Trading

Markets#

RXN lists every market of every Hyperliquid venue, grouped the way the venues file them:

A HIP-3 market is deployed by a team other than Hyperliquid (a venue), with its own collateral, its own fee on top of Hyperliquid’s and its own price source. Where the same thing trades on several venues, RXN shows it once with each venue’s price. Every market with a real day of trading has a page at rxn.gg/markets.

Hours and weekends#

Perps on Hyperliquid trade around the clock, every day — US stocks and indices too, while the New York Stock Exchange is closed (it opens 09:30–16:00 New York time on weekdays). The terminal shows whether NYSE is open, its holidays and early closes.

The calendar beside the ticket lists what moves markets other than crypto: company earnings, US inflation (CPI) and jobs reports at 08:30 New York time, Federal Reserve decisions at 14:00. Before an event the ticket warns you and advises a lower leverage: 3× through earnings, 5× through a macro report, 5× through a closed session. It is advice, not a forecast.

Orders#

You can size an order three ways: Margin (the USDC you put up, fees included), Size (in coins) or Risk (what you lose if your stop loss fills at its price — the ticket works out the size; a gap past the stop can cost more). Hyperliquid’s least order is $10.

Leverage and margin#

Leverage multiplies your position over your margin: $10,000 at 10× needs $1,000 of margin. RXN offers each market’s own maximum on Hyperliquid; it starts at 2×, and above 20× the ticket asks you to tick “I understand” once.

• Isolated — the position risks only its own margin. You can add or take margin with ±. It is the default.
• Cross — the position draws on your whole account; one losing position can take the rest of the account with it.
• Some HIP-3 markets are isolated only. A position keeps the mode it was opened with.

Liquidation#

If losses eat the margin down to the maintenance margin — half of the initial margin at the market’s maximum leverage — Hyperliquid closes the position: that is liquidation, and the margin is lost. The ticket and the position show the liquidation price; on cross margin it is an estimate (≈), because it depends on the rest of the account. RXN warns you when a position has gone 60% of the way to liquidation.

Funding#

Perps have no expiry; instead, every hour longs pay shorts or shorts pay longs a funding rate that keeps the perp near the price of the asset. The ticket shows what your position would pay or get per hour; the Funding block compares markets. RXN alerts you when funding against your position reaches 0.01% an hour (about 88% a year).

Guard#

Guard is RXN’s stop before liquidation. When you open a position, RXN places a reduce-only stop-market order on Hyperliquid for the whole position, 80% of the way from your entry to your liquidation price, never nearer than 0.5% of the price to liquidation. If the market goes against you, Guard closes the position first, and you keep what is left of the margin instead of losing all of it.

• On by default, on every market. Switch it off for a market with one tap; your device remembers.
• It follows your position: when you add margin, change leverage or size, RXN moves it — while RXN is open with trading on.
• It is an order on Hyperliquid: it stays there even if you close RXN.
• Its fill pays RXN’s fee on a close (0.02%; 0.005% on a growth-mode market). The history marks it “Closed by Guard”.

Confirmations and safety switches#

• The honest line — above the button: liquidation price, cost, what you lose at the stop, and the all-in cost of the trade.
• Cost check — if fees both ways, the price impact and a day of funding would take over 10% of the margin, the ticket refuses and asks for lower leverage.
• Review — orders drafted on the chart open a review with “Fee · Liq · At risk” before they go.
• One-click — sends orders from the chart, the book or a key without a review. Off again when you reload.
• Settings (the gear) — ask to confirm every open or close, and “hold to close all” for Panic.
• Panic — closes every position, cancels every order and stops every TWAP, after one confirmation.

Spot beside perps#

For BTC, ETH, SOL and HYPE the terminal shows the spot market beside the perp — its price, its book and the basis (the gap between them) — and flags when the basis moves away from its usual range. Spot is shown to read; a spot ticket is not there yet.

Share a trade#

Share on a position or a closed trade makes a PnL card: the market, the side, the return in percent after fees. Prices and dollar amounts are off until you switch them on. The card is drawn in your browser; RXN’s server never sees the trade.