An algorithm is an instrument.Take a position in one.
pnl is a launchpad for trading algorithms on the perp venues you already use. Browse algos by their track record, allocate margin, and pick a multiplier for each — positive copies it, negative counters it. Your funds never leave your own Hyperliquid or Lighter account.
It cannot withdraw
You approve a delegated trading key, and the limit is enforced by the exchange rather than by our code. Revoke it at the venue, without asking us.
Traded forward, not backtested
Every track record is paper-traded on live bars, from zero. None of it is ever seeded from history.
Netted before it trades
Hold two algos that disagree on BTC and you trade the difference — and pay fees on the difference.
You trade your own account
There is no deposit, no vault, and no wallet created on your behalf. You connect your own wallet and approve a delegated trading key — an API wallet on Hyperliquid, an API key on Lighter. Both venues support it natively. It lets pnl place orders on your account and nothing else.
The key cannot withdraw or transfer your funds, and that limit is enforced by the exchange rather than by our code. Stated plainly: if this platform were fully compromised, an attacker could trade your margin badly. They could not take it.
Copy an algo, or counter it
Every algorithm emits a target exposure for a market on each bar. You pick a signed multiplier: positive copies it, negative counters it, zero is out.
Countering is a real position, not a metaphor — it is the mirrored target sequence, and it is how you say an edge is crowded without needing its author to agree. Your net position is the sum of everything you hold, so a basket nets on one account before it reaches the venue.
Track records are paper-traded forward
A listed algo trades forward on live bars, in public, before anyone can allocate to it. Not backtested — a curve here starts the day it is listed and is never seeded from history.
Fills walk real order-book depth and reject when the book cannot clear them, so a record is capacity-aware from its first day rather than describing size that was never available.
Most strategies never get listed
Anyone with a fast backtest and a row of sliders can produce a beautiful historical record by searching until the noise lines up. A headline Sharpe ratio measures how hard someone searched, not how good the strategy is.
So every submission is re-run on our side, against our bars and our fee model: a significance test that slides the signal off its timing hundreds of times, a holdout the author never sees, a tradeability floor, and a resampled estimate of how bad an unkind draw gets. Fail any one of those and it is refused, however good the rest of it looks.
Connect an account you already hold.
No deposit, and no key that can move your money. Bring a Hyperliquid or Lighter account and a wallet you control.