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

What must be ready before the Arbitrum deposit?

A Hyper liquid USDC deposit requires an EVM account, native USDC on Arbitrum, and enough ETH on Arbitrum to pay for the deposit transaction. The bridge minimum is 5 USDC. Rabby, MetaMask, Coinbase Wallet, and a WalletConnect-compatible wallet provide familiar connection routes, provided the selected account and network match the deposit screen.

Arbitrum One uses chain ID 42161, while an EVM address contains 20 bytes and appears as 42 characters when the leading 0x is included. Native USDC follows the ERC-20 interface and uses 6 decimal places. Check the asset and network together: the USDC deposit route does not credit USDT, ARB, or ETH sent as though they were USDC collateral.

Funding from another chain adds a separate routing step before the native deposit. If USDC begins on Ethereum, Base, or Solana, first deliver native USDC to Arbitrum and then reopen the deposit flow. A withdrawal from a centralized exchange must likewise name Arbitrum as its network; matching the wallet address without matching the network is incomplete.

How do connection, trading authorization, and deposit differ?

Wallet connection, trading authorization, and the USDC deposit are 3 separate state changes. The wallet first grants 1 connection approval. Enable Trading then requests 1 gas-less signature, while the deposit itself is an Arbitrum transaction that consumes ETH for network gas and moves USDC through the bridge.

Once deposited, the amount appears in the USDC Perps balance. HyperCore records later order submissions and cancellations without an Arbitrum transaction for each action, so the wallet signs trading messages rather than paying EVM gas every time. Continue only after the available balance reflects the deposit; a successful wallet transaction alone does not prove that the perps account has been credited.

The Perps balance is distinct from Spot USDC. Collateral held in Spot must be moved with the internal Spot-to-Perps transfer before the ticket can use it; that internal transfer needs a signature but no Arbitrum confirmation. This distinction explains why total account value may exceed the amount available for a perpetual order.

Which market and trading mode belong on the order ticket?

The market selector must show Perps and the intended ticker before any size is entered. BTC, ETH, and HYPE are examples of perpetual markets, whereas a similarly named spot pair changes ownership of an asset instead of creating a derivative position. A perpetual contract has no expiration date, and 1 contract unit represents 1 unit of its underlying spot asset.

Market choice also sets the permitted leverage and size precision. HyperCore accepts perpetual prices with up to 5 significant figures, subject to a maximum of 6 decimal places minus the asset's size-decimal setting. The interface handles that rounding, yet the rule explains why a hand-typed price sometimes changes slightly. Read the ticker, Perps label, mark price, and order book together before moving to direction.

For a first pass, select a market whose visible best bid and ask carry enough quantity for the intended order. The spread is the distance between those 2 prices. A market order consumes that displayed liquidity; a limit order sets a boundary and waits when no matching price exists.

Cross or isolated margin comes before leverage

Margin mode decides which collateral supports the new position. HyperCore presents 2 modes: cross margin, the default that shares account collateral among cross positions, and isolated margin, which assigns collateral to one market. Isolated margin also permits margin to be added or removed from that position after it opens.

Leverage is an integer from 1x through the maximum published for the selected asset. Initial margin equals position notional divided by leverage, or a fraction of 1 divided by the chosen leverage. A 100 USDC position at 2x therefore uses 50 USDC of initial margin. Choose the mode first because switching the displayed leverage changes the collateral reserved for the same notional size.

Cross margin is compact for one position in an otherwise empty Perps account. Isolated margin displays the allocation for that market as a separate balance. Write down the chosen mode before submission, because the position table reports it after the fill and later margin adjustments follow that selection.

How do direction, collateral, and position size connect?

Direction turns the market view into one action: Long increases exposure when the asset price rises, while Short increases exposure when it falls. Position size equals leverage multiplied by the collateral assigned to the order. With 25 USDC allocated at 2x, the ticket represents 50 USDC of notional exposure, which the interface converts into asset quantity at the expected execution price.

A perpetual order must carry at least 10 USDC of notional value. That minimum applies to the order value, not merely the cash sitting in the account. At 1x, 10 USDC of notional requires about 10 USDC of initial margin; at 2x, the same notional requires about 5 USDC. Leave the remaining balance untouched if it is not meant to support the first position.

On a limit ticket, notional is limit price multiplied by asset size. On a market ticket, the interface estimates notional from the executable book. The displayed collateral requirement therefore changes if price or size changes before submission, although the 10 USDC order minimum stays fixed.

