We run algorithmic trading systems on Hyperliquid and adjacent on-chain perps venues.
The trading book is small and trades our own capital. The goal at this stage is simple: compound a verifiable track record on a venue where most professional systematic shops haven't shown up yet, and build the execution infrastructure that comes with running serious size there. Once the numbers justify it, we take outside capital.
Perps DEXes have grown into a multi-billion-dollar daily-volume category, with Hyperliquid the largest by a wide margin. The participant base is mostly retail and a handful of crypto-native funds. The depth of professional automated participation is years behind centralized venues like Binance or CME.
The rails themselves are now good enough for serious algo work — Hyperliquid runs a fully on-chain order book with sub-second block times and competitive fees. Inefficiencies that disappeared from major CEXes years ago are still visible here on a daily basis: funding rate dislocations, liquidation cascades that overshoot, cross-venue basis that takes minutes rather than seconds to converge.
This window is finite. Real quant shops will arrive within 24 to 36 months and compress the available edge to CEX-comparable levels. We are trying to be among the first systematic operators to run at meaningful size while it lasts.
Each strategy is independently developed, individually capacity-constrained, and run under hard portfolio-level risk limits. The current book includes:
Cross-venue exploitation of funding-rate dislocations between perps DEXes and centralized perps. Delta-neutral. Capacity scales with available counter-leg liquidity.
Statistical models on liquid majors at minute-to-hour timeframes. Inputs include order-book microstructure, funding state, and cross-venue lead-lag relationships.
Position management around forecastable liquidation cascades. Both defensive (avoiding being on the wrong side) and opportunistic (providing liquidity into the overshoot).
At this stage, the only thing that matters is live performance on real capital. Every trade is auditable on-chain. We're happy to walk through any line of this on a call.
The arc is small and incremental. Each step has to earn the next.
Run the existing book. Add strategies as edge is identified. Build the track record that makes everything downstream possible. This is the only step that exists today.
Once the live track record justifies it, accept allocations from crypto-native LPs and family offices. Structured as a fund with standard terms. This is where the company becomes a business rather than a personal balance sheet.
The execution, risk, and monitoring stack we built for our own book gets exposed as a service for other algo teams operating on perps DEXes. Optional, and only if the underlying systems prove themselves on our own flow first.
We are at step one. We're open to conversations with prospective LPs, technical collaborators, and operators who know this category.