Crypto Perpetual Futures
Trade BTC, ETH, SOL, HYPE, and 100+ other crypto perps with deep on-chain liquidity.
Hyperliquid is one of the largest decentralized perp DEXs, with leading liquidity for major crypto perpetuals plus a long tail of L1, L2, DeFi, meme, and AI tokens. Every trade settles on the Hyperliquid L1 chain, with no centralized custodian holding your funds.
All crypto perpetuals on Hyperliquid
| Deployer | |||||||
|---|---|---|---|---|---|---|---|
Bitcoin BTC | Hyperliquid | $59,996 | +0.23% | $1.0B | -0.0001% | 40x | Trade |
Hyperliquid HYPE | Hyperliquid | $62.1 | -2.75% | $244M | +0.0013% | 10x | Trade |
Ethereum ETH | Hyperliquid | $1,570 | -0.15% | $240M | -0.0006% | 25x | Trade |
Solana SOL | Hyperliquid | $70.53 | -1.52% | $180M | -0.0016% | 20x | Trade |
ZEC ZEC | Hyperliquid | $396.43 | -5.74% | $48M | +0.0013% | 10x | Trade |
XRP XRP | Hyperliquid | $1.05 | +0.48% | $34M | -0.0017% | 20x | Trade |
Aave AAVE | Hyperliquid | $93.31 | -0.34% | $28M | +0.0013% | 10x | Trade |
Sui SUI | Hyperliquid | $0.68145 | -2.01% | $23M | -0.0025% | 10x | Trade |
NEAR Protocol NEAR | Hyperliquid | $1.87 | +4.91% | $23M | +0.0013% | 10x | Trade |
PUMP PUMP | Hyperliquid | $0.001383 | +3.29% | $17M | +0.0013% | 10x | Trade |
WLD WLD | Hyperliquid | $0.45147 | -3.18% | $15M | +0.0011% | 10x | Trade |
XPL XPL | Hyperliquid | $0.10137 | -1.78% | $9.3M | +0.0013% | 10x | Trade |
JTO JTO | Hyperliquid | $0.8307 | -0.20% | $8.6M | +0.0013% | 5x | Trade |
LIT LIT | Hyperliquid | $1.73 | -4.04% | $8.4M | +0.0063% | 5x | Trade |
Avalanche AVAX | Hyperliquid | $6.35 | -0.47% | $6.1M | -0.0019% | 10x | Trade |
FARTCOIN FARTCOIN | Hyperliquid | $0.1287 | +1.33% | $5.6M | +0.0013% | 10x | Trade |
Cardano ADA | Hyperliquid | $0.14429 | -1.72% | $4.9M | -0.0062% | 10x | Trade |
KPEPE KPEPE | Hyperliquid | $0.002366 | -0.17% | $4.4M | -0.0048% | 10x | Trade |
Dogecoin DOGE | Hyperliquid | $0.074372 | -1.37% | $4.3M | -0.0003% | 10x | Trade |
S S | Hyperliquid | $0.022021 | +9.54% | $4.3M | -0.0168% | 5x | Trade |
BNB BNB | Hyperliquid | $556.25 | -1.92% | $4.1M | -0.0011% | 10x | Trade |
JUP JUP | Hyperliquid | $0.21978 | -3.36% | $3.7M | -0.0004% | 10x | Trade |
Bittensor TAO | Hyperliquid | $208.61 | -2.13% | $3.6M | +0.0006% | 5x | Trade |
dogwifhat WIF | Hyperliquid | $0.16727 | +9.68% | $3.6M | +0.0013% | 5x | Trade |
TRUMP TRUMP | Hyperliquid | $1.65 | -2.40% | $3.4M | -0.0074% | 10x | Trade |
SYRUP SYRUP | Hyperliquid | $0.143 | +6.33% | $3.3M | +0.0013% | 3x | Trade |
VVV VVV | Hyperliquid | $13.45 | +0.07% | $3.1M | +0.0013% | 3x | Trade |
MORPHO MORPHO | Hyperliquid | $1.74 | +0.15% | $3.0M | +0.0013% | 5x | Trade |
GMT GMT | Hyperliquid | $0.007446 | -0.11% | $2.9M | -0.0036% | 3x | Trade |
LINK LINK | Hyperliquid | $7.28 | -0.30% | $2.8M | +0.0013% | 10x | Trade |
