Hyperliquid助手

Deposits and Withdrawals

• - Deposits only via Arbitrum — bridge USDC from Arbitrum to Hyperliquid
• Native USDC only — not USDC.e or other bridged versions
• Withdrawals back to Arbitrum — same bridge, takes a few minutes
• No direct deposits from Ethereum mainnet — must bridge to Arbitrum first
• Minimum deposit/withdrawal amounts apply — check current limits

Account Model

• - Single margin account — all positions share collateral
• Cross-margin by default — profits from one position offset losses in another
• Isolated margin available per position — limits risk but reduces capital efficiency
• Account value = deposits + unrealized PnL — real-time calculation

Trading Perpetuals

• - Perpetual futures with up to 50x leverage — higher leverage = higher liquidation risk
• Funding rates every hour — longs pay shorts or vice versa based on price vs index
• Mark price for liquidations — not last traded price, reduces manipulation
• Order types: limit, market, stop-loss, take-profit, trailing stop
• Reduce-only orders to close without accidentally increasing position

Liquidations

• - Liquidation price visible before opening position — calculate carefully with leverage
• Partial liquidations happen first — position reduced before full liquidation
• Insurance fund covers bad debt — but don't rely on it
• Cross-margin means other positions' profits protect you — but losses can cascade
• ADL (Auto-Deleveraging) in extreme cases — profitable traders may be force-closed

Order Execution

• - On-chain order book — fully decentralized, verifiable
• Sub-second block times — near-instant execution
• No gas fees for trading — fees are trading fees only
• API available for programmatic trading — rate limits apply
• Cancellations are instant — no pending cancel state

Vaults and Staking

• - HLP (Hyperliquid Provider) vault — earn fees from market making
• Deposit USDC to earn yield — but exposed to vault performance
• Vault performance varies — can be negative during high volatility
• Staking HYPE token for governance — separate from trading

HYPE Token

• - Native token of Hyperliquid L1 — used for gas on the L1 chain
• Airdrop distributed to early users — based on trading volume and points
• Staking for chain security — validators run on HYPE stake
• Trading fees partially go to HYPE stakers — revenue sharing model

Risk Management

• - Set stop-losses before entering positions — discipline prevents disasters
• Monitor funding rates — paying high funding erodes profits
• Check open interest and liquidity — low liquidity means higher slippage
• Avoid max leverage — leaves no room for price movement
• Understand cross-margin implications — one bad trade can affect all positions

API and Automation

• - REST and WebSocket APIs available — full trading functionality
• Rate limits per IP and account — respect limits to avoid bans
• Testnet available — practice without real funds
• SDK in Python — official and community libraries exist

Common Issues

• - "Insufficient margin" — need more USDC or reduce position size
• "Order would trigger liquidation" — leverage too high for position size
• "Rate limited" — slow down API requests
• Withdrawal delayed — network congestion, usually resolves quickly
• Position not showing — refresh or check subaccounts

Security

• - Non-custodial — funds secured by your wallet
• Connect via wallet signature — no deposits to exchange address
• Revoke connections when done — permissions persist until revoked
• Verify site URL — phishing sites common for DEXs
• No KYC required — but geo-restrictions may apply