantpylib.hangukquant.com/#…
It's integration season at QFEX!
Install @HangukQuant 's python library for easy-to-use multi-exchange strategies with tutorials here -->
quantpylib.hangukquant.com/#…
❗️
QFEX is LIVE on quantpylib. See thread for market making tutorial.
research.hangukquant.com/p/q…
Like @nayshins @Dub0x3A @BeatzXBT @OBS_flow @KlondikeFX @MarkBestForex have left us for better lands 🙇♂️
Kind of agree with this sentiment, hope to change to Following tab more often and interact with people so more signal shows up
Fintwit seems to be dormant? @macrocephalopod, @0xfdf, @moreproteinbars, @bennpeifert ,@KrisAbdelmessih are half asleep. @0xFaust12 has interesting posts. Maybe AI and the markets are keeping people busy. But also (maybe) there is a phase transition. When the random number of participants is below a critical threshold, interesting exchanges just don’t happen. Wondering if this applies to groups in the workplace. Reach a threshold, and creative output jumps. @stevenstrogatz is there a model for this?
(Ofc I might be wrong on fintwit but still.)
Headed to 🇯🇵 going to disneysea with gf
Last I went I accidentally spent 1k+ on a meal because I miscounted one zero
Very Not “this is my quant”
❗️
QFEX is LIVE on quantpylib. See thread for market making tutorial.
research.hangukquant.com/p/q…
Trying to spend more time with books and less time on the machines. It almost feels like they nerfed my thinking ability

















