Glossary

The app’s words, explained for someone who has never seen them. Hyperliquid’s names (Spot, Perps, HIP-3) are used as they are, because they are the names of the things. If a word has its own page, the link takes you there.

• @name: your name on Every, such as @martina. Other people on Every use it to send you money without addresses. It has 3 to 20 characters (letters, digits and _) and starts with a letter. See Create your account.
• Address: a wallet’s identifier, starting with 0x. Money sent to a wrong address is lost.
• App mode: which bottom bar the app wears, Neobank or Exchange. The screens are the same. See Neobank and Exchange.
• APY or yearly rate: what your money would earn in a year at today’s rate. In Savings it is variable: it changes every day.
• Arbitrum: the network your USDC lives on, and the one your sends to other addresses go out on. Every pays the gas.
• Balance: all your money, added up. It is the Your money figure on Home, whether the money is in your wallet, on Hyperliquid or in Savings.
• Base: the other network your USDC can be on. Receive accepts it just like Arbitrum, and some Morpho vaults are on it.
• Cross and isolated margin: with Isolated, each position has its own margin and only risks that. With Cross, positions share your account’s balance, which can be used to keep them open.
• Curator: whoever runs a Morpho vault. They choose who it lends to and keep a share of the interest. The pot’s page says who it is and what they charge.
• Every’s fee: what Every charges on each order, on top of Hyperliquid’s fee. Also called the builder fee. The order screen shows both added up before you confirm. See Fees.
• Funding: on perps, a regular payment between those who are long and those who are short, which keeps the perp’s price close to the real price. Depending on the gap between the two, you pay or you get paid. The app calls it “Holding cost per day” or “Paid to you per day for holding”. See Funding and liquidation.
• Gas: the fee a network charges for each transaction, in ETH. With Every you don’t need ETH: Every pays the gas. See How Every works.
• HIP-3: perps markets other people have built on Hyperliquid, such as stocks, gold or indices (xyz:AAPL). They track the price: you don’t own the share or get dividends. See Stocks and commodities.
• Hyperliquid: the decentralised exchange where you invest. It has its own chain, its own order book and its own lending market.
• Hyperliquid’s fee: what Hyperliquid charges for each order, separate from Every’s.
• Leverage: a perp’s multiplier. At 5x, each dollar of margin moves a 5-dollar position, and you gain or lose five times as fast. You pick it when you tap Long or Short, before the order. See Leverage and margin.
• Limit order: fills only at your price or better, and may never fill. While it waits, the money is “set aside for orders”. In the app, Limit.
• Liquidation: when the losses on a leveraged perp eat through its margin, Hyperliquid closes the position and you lose that margin. The liquidation price is on screen before you open. Every does not warn you before it happens.
• Long and short: going long means gaining if the price goes up; going short, gaining if it goes down. They are a perp’s two buttons.
• Margin: the money you put into a perp. On an isolated position, it is the most you can lose.
• Mark price: the price Hyperliquid uses to value your positions, work out your result and decide liquidations. It can differ slightly from the last traded price.
• Market order: fills straight away, at the best price available. In the app, Market. See Order types.
• Morpho: the lending protocol behind the Morpho pot in Savings.
• Passcode: the six digits that open Every on your phone. It belongs to each phone, not to your account. See Account security.
• Perps: contracts that track the price of something and never expire. They let you go long or short and use leverage. See Perps.
• PnL: what you gain or lose on a position. The app shows it as “Unrealized PnL” while the position is open.
• Position: what you have open on a perp: its size, direction, margin and entry price. You see it on the asset’s page.
• Pot: each place in Savings where you can put money. Today there are two: Morpho and Hyperliquid.
• Prediction: a market on something that will happen. You buy Yes or No; if you are right each share pays $1, and if you are wrong you lose what you paid. See Predictions.
• Privy: the provider that creates your account and your wallet and lets you sign in with your email, Google or Apple.
• Referrals: the people who join Every with your invite, and the people who join with theirs, up to 3 levels. You get a share of the Every fee they pay: 25%, 5% and 2%. See Referrals.
• Savings: the part of the app where you leave money earning, in two pots. It is not a bank deposit and the rate is not guaranteed. See Savings.
• Spot: buying the asset itself, without leverage. The most you can lose is what you paid. See Spot.
• Stop loss and take profit: orders that close a position when the price reaches a level: the stop loss to cut a loss, the take profit to lock in a gain.
• Trading key: a key your phone creates to sign your orders on Hyperliquid without asking you to confirm each one. It lives on that phone and cannot take money out.
• USDC: a digital dollar: a stablecoin issued by Circle and designed to be worth one dollar. It is the currency of your Every balance.
• Vault: a contract that pools many people’s money and lends or invests it under set rules. Both of your Savings pots are USDC vaults.
• VIP level: your level, from VIP 1 to VIP 4, set by your perps volume over the last 30 days, on the phone and the web together. The higher it is, the less Every charges on perps. See VIP levels.
• Wallet: the account on the chain where your money sits, in your name. Privy creates it the first time you sign in, and your phone signs every move.
• Ways in: the ways you can sign in to your account: email, Google or Apple. Having two is a good idea. They are in Profile → Ways in.