XMR XMR | Hyperliquid | $312.06 | -3.47% | $2.6M | +0.0013% | 5x | Trade |
ENA ENA | Hyperliquid | $0.076806 | -2.74% | $2.4M | +0.0013% | 10x | Trade |
IP IP | Hyperliquid | $0.31084 | -1.80% | $2.2M | +0.0200% | 3x | Trade |
INJ INJ | Hyperliquid | $4.71 | -1.56% | $2.2M | -0.0037% | 5x | Trade |
GRASS GRASS | Hyperliquid | $0.4968 | +2.44% | $2.2M | +0.0013% | 3x | Trade |
Uniswap UNI | Hyperliquid | $2.93 | -1.22% | $2.0M | +0.0013% | 10x | Trade |
Fetch.ai FET | Hyperliquid | $0.17226 | -0.32% | $1.9M | +0.0013% | 5x | Trade |
MON MON | Hyperliquid | $0.018791 | -2.06% | $1.8M | -0.0080% | 5x | Trade |
DYDX DYDX | Hyperliquid | $0.15156 | -3.30% | $1.8M | +0.0013% | 5x | Trade |
CHIP CHIP | Hyperliquid | $0.029757 | +3.24% | $1.6M | +0.0013% | 3x | Trade |
Polkadot DOT | Hyperliquid | $0.81079 | -4.45% | $1.5M | +0.0013% | 10x | Trade |
ZRO ZRO | Hyperliquid | $0.77334 | -2.58% | $1.5M | +0.0013% | 5x | Trade |
ONDO ONDO | Hyperliquid | $0.31077 | -1.50% | $1.5M | +0.0013% | 10x | Trade |
ALGO ALGO | Hyperliquid | $0.085096 | +3.17% | $1.5M | +0.0013% | 5x | Trade |
KAITO KAITO | Hyperliquid | $0.56063 | +9.71% | $1.5M | -0.0001% | 5x | Trade |
MET MET | Hyperliquid | $0.17232 | +8.45% | $1.5M | +0.0013% | 3x | Trade |
PENGU PENGU | Hyperliquid | $0.006139 | +0.15% | $1.4M | -0.0001% | 5x | Trade |
LTC LTC | Hyperliquid | $42.02 | +0.61% | $1.4M | +0.0013% | 10x | Trade |
EIGEN EIGEN | Hyperliquid | $0.2349 | +6.97% | $1.4M | +0.0013% | 5x | Trade |
Aptos APT | Hyperliquid | $0.5804 | -2.45% | $1.2M | -0.0024% | 10x | Trade |
XLM XLM | Hyperliquid | $0.17319 | -2.54% | $1.2M | -0.0012% | 5x | Trade |
Arbitrum ARB | Hyperliquid | $0.07323 | -0.69% | $1.2M | -0.0003% | 10x | Trade |
Curve CRV | Hyperliquid | $0.1905 | -1.04% | $1.1M | -0.0004% | 10x | Trade |
WLFI WLFI | Hyperliquid | $0.057194 | -0.76% | $966k | -0.0059% | 5x | Trade |
BCH BCH | Hyperliquid | $195.54 | -0.95% | $927k | -0.0021% | 10x | Trade |
PAXG PAXG | Hyperliquid | $4,073.3 | -0.10% | $923k | +0.0013% | 10x | Trade |
TIA TIA | Hyperliquid | $0.3702 | -1.47% | $856k | +0.0010% | 5x | Trade |
BERA BERA | Hyperliquid | $0.21071 | +3.82% | $816k | +0.0013% | 5x | Trade |
ASTER ASTER | Hyperliquid | $0.6216 | -1.27% | $799k | +0.0013% | 5x | Trade |
VIRTUAL VIRTUAL | Hyperliquid | $0.53171 | +1.14% | $797k | +0.0013% | 5x | Trade |
TRX TRX | Hyperliquid | $0.32047 | +0.10% | $797k | -0.0025% | 10x | Trade |
MANTA MANTA | Hyperliquid | $0.0835 | -1.68% | $791k | +0.0013% | 3x | Trade |
RESOLV RESOLV | Hyperliquid | $0.020361 | -4.60% | $746k | +0.0013% | 3x | Trade |
APE APE | Hyperliquid | $0.13781 | -6.66% | $741k | +0.0013% | 5x | Trade |
SPX SPX | Hyperliquid | $0.34028 | +3.98% | $733k | +0.0013% | 5x | Trade |
