Execution on Hyperliquid

HyperVeil executes the pool's residual against Hyperliquid's order book and liquidity through HyperVeil pool accounts. Prices, depth and funding rates are Hyperliquid's.

• Users are not individual Hyperliquid addresses, so there is no per-user clearinghouseState to look up.
• The pool's aggregate activity on Hyperliquid stays visible on Hyperliquid's public interfaces. That is expected; see What's public / what's private.
• Hyperliquid applies per-IP and per-address limits, including open-order caps and address action budgets. Order batching and residual flow are designed around those limits.

HyperVeil describes its relationship to Hyperliquid as using Hyperliquid's markets and liquidity; it makes no claim of partnership or endorsement.