Short answer. Yes, Hyperliquid has a full spot exchange: 336 pairs (October 20, 2026, 03:53 UTC), mostly against USDC. Spot costs 0.070% taker / 0.040% maker at the base tier, orders are gas-free and must be worth at least 10 USDC. BTC, ETH and SOL arrive as UBTC, UETH and USOL through Unit. In the default Unified Account there is no perps-to-spot transfer: deposit, open /trade/HYPE/USDC, click Buy. Want leverage or shorts instead? Use perps (section 1). Join with code HOLYGRAIL first for 4% off fees on your first $25M.
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1. Spot or perps on Hyperliquid: which should you use?
Both run on the same HyperCore order-book engine, share one fee tier and live in the same account. What differs is what you hold. On spot you own the token. On perps you hold a USDC-margined contract that tracks the price.
| Spot | Perpetuals | |
|---|---|---|
| What you hold | The token (HYPE, UBTC…) | A USDC-margined contract |
| Leverage | None (1x). Borrowing only in Portfolio margin | Up to 40x BTC, 25x ETH, 20x SOL, 10x HYPE |
| Base fees (taker / maker) | 0.070% / 0.040% | 0.045% / 0.015% |
| Funding | None | Paid or received every hour |
| Liquidation | Not on the holding itself | Yes, at maintenance margin |
| Shorting | No (you can only sell what you hold) | Yes |
| Markets | 336 pairs | 178 validator-operated perps + HIP-3 markets |
| 30-day volume (DefiLlama, September 27, 2026) | $5.13B | $216.95B (about 42x spot) |
| Stake, withdraw or use on HyperEVM | Yes | No, only USDC profit and loss |
Pick spot when you want to hold HYPE or BTC for months, stake HYPE (validator rewards plus 5–40% off trading fees), send the coin to your own wallet or to HyperEVM apps, hold the spot leg of a spot–perp basis trade, or buy a HIP-1 token that has no perp. Pick perps when you want leverage, want to short, want to hedge a spot bag, or trade short-term: perps are cheaper per trade and far deeper. The general mechanics are in our perps vs spot primer and what perpetual futures are. This page sticks to what is specific to Hyperliquid.
Common mistakes
- Treating a 1x perp long as spot. It still pays or receives funding every hour, and you own no token to stake, withdraw or use as collateral elsewhere.
- Expecting perp HYPE to count for staking. Fee discounts need spot HYPE moved to the Staking Balance and delegated. Getting it back takes 7 days.
- Forgetting that spot USDC backs your perps. In the default Unified Account, the USDC you keep for spot buys is also margin for cross perp positions (section 9).
- Sending BTC, ETH or SOL on the wrong network. Unit addresses accept only the named chain and minimum. Wrong-network deposits can be lost (section 10).
- Market-buying a thin HIP-1 book. The order form's default max slippage is 8%, which is a lot on a small token. Use limit orders.
- Trading through an app with a big spot builder fee. Third-party front-ends may charge up to 1% on spot sells, 14 times the base taker fee.
Some popular guides say Hyperliquid spot covers only HIP-1 tokens and that borrowing is impossible. Neither is true. Unit's UBTC, UETH and USOL are among the busiest spot books, and Portfolio margin borrows against spot holdings (section 9).
2. Hyperliquid spot in numbers (live)
Spot uses the same on-chain order-book engine as perps. Every order, cancel and fill is a HyperCore transaction, placed without gas and visible through the API or an explorer. The public API showed the following at October 20, 2026, 03:53 UTC (this page rebuilds every six hours):
- 336 spot pairs: 319 quoted in USDC, 11 in USDH, 5 in USDT0, 1 in USDE. Spot quote assets are permissionless, which is why several stablecoins appear as quotes. 106 pairs traded at all in the last 24 hours, and 11 traded more than $1M.
