# Hyperbeat — trading guides (full text) > Hyperbeat is the Liquid Banking platform built on Hyperliquid. One self-custodial onchain account combines trading (perpetual futures and spot on Hyperliquid's order books), a global account with savings, loans, and a credit card. Users keep custody of their assets at all times. These guides explain how trading on Hyperbeat works. Index of this site: https://hyperbeat.org/llms.txt --- # What Are Perpetual Futures? A Beginner's Guide to Perps Source: https://hyperbeat.org/blog/what-are-perpetual-futures If you have spent any time around crypto trading, you have probably heard people talk about "perps." Perpetual futures are the most traded product in crypto, and they are the core of Hyperbeat Trade. This guide explains what they are in plain language. Hyperbeat Trade is built on Hyperliquid, the largest onchain perpetuals exchange, wrapped in Hyperbeat's own gasless, one-click interface. So the mechanics in this guide are exactly the ones Hyperliquid uses; Hyperbeat's job is to make them feel effortless. ## The short version A perpetual future is a contract that lets you speculate on the price of an asset without owning the asset itself. If you think the price of BTC will go up, you open a long. If you think it will go down, you open a short. Your profit or loss comes from how the price moves after you enter. Two things make perps different from regular futures contracts: - They never expire. You can hold a position for five minutes or five months. - A mechanism called the funding rate keeps the perp price anchored to the real market price of the asset. ## Longs and shorts When you buy a perp, you are going long. You profit if the price rises and lose if it falls. When you sell a perp you do not own, you are going short. You profit if the price falls and lose if it rises. This is one of the biggest advantages of perps over spot trading: you can express a view in either direction. On the spot market you can only profit when prices go up. With perps you can also position for prices going down. Shorting also lets you hedge. If you already hold an asset on spot and want to protect against a drop without selling it, you can open a short perp of the same size. Losses on your spot holding are offset by gains on the short. Because Hyperbeat uses one unified balance for spot and perps, your spot holdings and the perp that hedges them live in the same account. ## Leverage: trading with more than you have Perps let you control a position larger than your deposit. This is called leverage, and it is expressed as a multiple. Here is a simple example. You deposit 100 USDC and open a long on BTC with 5x leverage. Your position is now worth 500 USDC. If BTC rises 10 percent, your position gains 50 USDC, which is a 50 percent return on your 100 USDC. If BTC falls 10 percent, you lose 50 USDC, half of your deposit. Leverage multiplies both directions equally. The money you set aside to back the position is called margin. On Hyperbeat Trade you can pick any leverage from 1x up to the maximum allowed for each market, and the order form always shows you the margin required before you confirm. ## Liquidation: the risk that comes with leverage Because you are trading with borrowed exposure, the exchange needs to make sure your losses never exceed your margin. If the price moves far enough against you, your position is closed automatically. This is called liquidation, and it usually means losing the margin backing that position. The higher your leverage, the smaller the move needed to liquidate you. As a rough rule of thumb: - At 2x leverage, the price needs to move roughly 50 percent against you. - At 5x leverage, roughly 20 percent. - At 20x leverage, roughly 5 percent. The exact numbers are a little tighter than this because exchanges require a safety buffer called maintenance margin. Hyperbeat Trade shows your estimated liquidation price in the order form before you place a trade, and next to every open position. We cover this topic in depth in our guide to liquidation. ## The funding rate: what keeps perps honest Since a perp never expires and never settles into the real asset, something has to keep its price close to the actual market price. That something is funding. At regular intervals, traders on one side of the market pay a small fee to traders on the other side: - When the perp trades above the real price, longs pay shorts. This makes shorting more attractive and pushes the price back down. - When the perp trades below the real price, shorts pay longs, which pushes the price back up. Funding is a payment between traders, not a fee collected by the exchange. If you hold positions for days or weeks, funding can meaningfully add to or subtract from your results. Our funding rates guide explains how to read and use it. ## Why traders use perps - Trade both directions. Profit from prices falling, not just rising. - Hedge what you own. Short a perp against spot you hold to protect against a drop without selling. - Capital efficiency. Leverage means you do not need the full value of a position up front. - No expiry. Hold as long as your margin supports the position. - Deep liquidity. Perps are the most liquid markets in crypto, which usually means tighter spreads and better fills. ## The risks, honestly Perps are powerful, and they are also the fastest way for a new trader to lose