Market or limit: which primary action should be sent?

A market order seeks an immediate fill against resting orders, while a limit order executes only at the chosen price or better. Those 2 order forms cover the clearest first-position paths. The documented order set contains 8 forms, including trigger, Scale, and TWAP variants, but adding them does not improve a simple deposit-to-exit rehearsal.

Use Market when immediate entry matters and the displayed book supports the intended size. Use Limit when the entry price is the controlling condition; a Good Til Cancel limit remains open until it fills or is canceled. After selecting Long or Short, press Place Order and review the confirmation modal. The optional confirmation bypass affects future prompts, not the order's onchain status.

A Good Til Cancel limit is the clearest waiting order. Immediate or Cancel fills the available portion at once and cancels the rest, while Post Only rests as a maker order or rejects if it would match immediately. These 3 time-in-force choices change execution behavior without changing the chosen long or short direction.

What belongs in the final confirmation check?

The order confirmation is the last complete view before the first position changes the account. A 5-point decision check keeps the submitted instruction aligned with the plan:

• The ticket says Perps and shows the intended ticker.
• Long or Short matches the desired direction.
• Cross or isolated margin and the leverage integer are correct.
• Market is intentional, or the limit price is acceptable.
• Notional size clears 10 USDC and fits the available Perps balance.

Confirm only when all 5 conditions describe one coherent order. A limit price far from the book may create a resting order rather than a position, while a market instruction produces a fill only for quantity available within its execution bounds.

Where does the resulting position appear?

Hyper liquid confirms execution in the order status and the Positions table. Filled means quantity traded; open means a limit order still rests; canceled or rejected means its unfilled quantity created no position. HyperCore finalizes order actions with 1-block finality, so the position row and fill record are the decisive checks after submission.

The position row shows market, signed size, entry price, mark price, margin used, and unrealized profit or loss. The accounting uses side value +1 for a long and -1 for a short, multiplied by the difference between mark and entry prices and by position size. If another opening fill increases the same position, the displayed entry becomes a size-weighted average. Closing quantity leaves the entry price of the remaining quantity unchanged.

The fill record and position row answer 2 different questions. Fill history shows each executed trade and price; the position row nets all fills in that market into one current exposure. Read both before attaching an exit, since an order identifier alone says nothing about the remaining position size.

How are take-profit and stop-loss exits attached?

Position take-profit and stop-loss orders attach exit conditions to an existing fill and trigger from the mark price. The position form sets each order to 100% of the position by default. A custom fixed size stays fixed instead, so it does not automatically expand when later trades increase the position.

Market TP/SL orders use a 10% slippage tolerance after the trigger, while limit TP/SL orders place a limit at the specified execution price. The latter controls the worst accepted price but can remain unfilled after triggering. TradingView chart controls expose the same trigger levels visually. For a clean first cycle, attach exits from the position form after verifying the actual filled size, not from an order that is still resting.

What closes the position without reversing it?

A reduce-only closing order decreases the existing position and refuses any quantity that would increase or reverse it. To close a long, sell the matching size with Reduce Only; to close a short, buy the matching size with Reduce Only. The position is fully closed when its remaining size is 0, not when an exit order is merely submitted.

The position table's Close action provides the shortest manual route. Select Market for immediate execution or Limit for a defined closing price, then choose 100% for a full exit. A 50% close deliberately leaves half the position active. After the fill, inspect Positions and Open Orders together; cancel any leftover exit order that no longer matches an open position.

A closing limit may remain open. Until its status changes to filled, the position continues at the remaining size, so a withdrawal attempt should not be treated as proof of closure.

How does the remaining USDC return to Arbitrum?

Anything left over is addressed in Hyper liquid guide. The USDC withdrawal starts after the position size is 0 and no pending order reserves collateral. Enter an amount no greater than the withdrawable balance, choose Withdraw to Arbitrum, verify the destination, and sign the request. The HyperCore validators sign the bridge transaction, so the withdrawal request itself does not require the wallet to submit an Arbitrum gas transaction.

Bridge finalization takes approximately 5 minutes. Then switch the receiving wallet to Arbitrum One, chain ID 42161, and check its native USDC balance rather than the Perps balance. Hyper liquid completes the first-position cycle only when the close is filled, the account shows no unintended open order, and the withdrawn USDC appears at the 42-character destination address.

The receiving address need not hold ETH merely to receive USDC. It will need ETH later to send an Arbitrum transaction, which is separate from confirming that this withdrawal arrived.