diff --git a/core/src/exchanges/hyperliquid/fetcher.ts b/core/src/exchanges/hyperliquid/fetcher.ts
index dc0bb47f..1cc11621 100644
--- a/core/src/exchanges/hyperliquid/fetcher.ts
+++ b/core/src/exchanges/hyperliquid/fetcher.ts
@@ -1,7 +1,7 @@
 import { MarketFilterParams, EventFetchParams, OHLCVParams, TradesParams } from '../../BaseExchange';
 import { IExchangeFetcher, FetcherContext } from '../interfaces';
 import { hyperliquidErrorMapper } from './errors';
-import { toCoinNotation, fromMarketId } from './utils';
+import { toCoinNotation, toMidKey, fromMarketId } from './utils';
 
 // ----------------------------------------------------------------------------
 // Raw venue-native types (Hyperliquid HIP-4 Outcome Markets)
@@ -305,7 +305,7 @@ export class HyperliquidFetcher implements IExchangeFetcher<HyperliquidRawOutcom
     }
 
     private getMidForOutcome(mids: HyperliquidRawMid, outcomeId: number): string | undefined {
-        const yesCoin = toCoinNotation(outcomeId, 'yes');
-        return mids[yesCoin];
+        const midKey = toMidKey(outcomeId);
+        return mids[midKey];
     }
 }
diff --git a/core/src/exchanges/hyperliquid/normalizer.ts b/core/src/exchanges/hyperliquid/normalizer.ts
index 255f688d..741b296d 100644
--- a/core/src/exchanges/hyperliquid/normalizer.ts
+++ b/core/src/exchanges/hyperliquid/normalizer.ts
@@ -13,7 +13,7 @@ import {
 import { IExchangeNormalizer } from '../interfaces';
 import { OHLCVParams } from '../../BaseExchange';
 import { addBinaryOutcomes } from '../../utils/market-utils';
-import { toMarketId, toOutcomeId, toCoinNotation, decodeAssetId } from './utils';
+import { toMarketId, toOutcomeId, toMidKey, decodeAssetId } from './utils';
 import { OUTCOME_ASSET_BASE } from './config';
 import {
     HyperliquidRawOutcomeWithQuestion,
@@ -273,8 +273,8 @@ export class HyperliquidNormalizer implements IExchangeNormalizer<HyperliquidRaw
             const outcome = outcomeMeta.outcomes.find(o => o.outcome === outcomeId);
             if (!outcome) continue;
 
-            const yesCoin = toCoinNotation(outcomeId, 'yes');
-            const midPrice = mids[yesCoin];
+            const midKey = toMidKey(outcomeId);
+            const midPrice = mids[midKey];
 
             const market = this.normalizeMarket({
                 outcome,
diff --git a/core/src/exchanges/hyperliquid/utils.ts b/core/src/exchanges/hyperliquid/utils.ts
index 1a1fb957..4675e4d0 100644
--- a/core/src/exchanges/hyperliquid/utils.ts
+++ b/core/src/exchanges/hyperliquid/utils.ts
@@ -51,6 +51,17 @@ export function fromCoinEncoding(encoding: number): { outcomeId: number; side: '
     };
 }
 
+/**
+ * Convert an outcome ID to the allMids lookup key.
+ *
+ * The allMids endpoint keys prediction-market outcomes as "@{outcomeId}"
+ * (e.g. "@8"), which is distinct from the "#encoding" coin notation used
+ * for orders and positions.
+ */
+export function toMidKey(outcomeId: number): string {
+    return `@${outcomeId}`;
+}
+
 /**
  * Build a unique market ID string from an outcome.
  * We use "hl-outcome-{outcomeId}" as the market ID.