How to Start Trading on Hyperliquid (2026): Step by Step

Mechanics verified against official Hyperliquid documentation, 2026-07-16. See our Hyperliquid hub for the full guide set.

Hyperliquid's onboarding is short, but perpetual futures carry real liquidation risk regardless of how simple the interface is. Before depositing anything, read our risk disclosure so leverage and liquidation are clear before you're exposed to them. To follow the steps below you need one of two things to connect — a DeFi wallet or just an email address — plus some USDC to deposit as collateral.

Step 1: Connect

Hyperliquid supports two verified ways to access the exchange. The first is email login: enter your email address, then enter the six-digit code sent to your inbox to confirm access. The second is connecting a DeFi wallet directly, such as MetaMask or Phantom.

Either way, before you can place an order you need to click "Enable Trading" and sign a gas-less transaction that authorizes your trading account. This step doesn't cost network fees and doesn't move any funds — it only sets up permission to trade.

Step 2: Deposit

The primary route is depositing USDC, Hyperliquid's quote asset and the collateral every perpetual position is denominated in. USDC deposits are supported from Arbitrum, Ethereum, Base, and Polygon: enter the amount, click Deposit, and confirm the transaction in your wallet. Hyperliquid's documentation states there is no minimum deposit amount.

Other assets can also be deposited natively — for example BTC on the Bitcoin network, ETH on Ethereum, SOL on Solana, and more. These don't work directly as perp collateral, though: any non-quote asset has to be sold into USDC first before it functions as margin for a perpetual position.

Step 3: Place a small first trade

Once funded, consider starting with a small limit order on a major, liquid pair rather than sizing into a market order. A limit order lets you control the exact price you enter at, which is one basic form of risk control.

Hyperliquid supports both isolated and cross margin. Isolated margin caps potential losses on a position to the margin assigned to it rather than your full account balance — the more cautious choice for a first trade. Starting at low leverage similarly limits how far the market can move against you before liquidation. None of this is a recommendation to trade; it's a description of the settings available so you can practice managing risk deliberately rather than by accident.

Step 4: Withdrawing

USDC withdrawals from Hyperliquid are sent to Arbitrum and carry a flat $1 fee, with no separate gas charge to the user. See our deposit and withdrawal guide for the full process.

Fees

Hyperliquid's base trading fees are 0.045% for taker orders and 0.015% for maker orders — see our fees breakdown for how these scale with volume. Using a referral code applies a 4% discount on trading fees; details are in our referral guide.

FAQ

Do I need KYC to trade on Hyperliquid?

No. You can connect with just an email or a wallet, with no identity verification step in the flow described above. See our KYC guide for what this means for account access.

Can US residents use Hyperliquid?

No. Hyperliquid does not permit access to US residents.

What does a withdrawal cost?

A flat $1, charged when you withdraw to Arbitrum, with no additional gas fee.

Risk warning: leveraged derivatives on unregulated platforms — you can lose everything you deposit. Not investment advice.

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