How Bloxwap payouts work

Short answer: on Bloxwap there's no fixed payout. You open a trade with your own money, the trade gains or loses value as the price moves, and you keep the result when you close. How much you make or lose depends on how far the price moved — and which way you bet.

Bloxwap is the fastest way to trade perpetual futures ("perps") on Hyperliquid, a large decentralized exchange. It's non-custodial: your money stays in your own wallet and you sign every trade.

How a position settles

You open a trade in one direction:

• Tap up to go long — you think the price will rise.
• Tap down to go short — you think the price will fall.

You back the trade with USDC, a digital dollar where 1 USDC ≈ $1. That deposit is your margin. Most trades use leverage, which multiplies your size: at 10× leverage, $50 of margin controls a $500 position.

Until you close, your profit or loss is just on paper — it moves up and down with the price. Money only actually changes hands when you close the position (or get liquidated, more on that below).

Closing in profit

You go long on Bitcoin with $50 USDC margin at 10× leverage. That controls a $500 position.

Bitcoin rises 4%. Your $500 position gains 4% → +$20.

When you close, you get back your $50 margin plus the $20 gain = $70. Notice the percentages: Bitcoin moved 4%, but you made +40% on your margin ($20 on $50). Returns on Bloxwap are measured against your margin, not the full position size.

That +$20 is your gross profit — before costs. After a small amount in fees (typically well under a dollar on a trade this size), your net profit — what actually lands back in your wallet — is a little lower, around +$19.50. Gross is the headline number; net is what you keep.

Closing at a loss

Same setup: $50 margin, long Bitcoin, 10× leverage, $500 position.

This time Bitcoin falls 4%. Your position loses $20 (−40% on your margin). You close and get back $50 − $20 = $30, minus fees.

The key safety rule: you can never lose more than the margin you put in. Your $50 was the most at risk.

Liquidation

If the price keeps moving against you, your losses can grow until they nearly equal your margin. At that point Hyperliquid force-closes your trade so your loss can't go past your deposit. This is called liquidation.

Worked example: you go long on Bitcoin at $100,000 with $50 margin at 10× leverage. At 10× a roughly 10% move against you wipes out your margin, so your liquidation price sits a little above that — around $90,500 (just short of −10%, because fees and a small safety buffer count too). If Bitcoin falls to about $90,500, your trade is closed automatically and you lose your $50 margin. Liquidation is the main risk of leverage — lower leverage moves the liquidation price further away.

Funding

Because a perp never expires, exchanges use a small recurring payment between longs and shorts to keep the perp's price close to the real market price. That payment is the funding rate. On Hyperliquid it's exchanged every hour. Sometimes you pay it, sometimes you receive it — it's usually tiny, but over a long-held trade it adds up, so it's worth knowing it exists.

Fees

You pay fees when you open and when you close. There are two parts:

1. Hyperliquid's exchange fee — the standard rate every trade on the exchange pays.
2. The Bloxwap builder fee — a flat 5 bps (0.05%) of your trade, or 2.5 bps for Genesis traders.

Fees are what turn gross into net. See the full breakdown on the fees page.

FAQ

Can I lose more than I deposit? No. The most you can lose is your margin — liquidation closes the trade before your loss goes past it.

What's the difference between gross and net? Gross is your raw price gain or loss. Net subtracts fees (and any funding). Net is what actually moves in or out of your wallet.

When does money actually move? When you close the position — or when it's liquidated. Until then, your profit or loss is unrealized and can still change.

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New here? Start with What is Bloxwap? or the beginner guide to perpetual futures. Read the full docs before you size up — leverage is powerful, and a move against you is magnified.