Positions and holdings

Structure presents positions and balances from your trading accounts as the holdings you see in the UI. This page explains the model at a conceptual level.

Raw positions and balances

Every trading account holds:

• Positions in instruments:
  • For example, a long SOL‑PERP position on a derivatives venue.
• Balances in assets:
  • For example, USDC collateral, funding tokens, or settlement currency.

Venues update these as markets move and as live deployments send order activity or fills occur.

Latest account state

Structure uses the latest available account state from each confirmed trading account to power portfolio and strategy-level views. Conceptually, account state includes:

• The account it belongs to.
• A timestamp.
• A set of positions, each linked to:
  • An instrument (such as SOL‑PERP).
  • Quantities (for example, base and quote exposure).
• A set of balances, each linked to:
  • An asset (such as SOL or USDC).
  • A quantity (for example, 123.45 units).

The exact fields depend on what the venue supports. Position and balance state is account information used for monitoring and holdings; it is distinct from live exchange gateway order messages.

Holdings (user view)

The Holdings view is the trader‑friendly aggregation of the latest available account state. Each row typically represents a combination of:

• A venue (for example, Hyperliquid during launch).
• A trading account at that venue.
• An asset or instrument.

For each row you may see:

• Symbol and name – for example, SOL or SOL‑PERP.
• Venue – which exchange or protocol this belongs to.
• Venue account – which trading account is holding the position or balance.
• Quantity – normalized to human‑readable units.
• Optional metrics such as:
  • Mark‑to‑market value.
  • P&L.
  • Margin requirements.

Conceptually, holdings answer:

• “What do I own, and where?”
• “Which strategies and accounts are driving my exposure?”

Relationship to strategies and accounts

Holdings are always derived from:

• Trading accounts:
  • Each holding is tied to a specific venue account.
  • That account, in turn, may be assigned to a specific strategy.
• Venues, assets, and instruments:
  • Holdings refer to venue‑specific instruments and chain‑specific assets.

When you filter holdings:

• By strategy – you see only holdings belonging to accounts assigned to that strategy.
• By venue – you see how your exposure is distributed across exchanges or protocols.
• By trading account – you zoom in on a single venue account.

Why this model matters

By separating account state from the aggregated Holdings view, Structure can:

• Provide fast, up‑to‑date portfolio views.
• Allow you to slice your risk by:
  • Strategy.
  • Venue.
  • Account.
  • Asset or instrument.

For you as a trader, the key takeaways are:

• Holdings are shown as of the latest account state available to Structure.
• Strategy‑level views and portfolio views are two perspectives on the same underlying data.
• When something changes in holdings, it reflects:
  • Executed trades.
  • Market movements.
  • Funding, fees, or other venue‑level adjustments.

For execution-specific account context, see Execution context and account state.