Bloxwap doesn't hold your money, and it doesn't take the other side of your trade. When you tap UP or DOWN, your order is signed on your device and sent to Hyperliquid's public order book, where other traders fill it. The position lives on Hyperliquid, in an account your wallet controls. Bloxwap earns a disclosed builder fee on each fill.
That doesn't mean you'll win, or that every fill lands at the price you saw. It means the path is public, and you can check it.
The path from tap to fill
| Step | What happens | Who does it |
|---|---|---|
| 1. Sign | A buy (UP) or sell (DOWN) order is signed | A trading-only key on your device |
| 2. Send | The order goes to Hyperliquid with the builder fee attached | Your phone, directly |
| 3. Match | The order fills against resting offers on the book | Other traders and market makers |
| 4. Settle | The position is recorded under your wallet address | Hyperliquid |
1. Your device signs the order. The first time you trade live, your wallet signs one-time approvals on Hyperliquid. The key one is a trading-only permission: a separate key created in your browser and kept on your device. It can place and close trades, but it can't withdraw your funds. Another sets the most Bloxwap can charge as a builder fee. After that, the trading-only key signs each tap, so you don't approve every trade.
2. The order goes straight to Hyperliquid. Bloxwap is the interface, not the exchange. Your phone sends the signed order to Hyperliquid's API, with no Bloxwap order book in between. A tap sends an immediate-or-cancel order: it fills right away at up to 0.5% worse than the latest price, and any part that can't fill within that limit is canceled.
3. Other traders take the other side. Hyperliquid's order book is a live list of buy and sell offers, matched by price, then by time. Tap UP and you buy from whoever offers the best price: another trader or a market maker (a trader who keeps offers posted on both sides). Bloxwap doesn't choose your counterparty and has no book of its own to route you into.
4. The position settles on Hyperliquid. Your position, margin (the USDC backing it), and profit and loss are recorded under your wallet address. Tap CLOSE and Bloxwap sends a reduce-only order, which can only shrink your position, never open a new one the other way. Stop loss and take profit orders are reduce-only too.
How Bloxwap makes money
Bloxwap earns a builder fee, a fee Hyperliquid lets an interface add to the orders it sends, capped by the approval you signed. Every fill, open and close, is charged on position value (margin × leverage):
- Bloxwap builder fee: 5 bps (0.05%), or 2.5 bps for Genesis traders.
- Hyperliquid taker fee: 4.5 bps at the base tier.
- Total: 9.5 bps per fill, about $1.90 to open and close a $1,000 position. Stock, commodity, and index markets add a deployer fee.
Bloxwap keeps none of your funding payments (the periodic payments between longs and shorts), and the fee rate is the same whether you win or lose. The fee guide has the dated table.
How to check it yourself
- In Bloxwap, open the account sheet, tap Receive, and copy your Ethereum wallet address.
- Paste it into the Hyperliquid explorer.
- Read the list: orders placed for your address, each with its hash, block, and time.
Every trade on Hyperliquid records the addresses on both sides. Developers can pull your fills (price, size, fee, and builder fee) and your approved maximum builder fee from Hyperliquid's public info API.
What this doesn't promise
A public path isn't a promise of a good result.
- Prices can slip. In a fast or thin market, your fill can land worse than the price on screen, or only partly fill.
- Liquidity varies. Stock, commodity, and index markets can have fewer offers, especially outside regular US trading hours.
- Venue and software risk remain. Exchange bugs, smart contract flaws, outages, and interface errors can all affect trades.
- Leverage cuts both ways. It magnifies gains and losses, and a position can be liquidated (closed automatically when its margin runs too low).
For custody and what the trading-only permission can do, read Understanding custody and trading risk. For how the app and the exchange split the work, read Bloxwap and Hyperliquid.
Frequently asked questions
Does Bloxwap hold my money?
No. Your funds stay in your own wallet and your Hyperliquid trading account, which your wallet controls. The trading-only permission can place and close trades but can't withdraw your funds.
Is Bloxwap betting against me?
No. Bloxwap doesn't act as the counterparty to your orders. Every live order goes to Hyperliquid's public order book, where other traders and market makers fill it.
Is Bloxwap rigged?
Bloxwap can't promise any market is fair, but its part is public: your orders, fills, and fees are recorded on Hyperliquid, and anyone can look up your address. Fills still depend on liquidity and can slip.
Trading perpetual futures with leverage involves a high risk of loss. You can lose some or all of the money you put in. Try the flow in Demo first, and only trade what you can afford to lose. You must be 18 or the age of majority where you live, and restricted jurisdictions include the United States; see the Terms of Use.