BTC 4-Hour

# BTC 4-Hour Three binary markets on the Hyperliquid BTC perp expire together **every four hours on the hour**. The ladder settles from **the perp's own trades**, using the same 90-second size-weighted VWAP as [BTC Hourly](/markets/btc-hourly). ## At a glance | | | |---|---| | Question | Will BTC be above the strike at expiry? | | Settlement measure | The [perp trade stream](/price-feeds/perp), weighted by traded size | | Strikes | Three thresholds with $250 between adjacent rungs | | Rungs | 3 independent Yes/No markets sharing one expiry | | Cadence | `00:00`, `04:00`, `08:00`, `12:00`, `16:00`, and `20:00` UTC | | Lifetime | One four-hour round | | Settlement window | The 90 seconds ending exactly at expiry | | Payout | Yes if the settlement VWAP is strictly above the strike; equality pays No | | Concurrency | 3 markets — one per rung | | Deploy cost | 18 registrations/day — 3 rungs × 6 expiries | The former `:30` schedule has been replaced. The four-hour ladder and the hourly market can now share the same expiry instant. ## Strikes For the **October 28, 2026, 04:00 UTC** expiry, the live mainnet strikes were **$80,602 / $80,852 / $81,102**. This is a dated example: new rounds receive their own fixed thresholds. The middle need not be a multiple of $75. Each rung is an independent above-strike market. The $250 spacing is between strikes, not a range within which only one market wins. ## Naming and resolution The immutable on-chain market text names `perp:BTC`, “the Hyperliquid BTC perp trade price”, `seconds:90`, the threshold, and the exact expiry. Settlement is the same computation documented for [BTC Hourly](/markets/btc-hourly#resolution): every print in the final 90 seconds contributes to a size-weighted VWAP. There is no closeness band. A value above the strike pays Yes; a value at or below it pays No. Missing evidence retries and can resolve the market at 0.5, paying 0.50 USDC per token on each side, before fees. The settlement window never moves.