Learn Hyperliquid without guessing which numbers are still true.
Every fee, tier, limit and market figure on this site is read from the Hyperliquid documentation and the exchange's public API, then stamped with the date it was checked. Start at your first deposit and go as far as building a bot.
Disclosure: we earn a commission from Hyperliquid at no cost to you. The discount covers your first $25M of volume and only works if applied before your first trade. Exact terms.
- Perp markets 178 live, delisted excluded
- 24h perp volume $5.11B across all markets
- Open interest $11B sum of all positions
- Max leverage 40x on BTC
- Taker fee, tier 0 0.045% 0.0432% with our link
Read from the Hyperliquid public API at 8 Sept 2026, 18:17 UTC. See every market
Pick the path that matches what you are trying to do
Each section is a hub with its own guides. If you have never opened the app, start on the left and work across.
Get started
Install a wallet, get USDC onto the right chain, place a first trade and get your money back out again.
Trading mechanics
Order types, leverage limits per market, margin modes, how liquidation is actually calculated, funding.
Fees and discounts
The full tier tables, the staking discounts, the referral discount, and which lever is worth pulling first.
Every market
Live price, funding, open interest and the real maximum leverage for each perpetual, refreshed from the API.
Maximum leverage is 40x, not 50x
The number that circulates in most articles is from an older schedule. Read from the exchange's own metadata a moment ago, the ceiling is 40x, and only on BTC. Nearly every other market is far lower.
| Market | Price | 24h | 24h volume | Open interest | Funding / 1h | Max leverage |
|---|---|---|---|---|---|---|
| BTC | $78,709.00 | -0.53% | $2.24B | $2.7B | 0.00125% | 40x |
| ETH | $2,499.50 | +0.23% | $975.83M | $2.48B | 0.00125% | 25x |
| HYPE | $84.345 | -0.92% | $399.66M | $1.97B | -0.00069% | 10x |
| ZEC | $1,180.80 | +1.76% | $319.06M | $704.18M | 0.00125% | 10x |
| SOL | $104.24 | +0.40% | $143.92M | $585.65M | 0.00078% | 20x |
| PONS | $0.81549 | +12.47% | $116.19M | $122.5M | 0.00125% | 3x |
| PUMP | $0.004419 | +2.36% | $108.62M | $229.74M | 0.00125% | 10x |
| VVV | $23.01 | +30.10% | $77.42M | $53.95M | 0.00881% | 3x |
Latest guides
Straight answers
What is Hyperliquid in one sentence?
Hyperliquid is a decentralised exchange for perpetual futures and spot trading that runs its own layer-1 blockchain, so orders sit in a real on-chain order book while you keep custody of your funds.
Do I need to verify my identity?
No. Hyperliquid has no account form and no identity check. You connect a wallet and sign a one-time approval. Access is limited by region instead: residents of the United States and Ontario, Canada cannot use it.
What does it cost to trade?
A taker order at the entry tier costs 0.045% of notional, and 0.0432% if a referral code is applied before your first trade. Trades themselves pay no gas.
How much leverage can I use?
The highest leverage available today is 40x, on BTC. Most markets are 3x to 10x. Guides that still say 50x are quoting an old schedule.
Is this site run by Hyperliquid?
No. Hyperliquid Academy is independent and unaffiliated. We earn a commission when someone opens an account through our referral link, and we say so on every page that carries one.