AI trading and Hyperliquid definitions.

Capital and measurement

• Capital turnover

  Capital turnover describes how much trade notional is executed relative to capital over a stated period. For an AI trading agent, the ratio measures trading activity. Profitability and decision quality require separate evidence.

• Position leverage vs account leverage

  Position leverage compares a position's notional exposure with its supporting margin. Effective account leverage compares the gross notional of all open positions with account equity. A 3× position does not mean that the whole account has 3× exposure.

• Account equity vs deposits

  A deposit records money entering a defined account or wallet boundary. Account equity is the value of that account at a point in time. Existing funds, transfers, trading results, fees and perpetual funding can all contribute to the equity you see.

Agent and account terminology

These topics already have a home in the product documentation or research library.

• Agentic trading

  How model-driven decisions differ from fixed rules.

• Harness, runtime and guardrails

  The operating layer around a trading model, and the evidence needed to assess its controls.

• Backtest, paper, shadow and live evidence

  What each evaluation environment can establish.

• Agent wallet and execution account

  The signing authorization and the account that holds funds.

• Turn, fill, trigger and directive

  The terms used in DXAP's activity records and controls.

• Policy and strategy

  Execution rules versus written instructions.

• Pause, revoke and close

  Three different operations with different consequences.

See how DXAP works

DXAP runs AI trading agents on Hyperliquid using your strategy and configured limits. Read the product overview before choosing whether to use it. Alpha access requires a referral code; agents can lose money.