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Getting started on Hyperliquid

Six guides, in the order you actually need them. If you have never opened the app, read them top to bottom and you will be trading in about ten minutes.

First

What is Hyperliquid?

The order book is the blockchain's own state, which is why it feels like a centralised venue while you keep custody.

Walkthrough

How to use Hyperliquid

Eight steps from an empty wallet to an open position with a stop attached.

Create an account

There is no sign-up form. There is one step that expires, and it is worth doing in the right order.

Deposit

More chains work than most guides mention. What arrives as collateral and what has to be sold first.

Withdraw

Why the withdrawable amount is smaller than your balance, and what to check when one looks stuck.

Is it safe?

The risks ranked by what actually costs people money, which is not what most security pages tell you.

The three things that trip people up

  1. A referral code can only be applied before your first trade. After the first fill it is unavailable on that wallet for good. It is worth four percent off your fees, so do it first. The exact terms.
  2. Perps and Spot are separate balances. USDC in Spot cannot back a perpetual position until you transfer it across, which is an in-app move that costs nothing.
  3. The leverage figure in most articles is out of date. The current ceiling is lower than the 50x people quote, and it varies per market. The live table.

All getting-started guides

Fee figures across these guides come from one source that is checked against the published schedule, last verified 8 Sept 2026. Market figures are read from the exchange's public API on every build.