Glossary
A list of key terms used across XATA
General
Hyperliquid
A decentralized perpetuals trading platform with its own high-performance L1 chain and orderbook-based trading, designed for low latency and high throughput.
HyperCore
Hyperliquid’s L1 execution layer. XATA connects to HyperCore for perps trading on Hyperliquid, alongside other supported exchanges.
Aster
A decentralized perpetual exchange that XATA connects to for multi-exchange trading.
Lighter
A decentralized exchange that XATA connects to for onchain perpetuals trading with deep liquidity.
Hyena
A decentralized exchange supported by XATA for onchain perpetuals trading.
Kuru
A decentralized exchange supported by XATA for onchain perpetuals trading.
Nado
A decentralized exchange supported by XATA for onchain perpetuals trading.
Paradex
A decentralized exchange supported by XATA for onchain perpetuals trading.
Grvt
A decentralized exchange supported by XATA for onchain perpetuals trading.
Trade
Perpetuals
A type of derivative contract with no expiration date, allowing traders to speculate on the price of an asset over time.
Entry price
The average price at which your position was opened, weighted by size and direction (long/short).
Mark price
A fair price used to calculate PnL and liquidation. It’s derived from external price feeds and helps prevent manipulation.
Open interest
The total number of active perpetual contracts (long and short) that have not yet been closed or settled.
PnL (Profit and Loss)
Shows how much profit or loss your position has gained or lost.
Unrealized PnL
The potential gain or loss if your open position were to be closed at the current mark price.
Realized PnL
The actual profit or loss you’ve made from closed positions.
Leverage
The multiplier used to increase position size relative to your margin. For example, 10x leverage allows a $100 margin to control a $1,000 position.
Margin
The collateral required to open and maintain a position. More leverage means less margin required, but also more risk.
Isolated Margin
A margin system where the collateral is limited to a single position, so losses are contained and don’t affect your whole account.
Maintenance Margin
The minimum amount of collateral required to keep a position open before it gets liquidated.
Funding Rate
A recurring payment between long and short traders to keep the contract price in line with the spot price.
Liquidation
Occurs when your position’s losses approach your margin amount. If your position hits the liquidation price, it’s force-closed to prevent going negative.
Earn
Cashback
XATA gives you 10% cashback on builder fees for every trade you make, directly returning value to users.
Affiliate
A system that rewards you for referring users to XATA. You can earn up to 90% of the trading fees your referees generate.
Referrer
The person who invited another user to XATA using their unique referral link.
Referee
The new user who joins XATA using a referrer's code.
XATA Features
Agentic execution layer
XATA's core architecture that enables AI agents and automated strategies to execute trades across multiple onchain exchanges.
Copilot
XATA's built-in AI trading assistant that provides market analysis, trade recommendations, and platform guidance. Offers two modes: Vibe Trading for market signals and Deep Chat for learning.
Grid strategy
An automated trading strategy that places buy and sell orders at regular intervals within a defined price range. Available for perps markets, with spot grid strategies coming soon.
Vaults
Investment pools where users deposit funds into strategies managed by other traders or protocols. Minimum deposit of 5 USDC with a 1-day lock-up period after deposit.
HIP-3
Builder-deployed perpetual markets on Hyperliquid that can be traded through XATA using existing perps and spot balances via DEX abstraction. Builder DEX fees are 2x validator DEX fees.
Spot trading
Direct buying and selling of crypto assets (as opposed to derivatives). Available on XATA for pairs like HYPE/USDC.