With the rise of decentralized perpetual exchanges, Hyperliquid has positioned itself as a frontrunner for professional-grade, on-chain trading. Whether you’re looking to explore Hyperliquid crypto, acquire the Hyperliquid token (HYPE), or actively trade on the platform, this guide will walk you through everything from how to buy Hyperliquid to how to trade on Hyperliquid.
What Is Hyperliquid?
Hyperliquid is a decentralized, high-performance trading platform built on its own custom Layer-1 blockchain (Hyperliquid L1). It offers perpetual futures on over 100 markets, zero gas fees, low latency, and features that rival the top centralized exchanges — all while keeping funds in your control.
How to Buy Hyperliquid Token (HYPE)?
The Hyperliquid token, often referred to as HYPE, is central to the ecosystem. While it’s not yet available on every major exchange, here’s how to buy it:
Step-by-Step: How to Buy Hyperliquid Token
- Check Supported Exchanges
As of 2025, HYPE may be available on decentralized platforms, like Hyperliquid itself or DEX aggregators such as GMGN or BullX. - Connect Your Wallet
Use a supported Web3 wallet (e.g., MetaMask, Hyperliquid wallet app, or Rabby). Make sure you’re connected to Arbitrum if you’re using bridge access, or directly to Hyperliquid L1 if using the native trading environment. - Bridge Funds
If purchasing on the Hyperliquid platform, you’ll likely need to bridge USDC or ETH to Hyperliquid from Arbitrum or Ethereum using Hyperliquid’s native bridge. - Buy via Hyperliquid or Supported DEX
Once funds are on Hyperliquid, use the spot trading interface (currently in beta) to purchase HYPE. Alternatively, buy HYPE on supported DEXes and transfer it to your wallet. - Store Safely
Store HYPE in your Hyperliquid wallet or a compatible wallet with support for Hyperliquid L1 tokens.
How to Trade on Hyperliquid
Whether you’re a day trader or a professional market maker, trading on Hyperliquid is fast, intuitive, and packed with advanced features.
1. Supported Markets
Hyperliquid offers over 100 perpetual markets, including:
- Major cryptocurrencies: BTC, ETH, SOL, BNB
- DeFi tokens: UNI, AAVE, DYDX
- Cross-chain assets and selected forex pairs
There is no spot trading in the traditional sense, but recently, spot functionality is being gradually rolled out for ETH and BTC.
2. Trading Fees on Hyperliquid
Hyperliquid boasts some of the lowest trading fees in the decentralized exchange space:
- Taker Fee: 0.045%
- Maker Fee: 0.015%
- High-volume users qualify for tiered discounts or even maker rebates
- Zero gas fees for trades and order placements — unlike Ethereum-based DEXs
This makes Hyperliquid ideal for high-frequency trading, scalping, and algorithmic strategies.
3. Leverage and Margin
Hyperliquid supports up to 50× leverage on most major assets. Some assets may be capped at lower levels depending on volatility. Users benefit from cross-margin accounts, and subaccounts can be used for isolated margin-like behavior.
4. Deposit and Withdrawal
Depositing and withdrawing funds on Hyperliquid is seamless:
- Deposits: USDC (via Arbitrum), BTC (via Bitcoin bridge), ETH (now supported for spot)
- Withdrawals: Flat $1 fee; sent back to your wallet on Arbitrum or Bitcoin
- No third-party custodians involved
5. Chains Supported
Hyperliquid runs on its own Hyperliquid L1 chain, which is custom-built for trading:
- High throughput (sub-second finality)
- Gasless for all trading actions
- Bridges supported: Arbitrum (USDC), Bitcoin (BTC), Ethereum (ETH for spot)
6. Trading Tools and Order Types
Hyperliquid offers a professional-grade suite of trading tools:
- Central limit order book with real-time matching
- Order Types:
- Market
- Limit
- Stop-loss
- Take-profit
- TWAP
- Scale orders
Hyperliquid also offers an API (WebSocket & REST) for developers and quants.
7. Interface and User Experience
The interface is designed for performance and precision:
- Resembles Binance or Bybit with fully modular layout
- Displays real-time order books, depth charts, and funding rates
- Users can toggle between spot, perp, and portfolio views
Hyperliquid also supports subaccounts, useful for fund managers and strategy separation.
8. Mobile Support
Hyperliquid offers a dedicated mobile wallet app on iOS and Android, which includes:
Bonus: Hyperliquid Airdrop & Token Utility
Hyperliquid previously distributed HYPE through an airdrop to active traders. Token holders may gain access to:
- Trading fee discounts
- Staking and governance rights
- Rewards based on volume and liquidity contribution
Check your eligibility through the Hyperliquid airdrop claim portal.
Final Thoughts
Hyperliquid is pushing the boundaries of what a decentralized trading platform can offer. With gasless trading, deep perpetual markets, and institutional-grade features, it offers the best of both worlds: performance and self-custody.
