Hypernova is the only crypto prop firm in this category with venture backing — $3M pre-seed led by Lemniscap, reported by The Block in May 2026. It runs on Hyperliquid for liquidity, settles on Arbitrum, and since 14 August 2026 it is public: no more invites, checkout open on app.hypernova.xyz with published pricing (read 16 August 2026). Hypernova provided us with a $10,000 Low Risk assessment account on 8 August 2026, during the closed beta, which we disclose because it matters. What follows is what we could verify on that account and in their published documents, and nothing else.
Hyperliquid · Review
Hypernova Review 2026
Updated 16 August 2026 · by Roya
Key facts
up to 80%
Profit split
$5K–$200K
Max account
Instant USDC (smart contract)
Payouts
On-chain
Settlement
Official site: hypernova.xyz · affiliate link
What we like
- Every limit shown in the app matched the published rulebook to the dollar: $11,000 target, $300 daily loss, $600 max drawdown, $9,400 floor on a $10,000 Low Risk account. Verified on a live account, not read off a marketing page.
- Trading fees came in at exactly 3.00 bps on both fills — Hyperliquid rates passed through at cost, no markup, as the rulebook states. A round trip at 2x cost 0.12% of the account.
- Leverage is set per symbol and reaches 10x on SP500, gold, crude and Brent. Their own assessment page still claims a flat 5x cap, which understates what they actually offer.
- Three Arbitrum contracts are published by address — accounts, vault, payout reserve — and every payout emits an on-chain event with a transaction hash anyone can read.
- Between 5 and 8 August the published payout reserve fell by exactly the amount cumulative payouts rose: $16,091 each way. The two figures do not contradict each other.
- No consistency rule, no minimum trading days, no time limit, no profit cap. News trading and weekend holding are explicitly allowed.
- The rulebook is versioned with a dated changelog, and the version active when your account opened governs it for its lifetime.
Watch-outs
- Our account was not bought through the public checkout. It was issued directly by Hypernova on 8 August 2026, during the closed beta — the public checkout only opened on 14 August 2026 — so our access route is not the one your readers use, and we disclose it for that reason.
- The terminal desynced during our session and reported the position as FLAT while a $20,000 short was open, with Available to Trade at $0.00 and Breach Price at N/A. Neither Try again nor Reconnect fixed it — only a full page reload did. On an account where touching a limit ends the assessment, losing sight of your breach price is not cosmetic.
- At our 8 August 2026 check, the entire High risk tier was unpriced (TBD), as was the $200K Medium tier. The public checkout that opened on 14 August 2026 now publishes fees — $120 / $275 / $365 on the 25K account depending on risk tier (read 16 August 2026) — but the pre-launch gaps are worth remembering.
- During the beta, three official pages gave three different market counts: 110+ on the homepage, 75+/30+/110+ on the assessment page, 100+/50+/150+ in the rulebook. The public site now states 141 markets (read 16 August 2026).
- The beta rulebook claimed "Consistency rule: None" in section 13, then prohibited strategy switching in section 14 — a consistency requirement under another name. The public rules read 16 August 2026 carry no consistency rule.
- The beta rulebook's bot policy contradicted itself: section 13 said there were no EA or bot restrictions, section 14 permitted only automated strategies "built and operated by the trader themselves". The public rules read 16 August 2026 list no bot restrictions — but that history of self-contradiction is why we keep re-reading.
- Before launch, the homepage printed its waitlist twice with two different numbers — 1,602 and 52,124 on 8 August. That counter-hygiene record is worth keeping in mind when reading its published stats today.
- We have not taken a payout. Until we do, the claim that Hypernova pays remains their claim, not our finding.
Our verdict
Hypernova does the hard part well. The rules are published, versioned, written into a contract on Arbitrum, and — this is the part almost nobody passes — the numbers in the app matched the numbers in the rulebook exactly on a live account. Fees are passed through at cost. Leverage is more generous than their own documentation admits. On the criteria a trader can check before paying, it is the most rigorous firm we have looked at after Propr. What holds it back is not integrity but maturity: during our test several of its own pages disagreed with each other, and its terminal lost track of an open position while we were watching. Since 14 August 2026 it is public — checkout open, pricing published — and we have now traded it, so the desk-research cap no longer applies. But we have not taken a payout from it, and that single missing fact is what keeps it one point behind Propr rather than ahead of it. We say so on the page rather than quietly rounding up.
When this firm beats Propr
If you trade indices or commodities, Hypernova is the better tool: leverage is set per symbol and reaches 10x on SP500, gold, crude and Brent, against Propr's tighter caps. It also has no consistency rule of any kind. And since 14 August 2026 it is public — buyable on demand, no invitation.
See Hypernova for yourself
Rules, pricing and on-chain proofs are published — open Hypernova and check them against our review.
Open Hypernova →
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Our overall #1: Propr.xyz
Across splits, payout speed, market depth and automation, Propr.xyz is our top pick — and the one Bubbles semi-automates: you pick the trade, it handles DCA/TP/SL.
FAQ
Is Hypernova legit?+
On everything checkable before paying, yes. Its rulebook is public and versioned, its account rules are written to a smart contract on Arbitrum whose address is published, and the limits shown in a live $10,000 account matched that rulebook to the dollar. What we cannot yet confirm is a payout: we have not taken one, so we do not claim they pay.
How much does a Hypernova assessment cost?+
In-app pricing read 17 August 2026: the 5K account starts at $25 (Precision/tight risk), $60 (Conservative) and $80 (Standard) — the 25K account costs $120, $275 or $365. Funding tiers run from $5K to $200K, with scaling beyond after review. Hypernova also publishes measured pass rates per tier: 24.6%, 19.2% and 27.9% (17 August 2026).
Can you buy a Hypernova account right now?+
Yes. Since 14 August 2026 Hypernova is public: checkout open on app.hypernova.xyz, no invitation or waitlist. There is also a Fast Track — connect your Hyperliquid, Binance or Bybit trading history, and qualified traders skip the evaluation. Our own account was provided directly by Hypernova on 8 August 2026, before the public launch, and we disclose it for that reason.
Does Hypernova allow trading bots?+
Its beta rulebook contradicted itself: section 13 listed EA and bot restrictions as None, while section 14 permitted only automated strategies built and operated by the trader themselves. The public rules read 16 August 2026 list no bot restrictions at all. If your strategy depends on it, still ask them in writing.
How does Hypernova compare to Propr?+
Hypernova gives more leverage on indices and commodities, up to 10x, and imposes no consistency rule; since 14 August 2026 it is buyable on demand. Propr explicitly permits bots and copy trading and has a longer public payout record. Both publish versioned rulebooks and settle on-chain. One nuance from Hypernova's own FAQ: funded accounts remain simulated, and trader signals can feed its central book.
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Affiliate disclosure: we may earn a commission if you sign up to Propr.xyz or Hypernova via our links, at no cost to you. Specs may change — verify on each firm's site. Informational only, not investment advice. Leveraged trading carries a high risk of loss.