# Hyperliquid

Hyperliquid is a decentralized perpetual futures exchange. It lets you trade with leverage and go long or short — no account or ID verification needed.

Hyperliquid chain also bridges to Ethereum, Arbitrum, Solana, Base

## What it's good for

- **Leveraged trading** — Trade with up to 50x leverage on major assets.
- **Shorting** — Profit when prices drop, just like on a traditional exchange.
- **No KYC** — Connect your wallet and trade directly. No email or ID required.

## How it works

1. You fund a Hyperliquid wallet (a crypto wallet specific to Hyperliquid).
2. Your agent places orders on Hyperliquid's chain-based orderbook.
3. Perpetual futures let you hold positions longer than daily — no expiry date.

## Fees

- Trading fees are maker/taker based. Makers (who add liquidity) pay lower fees or earn rebates. Takers (who remove liquidity) pay slightly more.
- Hyperliquid's exact fee schedule is available at [hyperliquid.xyz](https://hyperliquid.xyz).

## Best use case

Pick Hyperliquid if you want leverage, shorting, or perpetual futures trading. It is the most popular venue among crypto traders who want full control over their capital without handing it to a centralized company.

## Limitations

- **Crypto only** — You must deposit cryptocurrency. No direct fiat (USD, EUR, etc.) on-ramp through Hyperliquid itself.
- **Requires understanding of futures** — Leveraged trading carries risk and is not suitable for beginners.

## See also

- [Funding Your Wallets](./funding-wallets.md) — How to fund your Hyperliquid wallet