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Propr goes deepest on chain of the five crypto prop firms that run on-chain at PropRubric’s last check, routing orders to Hyperliquid and paying USDC on chain; HyperPNL pays USDC by smart contract in a stated three seconds, and Velotrade lists every payout on Arbiscan. The five firms are listed by how deep the chain goes, and “on-chain” is defined in its three meanings, trading, payouts and branding, with what you can verify yourself for each.
The leading firms get a card each, a six-point checklist covers what to verify on an explorer, and the claims that are branding only are named at the end. The chain is one column of the verdict, and you should choose the best fit from the ranked best crypto prop firms once the column fits.
| orders that can route on chain | smart-contract payouts | a transaction link per payout |
|---|---|---|
| Propr: each trade labelled A-book (routed to Hyperliquid, visible on chain) or B-book; USDC payouts on demand from $20; from $25 | HyperPNL: USDC paid by an on-chain contract, one request per day from the first funded day, “under 3 seconds”; from $42 | Velotrade: every payout listed with an Arbiscan link; USDC or USDT on Arbitrum weekly; from $40 |
Listed by on-chain depth first and payout speed second. The ring is each firm's PropRubric score out of 10, which sets the order of the main ranking only.
Values from each firm's own pages, checked by PropRubric
In the table, n/p means not published by the firm, and each firm’s evidence and check date are in its row tooltip and in the sections below.
PropRubric found 5 crypto prop firms that run on-chain in some meaning, out of 28 active firms at PropRubric’s last check, plus one multi-asset firm that prices its perpetual accounts from Hyperliquid, and each firm’s own wording decides the meaning.
The meaning decides what an explorer can show you, and the deepest one is the first card below; the full record of its rules, prices and payouts is in the Propr review.
The line that matters is that an on-chain payout proves the transfer, not live capital: a USDC transaction from Velotrade’s wallet shows that Velotrade paid a trader that amount at that time, and Velotrade’s terms still describe the funded account as simulated. Payout Junction, a database that matches prop firm payouts to public blockchain transactions, states the same limit in its own words, “verified means the money moved.
It does not rate the firm, its rules or its profit split”, and it counted 936,352 verified payouts from 39 firms worth $1.63 billion on 30 September 2026. Even Propr’s routed trades are the firm’s choice per trade, and the B-book trades the firm labels are internal entries with no chain record.
Whether the simulated balance behind any of these firms’ accounts is ever replaced by real money is explained on the page about whether prop firms use real money, in one sentence here and in full there.
On-chain crypto prop firms compare on three axes with a different leader on each. Propr leads on price among the on-chain firms at $25 for $5,000 on its Turbo 1-step, HyperPNL leads on payout speed with a stated three seconds by smart contract, and Velotrade leads on drawdown room with a static 10% on its Classic 2-step. The six cards below follow the same order: origin and category, the unique attribute, the price from, the on-chain rule with its exact value, the catch, and the links.
Propr is an on-chain crypto prop firm run by Propr Limited in the British Virgin Islands on Hyperliquid perpetuals across crypto, equities, commodities, indices and FX. The unique attribute of Propr is labelled execution: the firm chooses per trade between routing to Hyperliquid and an internal entry, and marks each one. Prices at Propr start at $25 for a $5,000 Turbo 1-step. The on-chain rule at Propr is the routing plus the payout.
A-book trades are visible on chain, USDC payouts go on chain on demand from $20, and a transparency dashboard showed a 16.3% pass rate and $2.23 million paid on 29 September 2026, the firm’s own figures.
The catch at Propr is the 2-step’s trailing 8% maximum from the equity high and a payout rule that sweeps the full profit with no partial withdrawals. Read the Propr review.
