Want to trade on Hyperliquid but not sure where to start? This guide walks you through everything — from setting up your wallet to placing your first trade. No fluff, just the steps you need.
What you'll learn:
- How to connect your wallet (or use email login)
- How to deposit USDC from Arbitrum, Bitcoin, Solana, or Ethereum
- How to place your first perpetual trade
- Order types explained (limit, market, stop-loss, TWAP)
- How to earn yield with HLP vaults
- Fee structure and how to reduce costs
Why Trade on Hyperliquid?
New to Hyperliquid? Check our full Hyperliquid review for an in-depth look at fees, security, and how it compares to dYdX and GMX.
Hyperliquid handles 80% of all perp DEX users and over $5 billion in daily volume. Here's why traders choose it:
- Zero gas fees — Every trade is free (no Arbitrum/ETH gas)
- CEX-level speed — Sub-second execution, full orderbook
- Lowest fees — 0.045% taker, 0.015% maker (drops with volume)
- 50x leverage — On 100+ perpetual markets
- No KYC — Connect wallet and trade
→ Read our full Hyperliquid review
What You Need to Start
Option A: Wallet login
- An EVM wallet (MetaMask, Rabby, Coinbase Wallet)
- USDC on Arbitrum (or BTC/ETH/SOL to swap)
- Small amount of ETH on Arbitrum for the deposit transaction
Option B: Email login
- Just your email address
- USDC, BTC, ETH, or SOL to deposit
Don't have a wallet yet? Download Rabby or MetaMask — takes 2 minutes.
Step 1: Connect to Hyperliquid
Using a wallet:
- Go to app.hyperliquid.xyz
- Click "Connect" in the top right
- Select your wallet (MetaMask, Rabby, WalletConnect, etc.)
- Approve the connection in your wallet popup
- Click "Enable Trading" and sign the message (gas-free)
Using email:
- Go to app.hyperliquid.xyz
- Click "Connect" → Enter your email
- Check your inbox for the 6-digit code
- Enter the code — you're connected
Email login creates a new wallet address for you automatically. Simple, but you don't control the private keys directly.
Step 2: Deposit Funds
Hyperliquid accepts deposits from multiple chains:
| Chain | Assets | Notes |
|---|---|---|
| Arbitrum | USDC | Fastest, recommended |
| Bitcoin | BTC | Swap to USDC on Hyperliquid |
| Ethereum | ETH, ENA | Higher gas, swap to USDC |
| Solana | SOL, BONK, FARTCOIN | Swap to USDC |
Depositing USDC from Arbitrum (recommended):
- Make sure you have USDC + a small amount of ETH on Arbitrum
- Click "Deposit" on Hyperliquid
- Enter the amount of USDC
- Click "Deposit" and confirm in your wallet
- Wait ~30 seconds — funds appear in your balance
Don't have USDC on Arbitrum? Use the Arbitrum Bridge to move funds from Ethereum, or withdraw directly from an exchange (Binance, Coinbase) to Arbitrum.
Depositing BTC, ETH, or SOL:
- Click "Deposit" and select your asset
- Copy the deposit address shown
- Send from your wallet or exchange to that address
- Once received, swap to USDC on Hyperliquid's spot market
Step 3: Place Your First Trade
Now for the fun part. Here's how to open a perpetual position:
- Select a market — Use the token selector (BTC-USD, ETH-USD, etc.)
- Choose direction — Long (price goes up) or Short (price goes down)
- Set your size — Use the slider or type amount. Size = Leverage × Collateral
- Pick order type — Market (instant) or Limit (specific price)
- Click "Place Order" — Confirm in the popup
Example: You have $1,000 USDC. You want to long BTC with 10x leverage. Your position size = $10,000. If BTC goes up 5%, you make $500 (50% on your collateral). If BTC drops 10%, you get liquidated.
Pro tip: Start with low leverage (2-5x) until you're comfortable. High leverage = fast liquidations.
