BT365 trading glossary

Each entry is one term, one definition that stands on its own, and the specific way BT365 implements it, with a link to the article that goes deeper. The definitions are written from the platform's own code and venue documentation rather than from general explainers, which is why some of them are narrower than the versions you will find elsewhere.

Perps and margin​

• Unified margin: one collateral balance shared by every open position in an account.
• HIP-3: Hyperliquid's builder-deployed perpetual markets, each with its own clearinghouse.
• Walk-the-book slippage estimate: the cost of a market order computed by filling it level by level against the live order book.

Prediction markets​

• HIP-4 outcome markets: Hyperliquid's prediction markets, traded as positions on the exchange's own order book.
• NegRisk: Polymarket's grouping of mutually exclusive outcomes, where exactly one wins.

Chains and venues​

• HyperCore and HyperEVM: the two execution surfaces of the Hyperliquid chain.
• Bonding-curve graduation: the point where a launchpad token leaves its curve and becomes a DEX pool.

Agents and accounts​

• Hold decision: a trading agent's recorded choice not to trade.
• Owner-scoped, platform-custodied: how a BT365 trading agent's wallet is held and controlled.
• Time-weighted return: the leaderboard measure that a trader's own deposits and withdrawals cannot move.

BT365 is not available in every jurisdiction, and nothing on these pages is investment advice. Trading perpetual futures and prediction markets carries risk of loss.