Hyperliquid perpetual futures
Perpetual futures never expire. 150+ coin pairs are listed with a familiar CEX-style order book, chart, and order panel.
EVENTCODE· No sign-up · One wallet connection · Applied before your first trade
Perpetual futures = futures without expiry
To keep prices anchored to spot, longs and shorts exchange periodic funding payments. The exchange itself does not collect funding; it flows between longs and shorts. See fees for maker/taker structure.
Chart · order book · order panel
A familiar CEX-style three-panel layout.
Chart (left)
Timeframe switcher (1m, 15m, 1h…) and indicators.
Order book (center)
Real-time bids/asks and depth.
Order panel (right)
Leverage, cross/isolated, and order type.
Four steps to place an order
Select market
Search and pick a pair from the top bar.
Set leverage
Varies by asset. BTC and other majors go up to ~40x.
Cross / Isolated
Choose whether to share margin across positions.
Direction · size · type
Enter Long/Short + size + market/limit and submit.
Choose your margin mode
| Attribute | Cross | Isolated |
|---|---|---|
| Margin pool | Entire account balance | Only allocated to that position |
| Max loss on liquidation | Up to full account balance | Capped at the isolated margin |
| Use case | Running many positions together | Boxing risk per trade |
Order types and TP/SL
Market, limit, post-only, TWAP, and scale orders are supported. A limit order that rests before filling is a maker (0.015%); a limit that fills immediately still counts as taker (0.045%).
Take Profit (TP) and Stop Loss (SL) can be attached at position entry via the toggles at the bottom of the order panel.
Leverage & liquidation calculator
Enter entry price, notional, and leverage to see required margin, liquidation price, and P&L at any move.
Preview liquidation price and P&L
Approximates initial and maintenance margin. Funding and trading fees are not included.
Note: Maintenance margin ratio is approximated as 1 ÷ (2 × asset max leverage). Actual liquidation prices vary with funding, fees, and cross/isolated settings.
Same interface, stock perps too
Once the perp UI is familiar, trading stock and index perps uses the same flow.
EVENTCODEThe 4% discount only applies if the code is entered before your first trade.
Next: Stock perps · Fees.