Order Types Explained
Hyperliquid offers CEX-level order types:
| Order Type | What It Does | When to Use |
|---|---|---|
| Market | Fills immediately at best price | Need to enter/exit now |
| Limit | Fills at your price or better | Want a specific entry |
| Stop Loss | Triggers market order when price hits level | Risk management |
| Take Profit | Closes position at target price | Lock in gains |
| TWAP | Splits order over time (reduces impact) | Large positions |
| Scale Orders | Multiple orders across price range | DCA entries |
Always set a stop-loss. Seriously. Leverage without risk management is how accounts blow up.
Hyperliquid Fee Structure
| 14-Day Volume | Taker Fee | Maker Fee |
|---|---|---|
| < $5M | 0.045% | 0.015% |
| $5M - $25M | 0.040% | 0.010% |
| $25M - $100M | 0.035% | 0.005% |
| $100M - $500M | 0.030% | 0.000% |
| > $500M | 0.028% | -0.001% (rebate) |
How to pay less:
- Use limit orders (maker fee is cheaper)
- Trade more volume (tiers are based on 14-day rolling)
- Stake HYPE tokens (up to 40% fee discount)
How to Earn Yield: HLP Vaults
Don't want to actively trade? You can deposit into HLP (Hyperliquid Liquidity Provider) vaults and earn yield.
How it works:
- You deposit USDC into HLP
- Your funds provide liquidity for traders
- You earn a share of trading fees + market-making profits
- Current APY: ~20-25% (varies with market conditions)
The risk: HLP takes the other side of trader positions. If traders win big, HLP can lose money. It's not risk-free yield.
To deposit: Go to Vaults → Select HLP → Deposit USDC.
How to Stake HYPE
Staking HYPE tokens gives you:
- ~2.3% APY in HYPE rewards
- Up to 40% trading fee discount
- Governance voting rights
To stake:
- Go to the Staking tab
- Transfer HYPE to your staking balance
- Delegate to a validator
- Done — rewards accrue automatically
Unstaking takes 7 days + 1 day for withdrawal.
How to Withdraw
- Click "Withdraw" on Hyperliquid
- Enter the amount of USDC
- Click "Withdraw to Arbitrum"
- Funds arrive in your wallet within minutes
Withdrawal fee: $1 flat (no gas needed from you — validators handle it).
Tips for New Hyperliquid Traders
- Start small — Get comfortable with the interface before sizing up
- Use stop-losses — Every position, no exceptions
- Low leverage first — 2-5x until you understand liquidation mechanics
- Watch funding rates — You pay/receive funding every hour based on market positioning
- Don't chase — FOMO entries usually get liquidated
FAQ
Is Hyperliquid safe?
Hyperliquid has processed billions in volume without a core protocol exploit. However, there were security incidents in 2025 (user wallet compromises, manipulation attempts). Use appropriate position sizing and don't store life-changing money on any DEX.
Do I need KYC to use Hyperliquid?
No. Connect your wallet and trade. No identity verification required.
What's the minimum deposit?
No minimum, but deposits under $10 aren't practical given the $1 withdrawal fee.
Can I use Hyperliquid on mobile?
The web app works on mobile browsers, but there's no native app. The experience is better on desktop.
How do I get USDC on Arbitrum?
Withdraw from an exchange (Binance, Coinbase, Kraken) directly to Arbitrum, or bridge from Ethereum using the Arbitrum Bridge.
What happens if I get liquidated?
Your position closes automatically and you lose your collateral for that position. Other funds in your account are not affected (isolated margin by default).
How Does Hyperliquid Compare?
Not sure if Hyperliquid is right for you? See how it stacks up:
- Hyperliquid Review 2026 — Full breakdown of features, fees, security
- Hyperliquid vs dYdX vs GMX — Side-by-side comparison
- Best Perpetual DEX 2026 — Our top picks ranked
Last updated: February 2026