Execution Logic

Orchard is a trading engine, not a custody layer or a risk engine. It lets you open and manage pair and basket trades using perpetual futures, routing your long and short legs to your chosen venue from one interface.

🧠 How it works

• Leg splitting: When you place a trade, Orchard splits the position into a long side and a short side (one leg each for a pair; many for a basket) and sizes each leg from your weights and total notional.
• Synchronized execution: Both sides fire in the same block / same timestamp, minimizing execution mismatch, which is critical for relative-value trading where you care about the ratio & execution, not the absolute fills.
• Perpetual instruments: Everything traded through Orchard is a perpetual future, with configurable leverage, margin allocation, and side-specific sizing.
• The synthetic position: Orchard treats the two sides as one synthetic position on the ratio, so your PnL, funding, TP/SL, and rebalancing are all computed on the relationship between the sides.

🔐 Fund Flow & Custody

You deposit collateral directly to the venue (e.g. Hyperliquid). Orchard acts as a management and execution layer: it formats, signs, and routes your orders, monitors your positions, and lets you adjust or close them, but it never holds or custodies your funds. On Hyperliquid, orders carry Pear’s builder code for attribution and fee tracking

Pear does not hold or custody user funds.