Liquidity on Hyperliquid
Funded accounts are priced against Hyperliquid live order books rather than a synthetic feed built in-house, so the prices you trade at are the prices everyone else sees.
You score for your trading footprint and Ethos reputation. The top 100 each win a challenge account, up to $100K.
Free to enter · no wallet connection required
Every trader who has used a prop firm knows the same story. You pass, you request a payout, and it gets denied by some hidden rule buried in the terms and conditions. A clause you were never shown, and a support ticket that goes quiet the moment you question it. For most firms, the ambiguity was always the product.
We think that kind of ambiguity is solvable by design, and it is the whole reason Northbook exists.
We designed the opposite of ambiguity. The entire rulebook is auditable. Two loss limits govern the account: a daily loss, and a static max drawdown that never moves once you open. Conduct rules exist too, no cross-account hedging, no latency arbitrage. Every one is written down in advance, so nothing is invented after you win.
Payouts settle on-chain in USDC and leave a public transaction hash you can verify independently, no queue, no discretion. And solvency is not a promise: a public on-chain USDC vault is held at ≥15-20% of all funded capital, multiples above expected liability.
Pass rates, payout latency and breach data are published from day one and not curated afterwards, including the quarters that make us look bad. A firm that only shows its wins is telling you what it does with the losses.
Funded accounts are priced against Hyperliquid live order books rather than a synthetic feed built in-house, so the prices you trade at are the prices everyone else sees.
Crypto never closes, so neither does your account.
On-chain capital
for your edge
A proprietary trading firm provides the capital so you can trade larger than your own account allows. You pass an evaluation to show skill and risk discipline, then trade a funded account and keep most of the gains. You bring the skill, we bring the capital.
No. The only money you put in is the one-time evaluation fee. Evaluations and funded accounts run in a simulated environment priced against live markets, so there are no deposits, no margin calls and no bills afterwards. The worst case is that an account hits its loss limit and closes.
Breaching a loss limit, either the daily loss or the max drawdown, simply ends that evaluation: no hidden penalties, no clawbacks, nobody chasing you, and you can purchase a new challenge at the listed fee whenever you are ready. The rulebook also lists prohibited conduct such as cross-account hedging, latency arbitrage and exploiting a pricing defect. Those are not automatic: we flag the account, tell you exactly what we observed, and give you a chance to respond before any decision.
Once all your positions are closed, request a payout from your dashboard. The books settle and your share is sent in USDC to your wallet by smart contract, leaving a public transaction hash. There is no minimum holding period and no cap on how often you withdraw.
Our prelaunch list, where the top 100 win a free challenge account each, total $1,000,000 in value. You earn scores for your trading footprint and your X (Ethos) reputation, and can climb further by having others back you.
Not to enter. The waitlist reads public on-chain history from an address you paste. There is no connection, no signature and no permission granted. You will sign from that wallet later, only when claiming an account at launch.