- $107.3M of 24-hour spot volume, against $4.03B on perps. Spot was 2.6% of combined spot and validator-operated perp volume, and HYPE/USDC alone was 28% of spot.
| Pair | Token (API name) | 24h volume |
|---|---|---|
| UBTC/USDC | Unit Bitcoin | $33.7M |
| HYPE/USDC | Hyperliquid | $29.9M |
| UETH/USDC | Unit Ethereum | $10.6M |
| UZEC/USDC | Unit Zcash | $10M |
| KNTQ/USDC | Kinetiq | $6.6M |
| ONEAR/USDC | NEAR Protocol | $3.4M |
| XMR1/USDC | XMR - Wagyu.xyz | $3.1M |
| UPUMP/USDC | Unit Pump Fun | $2.5M |
Source: Hyperliquid API spotMetaAndAssetCtxs, October 20, 2026, 03:53 UTC. 24-hour figures swing from day to day. Over 30 days, DefiLlama counted $5.13B of Hyperliquid spot volume (September 27, 2026).
3. What you can buy: HYPE, Unit assets and HIP-1 tokens
HYPE, the native token
HYPE/USDC is the deepest spot book on the exchange. HYPE also trades against USDT0, USDE and USDH, but those books are tiny. Buying HYPE on spot is the direct route to staking (validator rewards plus trading-fee discounts) and to paying HyperEVM gas. Background on the token is in our HYPE token guide.
Native BTC, ETH, SOL and more, via Unit
Bitcoin, Ether and Solana do not live on Hyperliquid natively. When you pick BTC, ETH or SOL in the deposit window, the address comes from Unit, a tokenization protocol built for Hyperliquid. You send real BTC and Unit credits the same amount of UBTC on HyperCore. ETH becomes UETH and SOL becomes USOL. The same applies to ZEC, AVAX, XPL (Plasma), MON (Monad), VIRTUAL (sent on Base) and a few Solana tokens such as PUMP, FARTCOIN, SPX, BONK and 2Z. These U-assets trade on the UBTC/USDC, UETH/USDC and USOL/USDC books, and withdrawing sends real coins back to the native chain (section 10).
HIP-1 tokens
HIP-1 is Hyperliquid's native token standard. Anyone who wins the deployment auction can create a capped-supply token, and it gets a USDC order book from day one (how that works: section 11). PURR was the first. Deployers set the lot size and by default receive the fees paid in their token. The optional HIP-2 "Hyperliquidity" strategy quotes a ladder of orders spaced 0.3% apart to bootstrap liquidity. Most HIP-1 tokens are small, volatile and thinly traded. Check the order book depth before you click Buy.
Stablecoins and other bridged assets
USDT0, USDH and USDE trade against USDC. Other teams issue their own bridged assets, for example XMR1 ("XMR - Wagyu.xyz" in the API). Pairs between two quote assets, such as USDT0/USDC, pay 80% lower taker fees, which makes stablecoin swaps cheap.
4. How to buy spot on Hyperliquid, step by step
- Open the app and connect. Go to app.hyperliquid.xyz. Our link app.hyperliquid.xyz/join/HOLYGRAIL attaches the 4% referral discount before your first trade. Click Connect and choose an EVM wallet (Rabby, MetaMask, WalletConnect, Coinbase Wallet) or log in with your email and a 6-digit code. Wallet users then click Enable Trading and sign a gas-less message. No identity documents are asked for.
- Deposit. Click Deposit. Send USDC on Arbitrum, Ethereum, Base or Polygon and it arrives as USDC on HyperCore. The minimum is 5 USDC, and smaller amounts can be lost. Or deposit a native asset such as BTC or SOL to the Unit address shown; it arrives as UBTC or USOL. You pay only the source chain's network fee. Details: Hyperliquid deposit guide.
