How to start trading

What do I need to trade on Hyperliquid?

You can trade on Hyperliquid with a normal defi wallet or by logging in with your email address.

If you choose to use a normal defi wallet, you need:

1. An EVM wallet

   • If you don’t already have an EVM wallet (e.g., Rabby, MetaMask, WalletConnect, Coinbase Wallet), you can set one up easily at https://rabby.io/.

   • After downloading a wallet extension for your browser, create a new wallet.

   • Your wallet has a secret recovery phrase – anyone with access to your password or seed phrase can access your funds. Do not share your private key with anyone. Best practice is to record your seed phrase and store it in a safe physical location.

2. Collateral

   • USDC and ETH (gas to deposit) on Arbitrum, or

   • BTC on Bitcoin

How do I onboard to Hyperliquid?

If you choose to log in with email:

1. Click the "Connect" button and enter your email address. After you press "Submit," within a few seconds, a 6 digit code will be sent to your email. Type in the 6 digit code to login.

2. Now you're connected. All that's left is to deposit. A new blockchain address is created for your email address. You can send USDC over the Arbitrum network or BTC over Bitcoin. It’s easy to do from a centralized exchange or another defi wallet.

If you choose to onboard with a defi wallet:

1. Once you have an EVM wallet and collateral, go to https://app.hyperliquid.xyz/trade

2. Click the “Connect” button and choose a wallet to connect. A pop-up will appear in your wallet extension asking you to connect to Hyperliquid. Press “Connect.”

3. Click the “Enable Trading” button. A pop-up will appear in your wallet extension asking you to sign a gas-less transaction. Press "Sign."

4. Deposit collateral to Hyperliquid, choosing between BTC on Bitcoin and USDC on Arbitrum. For USDC: enter the amount you want to deposit and click “Deposit.” Confirm the transaction in your EVM wallet. For BTC: send BTC to the destination address shown.

5. You're now ready to trade

How do I trade perps on Hyperliquid?

With perpetual contracts, you use USDC as collateral to long or short the token instead of buying the token itself, like in spot trading.

1. Using the token selector, choose a token that you want to open a position in.

2. Decide if you want to long or short that token. If you expect the token price to go up, you want to long. If you expect the token price to go down, you want to short.

3. Use the slider or type in the size of your position. Position size = your leverage amount * your collateral

4. Lastly, click Place Order. Click Confirm in the modal that appears. You can check the “Don’t show this again” box so you don’t have to confirm each order in the future.

How do I bridge USDC onto Hyperliquid?

1. You will need ETH and USDC on the Arbitrum network, since Hyperliquid’s native bridge is between Hyperliquid and Arbitrum. ETH will only be used as gas for transactions to deposit USDC. Trading on Hyperliquid does not cost gas.

   1. You can use various bridges, such as https://bridge.arbitrum.io/, https://app.debridge.finance/, https://swap.mayan.finance/, https://app.across.to/bridge?, https://routernitro.com/swap, and https://synapseprotocol.com/

   2. Alternatively, you can move funds directly to Arbitrum from a centralized exchange, if you’re already using one.

2. Once you have ETH and USDC on Arbitrum, you can deposit by clicking the “Deposit” button on https://app.hyperliquid.xyz/trade

How do I withdraw USDC from Hyperliquid?

1. On https://app.hyperliquid.xyz/trade, click the “Withdraw” button in the bottom right.

2. Enter the amount of USDC you would like to withdraw and click “Withdraw from L1.” This transaction does not cost gas. There is a $1 withdrawal fee instead.