Platform
Direct access to systematic strategies.
Hedgehog is not a fund. You own the exchange accounts, select from the strategy library, and run institutional risk management on your own capital. No fund wrapper. Hedgehog never holds your capital. No monthly NAV letter.
The strategy library.
Our central AI runs research and risk across hundreds of systematic strategies every day. Each strategy is refitted to the current regime rather than calibrated once on a fixed history. A new set of tested strategies is released every month, and you can ask us to research what you need.
See the library by theme and by strategy type →Your Hedgehog AI — selection and execution.
It sits between the strategy library and your exchange accounts. You set which strategies run, and its execution engine places the orders, on your own infrastructure or ours.
How selection works
- Browse the full library or start from the daily CIO recommendations
- Set a target allocation per strategy — how much capital to deploy
- Size has two limits, and the smaller wins: your allocation, and the most that strategy can take. EVAR limits then tighten or widen with the regime
- Choose leverage for each strategy, from 1x (none); our risk AI reports on your leverage every day
- Adjust weightings as your view on the regime changes
- Paper-trade any strategy first if you want, or go live straight away; change sizing and allocations at any time
Paper and live
- Paper / test account: your AI runs your selection against live prices, with no live orders sent
- Live: the execution engine sends orders to your exchange through the API, sized to the day's limits
- Run it in a sub-account dedicated to your Hedgehog AI; your own trading stays in your other accounts and is never measured
- Runs on your infrastructure or on Hedgehog's
- The API key is read and trade only. No withdrawal permission, ever
Risk architecture — EVAR.
Every position has an EVAR-based limit. When the regime moves toward higher volatility, limits tighten automatically, in real time, rather than after a drawdown has been reported. The team reviews the limits; no manual step is needed for them to apply.
- 01Daily regime update.
Every day, the regime estimate is refreshed across cross-asset signals, realised volatility, and spread behaviour, and delivered to your AI. The regime is not a label applied once a month. Risk itself does not wait for it: it is monitored in real time.
- 02EVAR recalculation.
EVAR is calculated for each strategy individually and for the book as a whole. When EVAR rises for a specific strategy type — because the signals driving it are in a high-risk environment — that strategy's position limit tightens. Other strategies are unaffected unless their own EVAR rises independently.
- 03Automatic limit adjustment.
EVAR updates in real time as prices and news move, and the position limits in your AI update with it. Positions adjust automatically, and each day's trader report shows the current limits.
Your exchange accounts. Not ours.
Hedgehog is not a custodian. The execution engine connects to your exchange through a read and trade API key — not a withdrawal key. Capital cannot be moved off your exchange. You can revoke access at any time.
Exchange coverage
- Kraken — spot and futures.
- Coinbase — spot, and derivatives where available.
- Deribit — options and perpetuals. Needed for the volatility strategies.
- Binance — spot and perpetuals.
- Hyperliquid — perpetuals and spot, on its own blockchain. Your AI trades through an API wallet you approve from your own wallet.
More venues are added as they meet our standards for API stability and liquidity. You never need to open a new account for us: your AI trades on the venues you already use.
No custody
The execution engine trades through a read and trade key with no withdrawal permission. The security page sets out what we provide, what we never touch, and our fraud warning.
The daily reports.
A CIO report and a trader report go out every morning, to you and to your AI at the same time. You read exactly what it reads.
| Section | Reading | Change |
|---|---|---|
| Macro regime | Risk-on: cross-asset vol compressed, credit spreads tightening | Stronger |
| Crypto regime | BTC above 200d MA; funding elevated, not extreme | Unchanged |
| Stat arb EVAR | −1.4 % · normal range, no constraint active | Unchanged |
| Basis strategies EVAR | −0.9 % · funding at +0.032 %/8h, sizing up | Lower risk |
| Mean reversion EVAR | −2.1 % · caution: approaching ceiling for ETH | Rising |
| Trend following EVAR | −1.6 % · signal aligned across timeframes | Unchanged |
Illustrative. Dates, readings, and signals are invented for demonstration.
CIO report
- Current regime reading — what is driving it and how strong the signal is
- EVAR for the book and for each major strategy type
- Strategic view: what the environment favours this week
- Notable risk: any strategy approaching its EVAR ceiling
- Macro indicators and cross-asset readings
Trader report
- Strategy-level signals: what each strategy wants to do today
- Suggested sizes based on current EVAR and your allocation target
- Recent regime changes and their effect on specific strategies
- Orders your AI plans to place, and why
- Delivered every morning, after the daily regime update
Book a 20-minute call.
We cover the research, how risk runs on your exchange accounts, and how onboarding works for you.