Fees
0% on the book.
10% of measured profits above a high-water mark. A $6,000 a year subscription that counts toward it. Paid in crypto. Nothing on the capital itself.
The terms
- 01No management fee.
Nothing is charged on the capital in your exchange accounts, whether the year is good, flat, or down.
- 0210% of measured profits.
Measured on the accounts connected to your Hedgehog AI, above a high-water mark. A flat or down year pays no performance fee.
- 03$500 a month, billed annually.
$6,000 a year for risk and strategy enhancement, the daily reports, and live news, for your whole team: there is no per-seat licence. It counts toward the performance fee: in any year you pay whichever is higher, $6,000 or 10% of profits. Never both.
- 04Paid in crypto.
Pay in BTC, ETH, SOL, XRP, BNB, or USDC or USDT on Ethereum, to a deposit address we associate with your client account. Prices are set in US dollars.
- 05Paper or live.
Start on paper if you want to see it work first, or go live straight away. No order reaches the exchange until you switch live.
- 06Onboarding.
After the call, we take you through onboarding: identity or organisation checks, sanctions screening, the client agreement, installing your Hedgehog AI, and connecting a trade-only key.
- 07If a payment is missed.
Invoices get missed, and things happen. If a renewal or a performance fee is late, we will contact you first, and everything keeps running through a 30-day grace period while you sort it out. If it is still unpaid after that, the service stops: live trading, paper trading, the reports, and the news. Your capital and open positions stay on your exchange accounts, under your control.
- 08Your capital stays with you.
No custody. No lockup. From $100k, on your own exchange accounts at Kraken, Coinbase, Deribit, Binance, or Hyperliquid. Because of US regulations, we're unable to offer our services to US citizens or residents.
How the fees compare
Three scenarios on a $10 million book. Traditional fund: 2% management fee plus 20% of profit. Hedgehog: 10% of profit, with the $6,000 subscription counted toward it, and 0% management fee.
Illustration only. "Traditional fund" = 2% annual management fee + 20% of profit above a high-water mark. Hedgehog = the higher of the $6,000 annual subscription or 10% of measured profit, 0% management fee. The high-water mark applies to both. Capital at risk; this is not a forecast or guarantee of future results.
Book a 20-minute call.
We cover the research, how risk runs on your exchange accounts, and how onboarding works for you.