Hypertake is an independent web interface for Hyperliquid's HIP-4 prediction markets (outcomes) and perpetual futures. You connect your own wallet; every order is placed, matched and settled on Hyperliquid, and your money stays in your own Hyperliquid account. Hypertake is not affiliated with or endorsed by Hyperliquid. Markdown of this page: https://hypertake.net/docs/outcomes/settlement.md. Full documentation index: https://hypertake.net/llms.txt
Prediction markets · Concepts
How markets settle
How HIP-4 markets settle: each market's own price source and TWAP window, who settles it, and when you're paid
Settlement is the moment a closed market's result is fixed and every share is converted to USDC: winning shares to $1, losing shares to $0. Each HIP-4 market names its own rule, time and settlement source before trading opens, such as "the 90-second TWAP of the Pyth BTC/USD price ending at 08:00". Hyperliquid then converts the shares in every holder's balance automatically.
Three things every market fixes in advance
- The rule
- What counts as Yes: "BTC above $81,000", "touches $92,500", "Arsenal is the sole winner of the Counted Play".
- The time
- When it's measured: a timestamp in UTC for price markets; a scheduled start and a resolution deadline for events.
- The source
- Which price or which official record decides it, and over what window. For price markets that's a named feed and a TWAP length; for events it's a named body, such as ESPN, the English Premier League or federalreserve.gov.
These come from the market's template, a fixed wording that Hyperliquid's validators vote on, filled in with the market's own values. A market that contradicts its template is "malformed and slashable by validators" (deployer docs). On Hypertake, open any market and read How it settles: the rule as one sentence, the timeline, the Source line and the full Rules.
What a TWAP is, and why markets use one
A TWAP (time-weighted average price) is the average of a price over a short window ending at the close. A 90-second TWAP ending at 08:00 averages the source's price from 07:58:30 to 08:00:00. Averaging means a single trade or a one-second spike right at the deadline can't decide the market on its own.
ExampleTom's BTC market at 08:00
- The market: BTC above $81,000 at 08:00 UTC, settled on the 90-second TWAP of the Pyth BTC/USD price.
- Tom holds 100 Yes shares. In the last 90 seconds the Pyth price sits around $81,050, then dips to $80,990 in the final second.
- The 90-second average is about $81,049, above the strike. The market settles Yes, and Tom's 100 shares pay $100.
- Had the market settled on the last tick alone, it would have gone No. Reading the source and window matters near the strike.
FlowPyth BTC/USD, 07:58:30 → 08:00:00 → average ≈ $81,049 > $81,000 → Yes → 100 × $1 to Tom's balance
Settlement sources in use
Not every market settles on the same price. These are the kinds of source the live markets named on 16 October 2026, read from Hyperliquid's own market listings:
| Source | Window | Real examples |
|---|---|---|
| Hyperliquid perp mark price ("BTC-USDC perp mark") | 60-second TWAP | BTC, ETH and HYPE above a strike at 17:00 UTC; gold, silver, oil, S&P 500 (xyz:SP500) and US100 index markets at 20:00–21:00 UTC |
| Hyperliquid perp mark price, for touches | 3-second TWAP | BTC touches $92,500 or $75,000 by 1 Nov; HYPE touches $105 or $75; oil (xyz:CL) touches $105 or $85 |
| Hyperliquid perp trade price ("the Hyperliquid BTC perp trade") | 90-second TWAP | BTC above $80,944 or $82,868 at 08:00 UTC on 17 Oct |
| Pyth price feeds (BTC/USD, ETH/USD, HYPE/USD, ZEC/USD; US500 and US100 index prices) | 90-second TWAP | ETH above $2,662 at 08:00 UTC on 19 Oct; ZEC above $1,057 on 23 Oct; S&P 500 above 7,805 |
| 1-minute candles of the Hyperliquid perp | 300-second TWAP | HYPE above $80 at 20:00 UTC on 30 Oct; stock perps such as TSLA, META and NFLX (xyz:TSLA…), all on the txyz venue |
| Hyperliquid's recurring rule (mark price, interpolated) | The mark at the exact second | The daily BTC and ETH binaries and the BTC price buckets at 06:00 UTC |
| An official record | Per the rules | NFL games: ESPN · Premier League matches: the English Premier League · the Fed decision: federalreserve.gov · the Ballon d'Or: France Football |
Hyperliquid's recurring markets don't name a source in their listing; their rule is in Hyperliquid's contract specifications: Yes "if and only if" the mark price, interpolated between the updates just before and just after the settlement time, is at or above the target. For these, Hypertake's Source line says "Settled by Hyperliquid. Its listing doesn't name a price source."
