Hypernova

Hypernova's homepage still labels the product closed beta and invite only, while its rulebook lists three of the four risk tiers as open to all users, so access is worth confirming before planning around this perps prop firm. What Hypernova sells is a 1-step assessment on perpetual futures across crypto, equities, FX, commodities, indices and pre-IPO names, priced from live Hyperliquid market data. Orders never reach that venue: they are filled by Hypernova's own engine and are not routed to Hyperliquid, and every trade runs in a simulated account. Its central book can also act on what traders do: signals may be taken for it, with an in-app notice when that happens. Its markets page counts 106 instruments, whereas the rulebook table adds up to 140, 79 crypto and 61 TradFi, chosen as a market access package at purchase.

Hyperliquid also supplies the funding. Periodic funding is applied to open positions at Hyperliquid's published rates, debited or credited automatically, and its impact sits inside the equity figure the limits are tested against, so paying funding on a long hold eats into a Hypernova account's room. Trading fees mirror Hyperliquid's maker and taker schedule without markup. Prices, order book depth and funding rates all come from the same source. Maximum leverage is set per symbol, with the markets page as the reference: BTC, ETH and SOL show ×10, the S&P 500 and XYZ100 ×10, oil ×8, single stocks ×4, and smaller coins such as HYPE, ZEC and XRP ×2. The homepage comparison table still shows 5x.

Tier choice sets the risk terms for this challenge. Tight asks for a 9% profit target inside a 3% max drawdown and 3% daily loss limit; Low needs 10% inside 6% and 3%; Medium 10% inside 7% and 4%; and the restricted High tier 10% inside 8% and 5%. Drawdown is static from starting balance and never moves. The daily limit is recalculated at 00:00 UTC from the closing balance, excluding floating positions, yet enforcement of both limits is on equity, and even a momentary touch is a permanent breach. A homepage line about closed, end-of-day equity contradicts this; the rulebook is the fuller statement. Hypernova has no time limit, no minimum trading days and no consistency rule. Fees are one-time, non-refundable and paid in USDC, from $25 for $5,000 on Tight to $2,700 for $200,000 on Medium, and combined starting capital is capped at $300,000.

Funded accounts keep the same limits, drop the target and pay 80% of profit, or 90% if that split was bought for 20% more at purchase; High stays at 80%. A payout is on demand in USDC on-chain through a smart contract, with no minimum beyond being in profit. Weekend holding, news trading and a trader's own EAs on a single account are unrestricted. Copy trading, third-party signals, trade ideas taken from communities or research reports and off-the-shelf strategies built to pass prop firm evaluations are prohibited, as is switching to a materially different strategy once funded. Users in OFAC-sanctioned jurisdictions, including Iran, North Korea, Cuba, Syria and Russia, are excluded.