money. Leverage cuts both ways, liquidations are permanent, and volatile markets can move faster than you can react. Start small, use low leverage, and always know your liquidation price before you enter a trade. ## Where to go next Hyperbeat Trade gives you perps and spot markets in one account, with no gas fees and one-click orders. When you are ready, these guides will take you from zero to your first trade: - Getting started with Hyperbeat Trade - Leverage and margin explained - Understanding liquidation and how to avoid it Nothing in this article is financial advice. Perpetual futures involve significant risk, and you should never trade with money you cannot afford to lose. --- # Getting Started with Hyperbeat Trade Source: https://hyperbeat.org/blog/getting-started-with-hyperbeat-trade Hyperbeat Trade lets you trade perpetual futures and spot markets on Hyperliquid, directly from your self-custodial Hyperbeat account. There are no gas fees, no wallet popups on every order, and one balance that works across everything. This guide walks you through your first session, step by step. ## What you need - A Hyperbeat account. If you do not have one yet, the Trade page will prompt you to create a Liquid Account when you press Get Started. - Some funds to trade with. USDC is the main collateral, and you can deposit from almost anywhere. More on that below. - A desktop browser. The trading interface is optimized for desktop screens. ## Step 1: Open the Trade page and sign in Head to the Trade page in the Hyperbeat app. If you are not signed in, you will see a prompt to sign in or create a Liquid Account. Your Liquid Account is a self-custodial smart account: you control it, and it is the same account that powers the rest of Hyperbeat. ## Step 2: Complete the one-time trading setup The first time you trade, you will see an Enable Trading dialog with two quick steps: activating your trading module and approving trading. Behind the scenes, this sets up a dedicated agent that signs your orders for you. Two things are worth knowing: - It is secure by design. The agent can only place and cancel orders. It cannot withdraw your funds. - It is a one-time setup. After this, your trades are instant, with no signing prompts and no gas fees. This is what makes trading on Hyperbeat feel like a professional exchange rather than a typical onchain app. You click, the order goes in, done. ## Step 3: Add funds Press Add Funds on the account card. You can deposit USDC and other assets from many sources: - A deposit address you can send USDC to from any wallet or exchange - Your Hyperbeat spending account or USD balance - A wallet on HyperEVM, or another network via a cross-chain deposit - Native chains like Bitcoin, Ethereum, and Solana for supported assets Most routes are free and instant, and none of them ask you to hold a gas token or sign a gas-paying transaction. Deposits from a native chain or another network carry only that network's own fee. For the full picture, including withdrawals to other chains, read our guide to funding your trading account. ## Step 4: Understand your unified account Hyperbeat Trade uses a unified account: one balance shared across spot and perps. You do not need to move money between separate spot and futures wallets like on many exchanges. Your USDC and your spot holdings all count toward your total equity, and free collateral is automatically available for perp positions. If your account predates unified balances, you may see a one-time "One balance for everything" prompt inviting you to upgrade. It is a single tap that keeps your open positions and orders intact and moves no funds; accepting it switches you to the shared spot-and-perps balance described here. The account card shows your Total Equity along with your unrealized profit and loss and a few health metrics we cover in the leverage and margin guide. ## Step 5: Pick a market Click the market name at the top of the chart, or press Ctrl+K (Cmd+K on Mac), to open the market selector. You can: - Search by name or symbol - Browse tabs for Favorites, All, Perps, and Spot - Filter by category: Crypto, Stocks, ETF, Commodities, FX, and Indices - Sort by price, 24 hour change, funding, volume, or open interest Star the markets you care about and they appear in your favorites bar above the chart for one-click switching. ## Step 6: Place your first order The order form sits at the top right of the screen. For a first trade, keep it simple: - Choose Market as the order type. It fills immediately at the best available price. - Pick a side: Buy / Long if you think the price will rise, Sell / Short if you think it will fall. - Enter a small size. Type an amount, drag the percentage slider, or tap a quick-size button: fixed dollar amounts ($10, $50, $100, $500) or Max when buying, and 25%, 50%, 75%, or Max when selling. Your Available to Trade is shown just above the size input. - Check the details rows below: Liquidation Price, Order Value, Margin Required, estimated and maximum slippage, and fees. - Press Place Order and confirm. Before you size up, we strongly recommend reading about leverage. The default is modest, but you can change it with the leverage button above the order form, and higher leverage means liquidation sits closer to your entry price. ## Step 7: Track and manage your position Once filled, your position appears in the Positions