How to use Hyperliquid

Updated 2026-11-05 · 8 min read · Unofficial, independent guide. Not affiliated with Hyperliquid.

This is the whole Hyperliquid workflow in one place: connect, deposit, trade, close and withdraw. Follow it in order the first time, with a small amount you can afford to lose.

Step 1: Open the official app

Open app.hyperliquid.xyz/join/HYQUID. It is the official app with referral code HYQUID attached, which takes 4% off your trading fees on your first $25M in volume. Bookmark app.hyperliquid.xyz and always return through the bookmark; look-alike phishing domains are common.

Step 2: Connect a wallet or sign in with email

1. Click Connect and choose your wallet, or choose email and enter the code sent to your inbox.
2. Sign the message to enable trading. It's a signature, not a transaction, so it costs no gas.
3. Open the Referrals page and check that HYQUID is shown.

Email and wallet logins are separate accounts with separate balances. Pick one and stick with it. More detail: how to connect a wallet.

Step 3: Deposit USDC

• Wallet account: send USDC on Arbitrum to your wallet, then click Deposit in the app and confirm. Keep a little ETH on Arbitrum for gas.
• Email account: send USDC on Arbitrum, Base, Ethereum or Polygon to the deposit address shown in the app.
• Minimum 5 USDC. Wallet deposits below 5 USDC are lost, according to the official docs.

Full walkthrough and common mistakes: how to deposit USDC. Not showing up? See deposit not showing.

Step 4: Choose a market and set up the trade

On the Trade page, pick a market from the list at the top left, for example BTC or ETH perpetuals. Before you place an order, set two things in the order panel:

Major markets allow up to 40x. High leverage is how most beginners get liquidated. Read leverage and liquidation before going higher.

Step 5: Place your first order

1. Choose Long or Short. Long profits if the price rises, short profits if it falls.
2. Choose the order type. A Market order fills now at the taker fee (0.045% at base tier). A Limit order waits for your price and, if it rests on the book, pays the maker fee (0.015%).
3. Enter the size in USD or in the coin.
4. Add Take Profit / Stop Loss. Tick TP/SL and set a stop loss price before you submit.
5. Submit and check the position in the panel at the bottom of the screen.

All order types explained: Hyperliquid order types.

Step 6: Watch the position

• Liquidation price: shown on the position. If the mark price reaches it, you're liquidated. Add margin or cut size before that happens.
• Funding: paid or received every hour while the position is open. It matters more the longer you hold. See funding rates.
• Unrealized PnL: your profit or loss if you closed now, before fees.

Step 7: Close the position

Close from the positions panel with a market close (fills now, taker fee) or a limit close (your price, maker fee if it rests). Your stop loss or take profit will also close it automatically if triggered.

Step 8: Withdraw

Click Withdraw, enter an amount within your available balance and confirm. Funds go to your address on Arbitrum for a flat 1 USDC fee, usually within minutes. Hyperliquid has no fiat cash-out, so send the USDC to an exchange that supports Arbitrum USDC if you want to sell. See how to withdraw.

The main pages of the app

Page names can change as the app is updated.

Beginner mistakes to avoid

• Depositing less than 5 USDC, or USDT instead of USDC.
• Using high leverage on the first trade.
• Trading without a stop loss.
• Using cross margin for every trade without understanding it.
• Clicking links in DMs or search ads instead of your bookmark.

Before you put in more money, read is Hyperliquid safe? and our fee guide.

FAQ

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