HyperPNL is an on-chain crypto prop firm run by Hyperpnl Ltd. in the Cayman Islands, whose off-chain engine fills orders against Hyperliquid’s live order book. The unique attribute of HyperPNL is the payout contract: USDC paid by an on-chain smart contract from a public payout reserve, one request per day from the first funded day. Prices at HyperPNL start at $42 for a $5,000 1-step, and the published ladder stops at $25,000.
The on-chain rule at HyperPNL is payouts only, with fills off chain, a 1% minimum and a “under 3 seconds” claim. The catch at HyperPNL is access and size: US and Canadian residents are excluded, no $100,000 account is published, and one evaluation account is allowed at a time. Read the HyperPNL review.
Velotrade is a crypto-first crypto prop firm run by Velotrade Re Limited in Hong Kong on simulated accounts. The unique attribute of Velotrade is verifiability: every payout is listed with an Arbiscan transaction link. Prices at Velotrade start at $40 for a $5,000 Pro 1-step.
The on-chain rule at Velotrade is payouts only, USDC or USDT on Arbitrum weekly on request with a $100 minimum, after 14 days from the first funded trade plus 5 qualifying days. The catch at Velotrade is the wait before the first payout, the account halt during each review, and 0.05% daily funding on crypto positions open at 00:30 UTC. Read the Velotrade review.
Upscale is an on-chain crypto prop firm on a web3 platform with simulated accounts, whose terms do not name a legal entity in the pages PropRubric read. The unique attribute of Upscale is the network choice, USDT on TON, Base or BSC with a $1 minimum and wallet addresses in a public feed. Prices at Upscale start at $69 for a $5,000 Basic on the crypto market. The on-chain rule at Upscale is payouts only, one request per 14-day period, capped per period at 50% of a $5,000 account and falling by size to 15% of a $200,000 one.
The catch at Upscale is the terms against the marketing: “No KYC” and “no geographic restrictions” on the homepage, a passport and a live selfie before withdrawal and an exclusion of US residents in the terms of 15 May 2026. Read the Upscale review.
SizeProp is a crypto prop firm run by SIZ EDU Limited in the Cayman Islands on Hyperliquid prices. The unique attribute of SizeProp is a split that scales from 80% to 95% under a static maximum drawdown unaffected by payouts. Prices at SizeProp start at $36 for a $5,000 Degen.
The on-chain rule at SizeProp is branding: its terms state that all trading is simulated and no trade is executed on any live market, and its USDT payouts on Ethereum carry no published transaction record.
The catch at SizeProp is the mismatch between the perp-trader marketing and the simulated-only terms, and a 20:00 UTC daily reset. Read the SizeProp review.
E8 Markets is a multi-asset crypto prop firm run by E8 Funding LLC under Texas law, with 1:15 leverage on BTC and ETH perpetuals. The unique attribute of E8 Markets is the perpetual account priced from Hyperliquid on a multi-asset firm, beside its forex plans. Prices at E8 Markets start at $28 for a $5,000 E8 Pro Perpetual.
The on-chain rule at E8 Markets is the price source only: perpetuals are priced off Hyperliquid, and payouts go through Rise, bank or Aeropay off chain. The catch at E8 Markets is KYC before purchase through Veriff and a 4% dynamic maximum drawdown on E8 One that trails closed profits until it locks. Read the E8 Markets crypto trading page.
You choose an on-chain crypto prop firm by finding what exactly is on chain and verifying it once yourself, and six checks cover it.
The order of the firms above follows on-chain depth first and payout speed second, and the method behind that order is on the page about how PropRubric verifies crypto prop firm data. The firms above leave a chain record; the claims that don’t are worth knowing too, because “on-chain” sells.
Two kinds of on-chain claim leave no record a trader can check, and one firm in the census is not yet checked at all.
Whether a routed trade or a contract payout ever means real capital behind the funded balance is the question answered, firm by firm, on the page about whether prop firms use real money. The firms that connect the account to a centralized exchange instead, and how deep each connection goes, are on the list of Bybit firms, the crypto prop firms that use Bybit.