- Open the spot market. Click the market name at the top left of the Trade page, switch the list to Spot and search the token, or go straight to
app.hyperliquid.xyz/trade/HYPE/USDC. Spot markets are named TOKEN/QUOTE. The header shows price, 24h change, 24h volume, market cap and the token's contract. - Choose the order type. The form has Market, Limit and Pro tabs (section 5). Market fills now against the book. Limit rests at your price; pick post-only (ALO) if you want to be sure of the maker fee.
- Enter the size and click Buy. Type the amount in the token or in USDC, or use the % slider. The order must be worth at least 10 USDC (on other quote assets, the same amount of that stablecoin). The form shows the order value, estimated slippage and the fee line, which reads 0.0700% / 0.0400% at tier 0.
- Check your balance. Filled tokens appear under Balances at the bottom of the Trade page and on the Portfolio page. From there you can sell, send to another address, transfer to HyperEVM or, for HYPE, move them to the Staking Balance.
5. Spot order types and time-in-force
Hyperliquid's docs describe one set of order types and mark only Trailing Stop as available for perp markets. The less common ones sit under Pro.
| Order | What it does | When to use it on spot |
|---|---|---|
| Market | Fills immediately against the book, up to your max slippage | Deep books (HYPE, UBTC) and small sizes |
| Limit | Fills at your price or better | Anything thin, and to pay the 0.040% maker fee |
| Stop / Take (Market or Limit) | A market or limit order triggered at your price | Selling a spot holding if it drops (stop) or rises (take) |
| Scale | Several limit orders across a price range | Building a HYPE position gradually |
| TWAP | Splits a large order into suborders at least 30 seconds apart, over 5 minutes to 7 days; $100 minimum | Large buys without moving the price |
| Chase | A post-only limit that re-prices to track the best bid or ask (runs in your browser tab) | Getting maker fees without babysitting the order |
Time-in-force options: GTC (Good Til Cancel, the default) rests until filled or cancelled. ALO (Add Liquidity Only, post-only) is rejected if it would fill immediately, so it always pays the maker rate. IOC (Immediate or Cancel) fills what it can at once and cancels the rest. The full reference, with screenshots of each form, is in our Hyperliquid order types guide.
6. Worked example: buying $1,000 of HYPE and staking it
At the HYPE/USDC mid of about $91.65 (September 27, 2026), $1,000 buys roughly 10.9 HYPE.
- Market buy, tier 0: 0.070% × $1,000 = $0.70. With a referral code (4% off) it is $0.672.
- Limit buy that rests and fills: 0.040% = $0.40 ($0.384 with a referral code).
- Same trade on a CEX: Binance charges 0.1% to regular users ($1.00), or 0.075% paying in BNB. Bybit charges 0.1% taker on spot for non-VIP crypto pairs ($1.00).
Now stake. Move the HYPE from your spot balance to your Staking Balance and delegate to a validator (staking guide). More than 10 HYPE staked gets the Wood tier (5% off all trading fees), more than 100 gets Bronze (10%), more than 1,000 gets Silver (15%). So $1,000 of HYPE (10.9) clears the Wood line. A delegation is locked for 1 day, and moving HYPE from Staking back to spot takes 7 days, so do not stake HYPE you may need to sell quickly.
Discounts multiply. A Bronze staker who joined with a referral code pays 0.070% × 0.90 × 0.96 ≈ 0.0605% on a spot market order, or $0.60 per $1,000.
7. Hyperliquid spot fees and how to cut them
Spot and perps have separate fee schedules but one fee tier, set by rolling 14-day weighted volume and assessed at the end of each UTC day: weighted volume = perp volume + 2 × spot volume. Spot volume counts double.
| Tier | 14-day weighted volume | Spot taker | Spot maker |
|---|---|---|---|
| 0 | — | 0.070% | 0.040% |
| 1 | > $5M | 0.060% | 0.030% |
| 2 | > $25M | 0.050% | 0.020% |
| 3 | > $100M | 0.040% | 0.010% |
| 4 | > $500M | 0.035% | 0.000% |
| 5 | > $2B | 0.030% | 0.000% |
| 6 | > $7B | 0.025% | 0.000% |
Source: hyperliquid.gitbook.io/hyperliquid-docs/trading/fees (verified October 15, 2026). Perp rates at tier 0 are 0.045% / 0.015%.
