HL Privateer - an agentic open fund experiment on Hyperliquid
EXPERIMENT CONCLUDED
HL Privateer was an experiment in running an agentic trading desk on Hyperliquid. A crew of 7 LLM agents (Claude/Codex) proposed discretionary long/short trades with structured reasoning. A deterministic risk engine hard-gated every proposal before the OMS could execute. The whole thing ran on a single home server behind a Cloudflare Tunnel.
Key ideas
- Fail-closed risk gates — 11 sequential checks as pure functions. No I/O, deterministic. Any failure = DENY.
- AI proposes, never executes — agents output structured proposals with conviction scores. Only the runtime can place orders.
- Fire-and-forget trades — SL/TP placed on Hyperliquid at entry. No trailing stops, no runtime rebalancing.
- Event-sourced audit trail — hash-chained (SHA-256) audit events across all proposals, decisions, and executions.
- x402 machine payments — pay-per-call API for agent-to-agent data markets. External agents pay USDC on Base to consume signals.
- State machine — INIT, WARMUP, READY, IN_TRADE, HALT, SAFE_MODE. Dependency errors trigger SAFE_MODE (risk-reducing only).
Data flow
Hyperliquid Agent Runner
(API + WS) (7 LLM roles)
| |
| ticks | proposals
v v
+--------------------------------------------+
| Runtime |
| |
| Market Adapter ----> Risk Engine |
| (11 checks, |
| pure fns, |
| fail-closed) |
| | |
| ALLOW | DENY |
| | |
| OMS -----------------> Hyperliquid
| (place, fill, |
| reconcile) |
| | |
| +------------------------+---------------+ |
| | Redis Streams (12 typed) | |
| +--------+-------------------+-----------+ |
+----------+-------------------+-------------+
| |
+------+-----+ +-----+------+
| WS Gate | | REST API |
| (fanout) | | (JWT/x402) |
+------+-----+ +-----+------+
| |
v v
+---------------------------------+
| ASCII Trade Floor UI |
+---------------------------------+