Perpetual Futures

Trade BTC, ETH, SOL, and 100+ markets on a fully on-chain CLOB with up to 50× leverage, USDC margin, and sub-second matching.

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Features

Built for serious perp traders

An on-chain matching engine with the latency, depth, and order types you'd expect from a top-tier centralized venue.

Leverage

Up to 50× leverage

Configurable per market with cross or isolated margin modes and full transparency on funding and fees.

Order types

Pro order types

Limit, market, stop, take-profit, scaled, and native TWAP — all settled on-chain.

Latency

Sub-second matching

HyperBFT consensus gives ~0.2s median latency and up to 200,000 orders/sec throughput.

Markets

100+ markets

Majors, alts, AI tokens, memecoins, and pre-launch perps — all USDC-margined.

Self-custody

Self-custody

Sign every order from your own wallet. No deposit address, no centralized custodian.

Funding

Funding rates on-chain

Funding is computed and settled every hour, transparently visible on-chain.

CLOB

A real order book, fully on-chain

Unlike AMM-based perp DEXes, Hyperliquid uses a central limit order book where makers post liquidity and takers execute against the best price.

  • True price-time priority matching
  • Tight spreads on majors (often < 0.5 bps)
  • Deep liquidity contributed by HLP and market makers
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Margin

Cross & isolated margin

Use cross margin to share collateral across all positions, or switch to isolated margin to limit risk to a single market.

  • Adjust leverage per position
  • Real-time margin and liquidation visibility
  • Automatic deleveraging via the insurance fund
USDC

USDC-margined, on-chain settlement

All perps are quoted and settled in USDC. PnL accrues in real time and can be withdrawn back to Arbitrum at any moment.

  • No wrapped tokens or synthetic representations
  • Withdrawals processed in ~5 minutes
  • Transparent insurance fund and liquidations
Market snapshot

Top perpetual markets

MarketMax LeverageMin OrderFunding intervalLiquidity
BTC-USD40×$101hDeep
ETH-USD50×$101hDeep
SOL-USD20×$101hDeep
HYPE-USD10×$101hDeep
DOGE-USD10×$101hMedium
PEPE-USD5×$101hMedium
Exclusive — Hyperliquid Korea

Liquidation price calculator

Plug in your entry price, leverage, and collateral to estimate the price at which your position would be liquidated. Maintenance margin assumed at 0.5%.

Notional position size—
Required margin—
Estimated liquidation price—
Comparison

Hyperliquid Perps vs DEX competition

FeatureHyperliquiddYdX v4GMX v2
Matching engineCLOBCLOBOracle-priced AMM
Max leverage50×20×50×
Markets100+60+~10
Latency~0.2s~1sBlock-time
Gas per orderZeroZeroYes
FAQ

Futures questions

What is the maximum leverage?
Up to 50× on BTC and ETH. Other markets cap between 5× and 40× depending on liquidity.
How is liquidation triggered?
When your account equity falls below the maintenance margin (typically 0.5%–1%), the position is liquidated by the protocol's keeper system.
How often is funding paid?
Funding is calculated continuously and settled every hour, based on the difference between the perp price and the underlying index.
Can I trade with a hardware wallet?
Yes — Ledger and Trezor are supported via MetaMask or Rabby.

Open your first perp position

50× leverage, sub-second matching, fully on-chain.

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