Why prop firms moved to Hyperliquid
A prop firm asks you to trust it twice: once that your fills are real, and once that it will pay you. Traditional firms answer both with a dashboard. Hyperliquid changes the answer to both.
Orders route to a public perpetuals order book, so your execution is the same book everyone else trades — a firm cannot quietly widen your spread or slip your stop, because it does not control the venue. And settlement can be written on-chain, which turns a payout from a claim into a transaction hash. That is the whole appeal, and it is why every serious on-chain firm launched here rather than building its own matching engine.
It also means the firm never holds your trading capital. You are not wiring money to an offshore entity and hoping — the evaluation fee is the only money that leaves your wallet, which is a structurally different risk from a traditional funded account.
The distinction that decides everything
Before any split comparison makes sense, one question has to be answered: does passing lead to real capital, or to a simulation?
Both models are legitimate, and the simulated ones are often upfront about it in their legal text. The problem is that the marketing above the fold is identical — same challenge, same profit target, same “payout” — while the disclaimer sits in 8-point type in the footer. A trader comparing a 90% split against an 80% split without reading that footer is comparing a rewards programme against a funded account and concluding the wrong thing.
So this page sorts by model first and split second. Every figure below was read on the firm's own site, and where a firm does not publish a number, it says not published rather than borrowing one from a comparison table.
Firms that fund you with real capital
Three platforms on Hyperliquid put actual capital behind a trader who passes. They are not equally available: one sells evaluations at every size today, one is capped at $25K, and one cannot be bought at all yet.
- Split
- 80%
- Max size
- $100K per account · $300K combined
- From
- $25 (Turbo 1-Step, $5K)
- Time limit
- None
- Payout
- USDC on-chain, $20 minimum, within 24h (~5h average published)
How Hyperliquid is used. Trades execute on Hyperliquid; payouts settle on-chain in USDC on Hyperliquid, so each withdrawal is a transaction you can look up yourself.
Watch out. The 80% split is beaten on paper by several competitors here. What you are paying for instead is a versioned rulebook and payouts you can verify — not the biggest headline number.
Rulebook published and versioned with a changelog (v1.0.3, 29 June 2026). Three evaluation formats: Classic 1-Step, Classic 2-Step, Turbo 1-Step. Live transparency dashboard showing pass rates and firm P&L. Bots, copy trading and API access explicitly permitted. Prediction-market product announced with full pricing but still waitlist-only.
- Split
- 80%
- Max size
- $25K today · $50K/$100K/$200K listed as Coming Soon
- From
- $50 ($5K account)
- Time limit
- 30 days
- Payout
- USDC by smart contract, minimum withdrawal 1% of account
How Hyperliquid is used. Trading runs on Hyperliquid; the evaluation rules and payout logic are enforced by smart contracts, with Arbitrum in the settlement stack.
Watch out. Two rules Propr does not have: a 30-day challenge deadline and a minimum of 2 profitable days out of 3. Both are the kind of clause that fails an otherwise winning account, so read them before you pay.
Two-phase evaluation: Phase 1 targets 10% profit, Phase 2 targets 5%, both with a 5% daily loss limit and 9% max drawdown. Pricing read from the live site: $5,000 → $50, $10,000 → $90, $25,000 → $213. Larger sizes are displayed but marked Coming Soon, so the real ceiling today is $25K. Public Dune dashboard.
- Split
- Up to 80%
- Max size
- $5K–$200K initial funding
- From
- not published
- Time limit
- not published
- Payout
- Smart-contract payouts settling in under 5 seconds
How Hyperliquid is used. Built on Hyperliquid, with a payout reserve held on-chain that the site links out to for inspection.
Watch out. You cannot buy an evaluation today — the only call to action is “Register for Alpha”. And the homepage states its own waitlist twice with two different numbers, 1,602 in one block and 51,819 in another. Small thing, but this is a firm asking you to trust its published figures.
Raised $3M pre-seed led by Lemniscap (reported by The Block, May 2026), the first VC-funded entrant in the category. Its own documentation states up to 80% profit share across $5K–$200K accounts — the same split as Propr, not the 90% still repeated on comparison sites. 110+ perpetual markets, an in-house terminal and risk engine running on Hyperliquid's liquidity, a versioned rulebook and no consistency gates. The site publishes an on-chain payout reserve of $887,836 and total payouts of $275,161 as of the check.
Platforms that are not funded accounts
These are sold with the same vocabulary — challenge, profit target, drawdown, payout — and they advertise the highest splits in the category. They are a different product. The distinction below is not our opinion; it is taken from each platform's own disclaimer.
- Split
- 90% (described as a rewards split, not a profit split)
- Max size
- Scales to $400K (simulated)
- From
- $0 ($1K free tier) · $74 ($5K)
- Time limit
- None
- Payout
- USDC monthly, on-chain
How Hyperliquid is used. You trade your own Hyperliquid wallet as normal; Hyperstack reads your performance and mirrors it into a simulated scaled account. Hyperliquid is the source of the signal, not where the firm's capital sits.
Watch out. This is not a funded account, and Hyperstack says so itself: its footer states that all trading is simulated, that it is “not a funded or live trading account”, and that passing a Challenge “does not guarantee an invitation to the Scaled Trader Program or any compensation”. Read that sentence twice before comparing its 90% to anyone else's 80%.
