Rulebook

Overview

Hypernova is a permissionless prop trading protocol built on-chain. We fund skilled traders with capital to trade perpetual futures across crypto and TradFi markets — no personal deposit required beyond the assessment fee.

Pass a 1-step assessment. Get funded immediately. Keep up to 80% of your profits. All payouts are executed via smart contract and verifiable on-chain.

Assessment configurations

All assessments are 1-step. Choose your account size, your market access, and your risk tier. Each tier is designed for a different type of trader.

Tight risk — fee schedule

Low risk — fee schedule

Medium risk — fee schedule

High risk — fee schedule

Definitions

Balance

Total account value based on closed (realised) P&L only. Does not include floating positions.

Equity

Real-time account value including both closed P&L and the floating (unrealised) P&L of all open positions. Equity = Balance + Unrealised P&L.

Equity limit

A predefined equity level. If your account equity reaches or falls to this level, a breach is triggered immediately.

Breach

The automatic closure of all open positions and permanent termination of the account. A breached account cannot be recovered, reset, or appealed.

Profit target

The balance growth required to pass the assessment, expressed as a percentage of starting balance. Applies only during the assessment stage.

Starting balance

The initial account size at activation. Used as the fixed reference for all static drawdown calculations.

Equity limits

Every Hypernova account has two equity limits active at all times, in both the assessment and funded stages:

• Maximum daily loss — a daily equity limit recalculated every day at 00:00 UTC.
• Maximum drawdown — a static overall equity limit set once at account creation. It never moves.

Both limits are equity-based — they account for open floating positions, not just closed trades.

Max daily loss

The daily loss limit sets a floor for how much your account equity can decline within a single calendar day.

At 00:00 UTC each day, the system takes a snapshot of your account balance (cash + realised P&L, excluding floating positions). The daily loss equity limit for the next 24 hours is then calculated as:

• The daily limit resets every day at 00:00 UTC. It is not fixed.
• If your balance grows, your daily equity limit rises — giving you more room the next day. If it falls, the limit falls too.
• Calculation is based on balance (closed P&L), but enforcement is equity-based (includes open positions).

Max drawdown

The maximum drawdown sets an absolute floor for the account — the lowest your equity can ever go. It is calculated once at account creation from your starting balance and never moves, regardless of profits made.

• The static floor never moves. Profit does not raise it. Losses do not lower it.
• As you profit, the buffer between your balance and the floor widens. This is intentional.
• Enforcement is equity-based. Open floating positions count toward this limit.

Breach rules

A breach occurs when the Hypernova risk engine detects that an account's equity has reached or fallen below either equity limit — maximum daily loss or maximum drawdown.

What happens on breach

• All open positions are immediately closed.
• The sub-account is permanently disabled.
• No further trading is possible on that sub-account.
• No payouts are available from a breached sub-account.

Breaches are permanent. There are no resets, appeals, or exceptions. There is no distinction between a "soft" and "hard" breach — any breach is final.

You do not need to close a trade for a breach to occur. If your floating P&L causes equity to touch an equity limit, the breach is triggered automatically.

Profit target

To pass the assessment and receive a funded account, your account balance must reach the profit target. Tight risk accounts have a 9% target; all other risk tiers have a 10% target. The profit target applies only to the assessment stage. Funded accounts have no profit target.

• The profit target is based on balance (closed P&L). You must close trades to realise profit.
• If your equity reaches the profit target while you have open positions, Hypernova will close those positions on your behalf to realise the gains and pass the assessment.
• Once your balance reaches or exceeds the target, the assessment is automatically passed.
• There is no time limit to reach the profit target.
• There is no minimum number of trading days. You can pass in a single trade.

Funded account rules

Upon passing the assessment, you receive a funded account with the same starting balance. Your risk tier and equity limits carry over unchanged.

Rules that carry over

• Maximum daily loss (recalculated daily at 00:00 UTC from prior day's closing balance).
• Maximum drawdown (static floor from original starting balance — never moves).
• Equity-based enforcement on both limits.
• Breach rules — permanent, no resets.

What changes

• No profit target — trade freely and withdraw when you choose.
• Payouts available — withdraw profits instantly at any time.

Payouts

Profit split

You keep 80% of all profits generated on your funded account. Hypernova retains 20%. A talent scaling programme with improved profit splits is coming soon.

Payout requests

• On-demand, at any time — no minimum waiting period.
• No minimum payout amount — just be in profit.
• No limit on the number of payout requests.
• Processed instantly via smart contract — avg. processing time under 0.02 seconds.
• All payouts settled in USDC on-chain, 24/7.

Example payout — $50,000 account

Leverage

Maximum leverage is set per symbol and varies by asset class. The cap for each symbol is shown next to the leverage selector in the terminal and listed in Markets. You are never required to use the maximum — any amount up to the symbol's cap is permitted.

Caps change as markets are added or recalibrated. The current values are always reflected on your dashboard.

Tradeable markets

Hypernova operates on Hyperliquid. When purchasing an assessment, choose your market access:

What is not restricted

Hypernova does not impose any of the following rules or restrictions:

Prohibited conduct

While trading strategies are unrestricted, the following conduct is prohibited and will result in immediate account termination and a permanent ban.

1 · Cross-account hedging and arbitrage

Opening opposing positions on the same instrument across two or more Hypernova accounts — or between a Hypernova account and an account at any third-party firm — to guarantee that one account profits while the other is sacrificed. Each account must be traded independently.

