Capital operations
Moving funds between the vault reserve and Core trading, and servicing the queue
A vault's USDC lives in two places, and moving it between them is a wallet-signed on-chain action (⛓) on Manage → Capital.
The two balances
- EVM reserve — where deposits land, and where instant withdrawals and the queue are paid from. Your configured liquidity reserve is meant to stay here as exit buffer (it is frozen at creation and can't be lowered later).
- Core trading balance — spot USDC on Hyperliquid. Under the unified account model this directly backs perp margin as one pool, and auto-funds isolated margin on builder-dex (HIP-3) markets — there is no manual spot-to-perp transfer.
Moving USDC
Manage → Capital → Move USDC handles both directions:
- To trading (EVM → Core) — the money you want to trade with. (The vault's Hyperliquid account is opened at creation, so this just funds it.)
- Home (Core → EVM) — bringing USDC back to the reserve, which is how you fund the withdrawal queue.
Each direction is one wallet-signed transaction, and a bridge leg settles in about a minute in normal conditions.
Servicing the queue
Investors exit through the withdrawal queue, which pays from EVM-liquid USDC. When the queue owes more than the reserve holds, the cockpit shows a two-step task: fund EVM cash (move the shortfall home from Core) then pay the queue. A keeper pays funded requests automatically — but bringing USDC home from Core is a manager-only action, so keeping the queue funded is on you. Leave it unfunded past the queue timeout and anyone can latch the vault into emergency.
In the cockpit: Manage → Capital holds Move USDC, the queue and bridge state, your stake, and the Core HYPE gas top-up.