How Aven works.

Aven is a perpetuals exchange for Robinhood Chain traders. For now it runs on paper money: every price, funding payment and liquidation follows the real market, and the money is not real.

Quick start

1. Open aventrade.app/trade. A fresh run starts with 50,000 aUSD.
2. Pick a market on the left. Choose Market, Limit or Stop, then Long or Short.
3. Enter your margin and leverage. The ticket shows size, fee, liquidation price and how far away it is.
4. Send it. The position appears below the chart with live PnL, funding and a bar showing how close liquidation is.
5. Or skip the clicks: press / and type long btc 20x 1000.
6. Open the Journal tab to see every closed trade, tag it, and track your account value.

Markets

Twenty-nine markets in three groups. Crypto and Macro are read live from Hyperliquid (macro from its HIP-3 xyz markets): mark, funding and leverage caps are Hyperliquid's. Stocks are the thirteen official stock tokens on Robinhood Chain, priced from their own pools on-chain.

Robinhood Chain stocks

NVDA, TSLA, AAPL, META, GOOGL, AMZN, MSFT, AMD, COIN, PLTR, MSTR, SPY and QQQ: the official tokens, from a fixed list of addresses (look-alike contracts with similar addresses exist).

• Mark: every 3 seconds Aven reads each token's deepest pool on Robinhood Chain through a public RPC: slot0() and liquidity() on Uniswap v3 and SushiSwap v3 pools, extsload() on the Uniswap v4 PoolManager for v4 pools. The pool's sqrt price becomes a dollar price through the WETH/USDG pool, or through the SPY token for SPY-quoted pools.
• Fill: a market order is quoted with Uniswap's swap maths on the pool's active liquidity, LP fee included, so a bigger order fills worse, the way a real swap would. An order that would move the pool more than 1.5% is refused, since it would run past the active range.
• Leverage: up to 5x. Funding: none, these are spot tokens. Candles: GeckoTerminal's index of the same pool.
• Wall St: the bar shows the underlying stock's last trade and whether the US market is open (Yahoo Finance, read through Shuntdesk). The tokens trade on-chain around the clock, so they can drift from it while the market is closed.

Liquidation odds

Each open position, and the ticket before you send one, shows the chance that the mark touches the liquidation price within 24 hours. It comes from that market's own hourly volatility over the last three days, as the touch probability of a driftless random walk: 2 × (1 − Φ(d ÷ (σ√24))), with d the log distance to the liquidation price. It is a statistic, not a forecast: real markets have fat tails, so real touches happen more often than this says.

Orders

Resting orders hold their margin and fee from your free balance until they fill or you cancel them. Minimum order size is 10 aUSD of notional.

One position per market. A second order on the same side adds to the position and averages the entry. An order on the opposite side reduces it, closes it, or, if it is bigger, closes it and opens the remainder the other way.

Margin & liquidation

Margin is isolated per market: one position can only lose the margin you gave it. Leverage is size ÷ margin, capped at the market's maximum.

In words: you are liquidated when margin plus unrealised PnL falls to 0.5% of the position's value at the mark. When that happens the position closes at the liquidation price and its margin is gone. Funding paid out of margin moves the liquidation price closer; adding margin with ± Margin moves it away.

Funding

Funding settles every hour, on the hour, at Hyperliquid's live rate for that market. Payment = position value at the mark × hourly rate. When the rate is positive, longs pay shorts; when it is negative, shorts pay longs. Payments come out of (or go into) the position's margin and show in the Funding column and on the receipt.

While you're away

Your account lives in your browser, so nothing runs while every Aven tab is closed. When you come back, Aven fetches what you missed for every market where you had a position or an order, and replays it in time order:

• 1-minute candles for absences up to about 25 hours, 5-minute up to about 5 days, hourly beyond that
• The real hourly funding history
• Each candle's high and low checked against resting orders, stops, take profits and liquidation prices

A popup lists what happened. Hyperliquid does not publish mark-price candles, so the replay uses trade candles for both; the live app uses the real mark.