Who settles a market
| Market | Who submits the result | What keeps it honest |
|---|---|---|
| Recurring (daily BTC/ETH binaries, BTC buckets) | Hyperliquid's protocol, automatically | The rule in Hyperliquid's contract specs |
| Deployer markets (almost everything else) | The market's deployer, by its template's rules | Deployers stake HYPE (500k HYPE in Hyperliquid's July 2026 spec) and can be slashed by validator vote for settling wrongly, a malformed market, or leaving one unsettled for more than a week (announcement) |
Hypertake doesn't settle anything and can't change a result. It reads the result from Hyperliquid once it's recorded and shows it to you.
A market's lifecycle
- OpenListed on Hyperliquid and trading. You can buy, sell and set a take profit. The page shows when it ends.
- Closing soonWithin the hour, the end time turns to the warning colour; in the last 15 minutes the chart marks the close in orange. Prices often move fastest here.
- ClosedThe deadline has passed. Hypertake stops taking orders: the desktop shows Settling and where the market is heading, the phone Trading closed and Awaiting result.
- SettledThe result is recorded. Shares are converted to USDC in every holder's balance, and the page shows Resolved with what each side paid.
A touch market can jump from Open to Settled early: its template lets it settle as soon as the target is touched.
What happens at settlement, in order
The payout happens on Hyperliquid whether or not Hypertake is open. Hypertake only reports it.
Where the money goes
No claim button and no transaction to sign. If No had won, the shares would convert to $0 and leave your balance.
How long it takes
Hypertake can't promise a time, because it doesn't control settlement: it checks every few seconds and shows the result the moment Hyperliquid records it. Event markets settle when the official result is published and the deployer submits it; their rules give a resolution deadline, for example 24 hours after a Premier League kickoff. Until then your position shows Settling (desktop) or Awaiting result (phone).
When the source fails
- A delisted perp: the price templates say the market settles on the perp's settlement price at delisting instead.
- An external feed that stops: the external-price template falls back to the feed's official final price, then its last qualifying price, and resolves to 0.5 (each side paying 50¢) if no settlement price is verifiable 24 hours after the close.
- A cancelled or postponed event: each event template spells out what happens; for a Fed decision with no replacement decision, the rules resolve to No change.
After settlement
A settled market's page turns into its report: Resolved with the winning side (or Split for a fractional result), "Yes paid $X a share · No paid $Y a share", the chart from three hours before the close to twenty minutes after, the volume traded and, if you traded it, your result: what you bought, what you sold before the close, what settled and what you made or lost. For price markets the report shows the underlying's price at the close as "about": it's the Hyperliquid perp's last trade in that minute, close to but not the same as the official figure.
Do I need to do anything to get paid?
No. Settlement converts your shares to USDC in your Hyperliquid balance by itself, even if you never open Hypertake again.
Do all price markets settle on Hyperliquid's mark price?
No. Each market names its own source: some use the mark price, others the Hyperliquid perp trade price, a Pyth feed or 1-minute candles, averaged over 3, 60, 90 or 300 seconds. Check How it settles → Source on the market's page.
Can a result be wrong or disputed?
A deployer can be slashed by Hyperliquid's validators for settling against the template's rules. Hypertake has no say in the result and can't reverse a settlement.
Can I sell after the close?
No. Hypertake stops taking orders at the deadline. Your shares settle at the result.
What does Hyperliquid charge at settlement?
Hyperliquid charges outcome fees when a position is closed or settled, not when it's opened (Hyperliquid fees). Hypertake charges nothing at settlement. See Fees.
Last updated