L9 Admin & Operations Layer
Routing Mode Control Panel
Mode Switch
Admin users with Risk Manager role or above can switch between three routing modes:
Current Mode: [ HL Mode ] [ Normal Mode ✓ ] [ Betting Mode ]
⚠️ [Orange banner — visible in HL Mode only]
Net exposure is high. Please hedge on Hyperliquid immediately!
Numeric Configuration
| Setting |
Default |
Description |
| Normal mode routing threshold |
$10,000 |
NORMAL_MODE: orders ≤ this value go to internalization |
| Betting mode routing threshold |
$50,000 |
BETTING_MODE: orders ≤ this value go to internalization |
| HL mode trigger exposure |
$800,000 |
Net exposure ≥ this → recommend/auto-switch to HL_MODE |
| Betting mode trigger exposure |
$50,000 |
Net exposure ≤ this → recommend/auto-switch to BETTING_MODE |
| Current net exposure (read-only) |
Live refresh |
Aggregate absolute net exposure across all assets; 5s refresh |
| Auto mode switching |
Off |
When enabled, auto-switches mode when thresholds are crossed + sends notification |
| Per-asset threshold override |
Inherit global |
Each asset can override the global threshold |
Mode Switch History
Displays the last 30 mode switches at the bottom of the page:
| Time |
Switch Action |
Operator / Trigger |
| 04-07 14:32 |
Normal → HL Mode |
Manual (Risk Mgr: admin@xbit) |
| 04-07 10:15 |
Betting → Normal |
Auto (net exposure exceeded $800K) |
Other Routing & Internalization Configuration
| Feature |
Description |
| Internalization whitelist |
Recommend BTC/ETH only at launch |
| Client loss reserve ratio |
Default 20%; configurable |
Risk Control Dashboard
Real-Time Metrics
| Panel |
Content |
| Net exposure |
Per-asset real-time exposure + hedge status |
| Platform B-book P&L |
Daily/weekly/monthly P&L curves |
| Routing stats |
INTERNAL vs HYPERLIQUID count/volume/ratio |
| Liquidation stats |
Today’s count, amount, breakdown by INTERNAL/HL |
| HL account status |
Margin ratio, available balance, position sizes |
| Risk reserve |
Balance, recent changes, alert status |
Calculation Drift Panel
| Metric |
Description |
| Daily drift total |
Cumulative Platform calc vs HL actual delta |
| Drift trend chart |
30-day daily drift line chart |
| Per-asset drift ranking |
Assets with largest drift |
| Recent alert list |
Trades with drift rate > 1% |
Aggregation & Liquidity Panel
| Metric |
Description |
| Per-chain hot wallet balances |
TRON / ETH / Solana |
| Aggregation history |
Recent aggregation transactions and gas costs |
| Withdrawal queue |
Pending withdrawal count and amount |
| Liquidity coverage ratio |
Hot wallet balance / total user liability |
User & Order Query
| Feature |
Description |
| User position query |
Includes INTERNAL / HYPERLIQUID labels |
| Order routing history |
Per-order routing decision log |
| Liquidation records |
Liquidation details and margin-zeroing records |
| Drift records |
HL receipt vs Platform calculation discrepancy details |
| Manual balance adjustment |
Requires approval workflow + full audit log |
Role-Based Access Control (RBAC)
| Role |
Permissions |
| Super Admin |
Full access |
| Risk Manager |
Internalization controls, exposure config, hedge params, reserve, drift thresholds |
| Operations |
Read-only user data, withdrawal approval, manual aggregation trigger |
| Data Analyst |
Read-only reports and data export |
Audit Log
All admin operations must be logged:
- Operator, timestamp, IP address
- Operation type and change content
- Approval workflow records (e.g. balance adjustments, cold wallet disbursements)
- Immutable append-only: no delete or modification allowed