REPYL
LIQUIDITY · PERPS · 24.7.365

REPYL LIQUIDITY PRACTICE

TWO-SIDED MARKETS.
ALL SESSION.

Repyl designs and operates liquidity for perpetual futures — centralized and on-chain — so books stay open, tight, and accountable.

REQUEST ACCESS READ THE ENGAGEMENT
  • PERPS FIRST
  • CEX + DEX
  • KPI-BOUND
  • ALWAYS ON
01

WHAT WE DO

Repyl Liquidity is the public surface for Repyl’s digital-asset market-making work. We quote two-sided markets in perpetual futures, keep depth on the book through volatility, and report against the contract — not against a slide.

PILLAR A PERPETUAL FUTURES MARKET MAKING

Core product. Continuous bid and offer on perpetual contracts. Inventory and basis risk stay inside Repyl’s book. The venue and the issuer see spreads, depth, and uptime — not the model.

  • Two-sided quotes on listed perps
  • Spread and depth targets written into the engagement
  • Session coverage including weekends and venue maintenance windows
  • Cross-venue quoting where the client lists the same contract on more than one book
  • Risk limits, kill-switches, and max inventory agreed in advance

PILLAR B VENUE INTEGRATION

Connectivity and listing readiness for CEX perp engines and on-chain perpetual venues. Market-structure advice so a new contract is quotable on day one: tick size, lot size, impact notionals, funding interval, oracle hygiene, liquidation bands.

PILLAR C MANDATE, REPORTING, CONTROL

Contractual KPIs. Recurring activity reports. Named coverage hours. A single client owner. After a real login (future) a client would see only compliance states, never the book:

  • Mandate status: LIVE / RAMPING / PAUSED
  • Uptime vs target
  • Spread compliance vs target
  • Depth at N ticks vs target
  • Incident log

No PnL. No positions. No fills tape.

02

WHY PERPS

Perpetual futures are the liquidity surface most traders actually use. A thin perp book taxes every participant: wider spreads, failed hedges, toxic flow, listing risk. Repyl’s job is to make that book boring in the right way — present, two-sided, measurable.

  1. 01 Presence Quotes when organic flow is asleep
  2. 02 Tightness Spreads that invite real size
  3. 03 Continuity The same quality across sessions and listings
  4. 04 Accountability Numbers the client can audit against the contract
03

ENGAGEMENT

  1. 01 Scope Instruments, venues, hours, banned flow, inventory caps
  2. 02 Mandate KPI sheet: spread, depth, uptime, max absence
  3. 03 Deploy Production keys, staging book, go-live window
  4. 04 Report Recurring pack + exception alerts
START A MANDATE
04

OPERATING STANDARD

  • Systems built for perpetual microstructure (funding, marks, liquidations) — named as market structure, not as a model
  • Coverage across centralized perp venues and on-chain books
  • Transparent reporting, not narrative
  • Dedicated venue and client owners
  • Follow-the-sun coverage
  • Separation of client reporting from proprietary trading
05

CLIENT PORTAL PREVIEW

Dark HUD mock only. Not wired to the operator desk. Illustrative compliance states — not live trading data.

CLIENT SURFACE

06

FAQ

What does a perp market maker do?

A market maker posts continuous two-sided quotes — a bid and an offer — so a perpetual contract remains tradable. The work is presence, spread, depth, and risk control. The venue and the issuer measure the book against a contract, not against a story.

How is this different from providing liquidity on a spot AMM?

An AMM is a pool. A perp book is an order book with marks, funding, and liquidations. Repyl quotes that book two-sided, with inventory and risk remaining inside Repyl’s account.

What gets written into the KPI sheet?

Spread, depth at agreed ticks, uptime, maximum absence, coverage hours, and inventory caps. Those numbers are contractual. Reporting is against the sheet.

Do you take directional views on the client’s token or index?

The mandate is to quote two-sided. Proprietary books are segregated from client reporting.

Will Repyl publish our volumes or inventory?

No. Client reports stay inside the portal.

Is this a brokerage or an exchange?

No. Repyl is a quantitative trading firm operating a liquidity practice. This site is not an order-entry venue. Operators use a separate private desk.

Where do I log in to trade?

You don’t, from here. Counterparties receive a portal later. Internal desk: trade.repyl.com.

07

REQUEST ACCESS

Hong Kong desk. Institutional counterparties only. A named owner answers.