如何在 Hyperliquid 上交易： Complete 新手指南
Learn to trade 永续合约 on the fastest DEX — from 钱包 setup and USDC bridging to placing your first 杠杆d trade. Step-by-step with interactive calculators.
4% lifetime 手续费折扣 — applied automatically via link
Prerequisites: What You Need Before 交易
Hyperliquid is a 去中心化 交易所, which means you trade directly from your 钱包 — no account registration or KYC needed. Here is what you need to get started:
MetaMask or EVM 钱包
Install MetaMask (browser extension or mobile app) or any EVM-compatible 钱包 like Rabby, Coinbase 钱包, or 钱包Connect-supported 钱包s. MetaMask is the most popular choice.
Arbitrum 网络上的 USDC
Hyperliquid uses USDC as 抵押品. You need USDC on the Arbitrum One network. You can buy USDC on Binance (with code TRADEOFF20 for 20% off fees) and withdraw to Arbitrum, or bridge from other chains.
Arbitrum 上的少量 ETH
You need a tiny amount of ETH on Arbitrum (~$0.50 worth) to approve the USDC 充值 transaction. After the initial 充值, all 交易 on Hyperliquid is gasless.
Basic 交易 Knowledge
Understanding basic concepts like long/short positions, 杠杆, and margin. Do not worry if you are new — this guide covers everything 分步.
Connect Your 钱包 to Hyperliquid
- 1
Visit app.hyperliquid.xyz/join/TRADEOFF4 to activate your 4% 手续费折扣 automatically.
- 2
点击 Hyperliquid 界面右上角的连接按钮。
- 3
Select MetaMask (or your preferred 钱包) from the list. Approve the connection in your 钱包 popup.
- 4
Sign the message to create your Hyperliquid 交易 account. This is gasless and creates a unique 交易 key linked to your 钱包.
提示：连接前请确保您的 MetaMask 已设置为 Arbitrum One 网络。如需要，Hyperliquid 会提示您切换。
将 USDC 桥接至 Hyperliquid
Hyperliquid uses USDC (on Arbitrum) as the sole 抵押品 for all 交易. Here is how to get USDC and 充值 it:
选项 A：在 Binance 购买 USDC 并提款至 Arbitrum
- 1.
Create a Binance account with code TRADEOFF20 for 20% 手续费折扣: 注册 Binance
- 2.
充值 fiat (银行转账, 信用卡) or crypto to your Binance account.
- 3.
在 Binance 现货市场购买 USDC（USDC/USDT 或 USDC/法币交易对）。
- 4.
Withdraw USDC to your MetaMask address. IMPORTANT: Select the Arbitrum One (ARB) network — not Ethereum mainnet. This saves ~$10 in Gas 费s.
选项 B：从其他链桥接 USDC
如果您已经在以太坊主网或其他链上拥有 USDC，可以使用官方桥（如 Arbitrum Bridge (bridge.arbitrum.io)）或第三方桥（如 Stargate 或 Across Protocol）将 USDC 转移到 Arbitrum。
充值 USDC into Hyperliquid
- 1.
On Hyperliquid, click "充值" (or go to the 投资组合 tab).
- 2.
Enter the amount of USDC you want to 充值.
- 3.
首先，批准 USDC 支出授权（一次性交易，消耗极少量 ETH）。
- 4.
Confirm the 充值 transaction. Your USDC will appear in your Hyperliquid balance within minutes.
Enter 推荐码 TRADEOFF4
4% Lifetime 手续费折扣
Using our 推荐链接 automatically applies a 4% discount on all your Hyperliquid 交易手续费s — 永续s, spot, and RWA markets. The discount is permanent and applies for the lifetime of your account.
了解 Hyperliquid 界面
The Hyperliquid 交易 interface has four main areas. Here is what each one does:
K线图（中间）
交易View-powered candlestick chart showing price action. You can switch timeframes (1m, 5m, 15m, 1h, 4h, 1D), add indicators (RSI, MACD, Bollinger Bands), and draw trend lines. Use the 交易View desktop app for advanced charting — 注册 with our link for additional features. Get 交易View
订单簿 (Left)
显示实时买入（买价）和卖出（卖价）订单，包括价格水平和数量。Hyperliquid 上最佳买卖价之间的价差通常非常小（往往为 0.01%）。绿色 = 买单，红色 = 卖单。点击某个价格水平可自动填入订单表单。
订单面板（右侧）
Where you place trades. Select Long (buy) or Short (sell), choose order type (Market, Limit, Stop), set your 杠杆, enter size, and submit. The panel also shows your available margin and estimated fees.
持仓面板（底部）
Shows your open positions, pending orders, trade history, and current PnL. You can manage positions from here: add/reduce margin, set 止盈 or 止损, or close positions. Also shows funding rate payments and 投资组合 overview.
进行您的第一笔交易
Let us walk through placing your first trade on Hyperliquid. We will cover both 市价单s (instant execution) and 限价单s (set your price).
市价单 (Instant Execution)
- 1.