ETHFI ETHFI | Hyperliquid | $0.34837 | -2.12% | $729k | +0.0013% | 5x | Trade |
Synthetix SNX | Hyperliquid | $0.22903 | +14.91% | $711k | -0.0143% | 3x | Trade |
0G 0G | Hyperliquid | $0.24369 | +12.66% | $703k | -0.0600% | 3x | Trade |
SEI SEI | Hyperliquid | $0.050377 | -5.14% | $689k | +0.0013% | 5x | Trade |
KSHIB KSHIB | Hyperliquid | $0.004206 | -0.17% | $685k | -0.0049% | 10x | Trade |
PENDLE PENDLE | Hyperliquid | $1.23 | -2.70% | $635k | +0.0013% | 5x | Trade |
RENDER RENDER | Hyperliquid | $1.56 | +0.56% | $590k | +0.0013% | 5x | Trade |
GRIFFAIN GRIFFAIN | Hyperliquid | $0.009317 | +7.56% | $588k | +0.0223% | 3x | Trade |
KBONK KBONK | Hyperliquid | $0.004136 | -0.84% | $588k | +0.0006% | 10x | Trade |
AERO AERO | Hyperliquid | $0.46336 | -2.19% | $562k | +0.0013% | 3x | Trade |
W W | Hyperliquid | $0.00969 | -7.98% | $552k | +0.0013% | 5x | Trade |
STBL STBL | Hyperliquid | $0.025824 | +9.01% | $521k | +0.0013% | 3x | Trade |
BIO BIO | Hyperliquid | $0.028676 | -1.06% | $521k | -0.0013% | 3x | Trade |
SUSHI SUSHI | Hyperliquid | $0.15097 | +2.35% | $511k | +0.0013% | 3x | Trade |
BLUR BLUR | Hyperliquid | $0.014477 | -1.94% | $509k | +0.0013% | 3x | Trade |
FOGO FOGO | Hyperliquid | $0.010316 | -9.41% | $498k | +0.0013% | 3x | Trade |
POL POL | Hyperliquid | $0.070556 | -1.06% | $489k | +0.0012% | 5x | Trade |
MEGA MEGA | Hyperliquid | $0.045462 | -1.95% | $468k | +0.0013% | 3x | Trade |
BSV BSV | Hyperliquid | $12.46 | +10.29% | $463k | -0.0034% | 3x | Trade |
Lido LDO | Hyperliquid | $0.24431 | -1.28% | $445k | +0.0010% | 5x | Trade |
ENS ENS | Hyperliquid | $4.16 | -0.33% | $444k | +0.0013% | 5x | Trade |
Starknet STRK | Hyperliquid | $0.02853 | -0.42% | $417k | -0.0036% | 5x | Trade |
IO IO | Hyperliquid | $0.1739 | -5.33% | $409k | +0.0013% | 3x | Trade |
FIL FIL | Hyperliquid | $0.72673 | -1.95% | $395k | -0.0017% | 5x | Trade |
MOODENG MOODENG | Hyperliquid | $0.039398 | -0.45% | $378k | -0.0032% | 3x | Trade |
STABLE STABLE | Hyperliquid | $0.037838 | +1.46% | $373k | -0.0168% | 3x | Trade |
ICP ICP | Hyperliquid | $2.14 | -2.45% | $372k | +0.0008% | 5x | Trade |
BTC BTC | hyna | $60,016 | +0.18% | $371k | +0.0009% | 40x | Trade |
SKY SKY | Hyperliquid | $0.0494 | -0.96% | $346k | +0.0013% | 3x | Trade |
SKR SKR | Hyperliquid | $0.00852 | -2.54% | $346k | +0.0013% | 3x | Trade |
LAYER LAYER | Hyperliquid | $0.066408 | +2.23% | $341k | +0.0013% | 3x | Trade |
Optimism OP | Hyperliquid | $0.10045 | -4.60% | $335k | -0.0070% | 5x | Trade |
GOAT GOAT | Hyperliquid | $0.012704 | -2.20% | $333k | +0.0013% | 3x | Trade |
CAKE CAKE | Hyperliquid | $1.32 | -1.35% | $329k | +0.0013% | 3x | Trade |
ETH ETH | hyna | $1,570.5 | -0.23% | $315k | +0.0002% | 25x | Trade |
HYPER HYPER | Hyperliquid | $0.077987 | -4.79% | $305k | +0.0013% | 3x | Trade |
