Venues and order routing
A perp order placed in the app is signed by your wallet and dispatched to one venue that you choose. This page documents which venues are reachable, what each is suited to, and the differences between them that the gateway has to absorb.
Reachable venues
Five perp venues, plus Polymarket for prediction markets and cross-chain routing for spot. The venue is a field on the order, never inferred, so an order cannot execute somewhere you did not select. Market counts below were read from each venue's own API in August 2026.
- Hyperliquid: crypto perps on its own L1, on-chain central limit order book, 177 live markets
- Lighter: zero-fee order books, 219 active including 7 spot and a set of equity and ETF perps
- Ostium: real-world-asset perps on Arbitrum, metals, energy, equity indices and FX
- AsterDex: broad perp listing set
- GMX: pool-and-oracle perps on Arbitrum
Order size is not expressed the same way everywhere
Hyperliquid and AsterDex consume size in units of the base asset. Ostium and GMX expect a USD notional and derive collateral from it as notional divided by leverage. The two are not interchangeable: sending an asset-unit size to Ostium unchanged turns a 0.5 ETH intent into a $0.50 position. The gateway and the agent order route both convert before dispatch, so a size you enter as an asset amount stays an asset amount.
Symbol and market resolution
Symbols, tick sizes and minimum order sizes differ per venue, so the same asset is not the same market string everywhere. GMX and AsterDex markets resolve from the aggregated markets cache rather than the per-market info cache, because that cache is the only one carrying their listings. This is invisible in the app and matters if you are building against the gateway directly.
What is not shared across venues
Margin and liquidation. Each venue holds the collateral for positions opened on it and runs its own risk engine, so a position on one venue cannot be netted against a position on another. The wallet, the interface and the portfolio view are shared; the risk is not.
Questions
- Can I choose the venue, or does the app route for me?
- You choose. The venue is pinned to the order, including for orders drafted by the AI agent, so execution happens on the venue shown on the confirmation and nowhere else.
- Why does the same asset have different minimum sizes per venue?
- Because each venue sets its own tick size, size decimals and minimums per market. The order ticket reads them from the venue rather than applying one global rule.
- Which venue is used for spot?
- Spot is routed as a cross-chain swap rather than to a perp venue, and Lighter additionally lists a small number of spot books.