Select a 交易 pair (e.g., BTC-PERP) from the market list on the left.
- 2.
Set your 杠杆 using the slider (start with 2-5x as a beginner). Select Cross or Isolated margin.
- 3.
如果您认为价格会上涨，选择做多；如果认为价格会下跌，选择做空。
- 4.
以美元为单位输入您的仓位大小。界面会显示所需保证金。
- 5.
Click "Place Order". The 市价单 fills instantly at the best available price.
限价单 (Set Your Price)
- 1.
在订单面板中切换到限价订单类型。
- 2.
输入您想要的价格。做多时，设置低于当前市场价的价格。做空时，设置高于当前市场价的价格。
- 3.
输入仓位大小并点击下单。限价单为您赚取挂单手续费（0.015%），而非支付吃单手续费（0.045%）— 可为您节省 67% 的手续费。
Pro Tip: Use 限价单s whenever possible. You pay much lower fees (maker rate) and often get better execution prices.
仓位大小计算器
Use this calculator to understand how margin, 杠杆, and entry price affect your position size and 清算 price.
仓位大小
$10,000
合约数量
0.1538
清算 Price
$58,825
距强平距离
9.5%
Higher 杠杆 means higher risk. At 50x 杠杆, a mere 2% price move against you will liquidate your entire position. Beginners should use 2-5x 杠杆 maximum.
杠杆 Explained: 1x to 50x
杠杆 lets you control a larger position with less capital. For example, with 10x 杠杆, $100 of margin controls a $1,000 position. Profits AND losses are both amplified.
| 杠杆 | 所需保证金 | 仓位大小 | 强平距离 | 风险等级 |
|---|---|---|---|---|
| 1x | $1,000 | $1,000 | ~99% | Low |
| 3x | $333 | $1,000 | ~33% | Low |
| 5x | $200 | $1,000 | ~20% | Medium |
| 10x | $100 | $1,000 | ~10% | Medium |
| 25x | $40 | $1,000 | ~4% | High |
| 50x | $20 | $1,000 | ~2% | Extreme |
全仓保证金
Your entire account balance is used as margin for all positions. If one position moves against you, it can draw from your full balance. Larger effective margin means lower 清算 risk, but you could lose your entire account if markets move sharply.
Best for: Experienced 交易者s who manage multiple positions
逐仓保证金
Each position has its own dedicated margin. If a position gets 被清算, you only lose the margin assigned to that position — the rest of your balance is safe. This limits your downside per trade.
Best for: Beginners and risk-conscious 交易者s (recommended)
Hyperliquid 上的订单类型
Hyperliquid offers several order types to execute your 交易 strategy precisely. Understanding each type helps you trade more effectively and manage risk better.
Market
Executes immediately at the best available price. Use when you need to enter or exit a position quickly. Pays taker fee (0.045%). Best for: Urgent entries/exits when speed matters more than price.
Limit
Executes only at your specified price or better. If the market does not reach your price, the order stays open. Pays maker fee (0.015%) — 67% cheaper than market orders. Best for: Patient entries, accumulating positions, and saving on fees.
Stop-Loss
Automatically sells your position when price reaches a certain level. Essential for risk management. Can be set as stop-market (instant execution) or stop-limit. Best for: Protecting against large losses, must-have for every trade.
Take-Profit
Automatically closes your position at a target profit level. Locks in gains without needing to watch the market. Set as TP-market or TP-limit. Best for: Securing profits automatically, especially useful for swing trades.
TWAP
Time-Weighted Average Price — splits a large order into smaller parts executed over a specified time period. Reduces market impact and slippage for big positions. Best for: Large orders ($50K+) where you want to minimize market impact.
盈亏计算器
Calculate your potential profit or loss before entering a trade. This calculator includes the 4% 手续费折扣 with code TRADEOFF4.
所需保证金
$1,000
毛盈亏
+769.23
净盈亏（扣除手续费后）
+$760.59
保证金投资回报率
+76.9%
交易手续费s
$8.64
净投资回报率
+76.1%
所示手续费已包含 TRADEOFF4 的 4% 折扣。不使用折扣的手续费为 $9.00.
风险管理: The 2% Rule
Risk management is the most important skill in 交易. Without it, even the best strategy will eventually fail. Here are the essential rules every Hyperliquid 交易者 should follow:
2% 法则
Never risk more than 2% of your total account on a single trade. If your account is $5,000, your maximum loss per trade should be $100. This means sizing your position and 止损 so that if stopped out, you only lose 2%. This ensures you can survive a losing streak — even 10 losses in a row only costs 18% of your account.
Always Use 止损 Orders
Set a 止损 on every single trade before you enter. On Hyperliquid, you can attach a 止损 directly to your order. For long positions, place stops below support levels. For short positions, place stops above resistance levels. Never move your 止损 further away from your entry — only tighten it.
风险收益比（最低 1:2）
Only take trades where your potential profit is at least 2x your potential loss. If your 止损 is $100 away, your 止盈 should be at least $200 away. With a 1:2 ratio, you only need to win 33% of trades to break even. Most successful 交易者s aim for 1:3 or better.
