Stock and commodity perps on Hyperliquid
Trade stocks and oil around the clock.A guard on every position.
Bulwark watches your whole account’s margin and steps in before liquidation: it trims positions and tops up from your own idle balance, in stages you set. It only ever reduces risk.
- Your funds stay in your Hyperliquid account
- Reduce-only engine
- Open-source guard
Illustration. Your lines and limits are numbers you set.
Markets
Stocks, indices, oil and metals. One account.
Trade.xyz perpetuals on Hyperliquid, open around the clock. Prices below are live from Hyperliquid.
Connecting to Hyperliquid…
How it works
You say the limit. The guard holds it.
Liquidation is decided by your whole account, not one chart. So the guard watches the account.
Say your limit
Type a rule in plain words, with your own numbers. You check the exact rule and sign it before it applies.
It watches your margin
Every price tick, across every market and dex you hold, computed the way Hyperliquid computes liquidation: per margin pool, not per chart.
It steps in, in stages
Trim, top up from your idle balance, trim harder. Reduce-only orders at your slippage limit, plus stops resting on the exchange in case we are down.
See it work
From one sentence to a guarded account
The real flow in the app, playing on its own. Your numbers appear as “your line”: the app never fills them in.
Hover to pause. Tap a step to jump to it.
What you get
A guard you can read, test and stop
Plain-language rules, a simulator on your own account, and a log of everything it does.
Write limits in your own words
See the crash before it happens
Every pool, every dex
Checked again right before every signature, in open code.
Reduce-only
Every action logged
Alerts on Telegram
Replayed on real crash days
What the guard did on real crash days, and what it didn’t
Replays on recorded mark prices with the guard’s own code. With the example settings it avoided every liquidation on three 2026 crash days, even with our server five minutes late, but it often kept little. Every result is here, including where it did badly.
Silver, 30 Jan 2026
| Lev. | No guard | On time | 1 min late | 5 min late |
|---|---|---|---|---|
| 3× | Liq. | 2.0% | 2.0% | 1.5% |
| 5× | Liq. | 0.04% | 0.1% | 5.6% |
| 10× | Liq. | <0.01% | 12.6% | 12.6% |
| 20× | Liq. | <0.01% | 15.5% | 15.5% |
No liquidation, but on time it kept almost nothing above 3×: it sold in steps all the way down. Late, the resting backstop closed in one go and kept more.
Oil, 23 Mar 2026
| Lev. | No guard | On time | 1 min late | 5 min late |
|---|---|---|---|---|
| 3× | 72.2% | 72.2% | 72.2% | 72.2% |
| 5× | 53.7% | 53.7% | 53.7% | 53.7% |
| 10× | Liq. | 11.3% | 18.1% | 18.1% |
| 20× | Liq. | 8.4% | 22.0% | 22.0% |
No liquidation where the account was otherwise liquidated. With our server late, the resting backstop sold in one go during the fall. At 3× and 5× no line was crossed.
SK hynix, 27 Jul 2026
| Lev. | No guard | On time | 1 min late | 5 min late |
|---|---|---|---|---|
| 3× | 62.1% | 62.1% | 62.1% | 62.1% |
| 5× | Liq. | 24.8% | 21.1% | 21.1% |
| 10× | Liq. | 19.6% | 17.5% | 17.6% |
| 20× | — | — | — | — |
The bad print reached the mark price, so liquidations were real. The guard kept 17.5% to 24.8% at 5× and 10×, on time or late.
What the replays show
- With the example settings it avoided all 8 crash-day liquidations, on time and with our server 1 or 5 minutes late: its last line rests on the exchange.
- It kept between $0.19 and $2,480 of $10,000. Avoiding liquidation is not keeping your money.
- Other settings changed the outcome a lot (oil at 20×: 1.5% to 32.8% kept), and one was liquidated with our server 5 minutes late.
- On six ordinary bad days it did nothing at 3× and 5×. At 20× it avoided three liquidations and cost 8.8 points on the fourth.
How each replay is set up
A cross long with 10,000 USDC of equity at 3×, 5×, 10× and 20× (up to each market’s maximum), with and without the guard. Example settings chosen for the test, not product defaults: below 2× trim back to 3×; below 1.5× trim back to 2.5×; below 1.2× close. Orders fill at the worst price a 1% slippage limit allows and pay 4.5 bps; the resting backstop at 1.2× fills at its limit only when the price is back within it.
What this does not prove
A replay is not a live cascade: our orders don’t move the recorded prices, depth isn’t checked, and our server being late is modelled only as a delay. A Hyperliquid outage would stop resting orders too. Nine days are nine days: the guard does not protect in every crash.
All results, the settings sweep and ordinary daysHow it differs
Built around the account, not the position
Bulwark is the first trading front end for HIP-3 stock and commodity perps whose guard watches your whole account’s cross margin and acts in stages: it trims, tops up from your idle balance, then trims harder. Existing tools work per isolated position (DeFi Saver, Keel) or only alert.
| Product | What it watches | What it does |
|---|---|---|
| Bulwark | Your whole account’s margin, per pool: cross and isolated, every dex you hold | In stages you set: trims, tops up from your idle balance, then trims harder |
| DeFi Saver | One isolated position at a time | Holds a target leverage band (up to 10×) and de-leverages when it drifts |
| Keel | Isolated HIP-3 positions; cross positions get an alert only | Adds margin near liquidation, or closes 25% when there is no collateral |
From their public pages and code as of October 2026. If we have this wrong, tell us and we will correct it.
Security
Your money never leaves your account
You approve a guard key on Hyperliquid. Hyperliquid lets such keys trade but never withdraw. Reduce-only is our engine’s limit, not Hyperliquid’s, so the checks run in open code before every signature. The key expires when you choose, and you can stop it at any time.
Hardware-backed guard keys
Backstop on the exchange
Kill switch
Fees
One small fee, the same on every market
Trading3 bps0.03% per order
Added to orders you place, through a Hyperliquid builder code. Shown before you confirm. You approve a cap and can lower it to zero.
GuardIncludedno subscription
Guard orders carry the same 3 bps as your own orders. Nothing else.
Your fundsOn Hyperliquidnever with us
No deposit to Bulwark. You withdraw on Hyperliquid whenever you like.
During the testnet preview no fee is charged.
FAQ
Questions
The short answers. The docs have the long ones.
Sleep through the open.
Set your limits once. The guard keeps watch, and you can read every move it makes.