tab at the bottom of the page, and your entry and liquidation prices are drawn directly on the chart. From the Positions tab you can: - Watch your live profit and loss - Set a take profit or stop loss - Close part or all of the position with a market or limit order Our position management guide covers all of this in detail. ## A note on risk Perps are leveraged products and losses can be fast. Start with small sizes and low leverage while you learn the interface. Every serious trader loses trades; the goal early on is to keep those losses small while you build good habits. ## Keep learning - What are perpetual futures? - A tour of the Hyperbeat Trade interface - Order types on Hyperbeat Trade Nothing in this article is financial advice. Trading involves significant risk of loss. --- # A Tour of the Hyperbeat Trade Interface Source: https://hyperbeat.org/blog/hyperbeat-trade-interface-tour The Hyperbeat Trade screen packs a lot of information into one view. This guide walks through every panel so you always know where to look. All data on the page updates in real time. ## Market ticker tape The scrolling strip across the top shows the most active markets by volume with their live prices and 24 hour moves. Click any of them to jump straight to that market. ## Favorites bar Once you star markets in the market selector, they appear in a favorites bar above the chart. A small toggle switches between showing dollar change and percentage change. This is the fastest way to hop between the markets you trade most. ## Market selector Click the market name, or press Ctrl+K (Cmd+K on Mac), to open the market selector. It has tabs for Favorites, All, Perps, and Spot, plus category filters for Crypto, Stocks, ETF, Commodities, FX, and Indices. Each row shows the Symbol, Last Price, 24H Change, an 8H Funding column, Volume, and Open Interest, and every column is sortable. A star next to each market adds it to your favorites. Categories with no live markets are hidden automatically. ## Market stats strip Next to the market name you will find the key numbers for the selected market: - Mark: the price used to value positions and calculate liquidations. It blends outside exchange prices with Hyperbeat's own order book so a single rogue trade cannot move it. - Oracle: the external reference price of the underlying asset, used for funding. - 24H Change and 24H Volume: how far the market has moved and how much has traded. - Open Interest: the total value of all open positions in this market. - Funding / Countdown: the current funding rate and a live countdown to the next payment, which happens every hour. Hover over it for an explanation and an annualized figure. Spot markets show Market Cap instead of the perp-specific stats (Oracle, Open Interest, and Funding). ## Chart The chart is a full TradingView charting experience with drawing tools, indicators, and timeframes from 1 minute up to 1 day. It does more than display price: - Your entry price, liquidation price, take profit, stop loss, and open limit orders are drawn as lines on the chart. - You can drag take profit, stop loss, and limit order lines to modify them without opening any dialog. ## Order book The Orderbook panel shows live buy orders (bids, in green) and sell orders (asks, in red) with three columns: Price, Size, and Total. The row in the middle shows the spread, which is the gap between the best bid and the best ask. You can change the price grouping with the aggregation selector and switch sizes between the asset and USDC. Reading the book well is a skill of its own; see our order book guide for the details. ## Order form The order form at the top right is where you place trades. It has tabs for Market and Limit orders, plus a Pro dropdown for advanced types: TWAP and Scale on any market, and Stop and Take orders (each in Market and Limit form) on perps. The Pro tab relabels itself to whichever advanced type you pick. On perp markets, two buttons sit above the form: your margin mode (Cross or Isolated) and your leverage for this market. Below your size input, the form shows everything you need to check before committing: Liquidation Price, Order Value, Margin Required, estimated and maximum slippage, and your fee rates. We cover every order type in the order types guide. ## Account card The account card summarizes your trading account: - Total Equity: everything you hold in the trading account, including unrealized profit and loss. - Unified Account: a group of whole-account metrics, since Hyperbeat shares one balance across spot and perps. It shows your Unrealized P&L, Unified Account Ratio (maintenance margin against equity), Perps Maintenance Margin, and Unified Account Leverage. The leverage and margin guide explains each. - Action buttons: Add Funds, Borrow to Trade, and Withdraw. ## Bottom tabs The panel along the bottom is your control center for everything you have open and everything you have done: - Balances: each asset you hold, with total, available, and USDC value. A Hide Small Balances toggle clears out dust, and each USDC balance has Sweep to Card and Send to Bank actions. - Positions: every open position with size, entry price, live PnL, liquidation price, margin, and funding paid. A Close All column gives you Limit, Market, and Reverse buttons, and a separate TP/SL column lets you attach or edit a take profit and stop loss. - Open Orders: