PRIME trades BTC and ETH, MIDCAP HYPE, ALT the other altcoins and RWA XAUT. Collateral is named UNIVERSE.ASSET on network derive, such as PRIME.USDC or ALT.SOL, and margins only the universe that holds it. Every order and fund move acts from the wallet’s oldest subaccount in its universe; holdings count every subaccount.
agent.derive.orders.create takes the Hyperliquid order proposals perpOpen, perpReduce, spotBuy and spotSell, plus optionBuy and optionSell. A perp asset is the base currency, such as ETH for ETH-PERP; a spot asset is the pair, such as WSTETH-USDC; an option asset is the instrument, such as ETH-20261225-4000-C, with amount: { size } in contracts and an optional limit price that is the premium per contract in USDC. List perps and spot pairs with data.markets({ venue: "derive" }). derive.options.list({ currency }) lists the live option chain for an underlying such as ETH, each with expiry, strike, call or put and size steps; add expiry: "YYYY-MM-DD" to quote one expiry’s mark, book, implied volatility and greeks. Derive groups no orders, so perpOpen takes no takeProfit or stopLoss: place a takeProfit or stopLoss order separately. Preparation rounds sizes down to the instrument’s amount step and prices to its tick, refuses sizes below the instrument minimum with BELOW_MINIMUM, and signs a fee cap of three times the taker fee. Results follow the Hyperliquid order results, with orderId the order’s signed action nonce. derive.orders.listOpen() returns the session’s resting orders and derive.orders.cancel({ orderId }) cancels one, or every resting order with "all".
A swap into Derive collateral deposits it: Ethereum tokens go straight to Derive’s ActionManager, creating the universe’s subaccount on the first deposit, and other sources bridge to Ethereum first. Derive credits only deposits worth at least its minimum, about $5, and Circuit refuses smaller ones because Derive keeps them. A swap between two universes' collateral, such as `PRIME.USDC` to `ALT.USDC`, moves it between subaccounts, and a swap to the Ethereum token withdraws it. A [send](./transfers) of Derive collateral moves it to another wallet's subaccount in the same universe, and pays Derive's subaccount fee, about $1 in the sent asset, when the recipient has no subaccount there yet. Before the first order, Circuit registers a read-only session key derived from the wallet’s signature, through a reviewed accountSetup with venue: "derive"; it can never trade, transfer or withdraw. derive.vaults.list() lists Derive’s vaults with their deposit asset, NAV and share price, and derive.vaults.request({ kind: "deposit", vault, amount }), { kind: "withdraw", vault, shares } and { kind: "cancel", vault } queue a vault request that the vault’s curator settles later; settled shares appear in holdings at the vault’s share price.
Perp holdings use kind: "perp" with the same fields as Hyperliquid, margined in the universe’s USDC; option and spot holdings follow the wallet’s indexed Derive balances.