> ## Documentation Index
> Fetch the complete documentation index at: https://docs.speculate.trade/llms.txt
> Use this file to discover all available pages before exploring further.
# HyperStake
> One-tap leveraged bets on Hyperliquid
Everywhere else on Speculate, you trade with a **simulated** balance — the stakes are real, the fills are not. HyperStake flips that.
HyperStake is a separate, **real-money** product. Every bet you place is executed as a real position on **Hyperliquid perps** — not on Speculate's simulated engine. There's no paper balance here. Compare that to [competition trading](/trading/overview), where you get a \$10,000 simulated balance and your real risk is capped at your entry fee.
No charts to read, no order book to manage. Pick a side, pick a payout, tap once.
## How a bet works
A HyperStake bet has four inputs. You control all four; the platform does the rest.
**BTC** or **ETH**. That's the full list — HyperStake keeps the surface area small on purpose.
**UP** or **DOWN**. You're betting on where price goes from here.
This is your intended maximum loss on the bet — anywhere from $1 to $**50,000**.
Quick-picks are **2x, 4x, 10x, 25x, 50x, and 100x**, with a slider for anything in between up to **100x**. The multiplier sets your payout, not a leverage dial — there is no leverage slider in HyperStake. Leverage is derived automatically from the asset you pick.
If you win, you profit **(k − 1) × stake**. A 4x bet that wins pays out 3x your stake in profit, on top of getting your stake back. The higher the multiplier, the farther your take-profit sits and the lower the odds of hitting it — the fair win probability is roughly **1/k**.
Perpetuals are leveraged and high-risk. Only stake what you can afford to lose — a stopped-out bet loses your full stake, and higher multipliers are far less likely to pay out.
## Multiplier, odds, and profit
The math is the same for every bet: pick a bigger multiplier, accept lower odds (a target that sits farther away), in exchange for a bigger payout.
| Multiplier (k) | Fair win probability (\~1/k) | Profit if you win |
| -------------- | ---------------------------- | ----------------- |
| **2x** | \~50% | 1x stake |
| **4x** | \~25% | 3x stake |
| **10x** | \~10% | 9x stake |
Custom multipliers up to **100x** follow the same curve — the fair odds keep shrinking as k climbs.
## Assets
Only two assets are live today, each with its own leverage ceiling and stop distance:
| Asset | Max leverage | Stop distance |
| ------- | ------------ | ------------- |
| **BTC** | up to \~40x | \~1.2% |
| **ETH** | up to \~25x | \~1.6% |
These parameters are what the system uses to derive your position's actual leverage on Hyperliquid — you never set leverage directly.
## Safety
HyperStake is built to fail safely rather than surprise you:
* **The stop always sits inside your liquidation price.** A normal stop-out happens before liquidation ever could — a losing bet costs you your stake, not a liquidation.
* **Entry uses an aggressive fill** that can cross the book by up to **1%** to get you in fast. If it can't fill at all, the bet **fails outright and you are not charged**. Because your stop is measured from the quote price, a fill up to 1% away can make your realized loss slightly exceed your stake.
* **One open bet at a time.** You can't stack HyperStake positions — wait for the current one to resolve (it settles automatically at its target or stop) before opening another.
* **Take-profit and stop-loss are grouped for you** as a single **OCO (one-cancels-other) bracket** placed directly on Hyperliquid. You don't manage two separate orders.
## One-tap signing
There's no wallet pop-up per bet. Bets are signed for you server-side using a **delegated session signer**, so placing a bet is genuinely one tap — pick your four inputs and go.
See how deposits and withdrawals move USDC between your wallet and your Hyperliquid account.