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HYPERLIQUID

Hyperliquid: the complete guide

Hyperliquid, HL, HYPE, HIP-3, HIP-4: everything about the onchain perps exchange where every trade is public, in plain words, in the order you need it.

Updated

What is Hyperliquid, in 60 seconds?

Hyperliquid is an onchain exchange, built on its own blockchain, best known for perps: bets that a price goes up or down, with a multiplier. Your money stays in your own wallet, and every account and trade is public.

  • Perps first. BTC, ETH, SOL and many more coins, meme coins like PEPE, WIF and POPCAT, plus stocks, gold and indices through HIP-3 markets.
  • USDC in, USDC out. Deposits arrive as USDC from the Arbitrum One network. At least 5 USDC per deposit.
  • Low fees. 0.045% of the position per side at the base taker tier on main markets, meme coins included, 0.09% on stocks, gold and indices.
  • Everything is public. That is why you can track and copy Hyperliquid whales.
  • HYPE is Hyperliquid's token. HL is a common short name for Hyperliquid.
  • HIP-4 added prediction markets, called outcomes, in 2026.

Start with what is Hyperliquid?. Every term is in the perps glossary.

How do I start on Hyperliquid?

Get USDC on Arbitrum One, deposit at least 5 USDC, and place a first small trade with isolated margin and a low multiplier.

  1. What is Hyperliquid? The perps exchange where every trade is public.
  2. Hyperliquid for beginners: your first perps trade, step by step.
  3. How to deposit USDC to Hyperliquid without losing it.
  4. Hyperliquid minimums: $10 per order, 5 USDC to deposit, and $5 trades.
  5. Hyperliquid demo account: practice perps with $1,000 of practice money.

What does Hyperliquid cost?

A small fee on each side of a trade, hourly funding on open perps, and $1 per USDC withdrawal.

  1. Hyperliquid fees explained: every cost of a trade, in cents.
  2. Funding rate explained: the small hourly payment between longs and shorts.
Item Per side, base tier
Main perps and meme coins, taker 0.045%
Main perps, maker 0.015%
Stocks, gold and indices (HIP-3) 0.09% taker
App builder fee, maximum on perps 0.1% (CopyHype's fee)
USDC withdrawal $1 flat

How do leverage and liquidation work on Hyperliquid?

Your amount times the multiplier is your position; if the price moves too far against you, the trade closes and you lose the amount. Maintenance margin is half the margin needed at the coin's maximum multiplier.

  1. Leverage and liquidation on Hyperliquid, explained for copiers.
  2. How to calculate liquidation price, with worked examples.
  3. Isolated vs cross margin: which one protects your money?.

Who are the Hyperliquid whales, and how do I follow them?

Large, active accounts whose every trade is public. You can track them, and copy the ones whose style survives a short delay.

  1. The Hyperliquid leaderboard, explained for copiers.
  2. Hyperliquid whale tracker: how to follow whale wallets.
  3. Hyperliquid top traders this week: cashed-out profit vs paper profit.
  4. How to find the best Hyperliquid traders to copy.
  5. Smart money copy trading on Hyperliquid.
  6. How to copy trade on Hyperliquid, step by step.

What else can I trade on Hyperliquid?

Meme coin perps on the main list, stocks, gold, oil and indices through HIP-3 perps, and prediction markets through HIP-4 outcomes.

  1. What is HIP-3? Hyperliquid's builder-deployed perps.
  2. Stocks, gold and oil on Hyperliquid: how these perps work.
  3. Trade meme coin perps on Hyperliquid (PEPE, WIF, POPCAT and more). The k prefix, low multipliers and a $10 liquidation example.
  4. Hyperliquid prediction markets (HIP-4 outcomes), explained simply. Live in CopyHype.
  5. How to trade Hyperliquid outcomes, step by step.

How do I trade Hyperliquid from Telegram?

With a Telegram bot that places Hyperliquid trades from your own wallet, using a trading key that cannot withdraw.

  1. Hyperliquid Telegram bot: how to copy whales and trade perps from Telegram.
  2. Hyperliquid API wallets: how a bot can trade for you but never withdraw.
  3. Best Hyperliquid copy trading bots and apps, compared.

Is Hyperliquid safe, and how does it compare?

