Hyperliquid.Review

Getting Started with Hyperliquid

Your First Trade in 5 Minutes: A Step-by-Step Guide

Hyperliquid is a high-performance Decentralized Exchange (DEX) that offers the speed of a CEX (like Binance) with the security of self-custody. If you are new to DeFi or just new to Hyperliquid, this guide will walk you through every single step—from setting up your wallet to placing your first trade.

Prerequisites

Before we begin, ensure you have the following:

🔐

A Web3 Wallet

We recommend Rabby or MetaMask.

💰

USDC (USDC.e)

Hyperliquid uses bridged USDC from the Arbitrum One network as collateral.

⛽

ETH on Arbitrum

You need a tiny amount of ETH (approx. $1-2) to pay for the initial bridge transaction.

Note: Once your funds are on Hyperliquid, you never pay gas fees again. You only need ETH for the deposit and withdrawal.

5-Step Quickstart Guide

1

Connect to the Exchange

  1. 1.Navigate to the official app: app.hyperliquid.xyz
  2. 2.Click the Connect button in the top right corner
  3. 3.Select your wallet (e.g., Rabby)
  4. 4.Sign the request in your wallet - this is free and safe, it does NOT give permission to move funds yet
2

Deposit Collateral (Bridge)

  1. 1.Click the Deposit button in the top right (or the Portfolio tab)
  2. 2.A Bridge modal will open
  3. 3.Enter the amount of USDC you want to deposit (e.g., 1000)
  4. 4.Click Approve to let the smart contract spend your USDC (~$0.10 in ETH)
  5. 5.Click Deposit and confirm in your wallet
  6. 6.Wait 30-60 seconds for the bridge process to complete
3

Enable Trading (One-Click)

  1. 1.When you try to place your first order, you will be prompted to Enable Trading
  2. 2.Sign the Message - this creates a temporary key pair on your browser
  3. 3.This authorizes your browser to sign orders without wallet popups
  4. 4.This agent key can ONLY place orders - it cannot withdraw your funds
4

Place Your First Trade

  1. 1.Select Market: Click the ticker menu and select ETH-USD
  2. 2.Choose Order Type: Limit (specific price, lower fees) or Market (immediate, higher fees)
  3. 3.Set Leverage: Start low (2x or 5x) - avoid 50x leverage which is extremely risky
  4. 4.Choose Cross (shared balance) or Isolated (separate balance)
  5. 5.Enter Size: Type the amount of ETH or USD value you want to trade
  6. 6.Click the green Buy/Long button
  7. 7.Success! You will see an Order Placed notification
5

Manage Your Position

  1. 1.Your trade will appear in the Positions tab at the bottom
  2. 2.Monitor PnL: Shows your profit or loss in real-time
  3. 3.Watch Liq. Price: The price at which you will be liquidated
  4. 4.Set TP/SL: Click to set Take Profit or Stop Loss orders
  5. 5.Close Position: Click Market on the position to sell immediately

How to Withdraw

Want to take your profits home?

  1. Click Withdraw in the Portfolio/Deposit window
  2. Enter the amount of USDC
  3. Click Withdraw to initiate the bridge back to Arbitrum
  4. Wait for the security challenge period to complete

Official Bridge

  • ⏱️ Speed: ~1-2 days
  • 🔒 Trust: Fully trustless
  • ✓ Best for: Large withdrawals, maximum security

Instant Bridge (Hypurr/Squid)

  • ⚡ Speed: ~1 minute
  • 💰 Cost: Small fee (uses third-party LP)
  • ✓ Best for: Quick withdrawals
Start Trading on Hyperliquid

Important Concepts to Remember

🎯 Leverage

Higher leverage = higher rewards but higher risk of liquidation. Start with 2x-5x for safety. Never use 50x unless you fully understand the risks.

📊 Cross vs Isolated Margin

  • Cross: Your entire balance backs all positions. Better for experienced traders.
  • Isolated: Each position has separate collateral. Safer for beginners.

💎 Maker vs Taker Fees

  • Maker (Limit Orders): 0.01% - You add liquidity, lower fees
  • Taker (Market Orders): 0.035% - You take liquidity, higher fees

🔐 API Agent Security

The browser agent key signs your orders but CANNOT withdraw funds. Only your main wallet can withdraw. This is what makes Hyperliquid a CEX experience with DEX security.

⚠️ Liquidation Price

Always monitor your Liquidation Price. If the market reaches this price, your position will be closed and you'll lose your collateral. Set Stop Loss orders to prevent this.

Troubleshooting

❓

Deposit Failed

Do you have enough ETH on Arbitrum for gas?

❓

Order Failed

Do you have enough Available Balance? Open orders lock up your collateral.

❓

Chart not loading

Refresh the page. Browser caches can sometimes lag.

Quick Tips for Success

  • ✓Start Small: Your first trade should be modest (e.g., $100-500) to learn the interface
  • ✓Use Limit Orders: They're cheaper (0.01% vs 0.035%) and give you more control
  • ✓Always Set Stop Loss: Protect yourself from unexpected market moves
  • ✓Monitor Your Collateral: Keep track of your Available Balance to avoid liquidations
  • ✓Don't Over-leverage: 2x-5x is plenty to start. Build your skills first.

Ready to Get Started?

You are now equipped with everything you need to trade on the fastest on-chain exchange in the world. Remember to start small, learn the interface, and only increase leverage as you gain confidence.

Start Trading on Hyperliquid