Short answer
To start on Hyperliquid, get some USDC on the Arbitrum network, deposit at least 5 USDC to Hyperliquid, pick a coin, choose long (up) or short (down), set isolated margin and a low multiplier, and place a small order of at least $10 of position. A safer first step is practice money: on CopyHype you get $1,000 of practice money on live Hyperliquid prices and can copy a top trader from $5 a trade before any real money moves.
Hyperliquid's trading screen can look like an airplane cockpit: charts, an order book, a dozen buttons. You only need a handful of them for a first trade. This guide walks through the whole path, from zero to your first closed perp, and tells you exactly which setting to pick at each step and why.
What do I need before my first Hyperliquid trade?
A wallet or an email login, some USDC on the Arbitrum network, and a small amount you are fine losing. That is all. No account form, no identity check.
Hyperliquid's official guide lists the same basics: an EVM wallet like Rabby or MetaMask, or an email login, plus USDC and a little ETH for gas on Arbitrum (>Hyperliquid docs, how to start trading). If you have never used a crypto wallet, this is the hardest part. That is why apps like CopyHype create the wallet for you with your Telegram account.
A checklist:
| You need | Why | Beginner tip |
|---|---|---|
| A wallet or email login | It is your Hyperliquid account | Email login is the simplest on Hyperliquid itself |
| USDC on Arbitrum | It is the money you trade with | Buy it on an exchange and withdraw on the Arbitrum network |
| A little ETH on Arbitrum | Pays the deposit network fee | Not needed with email login or CopyHype |
| At least 5 USDC | The minimum deposit | Less than 5 USDC is lost, not credited |
| A plan for your amount | Limits the damage of a bad trade | Start with $10 to $20 a trade |
How do I put money on Hyperliquid?
Send USDC on Arbitrum to Hyperliquid with the Deposit button. At least 5 USDC, and it arrives in under a minute. Below 5 USDC, the deposit is lost.
Hyperliquid's bridge docs are very direct: the minimum deposit is 5 USDC, and anything below it "will not be credited and be lost forever". Deposits are credited in under a minute; withdrawals reach your wallet in 3 to 4 minutes (>Hyperliquid docs, bridge). Withdrawing costs a flat 1 USDC (>eco.com). The full walkthrough, with the common mistakes, is in how to deposit USDC to Hyperliquid.
Which coin should I trade first?
A big, liquid one: BTC or ETH. They move less wildly than small coins, and their safety buffer before liquidation is smaller, so a low multiplier gives you lots of room.
Small coins can move 10% in an hour. On a coin whose maximum multiplier is x10, the liquidation buffer is 5% of the position, so even at x5 you only have about 15% of room (>Hyperliquid docs, margin tiers). BTC at x3 gives you more than 30%. First trades are for learning the buttons, not for chasing a 10x.
Should I go long or short?
Whichever matches your view, with a small amount. If you have no view, you have no trade. Long bets up, short bets down. Both are one tap.
There is no beginner side. Shorts can be squeezed, longs can be dumped on. What matters more is size and multiplier. If you want a refresher, read long vs short.
Which settings should a beginner pick?
Isolated margin, a multiplier of x2 to x5, a market order, and a stop loss. Those four choices make your first trade survivable.
| Setting | Pick | Why |
|---|---|---|
| Margin mode | Isolated | A bad trade can only lose its own margin. Hyperliquid's default is cross |
| Multiplier | x2 to x5 | Gives the trade room to wiggle before liquidation |
| Order type | Market | Fills right away, no waiting. Costs the taker fee |
| Stop loss | Yes, set one | Closes the trade before it reaches liquidation |
| Take profit | Optional | Locks a win if price reaches your target |
| Size | At least $10 of position | Hyperliquid's minimum order value |
Two of these need a word. Hyperliquid's default margin mode is cross, which shares your whole balance across trades (>Hyperliquid docs, margining). Switch it to isolated before you open. And the $10 minimum applies to the position, not your margin: $5 at x2 is a $10 position (>Chainstack). See isolated vs cross margin and take profit and stop loss.
How do I place my first trade on Hyperliquid?
Pick the coin, set isolated and a low multiplier, choose long or short, enter the size, add a stop loss and confirm. Then watch it, and close it yourself when you are done.
- Open the coin's market. Pick BTC or ETH from the market list.
- Set the margin mode to Isolated. It is next to the multiplier. Hyperliquid starts on Cross.
- Set the multiplier to x2 to x5. Lower is calmer.
- Choose Long or Short and Market. Long if you think it goes up, short if down.
- Enter the size. Keep the position at $10 or more. Check the liquidation price shown before you confirm.
- Add a stop loss. Pick a price well before the liquidation price.
- Confirm and watch. Close with the Close button, or let your stop loss or take profit do it.
