Hyperliquid Trading Guide

Overview

The Cortex Agent provides the most advanced natural language interface for Hyperliquid, offering institutional-grade perpetual futures trading, spot trading, algorithmic trading strategies, staking, and portfolio management - all through simple conversation. Whether you're a professional trader or DeFi newcomer, Cortex makes Hyperliquid's powerful features accessible to everyone.

Perpetual Futures Trading

Basic Trading Commands

Command	Description	Example
Market Orders	Open positions instantly at market price	"Long ETH with 10x leverage"
Limit Orders	Set specific entry prices	"Buy BTC at $95,000 with 5x leverage"
Position Sizing	Control position size precisely	"Long 0.5 ETH with 3x leverage"
Close Positions	Exit trades quickly	"Close my ETH position"

Advanced Order Types

Feature	Description	Example Commands
Stop-Loss Orders	Automatic loss protection	"Set stop loss at $2,800 for my ETH long"
Take-Profit Orders	Lock in gains automatically	"Set take profit at $3,500 for my ETH position"
TWAP Orders	Time-weighted average execution	"Buy 10 ETH over the next 2 hours using TWAP"
Combined Orders	Multiple orders in one command	"Long BTC at $96k, stop loss at $94k, take profit at $100k"

Professional Features

• Leverage Control: Trade with up to 50x leverage depending on the asset
• Cross/Isolated Margin: Choose your margin mode for risk management
• Real-time P&L: Track unrealized and realized profits instantly
• Funding Rates: Monitor and optimize funding payments
• Position Management: View all positions, orders, and trade history

Spot Trading

Trade spot markets on Hyperliquid with instant execution:

• "Buy 1000 HYPE tokens"
• "Sell half of my PURR tokens"
• "Swap all my USDC to HYPE"

Staking Operations

HYPE Staking

Action	Description	Example
Stake HYPE	Lock tokens for rewards	"Stake 5000 HYPE tokens"
Unstake	Begin withdrawal process	"Unstake 2000 HYPE"
Check Rewards	View staking earnings	"Show my HYPE staking rewards"
Check Balances	View all HYPE balances	"What's my HYPE staking balance?"

Understanding HYPE Balances

• HYPE (Spot): Regular HYPE tokens in your spot wallet for trading
• HYPE (Undelegated): HYPE in staking account but not yet delegated
• HYPE (Staked): HYPE actively delegated to validators earning rewards
• HYPE (Pending withdrawal): HYPE in 7-day unbonding period

Validator Delegation

• Delegate to Validators: "Delegate 10,000 HYPE to validator X"
• Redelegate: "Move my delegation from validator Y to validator Z"
• View Delegations: "Show my current HYPE delegations"
• Default Validator: System defaults to Hyper Foundation 1 validator

Staking Management

• Deposit to Staking: "Move 1000 HYPE to staking account"
• Withdraw from Staking: "Withdraw unstaked HYPE to spot wallet"
• Auto-staking: When you stake, the system automatically handles transfers and delegation

Note: Unstaking has a 7-day unbonding period during which tokens cannot be transferred.

Market Analysis

Real-time Data Access

Query Type	Information Provided	Example
Market Overview	Price, volume, funding rates	"Show me BTC perps data on Hyperliquid"
Order Book	Bid/ask spreads and depth	"What's the ETH order book looking like?"
Open Interest	Total position sizes	"What's the open interest for SOL?"
Funding History	Historical funding rates	"Show BTC funding rates over the last week"

Trading Analytics

• Volume Analysis: "Show Hyperliquid's 24h trading volume"
• Top Movers: "What are the top gainers on Hyperliquid today?"
• Liquidation Data: "Show recent liquidations on ETH perps"
• Market Sentiment: "Analyze long/short ratio for major assets"

Advanced Strategies

TWAP (Time-Weighted Average Price) Orders

TWAP orders split large orders over time to minimize market impact:

• Basic TWAP: "Buy 100 ETH over 60 minutes using TWAP"
• With Duration: "TWAP buy 50 BTC over 120 minutes" (specify duration in minutes)
• With Randomization: "TWAP sell 200 ETH over 90 minutes with randomization"
• Default: If no duration specified, defaults to 60 minutes

Note: TWAP orders execute at regular intervals over the specified duration. Randomization adds variability to execution timing to avoid predictable patterns.

