Hyper liquid is the route from collateral deposit to a closed perpetual position

Unified accounts remove a transfer from the opening sequence

The unified account is the notable change in the first-position route because the main Hyper liquid interface defaults to one balance for each asset. A USDC balance supports spot activity and cross-margin positions across the validator-operated perpetual market and compatible HIP-3 markets, removing the separate Spot-to-Perps transfer that older account arrangements required.

Standard mode remains available and keeps spot, perpetual, and separate DEX balances apart. Under that arrangement, deposited USDC must sit in the correct perpetual balance before the order ticket can use it. The unified arrangement therefore requires one balance check, while Standard mode adds a balance transfer when funds arrive on the spot side.

This difference affects the workflow rather than the contract itself. Check the Account Unification Mode setting before assuming that a visible USDC amount is immediately available to the selected perpetual market.

Connect a wallet or create the email-based account

Account access offers 2 routes: connect a DeFi wallet or sign in through email. Email access creates a blockchain address and authenticates the session with a 6-digit code, while the wallet route uses an existing Ethereum Virtual Machine account.

MetaMask, Rabby, WalletConnect, and Coinbase Wallet are established EVM options for the connected-wallet flow. After connection, Enable Trading requests 1 gasless signature; it authorizes trading actions without sending an Arbitrum transaction for every order. The address tied to the account is a 42-character hexadecimal EVM address, including its initial characters.

Before depositing, match the address shown by the interface with the account displayed in the wallet. A correct connection leaves the order ticket associated with the same account that will receive the collateral.

Deposit collateral on the network named in the panel

The deposit panel supports 6 network routes: USDC on Arbitrum, BTC on Bitcoin, ETH or ENA on Ethereum, supported assets on Solana, MON on Monad, and XPL on Plasma. Arbitrum USDC follows the shortest first-position path because it arrives as the collateral used by the main perpetual market rather than as a spot asset awaiting conversion.

The native Arbitrum bridge credits USDC deposits only at or above 5 USDC. ETH is needed in the sending wallet for that Arbitrum deposit transaction, although subsequent HyperCore orders do not require a separate gas payment from the trader.

Unit manages the direct-asset routes outside Arbitrum, and each route has its own displayed minimum. Published thresholds include 0.0003 BTC on Bitcoin, 0.007 ETH or 120 ENA on Ethereum, and 0.12 SOL on Solana. Deposits below the relevant threshold are not credited, making the asset-network pair and minimum part of the transaction itself.

A non-USDC deposit arrives as a spot asset. Sell that asset into the quote collateral required by the intended perpetual market, then confirm that the resulting balance is available before building the opening order.

Choose the perpetual market and margin mode

Perpetual market selection determines the underlying price reference, collateral requirement, size precision, and permitted leverage. Selecting BTC, ETH, or SOL in the perpetuals area creates exposure through a contract; it does not purchase Bitcoin, Ether, or Solana tokens for the wallet.

Margin mode is the second choice. Cross margin is the default and shares available collateral among cross positions, whereas isolated margin assigns collateral to one asset-specific position. Some markets allow only isolated treatment, so the order form controls which choices appear for that contract.

Confirm the ticker, the Perps label, and the margin mode together. A similarly named spot pair changes token balances, while a filled perpetual order changes signed position size and margin accounting.

Turn direction, leverage, and collateral into position size

Position sizing combines 3 inputs: long or short direction, leverage, and order quantity. A long gives positive signed size, while a short gives negative signed size. Position notional equals quantity multiplied by mark price, and required initial margin equals that notional divided by the selected leverage.

Leverage accepts whole-number settings from 1 up to the maximum published for the selected asset. Because the ceiling belongs to the contract and its margin tier, changing the ticker can also change the available leverage choices. The order form's size slider converts the selected balance share and leverage into notional exposure.

Read the final quantity and notional value before confirmation. The collateral field describes capital assigned to the trade, while notional describes the larger contract exposure produced after leverage is applied.

Send one order and read its status

The order ticket turns the selected market, side, and size into the primary trading action. A market order seeks an immediate match against resting liquidity; a limit order executes only at its chosen price or better and remains open when no matching quantity is available.

Each perpetual order needs at least 10 USDC of notional value. Resting limits also use 3 time-in-force behaviors: Good Til Cancel remains on the book, Post Only cancels rather than taking liquidity immediately, and Immediate or Cancel removes any quantity that cannot match at once. Resting orders receive price-time priority.

Limit prices accept no more than 5 significant figures. Perpetual prices also allow at most 6 decimal places minus the asset's size-decimal setting, while quantity is rounded to that asset's published size precision. An invalid tick, undersized notional, or insufficient margin produces a rejected status instead of a position.

The confirmation modal proves that the order was submitted, not that it filled. Look for filled, open, canceled, or rejected status before moving to position verification.

Confirm the live position from fills and account data

The Positions panel confirms whether a Hyper liquid order created exposure. A valid position row names the coin and displays nonzero signed size, entry price, mark price, margin mode, and unrealized profit or loss; Open Orders separately holds any quantity that has not filled.

Entry price is the size-weighted average of opening fills. Unrealized P&L uses a side multiplier of 1 for a long and -1 for a short, followed by the difference between mark price and entry price multiplied by position size. Fundamental account settlement still rests on margin balances and executed trades, so the fill record and signed size are the decisive checks.

The Portfolio graph offers 24-hour, 7-day, and 30-day views but samples account data every 15 minutes. That graph is useful for broader account context, not precise confirmation of a single fill that occurred between samples.

Worked path: a hypothetical deposit, position, and full close

The following worked path isolates the state changes of one position. Every amount, price, direction, and leverage setting in this illustration is hypothetical rather than a live market quote.

1. Hypothetical deposit and allocation: deposit 50 USDC through Arbitrum and allocate a hypothetical 20 USDC of collateral to the order.
2. Hypothetical direction and leverage: choose a hypothetical long at 2x leverage. Multiplying 20 USDC by 2 produces 40 USDC of position notional.
3. Hypothetical opening fill: use a hypothetical fill price of 100 USDC per unit. Dividing 40 by 100 produces a filled position size of 0.4 units.
4. Hypothetical exit fill: use a hypothetical closing price of 105 USDC per unit. The price-only change is (105 − 100) × 0.4, which equals positive 2 USDC.
5. Closing action: submit a reduce-only order for the full 0.4 units. A complete fill leaves a position size of 0 units and realizes the hypothetical positive 2 USDC price change.

The calculation deliberately tracks only the opening fill, price movement, and full close. After the last fill, the Positions panel must show zero size for the market; otherwise, an unfilled closing remainder still exists.

Close first, clear resting orders, then withdraw

A clean exit contains 2 separate state changes: reduce the perpetual position to zero, then remove available collateral from the trading account. A reduce-only order cannot increase or reverse the position, which makes it the appropriate instruction for a full or partial close. Market execution prioritizes immediacy, while a limit close waits for its specified price.

After the close fills, inspect both Positions and Open Orders for that market. A zero position does not cancel an unrelated resting entry order, and an open order could create new exposure later. Cancel any remaining entry, take-profit, or stop-loss instruction that no longer belongs to the completed trade. For the closely linked subject, see Hyper liquid fees.

The native USDC exit sends available collateral to Arbitrum through Withdraw to Arbitrum. Confirm the destination and then inspect the Portfolio page's Deposits & Withdrawals table: the action must read Withdrawal. Send Spot and Send USDC move assets between HyperCore accounts rather than completing an Arbitrum bridge withdrawal.