An Authorized Marketing Partner of Vanta, offering a Vanta-powered partner-branded experience — Hyperstack does not collect payments, handle refunds, or make payout or eligibility decisions. One-step challenge, 10% profit target, 5% max drawdown, no time limit. Pricing: $1K free, $5K $74, $10K $135, $25K $309, $50K $579, $100K $999.
Listed elsewhere, deliberately left out here
Comparison sites in this niche copy each other, and three names keep appearing on “Hyperliquid prop firm” lists that do not survive a check. Here is what we found and why each is excluded — so you can disagree with the reasoning rather than the conclusion.
Vanta Trading (vantatrading.io)
Listed by several aggregators as the top “Hyperliquid prop firm” because of its 100% split. It is not Hyperliquid-native — it is a simulated platform whose own risk disclosure states that all trading activity occurs in a simulated environment, and its own comparison table is built around forex against FTMO. It reaches Hyperliquid traders through the Hyperstack partner brand, which is listed above under its real category.
checked 2026-07-25
Vanta Trading (vantatrading.com)
A different company entirely, and an easy trap: vantatrading.com is a $35/month futures education community trading NQ and ES. Same brand name, unrelated business, no connection to Hyperliquid. If you searched the .com expecting the prop platform, you are on the wrong site.
checked 2026-07-25
DojiFunded
Appears on aggregator lists as a Hyperliquid firm. The domain resolves but serves only a shell page reading “Doji — The next generation trading intelligence platform”, with no rules, pricing or product visible to an automated read. We do not list a firm we cannot verify, so it stays out until there is something to check.
checked 2026-07-25
Everything side by side
| Firm | Capital | Split | Max size | Time limit | Buy today? |
|---|---|---|---|---|---|
| Propr.xyz | Funded account | 80% | $100K per account · $300K combined | None | Open — buy today |
| HyperPNL | Funded account | 80% | $25K today · $50K/$100K/$200K listed as Coming Soon | 30 days | Open, limited sizes |
| Hypernova | Funded account | Up to 80% | $5K–$200K initial funding | not published | Waitlist only |
| Hyperstack | Simulated / rewards | 90% (described as a rewards split, not a profit split) | Scales to $400K (simulated) | None | Open — buy today |
Which one to actually pick
If you want real capital today, at any size. Propr.xyz is the only one of the three that sells evaluations across the full range and has a versioned rulebook you can read before paying. It is also the one I trade with my own money, which is why it is the only firm scored above 85 in our Trust Score — every other firm here is assessed from published documentation and capped accordingly.
If you want smart-contract enforcement and a small account. HyperPNL puts the rules themselves in code, which is a genuinely stronger guarantee than a published PDF. The trade-offs are a $25K ceiling, a 30-day deadline and a profitable-days requirement — all three absent at Propr.
If you are willing to wait. Hypernova is the best-capitalised entrant and the only one with institutional backing. There is nothing to buy yet, and its homepage currently states its own waitlist size twice with two different figures, so treat the published numbers as marketing until the alpha opens.
If you mainly want to monetise trading you already do. Hyperstack is worth a look precisely because it does not ask you to change platform — but go in knowing you are joining a rewards programme, not getting funded.
Go deeper
FAQ
Which prop firms trade on Hyperliquid?+
Four platforms matter as of 25 July 2026. Propr.xyz, HyperPNL and Hypernova put real capital behind traders who pass; Hyperstack mirrors your Hyperliquid trades into a simulated account and pays performance-based rewards instead. Only Propr sells evaluations at every size today: HyperPNL is capped at $25K, and Hypernova is still register-for-alpha.
Which Hyperliquid prop firm has the highest profit split?+
Hyperstack advertises 90%, against 80% at Propr, HyperPNL and Hypernova. But Hyperstack's own footer states that all trading is simulated and that it is not a funded or live trading account — so its 90% is a share of a rewards programme, not of profit made with a firm's capital. Comparing the two numbers directly is comparing different products.
Why do so many prop firms build on Hyperliquid?+
Because it removes the two things traders distrust most. Execution happens on a public order book rather than an internal simulator, so a firm cannot quietly worsen your fills; and settlement can be written on-chain, so a payout becomes a transaction you look up yourself instead of a number in someone's dashboard. It also means the firm never custodies your trading capital.
Is a Hyperliquid prop firm safer than a traditional one?+
More verifiable, not automatically safer. On-chain settlement lets you check that a payout happened; it says nothing about whether the firm will still exist next quarter. GT Funded advertised the best headline numbers in the category and went dark in June 2026. Verifiability and survival are separate questions, and you need both.
What is the cheapest way to get a funded Hyperliquid account?+
A $25 Turbo 1-Step on Propr for a $5,000 account is the lowest entry that leads to real capital, with HyperPNL's $5,000 account at $50 next. Hyperstack has a free $1K tier, but passing it leads to a simulated scaled account, not funding.
⚠️ Trading leveraged products carries a high risk of loss. Most crypto prop firms are unregulated offshore entities, and simulated platforms are not funded accounts. Every figure on this page was read on the firm's own site on 25 July 2026 and may have changed since — check before you pay. This page contains affiliate links to Propr.xyz: we earn a commission on sign-ups, at no cost to you and with no effect on the rankings, which follow our . Nothing here is investment advice.methodology.