Liquid
- Company typePrivate
- Founded2025
- HeadquartersNew York, United States
- Headcount1–10
- GTM typeB2C
- OfferingSoftware
Liquid firmographics
Firmographics- Name
- Liquid
- Legal name
- HyperSports, Inc.
- Website
- https://liquid.trade
- Company type
- Private
- Founded year
- 2025
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Liquid industry classification
Industry- Product category
- Decentralized Derivatives Trading Platform
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (523160), Securities and Commodity Exchanges (5232)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Liquidity Infrastructure (RFQ, order-book engines, matching, liquidity-as-a-service) (FSAPADAI)
- akta.pro secondary industries
- Liquidity Provision & Market Making Protocols (AMMs, concentrated liquidity, LP tooling) (FSAPAEAF), Liquidity Aggregation & Smart Order Routing (FSADAJAD), Liquidity Management & Market-Making Protocols (FSADAMAH)
Keywords
Where Liquid is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Liquid business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations
Revenue model
- Trading Fees: Taker and maker fees on perpetual futures trades. Taker fees are 4.5 bps, maker fees are 1.5 bps. Revenue is usage-based, generated per transaction.
- Funding Rate Spread: Hourly funding payments between long and short traders. Platform facilitates the payment exchange between traders on opposite sides of the market.
- Leverage Premium: Revenue opportunity from traders using leverage; margin requirements and leverage tiers vary by asset class (up to 200x on forex, 50x on crypto perps, 3x on pre-IPO).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard trading fees for perpetual futures |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Liquid product offering
Product offeringCore offering
Liquid operates a decentralized, non-custodial perpetual futures trading platform that aggregates multiple execution venues (Hyperliquid, Lighter, Ostium) and provides 24/7 leveraged trading across 500+ markets spanning crypto, equities, commodities, forex, and pre-IPO assets. The platform is differentiated by Co-Invest, a first-of-its-kind feature that embeds live trading execution directly inside ChatGPT, Claude, and iMessage chatbots, enabling users to research markets, size positions, and execute trades without leaving the AI chat interface. Users retain custody of their funds via on-device encrypted private keys, and trades settle instantly with maker fees of 1.5 bps and taker fees of 4.5 bps.
Product overview
Liquid is a unified multi-asset perpetual futures trading platform offering 24/7 market access across crypto, equities, commodities, forex, and pre-IPO assets with leverage up to 200x. The core Liquid Trading Platform aggregates multiple trading venues (Hyperliquid, Lighter, Ostium) and supports 500+ markets. Co-Invest is a major feature enabling trading directly within ChatGPT and Claude chatbots. Prediction Markets and Pre-IPO Perpetual Futures extend the platform into event trading and private company exposure. The platform operates non-custodially with user funds remaining in their own wallets.
Differentiator
Problem solved
Functional benefit
Brands
- Co-Invest: An AI-integrated trading application embedded in ChatGPT, Claude, and iMessage that enables users to research markets, analyze portfolios, and execute live trades across 500+ markets without leaving the chat interface.
Products and services
- Liquid Trading Platform A 24/7 multi-asset perpetual futures trading platform enabling retail users to trade crypto, equities, commodities, forex, and pre-IPO assets with leverage up to 200x. The platform aggregates multiple execution venues including Hyperliquid, Lighter, and Ostium, and operates on a non-custodial model where users retain control of their private keys.
- Co-Invest An AI-integrated trading assistant that enables users to research markets, analyze portfolios, and execute live trades directly within ChatGPT, Claude, and iMessage chatbots. Users can fund accounts, size positions, and execute basket orders through conversational interfaces with single-tap trade confirmation, all while maintaining non-custodial control of assets.
- Prediction Markets Event-based prediction markets covering politics, sports, finance, technology, crypto, and culture. Users can trade outcomes on elections, earnings, AI releases, token milestones, and other public events alongside traditional trading on the Liquid platform.
Quantifiable outcome
- Over $3 billion in trading volume processed across 40,000+ users since August 2025 launch
- +2 more outcomes
Companies that use Liquid
Customer profileSegments3 records
Ideal customer profiles2 records
Liquid technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
AI capability8 records
Feature5 records
Liquid partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core execution venue, execution venue, data provider and infrastructure.
- Hyperliquidcore execution venuePrimary execution venue for perpetual futures trading. Liquid routes trades to Hyperliquid's decentralized perpetual futures protocol.
- Lighterexecution venueExecution venue where Liquid routes user trades for certain markets.
- Ostiumexecution venueExecution venue for forex pairs. Supports up to 200x leverage on select forex pairs. Also used for delta-neutral hedging strategies in airdrop farming.
- Nasdaq Private Marketdata providerProvides oracle data for pre-IPO perpetual markets (SpaceX, OpenAI, Anthropic). Supplies secondary market transactions, bid/offer history, 409A valuations, and mutual fund marks for private company price discovery.
