Choose a venue and Best price
Many coins trade on Hyperliquid, Aster and Lighter. How the ticket picks the venue with the best price for your order, how to pick one yourself, and how they differ.
On this page
Prow connects to three venues: Hyperliquid, Aster and Lighter. Many coins, like BTC and ETH, trade on all three. Each venue has its own order book, price, fees and your own balance there. A position on one venue and a position on another are separate positions.
The venue in the ticket
The order ticket on Trade starts with the venue your order goes to (on a phone, right under Long and Short). The row shows the venue, Best price when it gives the best average price for your order's size right now, and the money you have there, for example "$8,310.00 available". A venue you haven't linked reads Not connected.
Tap the row to open Where to send this order.
- Best price, automatic (the default) sends the order to the connected venue with the best average price for its size. The line under it names the venue in play, for example "Now Hyperliquid. Prow switches if another venue gets cheaper for your size."
- Each venue shows your money there (or Not connected), its fee for this order, its maximum leverage, the average price for your size and, when you hold the coin there, "Your BTC position is here". Book too thin means its book can't fill that size.
- Connect links a venue you haven't connected.
Picking a venue keeps your order on it until you pick Best price, automatic again. Switching venue sets the leverage and margin mode of the ticket to that venue's own, since they are saved per venue.
What Best price means
For each venue, Prow walks the live order book for your order's size ($1,000 before you type an amount) and works out the average price you would get right now:
- for a Long, the venue with the lowest average buy price wins;
- for a Short, the venue with the highest average sell price wins.
Venues with low liquidity are left out unless all of them are thin. To stop the badge jumping back and forth, another venue has to beat the current one by a small margin (0.015%) before it moves.
Which venue the ticket opens on
When you open a coin, the ticket picks the venue in this order:
- The venue you picked in the list, or the one a link asked for (for example Trade on Aster in the Info tab).
- The venue where you hold a position in this coin, so new orders add to or reduce it.
- Otherwise, your setting in Settings > Trading > Venue routing, among your connected venues:
- Best price (default): the venue at the best average price for your order, kept up to date as you type.
- Lowest fee: the venue with the lower taker fee.
- Fixed venue: Hyperliquid when it lists the coin and you are connected there, else Aster.
Thin venues are skipped in step 3 while a liquid one is left.
Compare in the Info tab
The Info tab on Trade has Where to trade BTC (for the coin on screen). It lists each venue with its average price for a $1,000 Long, spread, maker and taker fees, funding per hour, max leverage and open interest. The venue you are on reads Trading here. Trade on Aster (or Hyperliquid, or Lighter) moves the ticket to that venue, and Connect links one you haven't connected.
More than one account on a venue
You can link more than one account on a venue. Each one is a separate account with its own money and positions. See Multiple accounts.
How the venues differ
| Hyperliquid | Aster | |
|---|---|---|
| Settles in | USDC | USDT |
| Taker / maker fee (base tier) | 0.045% / 0.015% | 0.04% / 0% |
| Minimum order | $10 | About $5, set per market |
| Funding | Every hour | Every 1 to 8 hours, per market |
| TP/SL on a new order | Attached to the order | Placed after the order fills |
| Trailing stop | No | Yes |
| Trigger orders per market | No practical limit | 10 |
Lighter settles in USDC, pays funding every hour and has a $10 minimum order. A Standard Lighter account pays 0% maker and 0% taker. TP/SL go with the order as one group.
Your own fee tier on each venue can be lower than the base tier. The ticket shows the fee before you place an order: hover or tap Fees to see the venue's fee and the Prow fee. The Prow fee is 0% until Dec 31, 2026, then 0.025% per trade. See Fees.
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