Quantitative Researcher

Hyperbolic Labs • San Francisco, CA

1d

About The Position

Compute is becoming a traded asset, and almost none of the market structure exists yet. There is no settled forward curve, no standard contract, no consensus on how to price optionality on a GPU-hour. We're building the financial layer of our marketplace, and we're looking for a Quantitative Researcher to own the modeling behind it.
You'll build the pricing models that set spot and term rates dynamically across GPU types and regions, hedge our compute portfolio using both conventional derivatives and non-traditional instruments, and design the options and futures structures that let customers and suppliers transfer compute risk. You'll also be our read on the market — where pricing is heading, what's tradable, and what we should be building next. This is early, unmapped work: you'll be defining the methodology rather than applying an existing one.

Requirements

• 5+ years in quantitative research, trading, or structuring, with hands-on experience building pricing or risk models that were actually traded on, not just backtested.
• Deep fluency in derivatives pricing and hedging — options, futures, forwards — and the ability to reason about instruments where no liquid market or clean volatility surface exists.
• Experience constructing hedges for a portfolio of physical or contracted assets, using both conventional derivatives and non-standard instruments.
• Dynamic pricing expertise: building models that set spot and term prices from supply, demand, and inventory signals in near real time.
• Strong programming skills in Python and comfort working directly with messy production data rather than a curated research dataset.
• Ability to structure new financial products from first principles, including contract design, settlement mechanics, and the assumptions underneath them.
• Clear communicator who can defend a model to finance, engineering, and commercial stakeholders and translate output into a decision.
• Comfortable operating with ambiguity, incomplete data, and no established playbook for the asset class.

Nice To Haves

• Experience in commodities, power, or energy markets.
• Background in market making, systematic trading, or structuring at a hedge fund, prop shop, bank, or exchange.
• Exposure to nascent or illiquid markets where you had to build the curve rather than consume it.
• Familiarity with GPU compute, AI infrastructure economics, or data center cost structures.
• Experience with crypto or other markets where compute, hashrate, or energy was the underlying.
• Advanced degree in a quantitative field, or equivalent demonstrated depth.

Responsibilities

• Build pricing models that set spot and term rates dynamically across GPU types and regions.
• Hedge our compute portfolio using both conventional derivatives and non-traditional instruments.
• Design options and futures structures that let customers and suppliers transfer compute risk.
• Act as the market read, analyzing pricing trends, tradability, and future product development.
• Define methodology for a new asset class rather than applying existing methods.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior