How Pilot works

Pilot uses a delta-neutral structure designed to capture perpetual funding while minimizing directional exposure.

The two hedge legs

For the selected market, Monetrix opens:

1. A long spot position
2. An equal-notional short perpetual position

The matched notional is intended to keep net directional exposure close to zero while the short perpetual position receives funding when funding is positive.

Equal notional does not mean that 50% of capital is assigned to each side. Capital assigned to spot and perpetual margin varies according to the selected risk mode.

Strategy lifecycle

1. Verify the connected wallet and USDC balance
2. Create or verify a dedicated strategy account
3. Choose HYPE or BTC
4. Choose a Health Factor mode
5. Authorize the trade-only API wallet
6. Approve the maximum builder fee
7. Confirm the final configuration
8. Open both hedge legs
9. Monitor and rebalance automatically
10. Close both legs when the user exits

Opening controls

Before opening the position, Monetrix verifies:

• Strategy-account balance
• API wallet authorization
• Builder-fee approval
• Market liquidity
• Supported position size
• Health Factor parameters
• Account isolation

The strategy is shown as Running only after both legs have executed and net exposure is within the permitted tolerance.

Continuous management

While Pilot is active, Monetrix manages:

• Health Factor
• Net exposure
• Position sizing
• Rebalancing
• Funding capture
• Emergency risk reduction

If Health Factor reaches the warning line, Monetrix may partially close the position to raise HF and avoid liquidation.