Perpetual futures (“perps”) are the most traded product in crypto. This guide shows how to trade perps on Hyperliquid using Himbit — a non-custodial exchange where you trade from your own wallet.
What is a perpetual future?
A perpetual future is a contract that tracks the price of an asset (like BTC or ETH) with no expiry date. You can go long (bet the price rises) or short (bet it falls), and use leverage to size your position larger than your collateral. A periodic “funding rate” keeps the perp price aligned with the underlying market.
Step 1 — Connect your wallet
Open the Himbit app and connect a crypto wallet. There is no account and no KYC — Himbit is non-custodial, so your keys and funds stay with you.
Step 2 — Fund your Hyperliquid account
Deposit USDC to your Hyperliquid account, or use cross-chain swap to move funds in from another chain. This collateral backs your perp positions.
Step 3 — Place your first trade
- Pick a market (for example BTC-USD).
- Choose long or short.
- Set your leverage and order size. Start small while you learn.
- Choose a market or limit order and confirm from your wallet.
Step 4 — Manage risk
- Always set a stop-loss and a take-profit target.
- Watch your liquidation price — higher leverage moves it closer to entry.
- Keep an eye on the funding rate, which you pay or receive while a position is open.
Prefer to learn by watching first? On Himbit you can copy top Hyperliquid traders or run an AI bot instead of trading manually.
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