- StripeinfrastructureThird-party crypto onramp service provider for fiat-to-crypto conversion.
- GoogleinfrastructureCloud infrastructure and AI integration partner referenced in Terms of Service.
- CloudflareinfrastructureCDN and security infrastructure provider referenced in Terms of Service.
- VercelinfrastructureFrontend deployment and hosting infrastructure provider.
- CoinbaseinfrastructureCustody and infrastructure partner referenced in Terms of Service for digital asset handling.
- AWSinfrastructureCloud infrastructure provider referenced in Terms of Service.
Scale indicators5 records
Recent moves4 records
Expansion highlights6 records
Liquid competitors and assessment
Company assessmentBroad incumbents
- Coinbase: Largest US-regulated crypto exchange and a broader incumbent Liquid explicitly positions against on fees and AI features. Offers perpetuals, spot, custody, and increasingly tokenized RWAs, but lacks Liquid's pre-IPO synthetics and chat-native execution.
- Robinhood: Retail brokerage explicitly named by Liquid as a competitor on fees and 24/7 access. Offers equities and crypto but with limited leverage and no perps, pre-IPO synthetics, or AI-native execution.
Direct peers
- Drift Protocol: Solana-based perpetual futures DEX with multi-asset ambitions and prediction market integrations. Direct competitor in the on-chain leveraged multi-asset retail trading category.
- dYdX: Decentralized perpetual futures exchange with its own orderbook and app chain. Directly competes for retail perps volume, though focused primarily on crypto rather than multi-asset (stocks/forex/pre-IPO).
- GMX: Decentralized perpetual futures exchange using an LP-based model on Arbitrum/Avalanche. Competes directly for on-chain leveraged crypto trading, though lacks Liquid's multi-asset and AI-trading angles.
- Hyperliquid: Decentralized perpetual futures exchange and Layer-1 on which Liquid is built. Direct competitor in crypto perps, but also the core execution venue for Liquid — making it both a peer and a critical infrastructure dependency.
- Jupiter Perpetuals: Solana-based DEX aggregator that has expanded into perpetual futures exchange and trading. Competes for crypto-native multi-asset flow and is a comparable aggregator-plus-trader combination on a different chain.
- Ostium: Decentralized perpetuals venue for FX, commodities, and RWA. Execution partner for Liquid's forex and commodity markets, but also a direct competitor in the synthetic-RWA perps space.
- Lighter: Decentralized perpetual exchange on which Liquid routes trades. Overlap in execution venue; competes in the same perps trading category.
Emerging players
- Polymarket: Leading prediction market platform covering politics, sports, and current events. Liquid integrates prediction-market trading as a product line, making Polymarket a partial competitor in event-contract trading.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Liquid social profiles
Digital presenceLiquid financial estimates
Financial estimateRevenue estimate
Valuation estimate
Liquid leadership team
Management profileNumber of profiles
Profiles1 record
Liquid funding detail
Funding detailFunding overview
Funding rounds2 records
Investors9 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Liquid M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Liquid
What does Liquid do?
Liquid operates a decentralized, non-custodial perpetual futures trading platform that aggregates multiple execution venues (Hyperliquid, Lighter, Ostium) and provides 24/7 leveraged trading across 500+ markets spanning crypto, equities, commodities, forex, and pre-IPO assets. The platform is differentiated by Co-Invest, a first-of-its-kind feature that embeds live trading execution directly inside ChatGPT, Claude, and iMessage chatbots, enabling users to research markets, size positions, and execute trades without leaving the AI chat interface. Users retain custody of their funds via on-device encrypted private keys, and trades settle instantly with maker fees of 1.5 bps and taker fees of 4.5 bps.
Is Liquid a public or private company?
Liquid is a private company. It is classified as venture growth investor backed and is currently operating.
When was Liquid founded?
Liquid was founded in 2025. It employs 1 to 10 people.
Where is Liquid based?
Liquid is headquartered in New York, United States, in the North America region.
How does Liquid make money?
Three revenue lines are on record. Trading Fees are the primary driver. The others are funding Rate Spread and leverage Premium.
Who are Liquid's main competitors?
Broad incumbents on record are Coinbase and Robinhood. Direct peers are Drift Protocol, dYdX, GMX, Hyperliquid, Jupiter Perpetuals, Ostium and Lighter. Polymarket is listed as an emerging player.
Does Liquid have an API?
No public API is recorded for Liquid.
What industry is Liquid in?
Liquid's product category is Decentralized Derivatives Trading Platform. Its primary akta.pro industry code is FSAPADAI, Liquidity Infrastructure (RFQ, order-book engines, matching, liquidity-as-a-service), with a secondary code of FSAPAEAF, Liquidity Provision & Market Making Protocols (AMMs, concentrated liquidity, LP tooling). Its NAICS code is 5231 and its SIC code is 6200.