- Stablecoin pairs: pairs between two spot quote assets have 80% lower taker fees, maker rebates and volume credit.
- Aligned quote assets: pairs quoted in a stablecoin aligned under the original spec (AQAv1; the newer AQAv2 designation carries no trading-fee benefit) get 20% lower taker fees and 50% better maker rebates.
- HYPE staking: 5% (Wood, >10 HYPE) up to 40% (Diamond, >500,000 HYPE) off, on top of the tier.
- Referral: 4% off both sides for your first $25M of volume if you joined with a code such as
HOLYGRAIL. It does not apply to sub-accounts or vaults. - Where fees go: fees paid in a HIP-1 base token go to its deployer by default (100%; the deployer can only lower it, and the rest is burned). Overall, deployers keep at most 50% of the fees their token generates. The remaining protocol fees go to HLP and the Assistance Fund, which converts them to HYPE and burns it. No team treasury takes a cut.
Watch the front-end you use. Third-party Hyperliquid apps can add a builder fee on top of the protocol fee: up to 1% on spot (0.1% on perps). On spot, builder fees apply only where the fee is collected in the quote asset, so they hit the selling side rather than the buying side. A 1% fee on your exit is still 14 times the 0.070% base taker rate. On a desktop, the official app is the cheapest way to buy spot. The full fee picture is in the Hyperliquid fees guide, and you can run your own numbers in the fee calculator.
Ready to buy? Start at the base rate minus 4%
Code HOLYGRAIL cuts spot and perp fees by 4% for your first $25M. No KYC: a wallet or email is enough.
8. HYPE spot: Hyperliquid vs Binance vs Coinbase
Binance opened HYPE spot trading on September 24, 2026 (HYPE/USDT, HYPE/USDC and HYPE/TRY), and Coinbase's HYPE-USD book has traded since February 5, 2026 (first daily candle in the Coinbase Exchange API). So "where do I buy HYPE spot?" now has three serious answers:
| Hyperliquid spot | Binance spot | Coinbase (Advanced) | |
|---|---|---|---|
| HYPE pairs | HYPE/USDC (plus small USDT0, USDE, USDH books) | HYPE/USDT, HYPE/USDC and HYPE/TRY | HYPE-USD |
| Base taker / maker | 0.070% / 0.040% | 0.1% / 0.1% (0.075% with BNB) | 0.6% / 0.4% (lowest volume tier) |
| Account | Wallet or email, no ID documents | Verified account, plus a seed-tag risk quiz every 90 days | Verified account |
| Custody | Your own wallet (HyperCore) | Binance holds it | Coinbase holds it |
| Stake for Hyperliquid fee discounts | Yes, directly | Only after withdrawing to Hyperliquid | Only after withdrawing to Hyperliquid |
| Fiat on-ramp | No | Yes | Yes (USD) |
| Not available to | US, Ontario, sanctioned regions (Terms §1.6) | Residents of the US, Canada, the Netherlands and some sanctioned regions (listing notice) | Depends on Coinbase's own country list |
Sources: Binance announcement "Binance Will List Hyperliquid (HYPE) with Seed Tag Applied" (September 24, 2026) and Binance spot fee schedule; Coinbase Exchange fee schedule; Hyperliquid docs and Terms. All checked September 27, 2026.
Which one should you use? If you already hold dollars on a CEX and only want price exposure, Binance with BNB-paid fees is close on cost. Buy HYPE on Hyperliquid if you want to stake it for Hyperliquid fee discounts, use it as Portfolio-margin collateral, keep it in your own wallet, or skip KYC. Moving it later costs time. Binance's HYPE withdrawals run on HyperEVM only, so the coins land on HyperEVM and need one more Transfer to Core (paid in HYPE gas) before you can stake or trade them on HyperCore. For perps on HYPE, compare the two venues in Hyperliquid vs Binance perpetuals.
