Wrap any Hyperliquid position into an NFT you can sell.
HyperWrap puts a live perp inside a one-of-one NFT. The position stays open, and whoever holds the NFT owns it.
Every card on this table is a real open position, graded live.
No two positions are the same.
Two traders can be long the same market and share nothing else: not the entry, not the leverage, not the liquidation price. A fungible token needs identical units, so it can't carry a position. An NFT can.
Sell a position without touching the order book.
Closing a large position means crossing the book: the spread, the taker fee and whatever your own size does to the price, in public. A wrapped position changes owner in one transaction. No order is placed, the price doesn't move, and the buyer gets the position exactly as it stands.
Closing through the book
Live from HyperliquidThe ask moves with the position.
A position's value changes every second, so a fixed price goes stale at once. You set the ask as a percentage of equity, and the contract reads equity from HyperCore at the moment of sale.
Why anyone buys an open position.
The market hit its open-interest cap.
Hyperliquid rejects new exposure once a market reaches its cap. Buying a wrapped position adds none, so it is the way in when the order ticket says no.
Checking the caps…The holder is about to be liquidated.
Selling at a discount beats losing the margin. The buyer adds margin and takes over the trade.
—The size is too big to open quietly.
Building a large position moves the market against you, one fill at a time. Buying one takes a single transaction at the price you agreed.
—Wrapped means nobody can touch it.
Wrap a position.
Open a new position inside its own NFT, or bring one you already hold. Your wallet confirms every step.
These contracts are new and unaudited. Start small.
What happens
Grade your position.
Every position gets a grade from 1 to 10, worked out from live data: how far it sits from liquidation, what it returns on margin, whether funding pays it, and how easily the market can absorb it.
The market.
Positions with a cert number and an ask come first. Below them is every other position we can see on Hyperliquid, open to offers. Offers are signed, and no money moves until the holder accepts.
Population report.
How many positions sit at each grade, market by market, across the largest accounts on Hyperliquid.
Notes.
Can I wrap a position I already have open?
Yes. A Hyperliquid position can't move between accounts, so it closes in yours and the same size opens in the NFT's own account. You pay normal fees on both sides, and we show the exact cost from the live book before you sign. From then on the entry stays with the NFT through every sale.
What if a wrapped position gets liquidated?
It is a real position the whole time, so it can be liquidated like any other. Anyone can add margin to a wrapped position, and a sale reverts if the position is gone.
How is the sale settled?
The buyer pays USDC on HyperEVM. In the same transaction the contract reads the position's equity, works out the price from your ask, pays you and hands over the NFT. The buyer sets a maximum, so a jump in equity can't surprise them.
Why an NFT and not a token?
Tokens suit identical units, which is why position tokens elsewhere are preset products with managed leverage. Your position has its own numbers, and an NFT hands over all of them in one piece.
Who decides the grade?
The formula does, from public Hyperliquid data. Open any position to see the four scores behind its number.
What can go wrong?
Everything that can go wrong with a perp. A position can lose its whole margin after you buy it, and smart contracts carry their own risk. Nothing here is financial advice.