Hyperliquid, explained
Guides to Hyperliquid from a team building on it: HyperCore, HyperEVM, stocks and oil on HIP-3, HIP-4 markets, fees, deposits, US access, the API and more.
What is Hyperliquid and how does it work?
Hyperliquid is a blockchain built for trading, with onchain order books for perps, spot and prediction markets. How it works, who runs it, and the risks.
Is there a Hyperliquid stock?
No, Hyperliquid has no shares. Nasdaq-listed Hyperliquid Strategies (PURR) holds HYPE, HYPE ETFs trade in the US, and stock perps trade on Hyperliquid itself.
What is HyperEVM? How it connects to HyperCore
HyperEVM is Hyperliquid's smart contract side: chain ID 999, HYPE for gas, one chain with HyperCore. How the two connect, plus RPC, explorers and bridges.
What is HIP-3 on Hyperliquid?
HIP-3 lets a deployer who stakes 500,000 HYPE run its own perp markets on Hyperliquid, from stocks to oil. How deployment, oracles and fees work, and the risks.
Oil on Hyperliquid: WTI, Brent and gold perps
Oil trades on Hyperliquid as trade[XYZ] perps on WTI and Brent, 24/7. How the price is set, what changes on weekends, fees, gold, and the risks.
What is HIP-4? Prediction markets on Hyperliquid
HIP-4 adds prediction markets, which Hyperliquid calls outcome markets, to HyperCore. How they work and settle, who can deploy them, fees, and what trades.
Hyperliquid vs Polymarket vs Kalshi
How the three prediction market venues compare in 2026: who can trade, regulation, custody, fees, settlement and combos, and where each one is better.
Hyperliquid fees explained
Hyperliquid charges 0.045% taker and 0.015% maker on perps, and 0.07% and 0.04% on spot, before discounts. HIP-3, HIP-4, builder and gas fees, worked out.
How to deposit and withdraw on Hyperliquid
Send USDC from Arbitrum or any CCTP chain, or BTC, ETH and SOL through Unit. Minimums, fees, which wallets work, and what to do when a deposit fails.
Can you use Hyperliquid in the US?
No. The Hyperliquid app's terms bar US residents and VPN circumvention. Where KYC applies, planned US venues awaiting approval, US-listed HYPE, and the risks.
Hyperliquid API guide
The Hyperliquid API is free and needs no API key: an info endpoint, a signed exchange endpoint and a WebSocket. Signing, API wallets, rate limits and nodes.
Who are the top traders on Hyperliquid?
A dated snapshot of Hyperliquid's official leaderboard, what PnL, ROI and volume mean, the whales the press has covered, and the risks of copying them.
Hyperliquid builder codes explained
Builder codes let an app add a fee of up to 0.1% on perps or 1% on spot to the orders it sends, once you approve it. How they work and who earns the most.
HYPE token and staking on Hyperliquid
What HYPE is for, how to stake it, the 1-day and 7-day locks, reward rates and fee discounts, and why the Assistance Fund's HYPE counts as burned.
Hyperliquid vaults and HLP explained
How HLP and user vaults work on Hyperliquid: lockups, profit share, the creation fee, the newer HyperEVM vaults, and the losses HLP has taken.