Account Type

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First, understand Hyperliquid API Wallets

A Hyperliquid API Wallet, also called an Agent Wallet, is a signing agent authorized by a master account. It can sign supported trading actions for that master or its native sub-accounts. Generating or authorizing an API Wallet does not create another Hyperliquid master account or allocate separate trading funds. Query balances, positions, and profit or loss using the actual master or sub-account address, not the API Wallet address. See Hyperliquid’s API Wallet documentation. API Wallet authorization cannot sign a deposit from your funding wallet or withdraw the master’s funds to an external wallet. Deposits are initiated by the wallet holding the funds; withdrawals require the master wallet’s signature. The API Wallet is not a deposit destination. This distinction concerns external deposits and withdrawals; it does not mean agents have no permissions for any internal fund operation. See Hyperliquid’s deposit guide and withdrawal endpoint.

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Then separate Owly login from trading accounts

Owly uses “sub-account” as a general label for the trading accounts you manage. The creation page shows three types: API Wallet, Hyperliquid Sub-account, and On-chain Lending (Alpha). Hyperliquid Sub-account imports an existing native sub-account or creates one when the master account is eligible. On-chain Lending creates or connects a LeverAcc protocol account through an embedded interface.

• Owly main account: the wallet used to sign in to Owly and manage accounts.
• Trading account: the account that holds your Hyperliquid trading funds and positions.
• API Wallet: an authorized signing agent for a trading account, not that funded trading account itself.

Your Owly main account and trading account can use the same wallet address. You can also sign in with one address and add another as a separate trading account. With separate addresses, check the login, funding, and signing addresses individually. Using one address does not require creating a second wallet account. All three types share a limit of 10 active trading accounts under one Owly main account. For example, 9 API Wallet or Hyperliquid Sub-account accounts plus 1 active On-chain Lending account reach this limit. Hyperliquid’s native sub-account eligibility and quota below are separate.

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Compare the three options

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API Wallet limits and removing unused authorizations

A Hyperliquid master account can approve up to 3 named API Wallets by default. These slots are shared across applications using that master account. Hyperliquid also allows 1 unnamed API Wallet, and each native sub-account adds 2 named API Wallet slots. See Hyperliquid’s official API Wallet limits. This authorization quota is separate from Owly’s trading account limit above. If creating or updating an API Wallet fails because the quota is full:

1. Open the Hyperliquid API page and connect the master wallet that owns the authorization. For a Hyperliquid sub-account, use its master wallet.
2. Check the API Wallet names and addresses, then delete or revoke authorizations you no longer need. Do not remove an API Wallet still used by Owly or another application; revoking it prevents that application from continuing to trade with it.
3. After confirming that a slot is available, return to Owly and retry API Wallet creation or the authorization update.

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API Wallet validity and renewal

Hyperliquid limits an API Wallet authorization to a maximum of 180 days. This is the authorization’s validity period, not the lifetime of your trading account. See Hyperliquid’s official API Wallet authorization rules. Owly uses the following default validity periods:

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Owly’s API Wallet account type

This type uses a separate Hyperliquid master account—an EVM address holding the funds. It is not a native Hyperliquid sub-account. To add multiple trading accounts of this type, prepare different master addresses, rather than creating several API Wallets for one master. One of these trading accounts can use your Owly login address; “separate” does not require a different address from your login. Choose API Wallet, enter an account name, and Connect the wallet for your Hyperliquid trading account. Verify the displayed address; it can equal your Owly login address. If the address is not yet activated on Hyperliquid, use the funding prompt and wait for activation before continuing. An agent, vault, or native sub-account address cannot be used as the owning wallet for this type. There is no API Wallet private key field in this setup flow. Owly checks whether the trading account uses Unified Account mode and asks you to enable it by signing if needed. It then generates and securely stores an API Wallet, displays its public address, and asks the connected trading wallet to authorize it. Complete any required Builder fee authorization after reviewing the fee limit. Confirmed authorizations are skipped. For your first account, follow Quick Start to prepare, fund, connect, and authorize it.

