Comparing Onchain Prop Firms: The Full Guide
Everything you need to know before picking a funded trading account — profit splits, rules, account sizes, chains, and who each firm actually suits.
Introduction
Prop trading — the practice of trading with a firm's capital instead of your own — has been a fixture in traditional finance for decades. The model is straightforward: a firm provides capital, you trade it, and profits are split between the two of you. But legacy prop firms come with opaque execution, centralized custody risk, and a conflict of interest where profitable traders can actually become a liability to the firm's balance sheet.
Onchain prop trading flips that model. By moving evaluations, execution, and payouts onto blockchain infrastructure, these firms offer transparent rules enforced by smart contracts, verifiable trade histories, and instant stablecoin payouts directly to your non-custodial wallet. No bank delays, no arbitrary holds, no wondering if the payout is real.
"Retail-focused prop firms operate fully on a B-book model — if their traders make money, the firm has to pay out from its own balance sheet. Having a lot of good traders becomes a liability." This tension is exactly what onchain infrastructure aims to solve, by enabling transparent A/B booking and trustless settlement.
As of mid-2026, Hyperliquid has emerged as the dominant venue for onchain prop trading — a high-performance L1 capable of 100,000+ TPS with sub-100ms latency and over $8B in daily volume. Nearly every major onchain prop firm has built on or is migrating to it. This guide compares the leading firms in the space, covering profit splits, rules, account sizes, chains, and token programs so you can make an informed decision about where to trade.
What to Look For
Before picking a firm, you need a clear framework for evaluating them. Not all onchain prop firms are equal, and the details buried in their rules pages can make or break your experience. Here are the six criteria that actually matter.
Profit Split
The profit split is the percentage of net gains you keep as the trader. The current market standard for onchain firms sits between 80% and 90%, with Hypernova leading at 90% and most others at 80%. Watch out for hidden fees — evaluation costs, platform fees, or withdrawal charges — that can erode the effective split well below the headline number. A firm offering 80% with no hidden costs can end up paying more than one claiming 90% that nickels-and-dimes you on withdrawals.
Max Account Size
Account ceilings directly affect how much capital you can deploy. Some firms start you at $10K, while others scale up to $1M. If you're a proven trader looking to deploy serious size, a $10K cap will frustrate you regardless of how good the split is. On the other hand, newer traders might prefer a smaller starting account where the stakes feel manageable and the evaluation fees are lower.
Rules & Drawdown Limits
This is where most traders get caught out. Key numbers to check: maximum daily loss (typically 4–5% of account), maximum total drawdown (8–10%), profit targets for evaluation phases (commonly 5–8%), and any consistency rules that cap daily gains or require minimum trading days. Some firms have no time limits at all — a major plus — while others will disqualify you for inactivity. Read the fine print. Then read it again.
Chain & Settlement
The underlying chain determines your settlement speed, gas costs, and counterparty risk. Hyperliquid dominates the space for good reason: it offers CEX-like speed with DEX-level self-custody. Payouts on Hyperliquid-based firms typically settle in USDC directly to your wallet, often within hours. Firms on other chains (like gTrade's Arbitrum-based infrastructure) offer different trade-offs worth understanding, especially around available trading pairs and liquidity depth.
- Profit split % — The higher the better, but verify that hidden fees don't eat into it. Current range: 80–90%.
- Max account size — From $10K to $1M. Match this to your trading style and ambitions.
- Drawdown rules — Daily loss limits (4–5%), max drawdown (8–10%), and consistency requirements. The stricter the rules, the harder to survive a drawdown.
- Chain / settlement — Hyperliquid is the current standard. Check if payouts are truly onchain or involve off-chain steps.
- Payout frequency — Some firms offer on-demand payouts (within hours); others require weekly or biweekly cycles.
- Token / rewards program — Several firms offer tokens or points programs that boost your effective earnings. Worth factoring in, especially if you're trading actively.
Firm-by-Firm Breakdown
Below is our analysis of each firm currently listed on OnchainProps. We've reviewed their public documentation, tested their platforms where possible, and tracked community sentiment. A word of caution: rules change frequently in this space — always verify the latest terms directly on each firm's website before committing evaluation fees.
Hypernova is the headline act of onchain prop trading right now. Founded by Anar Bayramov (former DeFi investor at RockawayX) and Nijat Bakhshaliyev (ex-senior engineer at Coinbase and Citi), the firm just closed a $3M pre-seed round led by Lemniscap with backing from CMS Holdings, Very Early Ventures, and a roster of Hyperliquid ecosystem angels. A $1M slice of that raise is going directly into a payout reserve for instant onchain payouts. During its closed alpha, Hypernova onboarded 250 traders and funded over 20 accounts with total payouts exceeding $30K. The 90% profit split is the highest confirmed in the space. Trading rules are enforced by smart contracts, and the firm can dynamically route positions to market — addressing the B-book conflict that plagues traditional prop firms. Public launch is expected within two months. Best for: experienced traders who want the highest split and don't mind a $200K cap.
