Features described in this article may be released as part of a phased rollout and may not be available to all users.
Making funds available to trade
If you already have a Hyperliquid account and connect with the same wallet on OpenSea, OpenSea will detect it and your current positions. The positions shown on OpenSea and Hyperliquid are the same underlying positions, viewed through different interfaces. Hyperliquid is the system of record, and OpenSea displays position data provided by Hyperliquid. When you update a perps position using OpenSea, Hyperliquid will display those updates, and vice versa.
Before you can open a perps position, you must fund your connected wallet with Hyperliquid USDC. This entails sending crypto to the Hyperliquid smart contract, where it is locked for use in the Hyperliquid protocol. All perps use USDC as the collateral currency.
Web
On any OpenSea token page that connects to a Hyperliquid perps market, you can view your Hyperliquid USDC balance. To make more funds available to trade on Hyperliquid, click on your balance or click the Add / Withdraw Funds button. A Manage Funds window will appear, where you can submit an order to swap any token for Hyperliquid USDC using OpenSea’s Swap functionality.
Mobile
If you don't have funds deposited for perpetuals trading, you will be prompted to deposit USDC before you can trade. Follow the on-screen instructions to deposit USDC into your perpetuals trading account.
Placing a perps order
Orders are instructions to trade, defining the direction (long or short), whether it’s a market or limit order, your margin, and your intended leverage. Your position is your overall exposure of your filled orders, telling you how much you’re currently long or short.
The minimum order value is $11 — your collateral multiplied by your leverage must equal at least $11 to place an order.
Web
Navigate to a perpetuals market displayed on OpenSea. You can:
Use the search bar at the top of the page and select the Perpetuals category to find available markets.
Visit a token page and click through to its perpetual market, if available.
Go directly to a market via URL (e.g., https://opensea.io/perpetual/BTC).
In the trade module on the right side of the page, select Long or Short.
Select a Market or Limit order.
If you choose Market, you’ll submit an order at the current market price, and the order will execute at the best available price through Hyperliquid.
If you choose Limit, your position only opens if the Hyperliquid market reaches the limit price you specify.
Enter your collateral (margin) amount. You can type a specific amount or use the preset buttons to quickly select an amount. The presets can be toggled between fixed USD amounts and percentages of your available balance using the $/% toggle. Tap Max to use your full available balance.
All perps use USDC as the collateral currency, and your existing Hyperliquid USDC balance is displayed.
(Optional) Adjust your leverage. Click the Leverage button (e.g., "Leverage: 20x") to open the leverage modal. Use the slider or type a specific value (from 1x up to the asset's maximum leverage), then click Confirm. As you change leverage, the displayed Position Size and Estimated Liquidation Price automatically update. Higher leverage increases both potential gains and liquidation risk.
(Optional) Toggle Take Profit / Stop Loss.
Take Profit: Automatically close your position when the price reaches a target level where you want to lock in your gains. For a long position, this is anything above your entry price; for a short position, this is anything below it.
Stop Loss: Automatically close your position when the price moves against you to a specified level to limit your losses. For a long position, this is anything below your entry price; for a short position, this is anything above it.
You can enter TP/SL as a specific price or as a PnL percentage.
Before you submit your order, review the order details displayed below the form:
Mark Price: The current market price.
Estimated Liquidation Price: The estimated market price, calculated by Hyperliquid, at which your position would be liquidated and your margin would be lost
Max Slippage (market orders only): The maximum price deviation you're willing to accept. Click the percentage to edit it.
Margin Type: Isolated (each position has separate margin).
Click Place Order. If this is your first time trading perpetuals, you'll need to sign three messages in your wallet:
Step 1: Convert Account Type — Convert your Hyperliquid account to a unified account (Hyperliquid account type).
Step 2: Approve Fee Address — Authorize the OpenSea fee address to collect fees on your orders.
Step 3: Authorize API Wallet — Approve the API wallet to take actions on your behalf.
Your order is submitted to Hyperliquid.
Mobile
Open the OpenSea app and navigate to a perpetual market via search or from the Perpetuals tab in Explore.
Tap Long or Short at the bottom of the screen to open the trade sheet.
Toggle between Market and Limit order types at the top of the sheet.
Enter your collateral amount in USDC, or use the preset buttons. Tap Max to use your full available balance.
Adjust your leverage using the slider (from 1x up to the asset's maximum).
(Optional) Set Take Profit and/or Stop Loss prices.
Review the order details (position size, entry price, estimated liquidation price).
Submit your order:
For market orders: Slide the confirmation slider to execute (Slide to Long or Slide to Short).
For limit orders: Slide the Place Limit Order slider.
If this is your first trade, you'll be prompted to approve the API wallet via a wallet signature (valid for 7 days).
The information provided in this article is for general informational purposes only and is not intended to constitute financial or investment advice. Trading with leverage is risky. OpenSea encourages you to thoroughly research the possible benefits and risks of perpetual trading before engaging in blockchain transactions. OpenSea is not responsible for any losses or damages arising from the use of this information or product.
Perpetual trading is not available to users in the following regions: UK, US and US-sanctioned countries.