How Matches Work

Waiting for funds

You’ve created the match and picked the stake and duration. You now need to send your stake (USDC) to the match’s escrow. Until that’s done, the match is only waiting for your funds.

Waiting

Your stake is in escrow. The match shows in the lobby so someone else can join. They’ll send the same stake amount to the same escrow. No one can take the funds; they’re locked until the match finishes.

Active

Both stakes are in escrow and the match has started. A short countdown runs, then the trading time begins. Both of you trade on Hyperliquid; whoever has the better PnL when time runs out wins the pot.

Completed

Time’s up. The system figures out who had the better PnL (or if it’s a tie). The winner gets the full pot from escrow, or in a tie both get their stake back.

Cancelled

The creator cancelled the match while it was still waiting for an opponent. The creator’s stake is sent back from escrow.