Market making

Your Totalis wallet runs your maker. It owns the maker vault, the USDC that backs every confirmed quote, and signs your bot’s confirms.

Set up

At totalis-hip4.vercel.app/mm:

Under Your wallet, add a little HYPE for gas and the USDC you will quote with.
Choose Create maker account: one transaction.
Choose Fund vault.
Create a key for the maker with the maker scopes.
Run your bot with that key, your maker_id and your wallet key.

Quote

Read Get maker capital. free_collateral backs new fills.
Subscribe to the maker channel.
Receive RFQ_CREATED. Price it from your own Hyperliquid market data.
Create quote. It is unsigned.
Replace it with a new quote, or cancel it.
Receive QUOTE_ACCEPTED with a deadline.
Confirm quote with your signature before the deadline, or decline.
Re-read capital on every MAKER_CAPITAL_UPDATED.

Create quote

curl https://hip4-api.totalis.trade/v1/rfqs/$RFQ_ID/quotes \
  -H "Authorization: Bearer $TOTALIS_MAKER_KEY" \
  -H "Idempotency-Key: 01a0df4e-5f11-7a2b-9c3d-4e5f6a7b8c9d" \
  -H "Content-Type: application/json" \
  -d '{
    "quote_id": "0x5e5e...5e5e",
    "entry": {
      "maker_id": "7",
      "legs": [{ "outcome_id": "1209", "side": "YES" }],
      "stake": "25000000",
      "payout": "98500000",
      "fee_bps": 100,
      "taker_fee_bps": 20,
      "taker": "0x1111111111111111111111111111111111111111",
      "expiry": "1790452875",
      "salt": "48151623429108"
    }
  }'

{ "quote_id": "0x5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e" }

Field	Rule
`legs`, `stake`, `taker`	Copied from the RFQ.
`payout`	What you pay if every leg wins.
`fee_bps`, `taker_fee_bps`	The current values in Get deployment.
`expiry`	Unix seconds.
`salt`	A random uint256.
`quote_id`	The EIP-712 digest of `entry` as `Quote` (Signing). It becomes the `position_id`.

For a cash-out RFQ, price the position at decision_block and send sell_back terms if your maker backs it, or transfer terms if not. A transfer pays from your own vault balance, not the maker vault, and the position becomes yours. Keep that balance at zero to sell back only.

Cancel quote

curl -X DELETE https://hip4-api.totalis.trade/v1/quotes/$QUOTE_ID \
  -H "Authorization: Bearer $TOTALIS_MAKER_KEY"

{ "status": "CANCELLED" }

CANCELLED or REPLACED means it is off the RFQ. 409 with ACCEPTED means you already confirmed it.

Confirm quote

QUOTE_ACCEPTED carries the exact terms, named by kind. Sign them (entry as Quote, sell_back as SellBack, transfer as CashoutTransfer) and answer with no Idempotency-Key:

curl https://hip4-api.totalis.trade/v1/quotes/$QUOTE_ID/confirm \
  -H "Authorization: Bearer $TOTALIS_MAKER_KEY" \
  -H "Content-Type: application/json" \
  -d '{ "decision": "CONFIRM", "maker_signature": "0xcdcd...cd1c" }'

{
  "quote_id": "0x5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e5e",
  "rfq_id": "01a0df4e-5e07-7a3c-8f21-d4e6b7a90c1a",
  "status": "ACCEPTED",
  "deadline": "2026-09-26T20:00:53.352Z",
  "operation_id": "0x9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a9a"
}

`status`	Meaning
`ACCEPTED`	Queued as `operation_id`.
`PENDING_FUNDING`	Waits for the taker’s HyperCore payment, then `ACCEPTED` or `CANCELLED`.
`DECLINED`, `TIMED_OUT`, `CANCELLED`	Nothing filled.

{ "decision": "DECLINE" } needs no signature. Resend the same answer if a response is lost; until you know the outcome, treat the quote as filled.

Collateral

Capital

curl https://hip4-api.totalis.trade/v1/makers/$MAKER_ID/capital \
  -H "Authorization: Bearer $TOTALIS_MAKER_KEY"

{
  "context": { "as_of": "2026-09-26T12:00:02Z", "status": "CURRENT" },
  "owner": "0xaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa",
  "signer": "0xaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa",
  "vault_gross": "5250000000",
  "stake_escrow": "150000000",
  "payable_owed": "40000000",
  "gross_open": "300000000",
  "requirement": "300000000",
  "free_collateral": "4760000000"
}

A confirm fails when free_collateral cannot cover the fill.

Move maker funds

Your wallet calls the vault directly and pays the gas. Totalis does not relay these.

Vault call	Does
USDC `approve(vault, amount)`, then `depositMaker`	Deposits into the maker vault.
`requestMakerWithdraw`, then `executeMakerWithdraw`	Withdraws after the delay.
`cancelMakerWithdraw`	Cancels a pending withdrawal.
`setQuoteSigner`	Moves confirm signing to another key at once, so your bot never holds your wallet key. The zero address stops all fills.
`resetDiscount`	Sets your collateral discount to zero.

Reduce collateral

Create collateral reduction, with no body.
Follow COLLATERAL_REDUCTION_UPDATED, or Get collateral reduction, until the job holds its transaction.
Sign that transaction with any gas wallet and send it to Submit self-funded transaction.

curl -X POST https://hip4-api.totalis.trade/v1/makers/$MAKER_ID/collateral-reductions \
  -H "Authorization: Bearer $TOTALIS_MAKER_KEY" \
  -H "Idempotency-Key: 01998713-2f4a-7c3e-9b1d-6a0e4f5c8d20"

{
  "job_id": "01998713-2f4a-7c3e-9b1d-6a0e4f5c8d21",
  "status": "QUEUED",
  "next_eligible_at": "2026-09-26T14:07:00Z",
  "status_url": "/v1/makers/7/collateral-reductions/01998713-2f4a-7c3e-9b1d-6a0e4f5c8d21"
}

Get started

Guides

Resources

Set up

Quote

Create quote

Cancel quote

Confirm quote

Collateral

Capital

Move maker funds

Reduce collateral

​Set up

​Quote

​Create quote

​Cancel quote

​Confirm quote

​Collateral

​Capital

​Move maker funds

​Reduce collateral

Set up

Quote

Create quote

Cancel quote

Confirm quote

Collateral

Capital

Move maker funds

Reduce collateral