A GPU hour has a price. Nobody was quoting it.
Oil has Brent. Gas has Henry Hub. Freight has the Baltic Dry. Compute — the input everything in AI is built on — has a rate card per vendor and no benchmark at all. Node Hour measures one, publishes every input, and puts a market on top so the number can be traded rather than just read.
Compute is a market with no price
The problemEvery vendor quotes its own number
The same H100 hour costs different money at five clouds, and none of those numbers is the price. There is nothing to reference a contract against.
Buyers cannot hedge
A team that knows it needs 40,000 GPU-hours next quarter has no instrument to fix the cost. It can only pay whatever the rate card says on the day.
Sellers cannot forward-sell
Idle capacity earns nothing while it waits. Without a forward curve there is no way to sell next month's hours today.
Nobody publishes the history
Rate cards are overwritten in place. What an A100 hour cost last March is not recorded anywhere you can check.
How it works
Three layers, only two of them builtMeasure
Provider rate cards are polled through public APIs and normalised onto one canonical market per GPU class. Every input is published with its source and timestamp, so the index can be recomputed by anyone. See the inputs →
Offchain trading
A terminal with a book, a tape and a chart, priced off the index. Connect a wallet and a test account opens. Positions, PnL and fees are real arithmetic on play money — no deposit, no transaction. Open it →
Settle and deliver
Escrowed USDC, a claim redeemable for SSH on a real machine, slashing when a provider fails. This is the hard part and we have not built it. When we do, this page will say so — and the proof will be on chain, not in a paragraph.
Live markets
measured| Market | Provider SKU | VRAM | Index $/GPU·h | Per 1k hours | |
|---|---|---|---|---|---|
| Reading provider rate cards… | |||||
NODEH
The tokenNODEH is an ERC-20 on Ethereum. It pays for seasons and prizes on the terminal, and it votes on which GPU classes get a market. That is the whole list.
It is not a claim on revenue, a share, or a promise of return — there is no revenue to divide, and saying otherwise would be both false and the kind of claim that draws a regulator. When the protocol earns anything, the amount and the buyback transaction go on the token page with a link to the chain.