How This Guide Works
Hyperliquid is a decentralized exchange for crypto perpetual trading where you do not need to create an account, pass KYC, or wait for approval.
You connect a wallet, fund it, and start trading.
This guide explains the full process step by step.
If you want the fastest way to start: → use the Quick Start
If you want to understand each step and avoid mistakes: follow this guide.
Step 1 - Set up your wallet
On Hyperliquid, you do not create an account. Your wallet acts as your account.
The simplest way to start is using email login. A wallet is created for you automatically, and you can export it later if needed.
If you prefer full control from the beginning, use a browser wallet like MetaMask or Rabby. Setting one up takes just a couple of minutes.
Step 2 - Get USDC
Hyperliquid uses USDC for trading, so you need to fund your wallet with it.
The most common way is to buy USDC on an exchange like Coinbase, Binance, or Kraken and send it to your wallet.
If working with wallets and networks feels complicated, the easiest option is to fund your account directly with a bank card.
If you already hold crypto, you can also move it and convert into USDC as part of the process.
Step 3 - Connect to Hyperliquid and deposit
Once your wallet is ready, connect it to Hyperliquid.
After connecting, deposit your USDC and make it available for trading.
The first deposit may include a one-time approval, followed by the actual transaction confirmation. Funds usually arrive quickly.
Your funds must be on Arbitrum One. If your USDC is on another network, it will not appear until moved to Arbitrum.
If you are unsure, the simplest option is to fund your account directly with a card.
Your funds remain under your control, and you can withdraw them back to your wallet at any time.
Step 4 - Understand the trading screen
Once funded, you will see Hyperliquid's trading interface.
At first it may look complex, but you only need a few elements to start:
- market selector (what you trade)
- order panel (where you open a position)
- positions panel (your trades and profit/loss)
You do not need to understand everything right away. Focus on these core elements and ignore the rest for now.
The trading screen may look similar to a centralized exchange, but Hyperliquid works very differently behind the scenes.
If you want to understand the mental model before going deeper: → Hyperliquid: Overview & Positioning
Step 5 - Place your first trade
Your first trade should be simple.
Most beginners start with BTC or ETH because they are more liquid and easier to follow.
When opening a position, you make a few key decisions:
Direction
- Long: you profit if the price goes up
- Short: you profit if the price goes down
Leverage
Leverage increases both potential profit and risk.
Starting with low leverage (2x-3x) makes positions easier to manage.
Position size
This determines how much capital you put into the trade. Smaller positions are safer while learning.
Execution
- Market: executes instantly
- Limit: executes at your chosen price
Before opening a trade, check the liquidation price.
This is the level where your position would be automatically closed if the market moves against you.
If it feels too close, reduce your leverage or position size.
Step 6 - Avoid common beginner mistakes
Most losses come from simple mistakes, not complex strategies.
A few basic rules help a lot:
- start with small positions
- avoid high leverage early
- use stop losses
- do not keep more funds deposited than necessary
Your first trades are not about maximizing profit. They are about understanding how the system works.
You are ready to trade
The full flow is simple:
wallet -> USDC -> connect -> deposit -> trade
You can now open Hyperliquid and follow the process.
If you want a condensed version you can keep open while setting things up:
If you want to go deeper
Or continue with
Crypto Exchanges Without KYC