9. Spot and perps balances: Unified, Portfolio margin and Standard
Older guides, and some AI answers, still tell you to "transfer USDC from perps to spot" before buying. That is no longer the default. Hyperliquid has three account abstraction modes:
| Mode | How balances work | Good for |
|---|---|---|
| Unified Account (app default, "recommended") | One balance per asset. Your USDC balance pays for spot buys against USDC and collateralizes all cross-margin perp positions settled in USDC. | Most users. No manual transfers. |
| Portfolio margin | One portfolio across eligible assets (HYPE, BTC, USDC, USDT). Spot holdings can back perps, and any shortfall is borrowed automatically against eligible collateral (HYPE LTV 65%, BTC 50%). Idle borrowable assets earn interest. | Carry trades (long spot, short perp). Needs >$5M weighted volume or >$10,000 account value, and account value under $25M. |
| Standard / manual | Separate spot and perp balances. You move USDC with Perps to Spot Transfer / Spot to Perps Transfer (no fee). | Market makers, bots, builders (builder-code addresses must use it). |
The practical point for spot buyers: in Unified mode, the USDC you park for spot purchases is also margin for your cross perp positions. If a cross position goes badly, that USDC is at risk; the app's migration notice says the whole collateral balance protects against cross-margin liquidation. For a hard wall between a spot stack and leveraged trading, use isolated margin for the perp, switch to Standard mode (the Unified button at the top right of the order form), or keep spot holdings in a sub-account. In Standard mode you can only move margin out of perps if what remains is at least 10% of your open notional and covers initial margin.
10. Depositing and withdrawing BTC, ETH and SOL (Unit)
Unit publishes a minimum per asset, and transactions below it cannot be processed. Sending an unsupported token or using the wrong network is worse: Unit warns such assets may become stuck and unrecoverable (some can be reverted, many cannot).
| Asset | Send on | Minimum | Typical arrival | Credited as |
|---|---|---|---|---|
| BTC | Bitcoin | 0.0003 BTC | about 30 minutes | UBTC |
| ETH | Ethereum mainnet | 0.007 ETH | about 5 minutes | UETH |
| SOL | Solana | 0.12 SOL | about 1 minute | USOL |
| ZEC | Zcash | 0.07 ZEC | about 2 hours | UZEC |
| AVAX | Avalanche | 1.5 AVAX | about 1 minute | UAVAX |
| XPL | Plasma | 60 XPL | about 1 minute | UXPL |
| MON | Monad | 450 MON | about 1 minute | UMON |
Sources: docs.hyperunit.xyz Supported Assets, the Hyperliquid support FAQ and Unit's live fee/ETA estimate (checked September 27, 2026). Arrival times change with chain conditions; minimums can change too, so always read the figure in the deposit window.
- Your deposit address is permanent and tied to your Hyperliquid address. Unit's Guardian network generates it (2-of-3 MPC).
- Unit charges no protocol fee. You pay the network fees of the source and destination chains; a BTC withdrawal cost about $0.60 in Bitcoin network fees on Unit's estimate of September 27, 2026.
- Withdrawing: on the Portfolio page choose Withdraw, pick the asset (e.g. Bitcoin), enter an address on that chain and sign. Once the Hyperliquid transaction finalizes, Unit broadcasts the transfer on the native chain.
- USDC leaves through Circle’s CCTP via the HyperEVM. A withdrawal to Arbitrum costs a flat 0.2 USDC plus a tiny HyperEVM gas fee in HYPE. See how to withdraw from Hyperliquid.
- HyperEVM: the Transfer to/from EVM button moves spot tokens between HyperCore and HyperEVM, with gas paid in HYPE. Funds sent to HyperEVM by accident are not lost; move them back the same way.