Algorithmic Trading Strategies

Moving Average Crossover Strategy

Automate your trading with technical indicator-based strategies:

What it does: Automatically trades based on moving average crossovers

• Opens long positions when short MA crosses above long MA (bullish signal)
• Opens short positions when short MA crosses below long MA (bearish signal)
• Runs continuously, monitoring markets 24/7

Starting a Strategy:

• "Run a moving average crossover strategy on ETH"
• "Start MA crossover for BTC using 10 hour and 30 hour moving averages"
• "Run MA strategy on SOL with 50/200 day MAs for one week"

Strategy Parameters:

Parameter	Description	Example Values
Trading Pair	Asset to trade	ETH-USD, BTC-USD, SOL-USD
Short MA Period	Fast moving average	10, 20, 50 hours/days
Long MA Period	Slow moving average	30, 100, 200 hours/days
Position Size	Max position per trade	0.5 ETH, 0.1 BTC
Check Interval	How often to check	Every hour, day (default: 1 day)
Duration	How long to run	1 week (default), 30 days

Managing Strategies:

• View Active: "What algo strategies are running?"
• Stop Strategy: "Stop my ETH moving average strategy"
• Check Performance: "Show performance of my algo strategies"

Important Notes:

• Strategies run automatically even when you're offline
• Positions are automatically closed when strategy stops
• Each strategy gets a unique ID for tracking
• System handles all order execution and position management

Multi-Step Operations

Execute complex strategies with single commands:

• "Sell all my altcoin positions and open a 5x long on ETH"
• "Close my BTC short, then use the profits to buy and stake HYPE"
• "Take profits on my winning positions and add to my ETH long"

Trading Competitions

Weekly Perps Trading Competition

Compete against other traders in weekly perpetual futures competitions with real prizes:

Overview:

• Prize Pool: $1,000 CX tokens distributed weekly
• Duration: Monday 00:00 UTC to Sunday 23:59 UTC
• Ranking: Based on Return on Equity (ROE) percentage
• Leaderboard: Real-time rankings updated throughout the week

How to Participate:

1. Deposit Requirements: Minimum $100 USDC before Monday snapshot
2. Trading: All perp trades must be initiated through Cortex interface
3. Scoring: ROE = Realized PnL / Starting Balance
4. Restrictions: No mid-week withdrawals (deposits count against ROE)

Prize Distribution:

Rank	Prize
1st	$500 CX
2nd	$350 CX
3rd	$150 CX

Competition Commands:

• "Show me the trading competition leaderboard"
• "What's my competition ranking?"
• "Check my competition ROE"
• "Show competition rules"

Important Rules:

• One wallet per person (no sybil attacks)
• No wash trading or self-matching
• Must follow Hyperliquid's Terms of Service
• Winners must submit feedback to claim prizes
• Prizes distributed within 72 hours after round ends

Strategy Tips:

• Focus on consistent profitable trades rather than high-risk gambles
• ROE rewards efficiency, not just absolute profits
• Consider market conditions and funding rates
• Use proper risk management to avoid liquidations

Risk Management

Position Monitoring

• Portfolio Overview: "Show all my Hyperliquid positions"
• P&L Tracking: "What's my total P&L today?"
• Risk Metrics: "Calculate my portfolio risk exposure"
• Margin Usage: "How much margin am I using?"

Built-in Protections

• Liquidation Warnings: Agent shows liquidation prices with positions
• Position Limits: Agent helps with safe position sizing
• Slippage Protection: Automatic checks for large price impacts

Tips for Success

For New Traders

1. Start with small positions to understand the platform
2. Always use stop-losses to protect capital
3. Monitor funding rates - they affect profitability
4. Use TWAP orders for large trades

For Advanced Traders

1. Combine multiple order types for sophisticated strategies
2. Leverage the code interpreter for custom analysis
3. Use natural language for complex multi-leg trades
4. Monitor cross-exchange arbitrage opportunities

Common Commands Reference

Quick Actions

• "What's my Hyperliquid balance?"
• "Show my open orders"
• "Cancel all orders"
• "What's the max leverage for BTC?"
• "Calculate my liquidation price"

Analysis Queries

• "Compare ETH funding rates to other exchanges"
• "Show me the most liquid perps markets"
• "What's the historical volatility of SOL perps?"
• "Analyze my trading performance this month"

Integration with Other Features

The Hyperliquid integration works seamlessly with other Cortex features:

• Cross-chain Trading: "Bridge USDC from Arbitrum and long ETH on Hyperliquid"
• Portfolio Analytics: "Compare my Hyperliquid P&L to my DeFi yields"
• Market Research: "Find news about tokens I'm trading on Hyperliquid"
• Risk Analysis: "Analyze correlation between my perps and spot holdings"

Start trading on Hyperliquid with Cortex today - professional trading tools made simple through natural language.