resting orders that have not filled yet, with a cancel button per order and a Cancel All. - TWAP: your active TWAP orders with live progress bars, plus history. - Funding History: every funding payment you have paid or received, exportable as CSV. - Trade History: every fill, with price, size, fee, and PnL, and a toggle to aggregate fills by order. A filter in the toolbar switches the view between All Markets, Perp Only, and Spot Only. ## Putting it together A typical flow looks like this: find a market in the selector, check the chart and the stats strip, glance at the order book for liquidity, place the order in the order form, then manage the position from the Positions tab and the lines on the chart. ## Keep learning - Order types on Hyperbeat Trade - Reading the order book - Managing positions with take profit and stop loss Nothing in this article is financial advice. --- # Funding Your Trading Account: Deposits and Withdrawals Source: https://hyperbeat.org/blog/funding-your-trading-account Before you can trade, you need funds in your trading account. Hyperbeat is built so that money can reach your account from almost anywhere, and leave to almost anywhere, without you worrying about gas or bridges. This guide covers every route in and out. ## One balance for everything Hyperbeat Trade uses a unified account. Your USDC and your spot assets share one balance that backs both spot trades and perp positions. There is no separate futures wallet to top up, and profits from one market are immediately available as collateral in another. ## What you can deposit Open the deposit dialog with the Add Funds button on the account card. Supported assets are grouped into stablecoins and crypto: - USDC, the main trading collateral - USD, your Hyperbeat dollar balance - BTC, ETH, and SOL - XAUT0, tokenized gold ## Where you can deposit from For each asset, Hyperbeat offers several sources. Pick whichever matches where your money currently lives: - Deposit Address: a personal address you can send USDC to from any wallet or centralized exchange. The simplest route if your funds sit on an exchange like Coinbase or Binance. - HyperCore Spot: move USDC, BTC, ETH, or SOL you already hold on Hyperliquid. Free and instant. - HyperEVM: deposit USDC from a wallet on the HyperEVM network. Free and instant. - Native Chain: send BTC, ETH, or SOL directly from their home networks. This takes as long as the source chain needs, and you pay that network's transfer fee. - USD Balance: convert your Hyperbeat USD balance into trading collateral. No fee, instant. - Spending Account: pull BTC, ETH, SOL, or XAUT0 from your Liquid Bank spending account. Free. You never pay Hyperbeat gas or need to hold a gas token. The free, instant routes cover most deposits; only the Native Chain and cross-chain deposit-address routes carry the source network's own fee, and it is shown before you confirm. ## Withdrawing your funds Press Withdraw on the account card to open the withdrawal dialog. For USDC you have two main destinations: - Transfer: move funds to your Hyperbeat spending account, where they can back your card and everyday payments. - External Wallet: send USDC to a wallet on HyperEVM or another network. For crypto assets like BTC, ETH, SOL, and XAUT0, withdrawals go to your Liquid Bank account inside Hyperbeat. ## Withdrawing to other networks When you withdraw USDC to an external wallet, you are not limited to one chain. Hyperbeat routes withdrawals through Relay, which reaches around fifteen networks: Arbitrum, Base, Optimism, Ethereum, Polygon, BNB Chain, Solana, Avalanche, Tron, Bitcoin, TON, Robinhood, Lighter, Tempo, and Hyperliquid itself. A few things make this flow beginner friendly: - You can choose what to receive on the destination chain. On many networks you can land in USDC, USDT, or even the network's native asset like ETH or SOL. - The dialog shows live availability and the network fee before you confirm. - Addresses are validated for the destination network, so you cannot accidentally send an EVM address format to a Solana withdrawal. Transfers are typically near instant once the withdrawal is processed. ## Borrow to Trade Next to Add Funds you will find Borrow to Trade. Instead of selling assets to raise trading collateral, you can borrow against them through Hyperbeat's lending integration and trade with the borrowed funds. Borrowing adds its own risks and interest costs, so treat it as an advanced option and understand the terms before using it. ## Sweep to Card and Send to Bank Balances in your trading account are not stuck there. From the Balances tab, each USDC balance gives you two ways out: - Sweep to Card: move funds to your Hyperbeat card, turning trading profits into spendable money in a couple of clicks. Spot balances in other tokens can sweep too; they are swapped to USDC first. - Send to Bank: cash out USDC to an external bank account you have set up, without leaving the app. ## Common questions - How long do deposits take? Deposits from Hyperbeat accounts are near instant. External deposits depend on the source network's confirmation time. - Do I pay gas? You never pay Hyperbeat gas or hold a gas token. The only external cost is a network's own fee on native-chain and cross-chain transfers, always shown before you confirm. - Is there a minimum? Small amounts work fine for testing, though very small trades can