Perps FAQ
Is HyperFlow a separate exchange with its own order book?
No. Every order executes against Hyperliquid’s order book. HyperFlow is an aggregation layer on top: it pools volume for better fee tiers, keeps per-account accounting, and provides the interface. Prices, depth, and funding are Hyperliquid’s.
Why are my fees lower than Hyperliquid's standard rate?
Hyperliquid discounts fees per account by 14-day volume and staked HYPE. HyperFlow’s master account reaches tiers that most individual accounts never reach, and 50% of the savings versus the standard rate is passed to you on every fill. See Fees & Save on Fees. If you already trade enough volume (or stake enough HYPE) to hold a high fee tier on Hyperliquid yourself, trading directly may be cheaper for you — HyperFlow’s savings are measured against the standard retail rate.
Who holds my funds?
Deposits are held in HyperFlow’s custody (that’s what enables pooled fee tiers), credited to your account on the platform ledger, and mirrored on-chain via the HyperflowProof contract. Withdrawals require 2-of-4 multisig approval. See Transparency & Security.
Do I need a token or to stake anything to get the fee discount?
No. The discount comes from the platform’s pooled volume and staked HYPE, and applies from your first trade.
What order types are supported?
Market, limit, and stop-market, plus attached and position-level take-profit / stop-loss (including partial TP/SL), and reduce-only orders. See Orders & Margin.
Is there cross margin?
Not yet — all positions are isolated margin. Each position’s risk is contained to its own collateral.
Why does the app say only one side pays funding this hour?
The venue charges funding on the platform’s net position. When user longs and shorts offset, only the net side has funding to pass through for that period. See Funding.
Can my account go negative?
No. Losses are capped at the margin posted to each isolated position, and the Insurance Fund absorbs any gap beyond the bankruptcy price.
How fast are deposits and withdrawals?
Arbitrum deposits credit in under a minute; HyperCore and HyperEVM deposits in seconds. Withdrawals are processed continuously — the multisig review adds a short delay before funds leave custody. See Deposits & Withdrawals.
How do I get access during alpha?
Access is invite-gated. Join the Discord and request an alpha invite; you’ll receive an access code or wallet whitelisting.
Is there a trading API?
Yes — the Perps API covers orders, account data, and transfers, using the same EIP-712-signed model as the app. Like the app, it is alpha and invite-gated: your wallet needs alpha access to trade through it.
Are batch orders atomic?
No. Batches of up to 20 orders are a transport convenience: each order is independently signed and independently accepted or rejected. One rejected leg does not cancel the others.
Are there position or open-interest caps?
During alpha, the limits are a $2,000 notional cap per order and 20 open orders per market. There is no separate position or OI cap today. Hyperliquid’s funding-rate caps apply unchanged, since funding is passed through from the venue.