11. How Hyperliquid spot listings work
Unlike a centralized exchange, Hyperliquid has no listing team for spot. Listings are permissionless and on-chain:
- Token deploy auction (HIP-1). The right to deploy a new token is sold in a Dutch auction that runs 31 hours. The gas price, paid in HYPE, falls linearly to a 500 HYPE floor. It restarts at the floor if the last auction failed, otherwise at twice the last winning price. On September 27, 2026 the API showed the auction at 500 HYPE. The gas is not refunded if a deployment gets stuck.
- Genesis and the USDC book. The deployer sets the ticker (up to 6 characters), decimals, maximum supply and genesis balances. Every new token starts with a spot order book against USDC, optionally seeded by HIP-2 Hyperliquidity.
- Extra pairs. A pair between two existing tokens (say, a token against USDT0) goes through its own, independent Dutch auction. It also stood at 500 HYPE on the same day.
- New quote assets. A stablecoin becomes a spot quote asset once its deployer stakes 200,000 HYPE (slashable) and meets peg and order-book depth conditions. USDC and USDT are exempt from the stake.
Two consequences for buyers. First, a spot listing is not an endorsement: anyone who pays the auction can list, so verify the token ID in the market header and on an explorer. Second, the app's market selector opens on a filtered Strict list, and All shows everything. Perp listings follow different rules (validator-operated perps and HIP-3); see the Hyperliquid trading pairs list.
12. Risks and disadvantages of Hyperliquid spot
- Bridge custody. UBTC, UETH and USOL are claims on coins held by Unit's Guardians. If Unit failed or were compromised, the U-assets could lose their backing even while Hyperliquid kept running. Long-term BTC savings are safer in your own Bitcoin wallet.
- Thin books outside the top pairs. Only 11 of 336 pairs traded more than $1M in the 24 hours to October 20, 2026, 03:53 UTC. Market orders on small HIP-1 tokens can move the price several percent; use limit orders. Our slippage guide shows how to read the book first.
- Token quality. Anyone can deploy a HIP-1 token, and front-ends may show different display names. Check the contract or token ID, not just the ticker.
- Higher fees than perps. 0.070% spot taker against 0.045% on perps at tier 0.
- Lot sizes and dust. A balance smaller than one lot can't be sold on the book. Once a day at 00:00 UTC, balances under one lot and worth $1 or less are swept and sold for USDC unless you opt out of spot dusting.
- Shared margin. In Unified mode, spot USDC backs cross perps (section 9).
- Unstaking delay. Staked HYPE takes 7 days to return to spot.
- Chain-level risk. Validators confirm HyperCore, and Hyper Foundation validators held about 47.3% of stake (October 15, 2026). Smart-contract and bridge risk apply to deposits and withdrawals.
- Access. Hyperliquid's Terms exclude residents of the US and Ontario and sanctioned regions (§1.6), and prohibit hiding your location with a VPN. Respect them. Country details: where Hyperliquid is restricted.
Spot removes liquidation risk, not market risk. HYPE and every other spot asset can fall sharply. Only put in what you can afford to lose.
13. FAQ
Can you trade spot on Hyperliquid?
Yes. Hyperliquid runs on-chain spot order books next to its perpetuals: 336 spot pairs (October 20, 2026, 03:53 UTC), 319 of them quoted in USDC. You buy the token itself (HYPE, UBTC, UETH, USOL, PURR and hundreds of HIP-1 tokens) with no leverage, no funding and no liquidation of the holding. Orders cost no gas.
What are Hyperliquid spot fees?
At the base tier, spot costs 0.070% taker and 0.040% maker, against 0.045% / 0.015% on perps. Rates fall with 14-day weighted volume (spot counts double), HYPE staking takes 5–40% off, and a referral code takes 4% off your first $25M of volume. Pairs between two stablecoin quote assets pay 80% lower taker fees.
How do I buy HYPE on Hyperliquid?