be limited by each market's minimum order size. ## Keep learning - Getting started with Hyperbeat Trade - Fees on Hyperbeat Trade - Risk management basics for new traders Nothing in this article is financial advice. --- # Order Types on Hyperbeat Trade, Explained Source: https://hyperbeat.org/blog/order-types-on-hyperbeat-trade The order form on Hyperbeat Trade has three tabs: Market, Limit, and Pro. The Pro tab is a dropdown of advanced types that relabels itself to whichever one you pick. Between them they cover everything from a simple instant buy to automated execution strategies. This guide explains each type in plain language, with the situations where it shines. ## Market orders: fill now, at the going price A market order executes immediately against the best prices in the order book. You choose your size, press Place Order, and you are in. The trade-off is price certainty. Because a market order takes whatever liquidity is available, large orders can push through several price levels. This difference between the expected price and your actual fill is called slippage. The order form shows you an estimated slippage before you submit, and a maximum slippage setting protects you from extreme fills. The default maximum is 8 percent, and you can change it by clicking the slippage row. Closing a position uses the same 8 percent cap, and a triggered take profit or stop loss that fires as a market order uses a 10 percent cap. Use market orders when getting in or out right now matters more than the exact price. ## Limit orders: name your price A limit order rests in the order book at a price you choose and only fills at that price or better. Buying below the current price or selling above it means you might wait, and the order may never fill, but you will never pay more than the price you set. The form includes a Mid button that fills the price field with the current midpoint between the best bid and ask, a convenient starting point to adjust from. Limit orders come with a time-in-force setting that controls how the order behaves: - GTC (Good Til Canceled): the order rests in the book until it fills or you cancel it. This is the default. - IOC (Immediate or Cancel): fill whatever is possible right now and cancel the rest. Nothing rests in the book. - ALO (Add Liquidity Only): the order only goes through if it rests in the book as a maker order. If it would execute immediately, it is rejected. Use this to guarantee you pay maker fees rather than taker fees. ## Pro orders: the advanced menu The Pro tab opens a dropdown of advanced order types. TWAP and Scale work on any market; the Stop and Take types are available on perps only. On a spot market, the Pro menu offers just TWAP and Scale. ### TWAP: spread a large order over time A TWAP (time-weighted average price) order splits your order into small slices executed at regular intervals over a duration you choose, from 5 minutes up to 7 days. Instead of one big order that moves the market, you get many small fills averaging out the price over the period. The interval between slices is calculated from your total size and running time, with 30 seconds as the minimum: larger orders over shorter durations send slices as often as every 30 seconds, while smaller orders over longer durations space them further apart. Each TWAP order must be at least $100 in total, and each slice at least $10. There is also a Randomize switch that varies the timing of the slices to make your execution less predictable to other traders. Use TWAP when your order is large relative to the market's liquidity, or when you want to average into a position rather than commit at a single price. ### Scale: a ladder of limit orders A Scale order places a series of limit orders across a price range you define. You set a start price, an end price, and how many orders to split your size into, from 2 up to 100. A size skew setting lets you weight the orders, for example placing more size at better prices. Use Scale when you want to accumulate gradually into a falling market or take profit progressively into a rising one, without placing each order by hand. ### Stop Market and Stop Limit: act when price breaks a level A stop order sits dormant until the market reaches your trigger price, then activates: - Stop Market fires a market order when the trigger is hit. Execution is near certain, price is not. - Stop Limit places a limit order at your chosen price when the trigger is hit. Price is controlled, execution is not guaranteed. Stops are most often used to cut losses automatically, but they can also open positions on a breakout, for example buying only if the price pushes above a resistance level. ### Take Market and Take Limit: lock in profits at a target Take orders are the mirror image of stops. They trigger when the price reaches a favorable level and close or open a position to capture it. Take Market executes immediately at trigger, Take Limit places a limit order at your specified price. ## Options you can attach to orders - Reduce Only: guarantees the order can only shrink or close an existing position, never open or grow one. Essential for exits, because it prevents an oversized close from accidentally flipping you into the opposite direction. If an order without Reduce Only would flip you from long to short (or the reverse), Hyperbeat shows a flip confirmation before it goes through. - Take