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 ÷ 4,250 (in whole ticks, about 2.35 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
- 82.5%
- You keep
- 80.8%
Deployed parameters
| Market | baseRate | rateMult | refNotional | posMult ($M) | Deadband | Win fee |
|---|---|---|---|---|---|---|
| BTC | 10% | 15,000 | $100,000 | 814.598 | 2.35 bp | 2% |
| ETH | 10% | 15,000 | $100,000 | 483.979 | 10.18 bp | 2% |
| SOL | 10% | 15,000 | $100,000 | 463.021 | 20.49 bp | 2% |
| DOGE | 10% | 15,000 | $100,000 | 376.209 | 15.97 bp | 2% |
| WLD | 10% | 15,000 | $100,000 | 212.874 | 26.46 bp | 2% |
| ZRO | 10% | 15,000 | $100,000 | 214.776 | 23.09 bp | 2% |
| LIT | 10% | 15,000 | $100,000 | 212.86 | 34.72 bp | 2% |
| GOLD | 10% | 15,000 | $100,000 | 1,881.247 | 95.24 bp | 2% |
Properties
- Only wins are scaled. A loss is the loss.
- Larger moves keep more: on BTC +0.1% pays 54.1% of the raw gain and +1% pays 84.5%.
- 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 testnet deployment (chain 998, block 67249403) at build time.
Last updated 2026-10-18