Hyperliquid removes some risks of company-run exchanges and adds others, like smart contract and market risks. Honest looks:

  1. Is Hyperliquid safe? An honest look at what can go wrong.
  2. Hyperliquid vs Binance vs Bybit for a perps beginner.
  3. Hyperliquid vs dYdX vs GMX.
  4. Copy trading vs Hyperliquid vaults.

What is the easiest way to try Hyperliquid?

Practice money on live Hyperliquid prices, inside Telegram. CopyHype gives you $1,000 of practice money as a free 24-hour trial, plus 24 hours for each invited friend whose first trade opens.

  1. Open @copyhypefamilybot. Tap Start, then Open the app.
  2. Copy a whale or trade solo. Crypto, stocks, gold, indices and meme coins, from $5 a trade.
  3. Read the result after fees. Same rules and trading fees as real money, in practice money.
  4. Switch to Real when ready. Your own non-custodial wallet; only you can withdraw.
  5. Add money. By card, Apple Pay or Google Pay from $20 (US, EU), USDT or USDC on BNB Chain, Base, Polygon or Arbitrum, or USDC on Arbitrum One. Then move it to Hyperliquid in one tap.

Frequently asked questions

What does HL mean in crypto?

HL is a common short name for Hyperliquid, the onchain perps exchange. HYPE is its token.

What is the difference between HIP-3 and HIP-4?

HIP-3 lets outside teams deploy perps markets on Hyperliquid, such as stocks and gold. HIP-4 added outcome markets, Hyperliquid's prediction markets.

What is the minimum to trade on Hyperliquid?

$10 of position per order and 5 USDC per deposit. On CopyHype you can trade from $5, because $5 at x3 is a $15 position, above the $10 minimum.

Can I copy trade on Hyperliquid?

Yes. Every Hyperliquid account is public, so copy tools can follow any trader. CopyHype copies Hyperliquid perps and prediction traders from Telegram.

Is CopyHype part of Hyperliquid?

No. CopyHype is an independent app built on Hyperliquid, not affiliated with it.

More in the docs

  • CopyHype docsHow CopyHype copies the best Hyperliquid traders in Telegram: start in 3 taps, how copies open and close, Let it ride, max loss, wallets and fees.
  • Perps for beginnersLearn perps from zero: perpetual futures, leverage, liquidation, margin, funding and fees, then trade or copy the best Hyperliquid traders.
  • How whales are pickedHow CopyHype picks Hyperliquid whales: Hyperliquid's leaderboard, top 8 by profit or ROI over 24h, 7 and 30 days, among traders active in the last 24h.
  • Wallets, deposits and withdrawalsYour CopyHype wallet is yours: set it up in Telegram, add money by card, USDT or USDC, move it into Hyperliquid, withdraw, export your key.
  • Perps glossaryEvery perps and Hyperliquid term in one or two plain sentences: leverage, margin, liquidation, funding, mark price, HIP-3, HIP-4 outcomes and more.
  • CopyHype feesEvery CopyHype fee with worked examples: 0.1% of the position each way, plus Hyperliquid's 0.045% or 0.09% on stocks, gold and indices.
  • Predictions in CopyHypeBet Yes or No on sports, crypto prices, rates and news in CopyHype, on Hyperliquid's outcome markets. From $10 a bet, sell any time before the result.
  • Predictions 101: prediction markets for beginnersPrediction markets from zero: Yes and No prices as chances, Hyperliquid HIP-4, a $10 example, selling early, fees, and copying the best prediction traders.
  • Copy trading: the complete guideCopy trading from zero: how it works, who to copy, how much to start with, fees, risks and honest comparisons. Every guide in one place, in order.
  • Prediction markets: the complete guidePrediction markets from zero: Yes and No shares, odds as chances, payouts, fees, Hyperliquid outcomes (HIP-4), Polymarket and Kalshi, and the risks.
  • Telegram trading bots: the complete guideTelegram trading bots and Mini Apps explained: how they work, who holds the keys, copy trading bots, Hyperliquid bots, fees, scams and safety checks.
  • Copy trading glossaryCopy trading, Telegram bot and prediction market words explained in one or two sentences: ROI, drawdown, copy ratio, API wallet, event contract and more.