Protocol Explainers
Deep dives into the mechanics of the Hyperliquid ecosystem.
Why the deployer prefix matters, which specifications to read, and how to distinguish active markets from retired contracts.
A September 25, 2026 review of io:OAI: what its price means, current margin limits, how its mark differs from its oracle, and which settlement details remain unclear.
SpaceX is publicly listed. This guide explains the current xyz:SPCX equity perpetual and why old pre-IPO and Ventuals instructions no longer apply.
Bridge USDC to Hyperliquid via Arbitrum One in under a minute. Minimum 5 USDC deposit, 1 USDC withdrawal fee. Step-by-step guide to funding your account.
Hyperliquid portfolio margin unifies spot holdings and perpetual positions under one account. How cross margin, liquidation, and enabling it work.
Current io:ANTH contract identity, valuation units, strict isolated margin, and the difference from the closed Ventuals market.
A dated check of Brent, WTI and natural-gas contracts, including retired OIL and USOIL routes and changes to margin specifications.
Hyperliquid runs two execution layers on one L1: HyperCore for gasless high-speed trading and HyperEVM for permissionless smart contracts. Here is how they differ, where your funds live, and when to use each.
How equity derivatives differ from shares, how to identify the deployer and price reference, and what changes outside the underlying market session.
Hyperliquid now supports fiat deposits via credit card and bank transfer, powered by swapped.com — letting new users fund accounts without existing crypto holdings.
S&P Dow Jones Indices has officially licensed the S&P 500 to Trade[XYZ] for perpetual futures on Hyperliquid — the first and only licensed S&P 500 perp contract, trading 24/7 in USDC.
Bridge USDC to Hyperliquid in under 60 seconds via Arbitrum, Circle CCTP, or 22+ supported chains. Step-by-step guide to deposits, withdrawals, and fees.
Hyperliquid charges 0.045% taker and 0.015% maker fees per trade. Full 2026 fee schedule, volume-tier discounts, and how to lower costs.
Funding rates decide if you pay or earn holding a perp position. How Hyperliquid's hourly funding works, reading rate signals, and cash-and-carry arbitrage.
Go from zero to your first leveraged trade in under 5 minutes. This guide covers wallet setup, USDC deposits, your first order, margin modes, order types, and fee-saving strategies — no KYC required.
Trade gold, silver, and oil perps 24/7 — even when COMEX is closed. No KYC, start from $10, fees as low as 0.005%. Commodity trading guide for Hyperliquid.
HYPE is the native token of Hyperliquid, the largest on-chain perpetual futures exchange. Used for staking, gas, governance, and fee discounts, HYPE has a unique economic model: zero VC allocation, protocol-level buybacks exceeding $1 billion, and dual burn mechanisms that have made it net deflationary.
Use a Hyperliquid referral code to get a 4% discount on trading fees. Learn how the referral system works, how to create your own code, and how discounts stack with staking tiers.
Market, limit, stop-loss, take-profit, TWAP, and scale orders on Hyperliquid — when to use each, key settings, and execution tips for fills.
21 validators secure Hyperliquid via HyperBFT. How governance works, the JELLY incident's impact on voting, and the decentralization roadmap.
L1 blockchains are shifting from volatile trading fees to stable, recurring revenue by issuing their own stablecoins. Hyperliquid's USDH leads the charge — here's why it matters.
USDH is Hyperliquid's native dollar-pegged stablecoin backed by US Treasuries. It channels reserve yield back into the ecosystem through HYPE buybacks — turning idle collateral into protocol revenue.
Hyperliquid's 2024 genesis airdrop distributed 310M HYPE — worth $1.2B at launch — to 94k early users with no VC allocation. Full breakdown.
How Hyperliquid liquidations work, how to calculate your liquidation price, and risk management strategies for cross-margin and isolated-margin trading.
Delegate HYPE to validators to earn staking rewards with automatic compounding on Hyperliquid. Step-by-step setup, validator selection, trading fee discounts, and how unstaking works.
Everything you need to build on Hyperliquid — SDKs in Python, Rust, TypeScript, and more. API endpoints, block explorers, analytics dashboards, and a curated list of community tools and resources.
HIP-1 defines how tokens are created and launched on Hyperliquid through a Dutch auction system. HIP-2 provides automatic liquidity for every listed token. Together, they power a fully on-chain spot exchange.
Hyperliquid Vaults let anyone deposit capital to earn yield from automated trading strategies. The flagship HLP vault has generated over $122 million in lifetime profits through market making and liquidation backstop.
How valuation units, share-price references, margin and settlement differ across pre-IPO markets, with current OpenAI and Anthropic examples.
Trade stocks, gold, silver, and oil 24/7 — even when Wall Street and COMEX are closed. How Hyperliquid handles off-hours trading, price discovery, and risk management.
Lower fees, self-custody, full transparency, no KYC — how Hyperliquid compares to Binance, Bybit, and OKX across every metric that matters.
HyperEVM is the Ethereum-compatible smart contract layer on Hyperliquid — with native access to the deepest on-chain order book through CoreWriter and precompiles.
Build AI trading bots and autonomous agents on Hyperliquid. Connect LLMs to perps via the API, run strategies 24/7, and manage risk programmatically.
HIP-4 brings fully collateralized outcome contracts to Hyperliquid — enabling prediction markets, options-style payoffs, and event-driven trading with no leverage and no liquidations.
HIP-3 lets anyone deploy a perpetual futures market on Hyperliquid — no approval, no gatekeepers. Builder mechanics, fees, and live markets.