DASH DASH | Hyperliquid | $33 | -3.66% | $300k | +0.0013% | 5x | Trade |
AIXBT AIXBT | Hyperliquid | $0.018199 | -6.59% | $299k | -0.0056% | 3x | Trade |
HBAR HBAR | Hyperliquid | $0.071803 | +1.30% | $297k | -0.0001% | 5x | Trade |
Cosmos ATOM | Hyperliquid | $1.56 | -1.62% | $286k | +0.0012% | 5x | Trade |
KAS KAS | Hyperliquid | $0.027751 | -1.01% | $276k | +0.0013% | 3x | Trade |
PURR PURR | Hyperliquid | $0.08621 | -3.38% | $275k | +0.0013% | 3x | Trade |
AVNT AVNT | Hyperliquid | $0.093669 | +0.02% | $271k | -0.0033% | 5x | Trade |
Popcat POPCAT | Hyperliquid | $0.043989 | -1.81% | $265k | -0.0060% | 3x | Trade |
Peanut the Squirrel PNUT | Hyperliquid | $0.04065 | -2.45% | $263k | +0.0010% | 3x | Trade |
CELO CELO | Hyperliquid | $0.062332 | +4.99% | $240k | +0.0013% | 3x | Trade |
ETC ETC | Hyperliquid | $7.12 | -1.47% | $236k | +0.0008% | 5x | Trade |
KNEIRO KNEIRO | Hyperliquid | $0.05979 | -2.84% | $233k | -0.0041% | 3x | Trade |
MNT MNT | Hyperliquid | $0.43659 | -0.15% | $225k | +0.0013% | 5x | Trade |
MERL MERL | Hyperliquid | $0.018654 | -1.83% | $222k | +0.0013% | 3x | Trade |
GMX GMX | Hyperliquid | $5.4 | -3.33% | $218k | +0.0013% | 3x | Trade |
HYPE HYPE | hyna | $62.11 | -2.83% | $216k | +0.0008% | 10x | Trade |
POLYX POLYX | Hyperliquid | $0.03505 | +2.01% | $211k | +0.0013% | 3x | Trade |
HMSTR HMSTR | Hyperliquid | $0.000184 | +3.95% | $205k | +0.0013% | 3x | Trade |
LINEA LINEA | Hyperliquid | $0.002276 | -1.68% | $202k | +0.0013% | 3x | Trade |
TNSR TNSR | Hyperliquid | $0.03523 | -9.04% | $200k | +0.0013% | 3x | Trade |
PYTH PYTH | Hyperliquid | $0.033358 | -2.33% | $189k | +0.0013% | 5x | Trade |
ZORA ZORA | Hyperliquid | $0.007155 | -0.29% | $188k | -0.0190% | 3x | Trade |
BRETT BRETT | Hyperliquid | $0.005204 | -0.08% | $180k | +0.0013% | 3x | Trade |
AR AR | Hyperliquid | $1.82 | -2.22% | $172k | +0.0013% | 5x | Trade |
KLUNC KLUNC | Hyperliquid | $0.060604 | -5.56% | $156k | -0.0050% | 3x | Trade |
INIT INIT | Hyperliquid | $0.052447 | -4.46% | $156k | +0.0013% | 3x | Trade |
IMX IMX | Hyperliquid | $0.12225 | -1.20% | $153k | +0.0012% | 5x | Trade |
ZK ZK | Hyperliquid | $0.01008 | -3.11% | $142k | -0.0044% | 5x | Trade |
ORDI ORDI | Hyperliquid | $3.09 | -2.45% | $141k | +0.0013% | 3x | Trade |
CC CC | Hyperliquid | $0.15286 | +0.82% | $135k | +0.0013% | 3x | Trade |
YGG YGG | Hyperliquid | $0.022394 | -0.95% | $134k | +0.0013% | 3x | Trade |
NIL NIL | Hyperliquid | $0.033334 | -2.61% | $132k | +0.0013% | 3x | Trade |
SUPER SUPER | Hyperliquid | $0.085151 | -1.03% | $125k | +0.0013% | 3x | Trade |
MELANIA MELANIA | Hyperliquid | $0.07397 | -1.66% | $124k | +0.0013% | 3x | Trade |
ALT ALT | Hyperliquid | $0.005649 | -0.72% | $122k | +0.0013% | 3x | Trade |
AXS AXS | Hyperliquid | $0.96831 | -3.24% | $120k | -0.0013% | 5x | Trade |
