Perpetual futures · BTC · ETH
Trade perps privately.
Every trade shows up on the public market. HyperVeil is built so none of it can be traced back to your wallet.
HyperVeil privacy layer
Public
Traders exposed
- Size
- $1,250,000
- Entry
- $66,432
- Liq. Price
- $62,180
- PnL
- +$278,431
+48.2%
- Size
- $340,000
- Entry
- $3,245
- Liq. Price
- $3,612
- PnL
- −$24,931
−7.3%
HyperVeil
Traders protected
- Size
- $1,250,000
- Entry
- $66,432
- Liq. Price
- $62,180
- PnL
- +$278,431
+48.2%
- Size
- $340,000
- Entry
- $3,245
- Liq. Price
- $3,612
- PnL
- −$24,931
−7.3%
Example account
Public markets expose who's trading.HyperVeil is built to keep your identity private while trading activity stays visible.
Markets
- Mark
- 82,071
- 24h
- +0.56%
- 24h volume
- $4.16B
- Open interest
- $3.41B
- Funding 1h
- +0.0013%
Market data · Hyperliquid
- Mark
- 2,433.2
- 24h
- +0.86%
- 24h volume
- $1.91B
- Open interest
- $2.66B
- Funding 1h
- +0.0013%
Market data · Hyperliquid
Same market, two designs
The trade is public.
Who placed it doesn’t have to be.
What transparent perp DEXs show today
Illustration · per-wallet position rows anyone can look up
Size, leverage and liquidation price sit in the open. Large traders get tracked, copied and hunted.
On HyperVeil · by design
The market stays public. Your wallet is built to stay out of it.
Recent trades
- Completed trades
- Price
- Size per fill
- Aggregate open interest
- Volume
- Funding rates
Built so it can’t be linked to your wallet
- Position size
- Entry
- Leverage
- Liquidation price
- PnL
- Account balance
Zero-knowledge proofs let the protocol show that positions are collateralised and balances add up, without showing who holds what.
How it works
Designed for Hyperliquid’s markets.
HyperVeil is a privacy layer for Hyperliquid’s markets and liquidity. HyperVeil is built so positions can’t be linked to your wallet while the market stays public, and the protocol is designed so every balance can be cryptographically verified.
- 01
Deposit into the shielded pool.
Collateral enters a shared pool, built so your wallet can’t be linked to your trades.
- 02
Trade on Hyperliquid’s markets.
HyperVeil nets opposing flow internally, then executes the residual on Hyperliquid’s book and liquidity — so prices and depth stay Hyperliquid’s.
- 03
Keep your position off the public ledger.
HyperVeil is built so your positions and trade history can’t be linked to your wallet or searched by address. You see every number in your own account.
Risk & verification
Private doesn’t mean unchecked.
Margin, liquidations and solvency are enforced inside HyperVeil, with proofs that the pool can cover what it owes — built so an unlinkable book can still be verified.
TradeFAQ
What is HyperVeil?
A perpetual futures protocol built so your positions can’t be linked to your wallet while you trade on Hyperliquid’s public markets.
What does privacy mean here?
Trading activity stays public. HyperVeil is built so your wallet can’t be linked to your positions or trade history, and nobody can search your address to open your book. You see every number in your own account with your viewing key.
Which markets can I trade?
BTC and ETH perpetuals, executed on Hyperliquid’s markets and liquidity.
What stays public?
Market activity: completed trades, prices, fill sizes, open interest, volume and funding. Prices are discovered in the open.
How is that different from trading on a transparent exchange?
On a transparent venue anyone can look up an address, see its positions and liquidation levels, and trade against them. HyperVeil is built so that information can’t be tied to your wallet.
What role do zero-knowledge proofs play?
They let the protocol prove that positions are collateralised and balances are correct without revealing whose they are.
How are margin and risk checked if positions are private?
The protocol runs its own margin and liquidation checks inside HyperVeil and publishes proofs that the pool can cover what it owes.
Where can I read the details?
In the Docs.