Under the hood
Asymmetric impact
Winning closes pass through a deadband, an impact haircut that depends only on the size of the move, and a 2% win fee. Losing closes skip all three. The parameters below are read from the deployed markets.
The steps
- Deadband. The exit used for the gain moves back toward the entry by entry ÷ 10,922 (in whole ticks, about 0.92 bp). A gain inside the band is zero.
- Impact. The remaining gain is multiplied by the retention share below.
- Win fee. 2% of what is left, split between stakers and the development fund.
The formula
move = |exit' − entry| / entry // exit' = exit after the deadband
term1 = 1 / (move × rateMult)
term2 = refNotional / (move × posMult × 10^6)
share = (1 − baseRate) / (1 + term1 + term2)
payout = gain × share × (1 − winFee)term2 uses a fixed reference notional instead of your position size, so the share is the same for any size. It is always below 1 − baseRate.
Interactive chart
What a winning trade keeps
- Price move
- +0.5%
- after impact
- 85.1%
- You keep
- 83.4%
Deployed parameters
| Market | baseRate | rateMult | refNotional | posMult ($M) | Deadband | Win fee |
|---|---|---|---|---|---|---|
| BTC | 10% | 15,000 | $100,000 | 814.598 | 0.92 bp | 2% |
| ETH | 10% | 15,000 | $100,000 | 483.979 | 2.88 bp | 2% |
| SOL | 10% | 15,000 | $100,000 | 463.021 | 5.5 bp | 2% |
| HYPE | 10% | 15,000 | $100,000 | 343.757 | 1.51 bp | 2% |
| DOGE | 10% | 15,000 | $100,000 | 376.209 | 2.52 bp | 2% |
| GOLD | 10% | 15,000 | $100,000 | 1,881.247 | 1.73 bp | 2% |
| ZEC | 10% | 15,000 | $100,000 | 183.827 | 7.09 bp | 2% |
| XRP | 10% | 15,000 | $100,000 | 364.829 | 6.02 bp | 2% |
| LINK | 10% | 15,000 | $100,000 | 351.697 | 7.05 bp | 2% |
| SUI | 10% | 15,000 | $100,000 | 268.302 | 9.93 bp | 2% |
| BNB | 10% | 15,000 | $100,000 | 874.158 | 2.19 bp | 2% |
| LTC | 10% | 15,000 | $100,000 | 446.122 | 5.34 bp | 2% |
| PAXG | 10% | 15,000 | $100,000 | 2,136.211 | 3.76 bp | 2% |
| TRX | 10% | 15,000 | $100,000 | 7,764.35 | 3.18 bp | 2% |
Properties
- Only wins are scaled. A loss is the loss.
- Larger moves keep more: on BTC +0.1% pays 66.3% of the raw gain and +1% pays 85.8%.
- It adds friction to tiny wins but is not a manipulation guard; the price guards are.
Values on this page are read from the HyperEVM mainnet deployment (chain 999, block 48891965) at build time.
Last updated 2026-10-18