Hyperliquid Beginner Checklist - Start Trading in 10 Minutes

Hyperliquid

This is your complete roadmap from zero to first trade on Hyperliquid. No KYC, no sign-up forms, no waiting periods. Just a wallet, some USDC, and 10 minutes.

Every step below links to a detailed guide if you need more help. Bookmark this page and check off each step as you go.

The 9-Step Checklist

Step 1: Choose a Wallet

Hyperliquid is a decentralized exchange - you need a self-custody wallet to connect. No accounts, no passwords, no KYC.

Recommended wallets:

• Rabby - cleanest interface, excellent multi-chain support. Our top pick for beginners
• MetaMask - largest user base, works everywhere
• Coinbase Wallet - great if you already use Coinbase
• Phantom - popular with Solana users, supports EVM chains
• OKX Wallet - built-in exchange integration
• Trust Wallet - mobile-first option

Install your chosen wallet's browser extension (desktop) or app (mobile). Write down your seed phrase and store it somewhere safe - if you lose it, you lose access to your funds permanently.

Step 2: Get USDC on Arbitrum

Hyperliquid uses USDC as its settlement currency. You need USDC on the Arbitrum One network specifically. Three ways to get it:

1. Buy on a centralized exchange (Coinbase, Binance, Kraken) and withdraw USDC to your wallet on Arbitrum
2. Bridge from another chain - use the bridge guide to move funds from Ethereum, Solana, or 22+ other chains
3. Fiat on-ramp - services like MoonPay or Transak let you buy USDC directly with a credit card

You also need a tiny amount of ETH on Arbitrum (less than $0.50) to pay for gas fees when depositing.

Step 3: Connect Your Wallet

Navigate to app.hyperliquid.xyz and click Connect in the top-right corner. Select your wallet from the list, approve the connection in your wallet popup, and you are in.

Make sure your wallet is set to the Arbitrum One network. Most wallets switch automatically, but if not, add Arbitrum manually using chainlist.org.

For detailed connection steps, see the wallet-specific guide linked in Step 1.

Step 4: Deposit USDC

Click the Deposit button on Hyperliquid. Enter the amount of USDC you want to deposit and confirm the transaction in your wallet. The full process is covered in our deposit USDC guide.

Key details:

• Zero deposit fees from Hyperliquid - you only pay Arbitrum gas (~$0.10-0.50)
• Deposits confirm in 1-2 minutes via the native bridge
• No minimum deposit enforced, but $50-100 is practical for trading

Your USDC appears in your Hyperliquid trading balance automatically once the bridge transaction confirms.

Step 5: Learn the Interface

The Hyperliquid trading screen has four main areas:

• Chart (center) - price action with TradingView charting tools
• Order book (right) - live buy/sell orders and spread
• Order entry (right panel) - where you set order type, size, leverage, and direction
• Positions & orders (bottom) - your open positions, pending orders, and trade history

Spend a few minutes clicking around before placing your first trade. The how to trade guide walks through every element in detail.

Step 6: Place Your First Trade

Ready to trade. Here is the simplest path:

1. Select a market from the asset dropdown (BTC-PERP, ETH-PERP, etc.)
2. Choose Market order type for instant execution
3. Set your position size - start small
4. Click Buy / Long or Sell / Short
5. Confirm in the order popup

Your position appears in the bottom panel immediately. You can set a take-profit or stop-loss by clicking on the position row.

For a complete walkthrough with screenshots, see How to Trade on Hyperliquid. Want to learn about different order types? Read the order types guide.

Step 7: Understand Fees

Knowing your costs keeps you profitable. Hyperliquid's base fee tier:

How to pay less:

• Use our referral link for a 4% lifetime discount
• Place limit orders (maker) instead of market orders (taker) - 3x cheaper
• Stake HYPE to unlock fee tier discounts of up to 40%
• Trade higher volume to move up VIP tiers

Read the full breakdown in our fees explained guide.

Step 8: Set Up Security

Your funds are only as safe as your wallet. Essential security steps:

• Never share your seed phrase - no legitimate service will ever ask for it
• Use a hardware wallet for large balances (Ledger or Trezor connected through MetaMask or Rabby)
• Enable transaction simulation - Rabby does this by default, showing you exactly what each transaction does before you sign
• Bookmark app.hyperliquid.xyz - never click links from DMs or social media
• Consider a VPN for privacy - see our best VPN for crypto trading guide

For a comprehensive security setup, read the crypto trading security guide.

Step 9: Explore Advanced Features

Once you are comfortable with basic trades, Hyperliquid has much more to offer:

• Leverage trading - trade with up to 50x leverage on major pairs
• Spot trading - buy and sell tokens directly on Hyperliquid's spot markets
• Vaults - deposit into actively managed vaults run by top traders
• Copy trading - mirror strategies from successful traders
• Shorting - profit from price drops
• DeFi ecosystem - explore Felix, HyperLend, liquid staking, and more on HyperEVM
• Mobile trading - trade from your phone with the same interface

Quick Troubleshooting

Deposit not showing up? Wait 5 minutes. Check the transaction on arbiscan.io to confirm it went through. If it succeeded on-chain but is not in Hyperliquid, try refreshing or reconnecting your wallet.

Wallet won't connect? Make sure you are on Arbitrum One network, clear your browser cache, and try disabling other wallet extensions that might conflict.

Need more help? Browse our troubleshooting guides for common issues and fixes.