PEOPLE PEOPLE | Hyperliquid | $0.005046 | -2.68% | $118k | +0.0013% | 3x | Trade |
ANIME ANIME | Hyperliquid | $0.002612 | -0.61% | $118k | +0.0013% | 3x | Trade |
KFLOKI KFLOKI | Hyperliquid | $0.021568 | -2.07% | $117k | +0.0000% | 5x | Trade |
PROVE PROVE | Hyperliquid | $0.19226 | +1.44% | $116k | -0.0060% | 3x | Trade |
HEMI HEMI | Hyperliquid | $0.004489 | -3.30% | $113k | +0.0013% | 3x | Trade |
STX STX | Hyperliquid | $0.16775 | -0.43% | $111k | -0.0019% | 5x | Trade |
ME ME | Hyperliquid | $0.05919 | -0.52% | $107k | -0.0089% | 3x | Trade |
Compound COMP | Hyperliquid | $15.73 | -1.60% | $105k | +0.0013% | 5x | Trade |
SAGA SAGA | Hyperliquid | $0.01288 | -2.05% | $103k | +0.0013% | 3x | Trade |
RUNE RUNE | Hyperliquid | $0.392 | -1.90% | $102k | +0.0013% | 5x | Trade |
NXPC NXPC | Hyperliquid | $0.26684 | -2.07% | $102k | +0.0008% | 3x | Trade |
SAND SAND | Hyperliquid | $0.046885 | -0.26% | $100k | +0.0013% | 5x | Trade |
IOTA IOTA | Hyperliquid | $0.03733 | -2.78% | $99k | -0.0019% | 3x | Trade |
MEME MEME | Hyperliquid | $0.000522 | +0.19% | $96k | +0.0013% | 3x | Trade |
BABY BABY | Hyperliquid | $0.012924 | -2.27% | $92k | -0.0060% | 3x | Trade |
SOL SOL | hyna | $70.56 | -1.38% | $88k | +0.0013% | 20x | Trade |
ZETA ZETA | Hyperliquid | $0.03547 | -0.87% | $84k | +0.0010% | 3x | Trade |
ZEN ZEN | Hyperliquid | $4.04 | -2.27% | $84k | +0.0013% | 5x | Trade |
2Z 2Z | Hyperliquid | $0.063362 | -2.55% | $83k | +0.0013% | 3x | Trade |
SOPH SOPH | Hyperliquid | $0.004739 | -0.34% | $82k | +0.0013% | 3x | Trade |
APEX APEX | Hyperliquid | $0.27336 | -1.39% | $77k | +0.0013% | 3x | Trade |
CFX CFX | Hyperliquid | $0.042025 | -2.18% | $76k | +0.0013% | 5x | Trade |
TURBO TURBO | Hyperliquid | $0.000802 | +0.12% | $73k | +0.0001% | 3x | Trade |
GALA GALA | Hyperliquid | $0.002255 | -3.38% | $72k | +0.0013% | 3x | Trade |
NEO NEO | Hyperliquid | $1.9 | -1.92% | $72k | +0.0013% | 5x | Trade |
GAS GAS | Hyperliquid | $1.02 | -0.08% | $66k | +0.0013% | 3x | Trade |
BIGTIME BIGTIME | Hyperliquid | $0.007437 | -3.48% | $65k | +0.0013% | 3x | Trade |
MOVE MOVE | Hyperliquid | $0.01106 | -0.62% | $65k | +0.0013% | 3x | Trade |
TRB TRB | Hyperliquid | $13.3 | -0.11% | $60k | +0.0013% | 3x | Trade |
DYM DYM | Hyperliquid | $0.01479 | -3.65% | $59k | +0.0013% | 3x | Trade |
WCT WCT | Hyperliquid | $0.042065 | +0.86% | $56k | +0.0013% | 3x | Trade |
MINA MINA | Hyperliquid | $0.038218 | -2.66% | $55k | +0.0013% | 3x | Trade |
ACE ACE | Hyperliquid | $0.0733 | -3.17% | $53k | +0.0013% | 3x | Trade |
1000PEPE 1000PEPE | hyna | $0.002365 | -0.92% | $43k | -0.0117% | 10x | Trade |
XAI XAI | Hyperliquid | $0.00699 | -3.19% | $43k | -0.0046% | 3x | Trade |
REZ REZ | Hyperliquid | $0.002931 | -3.39% | $41k | +0.0013% | 3x | Trade |
