Hyperliquid is a decentralized perpetual exchange built on a custom Layer 1 blockchain. It uses a fully on-chain order book to deliver CEX-level matching speed (0.2s blocks, 200K+ TPS) while keeping self-custody, no-KYC and full on-chain transparency.
Hyperliquid is self-custodial — your funds always stay in your own wallet and the platform never custodies user assets. All orders, fills and fund movements are on-chain and verifiable. Unlike centralized exchanges, Hyperliquid cannot lose your funds through a hack or exit scam. Note that crypto trading carries market risk; please invest responsibly.
No. Hyperliquid requires no KYC. Connect an EVM wallet (like MetaMask) and start trading without submitting any identity documents or personal information.
Referral code ZIYOU is a Hyperliquid referral code. After signing up, enter ZIYOU in the settings or referral page to bind it and earn trading rebates; your referrer also earns a share of your fees. We recommend binding before your first deposit, as referral codes usually cannot be changed once bound.
Hyperliquid charges zero gas fees on trades, with industry-leading maker/taker rates. Exact rates vary by pair and tier, and staking the HYPE token unlocks additional fee discounts. Refer to the official Hyperliquid page for the latest rates.
Hyperliquid supports EVM-compatible wallets including MetaMask, WalletConnect, Trust Wallet, Coinbase Wallet, Ledger and Trezor. You can also sign in with an email and Hyperliquid will auto-generate an on-chain wallet for you.
Deposit USDC via Hyperliquid's native bridge (powered by deBridge). Supported source chains include Ethereum, Arbitrum, Optimism, Base and Solana. We recommend depositing from a Layer 2 like Arbitrum or Optimism to save on gas; deposits usually settle in 2–10 minutes.
Hyperliquid perpetuals support up to 50x leverage, with both Isolated and Cross margin modes. High leverage multiplies both gains and risk — beginners should start with low leverage (2–5x).
Hyperliquid supports market, limit, stop loss, take profit, TWAP (time-weighted average price) and Scale orders — a professional suite comparable to top centralized exchanges.
HYPE is Hyperliquid's native token. Its main uses are: staking for trading fee discounts, voting on protocol governance, and earning a share of protocol revenue. You can buy HYPE on Hyperliquid or other exchanges.
Vaults are Hyperliquid's yield products. You deposit USDC into a vault managed by a professional strategy to earn passive yield. All operations are on-chain and transparent, with verifiable profit distribution. You can deposit and withdraw at any time, though some vaults may have lock-up periods.
The funding rate is a perpetual futures mechanism that anchors the perpetual price to spot, settled every 8 hours. When the perpetual price is above spot, longs pay shorts; when below, shorts pay longs. Funding continuously affects holding costs, so keep an eye on it for long-term positions.
Go to the wallet page, choose Withdraw, select the destination chain, enter the withdrawal address and USDC amount, and confirm the wallet transaction. Withdrawals go through the native bridge; settlement time depends on the destination chain, usually from a few minutes to tens of minutes.
Hyperliquid uses a fully on-chain order book (dYdX uses an off-chain order book, GMX uses an AMM), offering richer order types and lower slippage. Hyperliquid requires no KYC and is self-custodial. Hyperliquid supports up to 50x leverage, dYdX around 20x, and GMX up to 100x. Overall, Hyperliquid strikes a better balance between performance and decentralization.
Hyperliquid does not have a native mobile app, but its web interface is mobile-optimized. You can trade directly from a mobile browser at app.hyperliquid.xyz, and connect a mobile wallet via WalletConnect.