PROPR

PROPR runs its perps prop firm on Hyperliquid, selling funded accounts on a live list of 156 perpetual futures on the firm's asset universe page, mostly crypto with a stocks block, two index perps and a handful of commodities; the homepage rounds this to 160+. The detail that matters most is how an order is handled. Every PROPR account, funded ones included, is simulated, and each trade is submitted as a signal the firm may or may not copy to the live venue. Copied orders are labelled A-book and settle on Hyperliquid, where they can be checked on-chain; the rest are B-book, recorded internally with the same P&L outcome, and the dashboard shows which happened on each trade. PROPR says it picks the method at its absolute discretion and that on B-booked trades its own profit is inversely correlated with the trader's. It is backed by SwissBorg and founded by Louis Regis.

Funding is passed through rather than replaced with a swap. Hyperliquid's periodic funding rates are deducted or credited automatically and count in equity, so a position paying funding drifts toward PROPR's limits while it stays open. Trading fees are Hyperliquid's maker and taker rates passed through at cost, and also reduce the balance. Pricing, slippage and fills are described as reflecting real Hyperliquid orderbook conditions, and latency arbitrage between the firm's price feed and Hyperliquid execution is prohibited conduct.

PROPR sells a challenge in four shapes, with no time limit, no minimum trading days and no consistency rule. Classic 1-Step asks for a 10% profit target inside a 6% static max drawdown, Turbo 1-Step for 9% inside 3%, and Pro 1-Step for 12% inside 5%, each with a 3% daily loss limit. Classic 2-Step targets 5% then 10% with a 5% daily limit and an 8% trailing drawdown that follows the high-water mark and stops at the starting balance. The daily figure is taken from the start-of-day balance at 00:00 UTC, but the floor is enforced on equity including floating P&L, with no grace period, and a touch ends the account for good. Sizes run from $5,000 to $200,000 for one-time fees from $25 to $1,998, non-refundable, with aggregate caps of $200,000 in evaluation and $300,000 funded.

On a funded account the profit split is a flat 80% and the payout is an on-demand sweep of all profit, from $20, in USDC on-chain, with positions closed first and KYC required beforehand; the sweep also resets the 2-Step high-water mark. Weekend holding, news trading, EAs and bots are permitted, though the terms say bots must not affect platform stability and off-the-shelf bots may be flagged as coordinated trading, and copy trading is allowed by the rulebook even between a trader's own PROPR accounts, though the evaluation terms prohibit identical or mirror trades across accounts a trader controls, while hedging opposite positions across accounts or at other venues is banned. Leverage needs care: the rulebook's table, its quick-reference card and the asset page give BTC and ETH 10x, yet a summary tile in the same rulebook and the rules FAQ say 5x. Other crypto is 2x and equities 4x. The rulebook also lists FX perps at 25x, though the asset page showed none at the time of writing.