NOT NOT | Hyperliquid | $0.000383 | +0.26% | $38k | -0.0066% | 3x | Trade |
AZTEC AZTEC | Hyperliquid | $0.01292 | -2.53% | $35k | +0.0013% | 3x | Trade |
BANANA BANANA | Hyperliquid | $2.64 | -2.25% | $31k | +0.0013% | 3x | Trade |
BASED BASED | hyna | $0.072796 | +8.89% | $26k | +0.0035% | 3x | Trade |
UMA UMA | Hyperliquid | $0.38246 | -0.61% | $26k | +0.0013% | 3x | Trade |
VINE VINE | Hyperliquid | $0.010256 | -2.45% | $25k | +0.0013% | 3x | Trade |
BOME BOME | Hyperliquid | $0.000397 | -3.17% | $24k | +0.0013% | 3x | Trade |
RSR RSR | Hyperliquid | $0.001172 | -1.51% | $23k | -0.0009% | 3x | Trade |
IP IP | hyna | $0.31007 | -2.81% | $21k | +0.0090% | 3x | Trade |
XRP XRP | hyna | $1.05 | -1.00% | $21k | +0.0013% | 20x | Trade |
USUAL USUAL | Hyperliquid | $0.00864 | -2.92% | $19k | +0.0000% | 3x | Trade |
ZEC ZEC | hyna | $396.57 | -5.77% | $15k | +0.0058% | 10x | Trade |
LTC LTC | hyna | $42.06 | -1.55% | $11k | +0.0013% | 10x | Trade |
LIGHTER LIGHTER | hyna | $1.73 | -3.65% | $10k | +0.0029% | 5x | Trade |
PUMP PUMP | hyna | $0.001382 | +2.98% | $8.8k | +0.0025% | 10x | Trade |
BNB BNB | hyna | $556.64 | -1.93% | $5.2k | +0.0013% | 10x | Trade |
TOTAL2 TOTAL2 | para | $846.67 | -0.61% | $4.2k | +0.0041% | 20x | Trade |
BTCD BTCD | para | $58.66 | +0.04% | $3.4k | -0.0012% | 20x | Trade |
FARTCOIN FARTCOIN | hyna | $0.12866 | -2.78% | $1.9k | +0.0077% | 10x | Trade |
ADA ADA | hyna | $0.14443 | -2.68% | $1.0k | -0.0002% | 10x | Trade |
OTHERS OTHERS | para | $157.28 | -0.67% | $524 | +0.0056% | 10x | Trade |
XMR XMR | hyna | $312.01 | -2.54% | $463 | -0.0040% | 5x | Trade |
DOGE DOGE | hyna | $0.074407 | -2.34% | $333 | +0.0013% | 10x | Trade |
LINK LINK | hyna | $7.28 | -0.93% | $162 | +0.0013% | 10x | Trade |
SUI SUI | hyna | $0.68187 | -2.59% | $85 | +0.0013% | 10x | Trade |
ENA ENA | hyna | $0.076901 | -1.94% | $38 | +0.0013% | 10x | Trade |
XPL XPL | hyna | $0.10148 | -1.24% | $11 | +0.0013% | 10x | Trade |
BCH BCH | hyna | $195.56 | +2.66% | $0 | -0.0025% | 10x | Trade |
How crypto perpetuals work
When you open a perpetual position you don't take delivery of the underlying asset. You're posting margin against a contract whose price tracks the underlying. Profits and losses are settled in USDC on Hyperliquid as the price moves.
Hyperliquid runs a fully on-chain order book with sub-second matching. Every trade, fill, and funding payment is verifiable on the Hyperliquid L1 chain. There are no off-chain matching engines, no withdrawal queues, and no custodian holding your funds.
Liquidiction routes orders through Hyperliquid as a builder code, which means you sign trades from your own wallet and Hyperliquid charges a small builder fee on close. Funding is paid hourly. Liquidations occur if your margin falls below the maintenance threshold.
