What happens after you place an order
Fexr checks your order against your limits, signs it with a trading key your wallet approved, and sends it to the venue. Perps and spot buys fill on Hyperliquid today. Swaps are routed across 13 venues.
From what you typed to a filled order
The same four steps run whether you place the order yourself, a strategy places it, or the agent does.
- You say what you wantType it to the agent, tap it in the order ticket, or set a rule. The agent turns a sentence into a plan with the size, leverage and exits filled in.
- Fexr checks itTen checks run on our servers: your daily limit, leverage, price age, position size and six more. If one fails, nothing is sent.
- The order goes to the venueFexr signs it with your trading key and sends it. It fills in your own account on that venue.
- You get a receiptWhere it filled, the price, the fees, and how much of today's limit is left.
Where each kind of order fills today
A venue is the market where an order meets a buyer or seller. Fexr chooses where to send each kind of order, and right now that is one venue for trading and many for swaps.
| Product | Where it fills | Whose account | What Fexr can't do |
|---|---|---|---|
| Perpetuals | Hyperliquid's order book | Your own trading account, funded from your Fexr wallet | Withdraw or transfer your funds. Hyperliquid doesn't allow a trading key to do either |
| Spot buys | Hyperliquid's spot market | Your own balance | Move what you bought out of your balance |
| Swaps and bridging | Routed by LI.FI across 13 bridges and DEXs, including Across, Stargate, Jupiter and Circle CCTP | Your wallet signs each swap | Sign a swap without you |
Why Hyperliquid for trading: we route there because the order book is deep and every fill is public onchain. A second trading venue is in progress. We'll name it here when it is live, not before.
The ten checks on every new order
The checks live in the code that sends orders. No plan or setting turns them off. Closing orders skip them, so a check can never keep you in a position you are trying to leave.
- Asset list. Only assets on Fexr's list
- Sanctions screen. Your wallet against the OFAC list
- Platform brake. Orders pause if volume spikes 5Γ in a minute
- Leverage limit. 12Γ crypto, 5Γ commodities, 3Γ stocks
- Daily limit. The amount you set for the agent
- Position size. No single asset above 30% of your account
- Price age. The price must be under 30 seconds old
- Liquidation distance. At least 10% away
- Funding rate. Extreme funding is blocked
- Market hours. New stock positions only while NYSE is open
The full rules, and what happens when you turn the agent off, are on Agentic safety.
What Fexr earns on an order
| Order | Fexr's fee | Paid how |
|---|---|---|
| Perp trade | Up to 0.1% of the trade, on top of the venue's own fee | As a builder fee you approve once from your wallet. Builder fees are public onchain, so anyone can see what Fexr earns |
| Spot buy | None | You pay the venue's fee only |
| Swap | 0.5% | As an integrator fee, shown in the quote before you confirm |
Plans are separate from order fees. See Plans.
If a venue goes down
Positions open on a venue carry that venue's risk, as they would anywhere. If the venue stops, those positions wait on it.
Everything that is Fexr's keeps working: your wallet and keys, your limits, your history, your strategies and the agent. Fexr also doesn't treat a venue outage as you removing the trading key, so your strategies resume when the venue does.
Common questions
So is Fexr a Hyperliquid front-end?
Fair question. A front-end is a skin on your exchange account. Fexr is the account around it: the wallet, the keys, the limits and the agent. Hyperliquid is where our perps fill today.
Does Fexr hold my money?
No. Your funds stay in your own wallet and your own trading account. Fexr holds a trading key that can place and cancel orders but can't withdraw or transfer.
How do I fund trading?
Fund your Fexr wallet from any chain. The wallet moves USDC into your trading account when a trade needs it, and the receipt shows the transfer.
Can I see where an order filled?
Yes. Every receipt names the venue, the price and the fees. Fills are public onchain too.
How do I stop Fexr trading for me?
One tap in the app turns the agent off: it ends any session, cancels open orders and closes positions. To remove the trading key from the venue as well, sign one transaction from your wallet.
Will Fexr route to other trading venues?
A second trading venue is in progress. Until it is live, every perp and spot order fills on Hyperliquid, and this page will say so.