Introduction
Mutexa is the protocol for hidden leverage. It hides your position size and liquidation price on the venues you already use.
On-chain trading is open by design, and so is every leveraged position. Mutexa is a privacy layer that sits on top of the perps and lending venues you already trade and borrow on, across Hyperliquid, Solana, Ethereum, Arbitrum, Base and more. It never asks you to move to a new exchange.
What Mutexa does
When you open a perp or take a loan, Mutexa splits it into slices held by separate accounts that can't be linked to you or to each other. Each slice gets different margin or loan-to-value, so the liquidation prices spread across a band instead of sitting on one line someone can hunt.
Each slice stays under common whale-alert sizes, so trackers and copy-traders see ordinary users, not a whale. One app shows you the whole picture across every chain: total size, blended entry, PnL and your liquidation band. The market only ever sees the slices.
How the pieces fit
Mutexa derives fresh accounts for each venue from a signature you make on your device. Each account is funded through a privacy rail, a venue adapter places orders and loans slice by slice, and a local risk engine guards every slice.
What makes it different
Same venues, same liquidity
Perps and lending
No single line to hunt
Under the whale-alert radar
Non-custodial
Honest privacy
Next steps
- Read Why hidden leverage for the dated, sourced cases behind the problem.
- Walk through the Quickstart to see how a split is planned.
- Learn the model in Slices and unlinkable accounts.
- See exactly what Mutexa hides and what it doesn't.