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Hyperliquid Sub-account

This is a native sub-account under a Hyperliquid master, distinct from the separate master accounts above. Under Hyperliquid’s rules, reaching $100,000 in trading volume** unlocks up to **10** sub-accounts. Every additional **$100,000,000 in volume adds one, up to 50. Ten is therefore the base quota, not Hyperliquid’s final hard cap. This quota is separate from Owly’s account limit described above. Sign in to Owly with the Hyperliquid master wallet that owns the sub-account, then choose Hyperliquid Sub-account to load that wallet’s sub-accounts. Select an existing sub-account and enter a name. Owly checks the master account’s Unified Account mode, requests an enablement signature if needed, and generates and stores a dedicated API Wallet for this import. Review the generated API Wallet address, then use the master wallet to complete the API Wallet authorization and any required Builder fee authorization. You do not need to create an API Wallet on Hyperliquid or enter its private key. An already added sub-account cannot be selected again. You can also create a native sub-account from the selector when Owly confirms that the master is eligible and has capacity. Enter a valid, unused account name and choose the create option. First complete the master account’s API Wallet authorization if requested; Owly needs it to submit native sub-account creation. After Hyperliquid confirms the new account, continue the import flow and authorize its dedicated API Wallet. If creation is unavailable, check the master wallet and the eligibility shown on Hyperliquid Sub-accounts. To delegate management, continue with the Asset Owner Guide.

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On-chain Lending (Alpha)

On-chain Lending connects a LeverAcc account for trading using USDC borrowed against collateral. Choose On-chain Lending (Alpha) directly in the account type selector.

1. Enter an account name and Connect Funding Wallet. This wallet may differ from your Owly login wallet. Owly detects an existing LeverAcc trading account; you do not paste a private key or manually enter a trading contract address.
2. If you need a trading account, follow the embedded LeverAcc creation interface in Owly. Setup first checks the funding wallet’s Arbitrum USDC and gas balances. Follow the displayed minimum amounts and wait for account creation and activation to be verified.
3. Where available, setup can offer USDC-to-ETH and USDC-to-HYPE preparation steps. Their budgets are separate; review each quoted spend and token allowance. An ETH preparation does not also complete the HYPE requirement. If a quote is unavailable, prepare the requested assets yourself and recheck balances.
4. Check the funding and trading account addresses, then continue to Link project. If the project does not match, choose Link to Owly and review the signature and contract transaction. Changing projects requires no outstanding debt or blocking protocol risk and disables the previous execution wallet.
5. Complete the execution-wallet and required Builder fee authorizations with the funding wallet. Wait for Owly to verify the binding and report that the account was added. Resume or check an existing pending operation before attempting another.
6. In Accounts, use the LeverAcc account’s Deposit, Repay, or Withdraw controls, or Borrow and Fund transfer in its menu. These open the embedded LeverAcc interface. Once the account is funded and authorized, select it in the relevant strategy setup and confirm the strategy separately.

Borrowing may accrue interest while a strategy is stopped. Stopping a bot does not itself repay debt, and closing positions does not repay the loan. Review repayment and withdrawal limits in the LeverAcc interface. Alpha availability and supported trading functions remain subject to the current page’s status.

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Legacy Owly managed accounts

The old Owly managed account type (sub) is retired for creation, deposits, internal transfers, and bot start/restart/configuration updates. Existing accounts remain available for viewing, stopping or closing bots, and supported withdrawals. This restriction does not apply to the Hyperliquid Sub-account type (hl_sub) described above.

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Where sensitive information belongs

• Never send your seed phrase, Owly login wallet private key, or trading master wallet private key to the Assistant, support, or a third party.
• New API Wallet and Hyperliquid Sub-account setup generates and stores the API trading key in Owly. No manual key creation, copying, or import is required.
• The Assistant can explain steps using the account type and public addresses. Review connections, authorizations, deposits, transfers, and trades yourself.
• A leaked API Wallet can enable malicious trading and losses. If compromised, stop the associated bot and revoke the authorization on Hyperliquid. For expiry or replacement, follow Owly’s account-management update prompts.