最大风险敞口
将您的总持仓限制在账户价值的 10-20%。不要同时开 5 个交易每个风险 2% — 那就是总共 10% 的风险。使用逐仓保证金，这样一笔糟糕的交易不会拖垮整个账户。同时考虑相关性：不要同时做多 BTC、ETH 和 SOL，因为它们往往同向波动。
Hyperliquid 上新手常犯的 5 个错误
Mistake #1: Over-leveraging (using 20x-50x as a beginner)
Fix: Start with 2-3x leverage. Once profitable for 30+ days, gradually increase to 5x maximum. High leverage is for experienced traders only.
Mistake #2: Not setting stop-losses
Fix: Set your stop-loss BEFORE entering every trade. Hyperliquid lets you set TP/SL at order entry. If you cannot define your stop-loss, do not take the trade.
Mistake #3: Overtrading (too many positions at once)
Fix: Limit yourself to 1-3 open positions at a time. Quality over quantity. Each position should have a clear thesis, entry, stop-loss, and take-profit.
Mistake #4: Ignoring funding rates on long-held positions
Fix: Check funding rates before and during positions. On Hyperliquid, funding is charged hourly. A 0.01% hourly rate means ~7.3% per month. Factor this into your trade plan for longer holds.
Mistake #5: Revenge trading after a loss
Fix: After a loss, close your laptop and walk away for at least 30 minutes. Never immediately re-enter a trade to "make back" what you lost. Emotional trading leads to bigger losses.
Mobile 交易 on Hyperliquid
Hyperliquid works in mobile browsers — no app download needed. Here is how to set up mobile 交易:
- 1
Install a Mobile 钱包
Download MetaMask, Rabby, or Coinbase 钱包 on your phone. Import your existing 钱包 or create a new one.
- 2
在手机浏览器中打开 Hyperliquid
在手机浏览器中打开 app.hyperliquid.xyz/join/TRADEOFF4（iOS 使用 Safari，Android 使用 Chrome）。
- 3
Connect via 钱包Connect
Tap "Connect" and select 钱包Connect. Scan the QR code with your mobile 钱包 or select the 钱包 from the list.
- 4
添加到主屏幕
为方便快速访问，将 Hyperliquid 页面添加到主屏幕（iOS 上点击分享 > 添加到主屏幕）。这将为您提供类似应用的体验。
Mobile 交易 tip: Avoid placing large 杠杆d trades on mobile. Slow connections or accidental touches can lead to costly mistakes. Use mobile for monitoring and small adjustments; use desktop for major trades.
资金费率详解
Funding rates are periodic payments between long and short 交易者s on 永续合约. They keep the 永续 price close to the spot price. Understanding funding rates is crucial for profitable 交易.
正资金费率
Perp price is higher than spot price. Longs pay shorts. This happens when the market is bullish and many 交易者s are long. If you are long, you pay funding. If you are short, you receive funding.
负资金费率
永续合约价格低于现货价格。空头向多头支付费用。这在市场看跌时发生。如果您持有多头仓位，您将收到资金费用。如果您持有空头仓位，您将支付资金费用。
Hyperliquid 资金费率时间表
On Hyperliquid, funding is charged every 1 hour (unlike some 交易所s that charge every 8 hours). This means funding payments are smaller per period but more frequent. A typical funding rate of 0.005% per hour equals 0.12% per day or ~3.65% per month. Always check funding rates before holding positions overnight.
Strategy: Some 交易者s profit by taking the opposite side of extreme funding. When BTC funding is very high (0.03%+/hour), shorting BTC while hedging on spot can be profitable — you collect funding while being delta-neutral.
Track Your Trades with 交易View
While Hyperliquid has a built-in 交易View chart, using the full 交易View platform gives you access to advanced tools, multi-chart layouts, alerts, and a social network of 交易者s.
多图表布局
Monitor BTC, ETH, and 山寨币s simultaneously with custom layouts. Set up your ideal 交易 workspace.
价格提醒
在价格水平、指标交叉或趋势线突破时设置警报。通过电子邮件、应用推送或短信获取通知。
100+指标
使用 RSI、MACD、布林带、成交量分布等数百种指标。还有社区构建的指标。
回放模式
Practice 交易 with historical data. Replay past market movements and test your strategies without risking real money.
Ready to Start 交易 on Hyperliquid?
Join Hyperliquid with code TRADEOFF4 and get a 4% lifetime discount on all 交易手续费s. No KYC required — connect your 钱包 and start 交易 in minutes.
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阅读更多 →风险提示
加密货币 交易 carries significant risk. 杠杆d 交易 on Hyperliquid can result in rapid and substantial losses exceeding your initial 充值. A 50x 杠杆d position can be fully liquidated by a 2% adverse price move. Never trade with money you cannot afford to lose.
This guide is for educational purposes only and does not constitute financial advice. Always conduct your own research (DYOR) and consider consulting a qualified financial advisor before engaging in 杠杆d 交易. Past performance does not guarantee future results.