Propr brands itself as the first prop trading firm built natively on Hyperliquid, and the numbers back the claim. With access to over 150 tradeable assets — including crypto, equities, and commodities via Hyperliquid perpetuals — and a $1M maximum account size, it's the most scalable option on this list. There are no time limits, no hidden consistency rules, and payouts settle on-demand in USDC with an average processing time of about five hours. Every position is transparently A/B booked and verifiable onchain. Propr also publishes its pass rates and revenue figures in real time. The $PROPR token is coming (seed round at $17.5M FDV, TGE targeted for August 2026), and the existing points program distributes 10% of weekly revenue in $HYPE to active traders. Over 1,000 AI agents already trade on Propr's API, making it agent-friendly too. Best for: traders who need scale, want asset diversity, and value radical transparency.
Carrot Funding is the main non-Hyperliquid option on this list, built on Gains Network's gTrade protocol (with Hyperliquid support coming soon). It stands out for its verification infrastructure: Carrot uses Rethink Finance vaults for capital safety, gTrade for execution, and recently integrated the Oasis ROFL framework to cryptographically verify its risk engine — meaning evaluation metrics, payout calculations, and trading rules can be independently verified onchain. The two-phase challenge requires a 5% profit target in evaluation and 8% in verification, with 5% max daily loss and 8–10% max total drawdown. The platform supports 165+ assets across crypto, forex, and commodities through a custom trading terminal. Payouts are on-demand in USDC. Best for: traders who want verifiable infrastructure beyond just Hyperliquid, or who are already active in the gTrade ecosystem.
Vanta Trading takes a different approach from every other firm here. Built by Taoshi, it combines Bittensor's decentralized AI subnet with Hyperliquid's trading infrastructure through a system called Hyperscaled. The platform launched in February 2026 and claims to offer 100% profit splits with account scaling up to $2.5M and a simple one-step evaluation. Traders can use the Vanta Desk or trade natively on Hyperliquid. The broader Taoshi ecosystem also includes Glitch Financial (automated trading, in beta) and 0x_Markets (a DEX for crypto, currencies, and commodities). The AI-powered angle is novel but adds complexity — the system uses decentralized intelligence for performance verification, and the economics involve alpha tokens locked in smart contracts. Best for: traders interested in AI-powered infrastructure and the Bittensor ecosystem, who are comfortable with a newer and more experimental platform.
HyperPNL is a fully decentralized prop trading protocol that emerged from the Hyperliquid Community Hackathon. The model is permissionless: traders pay a fee to enter onchain evaluation challenges, with 75% of challenge fees flowing into a Treasury Pool that funds real trading accounts. It's the most protocol-native option on this list — there are no intermediaries or trust assumptions, and the entire flow from challenge entry to payout runs onchain. The token rewards program acts as an additional incentive layer on top of the 80% profit split. Because it's protocol-based rather than company-operated, HyperPNL appeals to traders who want maximum decentralization. The trade-off is a less polished UI and fewer support resources compared to more venture-backed competitors. Best for: DeFi-native traders who prioritize decentralization and permissionless access over polish.
FoxyFi (also known as Foxify) takes the lowest-barrier approach in the space. With instant funding up to 10,000 USDC and no multi-phase evaluation process, it's designed for traders who want to start immediately. A minimum deposit of just 100 USDC gets you a funded account with access to 220+ markets including crypto, gold, silver, and indices, with leverage up to 100x. The 80% profit split is standard, and the token program adds an extra earnings layer. The $10K account ceiling is the lowest on this list, which limits scalability for larger traders but makes it the most accessible entry point. Hyperliquid integration is in the works but not yet live. Best for: newer traders who want instant access without evaluation hurdles, or experienced traders looking for a low-risk way to test a new platform.
Final Verdict
There is no single "best" onchain prop firm — the right choice depends on what you prioritize. Here's how the landscape breaks down by use case:
If you want the highest profit split, Hypernova's 90% is unmatched — though its public launch is still weeks away. If you need the most scalable account, ProprXYZ's $1M ceiling and 150+ asset universe make it the clear choice for serious traders. If you want verifiable infrastructure beyond Hyperliquid, Carrot Funding's cryptographic verification layer via Oasis ROFL sets a new standard. If you're drawn to AI-powered trading infrastructure, Vanta Trading's Bittensor integration is the most experimental (and potentially rewarding) option. For maximum decentralization, HyperPNL's fully onchain protocol approach stands alone. And if you just want to start trading today with the lowest barrier to entry, FoxyFi gets you funded instantly with a 100 USDC deposit.
The real edge in onchain prop trading isn't the split — it's the transparency. When rules are enforced by smart contracts and payouts are verifiable onchain, the conflict of interest that defines traditional prop firms disappears. The firms that lean hardest into that transparency are the ones most likely to survive.
A few final caveats: terms change often, rules can be updated without notice, and this space is evolving rapidly — Kraken's acquisition of Breakout in early 2026 signals that major exchanges are paying attention. Always verify the latest rules on each firm's own site. Consider starting with a smaller account to validate the platform's fit before committing serious capital. And as always: this is not financial advice. DYOR.
Ready to compare side by side?
See all firms in one table — profit splits, account sizes, chains, and token programs at a glance.
View Comparison Table →