Our Verdict

Carrot Funding bills itself as the first DeFi-native trader funding firm, and the core pitch holds up: every trade, payout, and fund movement is publicly verifiable on-chain, which removes the “trust us” element that defines most crypto prop firms. The important correction to make here is that Carrot does not run on Hyperliquid. It settles on Arbitrum and executes through Gains Network’s gTrade protocol, a well-established, audited on-chain perpetuals exchange that predates most of the newer Hyperliquid-native firms in this category.

That distinction is actually a point in Carrot’s favor rather than against it. Gains Network is a proven, audited protocol with years of real usage behind it, not an unproven integration. Combined with account sizes scaling up to $500,000 and access to 165+ assets across crypto, forex, and commodities in one framework, Carrot offers real range for a DeFi-native product.

The 80% profit split is solid but not class-leading, sitting below the 90%+ some Hyperliquid-native competitors offer. Trustpilot feedback is genuinely positive across 24 reviews, with traders specifically citing the trust-minimized structure and steady platform improvements, a reasonable sample size for a firm this size.

Carrot is worth strong consideration if fully verifiable on-chain settlement matters more to you than chasing the highest possible split, and if you want a DeFi-native firm built on infrastructure with an actual track record rather than the newest available chain. Just go in knowing it is an Arbitrum and Gains Network product, not a Hyperliquid one, if that distinction matters for your own due diligence.