Before you confirm, look at the liquidation price. That is where the trade closes by itself. If it looks uncomfortably close, lower the multiplier.
What does a first trade cost?
About 9 cents in Hyperliquid fees on a $100 position, opened and closed with market orders, plus tiny funding. Fees are a percentage of the position, not of your margin.
Hyperliquid's base taker fee is 0.045% and maker fee 0.015% (>Hyperliquid docs, fees). A $100 position costs 4.5 cents to open and 4.5 cents to close with market orders. Funding is paid every hour between longs and shorts, usually a fraction of a cent on a position this size. The withdrawal at the end costs 1 USDC, which on a tiny account is the biggest cost of all. More in Hyperliquid fees explained.
Is there an easier way to start?
Yes: practice first, then copy someone who already knows what they are doing. On CopyHype, you skip the wallet setup and the cockpit screen entirely.
- Open @copyhypefamilybot in Telegram. Tap Start, then Start with practice money. You get $1,000 of practice money for 24 hours, on live Hyperliquid prices.
- Pick a whale. Each row shows Hyperliquid's profit and ROI for 24h, 7 days or 30 days, and when they last traded. Their page shows the trades they have open now.
- Tap Copy. Their next trades happen for you, from $5 a trade, same coin, same side, same multiplier. Every trade uses isolated margin.
- Learn from each close. They exit, you exit. You see the result in dollars, after fees.
- Go real when ready. Switch to Real at the top of the app. Your own wallet is created in a tap, secured by Privy. Only you can withdraw.
Practice uses the same rules and trading fees as real money, so what you learn carries over. When you do go real, you pay by card, Apple Pay or Google Pay in the app (US, EU) or send USDT or USDC on BNB Chain, Base, Polygon or Arbitrum, then move it into Hyperliquid in one tap, with the network fee paid by CopyHype.
Perps are not the only game on Hyperliquid. Since May 2026 it also runs prediction markets, called outcome markets: you buy Yes or No on a question, with no multiplier, and the most you can lose is what you put in. Predictions are live in CopyHype. The basics: Hyperliquid prediction markets explained.
What mistakes do beginners make on Hyperliquid?
Leaving cross margin on, using the maximum multiplier, depositing below 5 USDC, and trading small coins first. All four are easy to avoid once you know them.
- Cross margin by accident. A single bad trade can pull from your whole balance.
- Max multiplier. At x40 on BTC, a 1.25% move can liquidate you.
- Tiny deposits. Under 5 USDC is lost. And a $1 withdrawal fee on a $10 account is 10%.
- Wrong network. USDC must come over Arbitrum for the standard deposit.
- No stop loss. Without one, the liquidation price is your stop.
- Revenge trading. Opening a bigger trade right after a loss rarely ends well.
Frequently asked questions
Is Hyperliquid good for beginners?
It is usable, but its trading screen assumes you know the jargon. Start with small amounts, isolated margin and low multipliers, or use practice money first.
How much money do I need to start on Hyperliquid?
The minimum deposit is 5 USDC and the minimum order is $10 of position. In practice, $20 to $50 lets you try a few small trades without the $1 withdrawal fee eating everything.
Do I need ETH to use Hyperliquid?
For a standard wallet deposit on Arbitrum, you need a little ETH for gas. With Hyperliquid's email login or CopyHype, you do not.
Can I use Hyperliquid on my phone?
Yes, in a mobile browser with a wallet app. CopyHype runs inside Telegram on your phone, with nothing else to install.
What is the safest first trade?
A small position on BTC or ETH, isolated margin, x2 to x3, with a stop loss. Or a copy of a whale in practice money, where no real funds move.
Where do these facts come from?
From Hyperliquid's documentation and independent guides. Sources:
- >Hyperliquid docs: how to start trading
- >Hyperliquid docs: bridge
- >Hyperliquid docs: fees
- >Hyperliquid docs: margining
- >Hyperliquid docs: margin tiers
- >Chainstack: Hyperliquid order minimums
- >eco.com: Hyperliquid withdrawal fee
Every word used here is in the perps glossary.
Keep reading
- What is Hyperliquid? The perps exchange where every trade is publicWhat Hyperliquid is, how its onchain order book works, what HYPE, HLP and HIP-3 are, what it costs, and why public trades make copy trading possible.
- How to deposit USDC to Hyperliquid without losing itDeposit USDC to Hyperliquid step by step: Arbitrum One, the 5 USDC minimum, the networks to avoid, timings, the $1 withdrawal fee, and card or USDT routes.
- Leverage explained: what x5, x10 and x50 really do to your moneyCrypto leverage explained simply: what x10 means in dollars, how far price can move before liquidation at each multiplier, and how to pick one.