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Looks like the theory I had 3 months ago was pretty correct, LLP quotes directly from HL books (Hyperliquid goes "down" LLP quotes become 20bp+ wide)
@vnovakovski I those may not be LLP bids but are users - I also started putting in bids to unwind some carry trade stuff as it was getting cheap but curious nonetheless how the algo reacted to downtime on a source
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