Deposit USDC (Arbitrum, Ethereum, Base or Polygon) or a native asset such as BTC or SOL, open app.hyperliquid.xyz/trade/HYPE/USDC, choose Market or Limit, enter the size and click Buy. The minimum order is 10 USDC. HYPE lands in your spot balance, and you can move it to your Staking Balance for fee discounts.
Is it better to trade spot or perps (futures) on Hyperliquid?
Spot if you want to own the asset: hold, stake HYPE, withdraw BTC to your own wallet, or buy a HIP-1 token that has no perp. Perps if you want leverage, shorting or hedging: they are cheaper per trade (0.045% vs 0.070% taker) but charge or pay funding every hour and can be liquidated. A 1x perp long is not the same as spot: it still pays funding and gives you no token to stake or withdraw.
Do I need to transfer USDC from perps to spot?
Not in the default Unified Account mode, where spot and perps share one balance per asset. Only in Standard (manual) mode are the balances separate; there you move USDC with Perps to Spot Transfer. In Unified mode your USDC spot balance also backs cross-margin perp positions.
Is BTC on Hyperliquid spot real Bitcoin?
It is UBTC, a 1:1 token issued by Unit when you send real BTC to your Unit deposit address. Unit's Guardians hold the BTC with a 2-of-3 MPC scheme and release it when you withdraw to a Bitcoin address. While the BTC is on Hyperliquid you rely on Unit's custody.
Should I buy HYPE on Binance or on Hyperliquid?
Binance opened HYPE spot trading on September 24, 2026 (HYPE/USDT, HYPE/USDC and HYPE/TRY) with a seed tag: you need a verified account and must pass a risk quiz every 90 days. Its regular spot fee is 0.1% (0.075% paying in BNB), against 0.070% taker on Hyperliquid with no ID documents. If you want to stake HYPE for Hyperliquid fee discounts or use it as collateral there, buy it on Hyperliquid: Binance withdraws HYPE only on HyperEVM, so it needs one more transfer to reach HyperCore.
How do tokens get listed on Hyperliquid spot?
Spot listings are permissionless. A deployer wins a Dutch auction paid in HYPE that runs 31 hours (the price falls to a 500 HYPE floor), creates a HIP-1 token and gets a USDC order book at once. Extra pairs between existing tokens go through a separate pair auction. Nobody at Hyperliquid vets these tokens, so check the token ID before you buy.
Where is Hyperliquid allowed?
Hyperliquid's Terms (§1.6) exclude people who live in or are located in the United States or Ontario, Canada, and sanctioned territories. Elsewhere anyone with a wallet or email can use it, subject to local law. The Terms also ban VPNs or other tools to hide your location (§3.1.5).
What are the disadvantages of Hyperliquid spot?
Higher base fees than Hyperliquid perps, thin order books outside the top pairs, bridged BTC/ETH/SOL that depend on Unit's custody, anyone-can-list HIP-1 tokens, 7 days to unstake HYPE, and no fiat on-ramp. Third-party apps can add up to 1% on spot sells.
Why can’t I sell a small leftover spot balance?
Each token has a lot size set by its deployer, and orders must be worth at least 10 USDC. Balances below one lot and worth $1 or less are swept once a day at 00:00 UTC by spot dusting, which sells the combined dust and credits you USDC. You can opt out in the app.
Open Hyperliquid
Spot and perps from one wallet, no gas on orders, 4% off fees for your first $25M with HOLYGRAIL.
On a phone? Our Hyperliquid app guide compares the mobile options and their extra fees.
Disclosure: HOLYGRAIL is our Hyperliquid referral code; we earn a share of referred accounts' fees at no cost to you. Fees, limits and dates come from the Hyperliquid docs, Unit, Binance and Coinbase (checked September 27, 2026); pair counts and volumes from the Hyperliquid API at October 20, 2026, 03:53 UTC. This is not investment advice; spot tokens can lose most of their value.