Command line

Press / or Ctrl+K anywhere in the app. As you type, a preview line shows what the command will do (size, fill, liquidation price). After Enter, the result is printed under it: the fill price, size, liquidation price and its odds, fees, or the reason it was refused; the last six commands stay listed. Market names are case-insensitive; gold, xau, oil, wti and pepe all work. ↑ recalls the last command.

Leaving out the leverage uses 10x (or the market's maximum if lower). You can try every command in the sandbox on the home page.

Journal & runs

The Journal tab in the app logs every closed position with entry, exit, price PnL, fees, funding and the net result. It shows win rate, profit factor, average win and loss, liquidations, an equity curve sampled every minute the app is open, and breakdowns by leverage and by market.

Tag each trade (plan, fomo, revenge, scalp, hedge, news) and write a short note; the journal then shows the net result per tag. Export everything as CSV.

A run is one 50,000 aUSD account. End run, start fresh archives it with its final value and starts the next run; open positions and orders are dropped.

Receipts: any position or closed trade can be printed as a receipt image (1080 × 1350) to download or post.

Rewind

The Rewind tab replays a real day. Pick a Hyperliquid market (crypto or macro) and one of its six widest-range days of the last two weeks; the day plays from midnight UTC in its real 5-minute candles, at 1, 3 or 10 candles a second, with that day's real hourly funding.

It runs on a separate 50,000 aUSD account with the same engine as the live app: fees, liquidations on each candle's high and low, funding at each hour. Trade it with Long, Short and Close. End the day early or let it run to 24:00 UTC; open positions close at the last price. Results are kept in this browser under Your rewinds. Two weeks is as far back as Hyperliquid keeps 5-minute candles.

Funding board

The Funding tab puts each Hyperliquid market's live funding next to Binance's and Bybit's for the same coin, from Hyperliquid's own cross-venue feed. Every rate is converted to the same units: per hour, per year, and what a 10,000 aUSD long pays or earns in a day at Hyperliquid's rate. Gap vs Binance is Hyperliquid's yearly rate minus Binance's, in percentage points. Positive rates mean longs pay shorts.

Stress test

In the Positions tab, Stress test takes the worst real hour each market had in the last 90 days (about 40 for Robinhood Chain stocks, as far as their hourly candles go): the deepest open-to-low hour for a long, the highest open-to-high hour for a short. It applies that move to the current mark and tells you whether each position survives it and what it would cost.

Mirror

Every Hyperliquid account is public. The Mirror tab opens any account: its live account value, every open position with size, entry, liquidation price and unrealised PnL, and its latest trades, read straight from Hyperliquid and refreshed every 15 seconds. While you watch an account, Aven tells you when it opens, flips or closes a position.

The list on the left is the top 20 accounts by 30-day PnL (over $1M in the account and $10M of 30-day volume) from Hyperliquid's public leaderboard; the list itself is a dated snapshot, their positions are always live. Mirror on paper opens the same side on your account with the margin you choose, at their leverage or the market's cap, whichever is lower. Markets Aven doesn't list can be watched but not mirrored.

Whale tape

Aven listens to every trade on its sixteen markets. Prints of $50,000 or more appear in the Whale tape tab and on the home page as they happen, and each one sends a shockwave through the dotted field in the background: buys on one side of the valley, sells on the other.

Data sources

• Hyperliquid public API (api.hyperliquid.xyz): mark, oracle and mid prices, hourly funding and its history, open interest, 24h stats, the order book, candles and trades. Your browser connects directly; no key.
• Robinhood Chain public RPC (robinhood-rpc.publicnode.com): stock token pool state every 3 seconds and the latest block.
• GeckoTerminal: candles for the stock token pools. DexScreener: 24h change, volume and pool liquidity for the stock tokens.
• Hyperliquid accounts (clearinghouseState, userFills): live positions and trades for Mirror. Hyperliquid leaderboard: the dated top-20 snapshot.
• Shuntdesk (shuntdesk.com/api/v1/stocks): the underlying stocks' last trade and market session, from Yahoo Finance.
• Your browser's storage: your account, orders, trades, tags and notes. Nothing is sent to an Aven server; there isn't one.

What's next

Rules

FAQ