2 · Copy trading, signal services, and off-the-shelf strategies

Using third-party signals, copy trading services, or external sources to mirror positions into a Hypernova account. This includes executing trade ideas sourced from trading communities, social media, research reports, or crowdsourced platforms. Using strategies that are specifically marketed or designed to pass prop firm evaluations is also prohibited. Automated strategies built and operated by the trader themselves on a single account are permitted.

3 · Account sharing or multi-account access

Each account is tied to one individual. Transferring, selling, or sharing account credentials is prohibited. Trading multiple accounts from the same household, device, or IP address without prior approval is also prohibited.

4 · Exploiting platform errors, latency, or pricing anomalies

Intentionally exploiting technical errors, latency issues, price feed anomalies, or any other platform irregularities for profit.

5 · Identity fraud

Providing false identity information at registration or creating multiple accounts under different identities.

6 · Insider trading and front-running

Using non-public or insider information to inform trades. Front-running trades placed on other venues or by other parties is also prohibited.

7 · Strategy switching

Using one trading strategy to pass the assessment and then switching to a materially different strategy on the funded account. Your funded account trading should be consistent with the approach demonstrated during the assessment.

8 · Strategies that cannot be replicated in live markets

Using trading strategies that are difficult or impossible to replicate on the live market, or that carry heightened risk when doing so. This includes but is not limited to trades that risk auto-deleveraging due to margin requirements, trades resulting in excessively large fluctuations in unrealised P&L, and any approach that exploits the simulated nature of the environment.

9 · Conduct harmful to liquidity providers or regulatory standing

Trading in any way that jeopardises Hypernova's relationship with its liquidity providers, or that creates regulatory risk for Hypernova or any counterparty. This includes any activity prohibited by the liquidity providers used by Hypernova.

Account limits

Traders not on a scaling plan may hold multiple active funded accounts, up to an aggregate funded balance of $200,000. Additionally, traders may only have one active assessment account per asset class at any given time.

Fees & costs

• Assessment fee — a one-time, non-refundable fee paid to activate an assessment account. See section 02 for pricing.
• Trading fees — standard Hyperliquid maker/taker fees apply, passed through at cost with no markup. Trading fees are deducted from your balance and count toward your P&L.
• Funding rates — Hyperliquid perpetual contracts carry periodic funding rates, debited or credited automatically. Funding rate impact is included in your equity calculation.
• No hidden fees — there are no monthly fees, inactivity fees, data fees, platform fees, or withdrawal fees. The assessment fee and standard trading costs are the only charges.

Risk acknowledgment

By purchasing a Hypernova assessment, you acknowledge and accept the following:

• Most traders do not pass. The assessment is designed to be rigorous. There is no guarantee of success.
• Assessment fees are non-refundable. If you fail or breach, the fee is not returned.
• Funded accounts can be lost. Even after passing, your funded account is subject to the same drawdown rules and can be breached at any time.
• Past performance is not indicative of future results. Passing one assessment does not guarantee future profitability.
• Crypto markets are volatile. Prices can move rapidly and unpredictably. Losses can be sudden and severe.
• Leverage amplifies risk. Higher leverage means larger gains but also larger losses relative to account size.
• You are not trading your own capital. You do not own the funded account or any positions within it. You are eligible for performance-based payouts only.
• Hypernova may modify these rules. Updates are communicated with notice and applied prospectively. Active funded accounts are governed by the rules in effect at the time of account activation.

Quick reference

Assessment

Funded

Support & contact

For questions about these rules, your account, or payout requests:

• Discord — discord.gg/hypernova ↗
• Docs — hypernova.xyz/docs ↗
• Dashboard — app.hypernova.xyz ↗

Changelog

Every rule change is documented here with the date it took effect. We never change rules retroactively — the version active on the day your assessment started governs your account for its lifetime.

August 4, 2026 · v1.1 — Tight risk account added

• Added the Tight risk account with a 9% profit target, 3% daily loss limit, 3% static max drawdown, and its fee schedule. All other rules are unchanged.

June 29, 2026 · v1.0.3 — Leverage cap language generalized

• Leverage now described as per-symbol, with Markets as the source of truth. Wording only — no rule change.

June 17, 2026 · v1.0.2 — Medium risk pricing added

• Pricing for medium risk accounts added. No rule changes — clarification only.

May 4, 2026 · v1.0.1 — Example payout correction

• Section 10 (Payouts): corrected the New balance row in the $50,000 example payout from $51,200 to $50,000. The previous figure only deducted the trader's 80% share and left Hypernova's 20% share in the account; the corrected value reflects the full profit split being distributed at payout, returning the account to its starting balance.
• No rule logic changed — this is a documentation fix to align the example with the profit-split formula stated above the table.

Commit: a37c87b ↗

March 31, 2026 · v1.0 — Initial rules established

• 1-step evaluation model introduced across six account sizes ($5K–$200K).
• Three risk tiers: Low (3% daily / 6% drawdown), Medium (4% / 7%), High (5% / 8%).
• All drawdown is static from starting balance — never trailing.
• Profit target: 10% across all tiers and account sizes.
• Max leverage: 5x across all tiers and asset classes.
• 150+ tradeable markets: crypto and TradFi perpetuals on Hyperliquid.
• 80% profit split for all funded traders.
• On-demand payouts via USDC on-chain — avg. processing time under 0.02 seconds.
• No time limit, no minimum trading days, no consistency rules.
• News trading, weekend holding, EAs, and all trading styles permitted.

Commit: a3f92c1 ↗