Profit / Stop Loss: when opening a position, you can attach TP and SL in the same ticket. Enter a trigger price, or simply the gain or loss you want in percent or dollars, and the form computes the rest. Your exit plan goes live the moment your entry fills. These attached exits fire as market orders at their trigger; if you want a limit price on an exit, set it from the TP/SL controls on the open position instead (see the managing positions guide). ## Before you press Place Order The details rows under the form are your pre-flight checklist: Liquidation Price, Order Value, Margin Required, estimated and maximum slippage, and your fee rates. A confirmation dialog summarizes the order; once you are comfortable, you can enable Don't show this again for one-click trading. ## Keep learning - Leverage and margin explained - Managing positions with take profit and stop loss - Reading the order book Nothing in this article is financial advice. --- # Leverage and Margin Explained: Cross vs Isolated Source: https://hyperbeat.org/blog/leverage-and-margin-explained Leverage is the defining feature of perpetual futures, and margin is what makes it possible. Understanding both is not optional: they decide how much you can win, how much you can lose, and how close you sit to liquidation. This guide covers the mechanics as they work on Hyperbeat Trade. ## What margin actually is Margin is the collateral you set aside to back a position. Think of it as a security deposit. The exchange holds it to make sure that if the trade goes against you, there is money to cover the loss. The formula is simple. The margin required to open a position is the position's value divided by your leverage: - A 1,000 USDC position at 10x leverage requires 100 USDC of margin. - The same position at 2x leverage requires 500 USDC. The order form shows Margin Required before you place every trade, so you never need to compute this yourself. ## Choosing your leverage Above the order form you will find a leverage button showing your current setting, for example 10x. Click it to open the leverage dialog, where a slider and input let you pick anything from 1x up to that market's maximum. Maximum leverage varies by market and is shown as a badge in the market selector; major markets allow higher leverage than smaller, more volatile ones. Your leverage choice is saved per market, so your BTC setting does not affect your ETH setting. One honest warning, straight from the dialog itself: setting a higher leverage increases the risk of liquidation. Higher leverage does not just increase potential profit, it moves your liquidation price closer to your entry. ## Cross vs isolated margin Next to the leverage button is the margin mode button, showing Cross or Isolated. This choice controls what collateral backs your position, and it matters enormously. ### Cross margin In cross mode, all your positions share your entire account balance as collateral. Benefits: - Maximum capital efficiency. Unrealized gains on one position can support margin on another. - More room before liquidation, because your whole balance absorbs losses. The cost: a single bad position can eat into the collateral backing everything else. In the worst case, one runaway loss can take down your whole account. ### Isolated margin In isolated mode, you assign a fixed amount of margin to the position. That is all it can lose. If the position is liquidated, your other funds and positions are untouched. You can add or remove margin on an isolated position after opening it, using the pencil icon in the Margin column of the Positions tab. Adding margin pushes your liquidation price further away. A few markets use a strict isolated mode that lets you add margin but not remove it; there, the margin only comes back as you close the position. The cost of isolation: less staying power. The position can only draw on its own margin, so it liquidates sooner than the same position would in cross mode. ### Which should a beginner use? There is no universally correct answer, but a useful default: use isolated margin while learning, sized so that losing the entire margin on one trade is acceptable. It turns every position into a defined-risk bet. Cross margin is powerful for experienced traders running multiple positions, and dangerous when you have not yet felt what fast markets do to an account. Note that some markets only support isolated margin, including the HIP-3 markets that track stocks, commodities, and similar assets. The interface locks the mode to Isolated for those. The box below explains the full set of modes Hyperliquid uses beneath the surface. ## Initial margin vs maintenance margin Two thresholds govern every position: - Initial margin is what you need to open the position: position value divided by leverage. - Maintenance margin is the minimum collateral required to keep it open. On Hyperliquid, maintenance margin is half of the initial margin at maximum leverage. If your equity backing a position falls below maintenance margin, liquidation begins. You do not need to memorize the formulas. The key intuition: there is a buffer between "cannot open new positions" and "getting liquidated," and the maintenance threshold is the one that really hurts. Our liquidation guide walks through it with numbers. ## Under the hood: Hyperliquid margining Hyperbeat Trade runs on Hyperliquid, so the margin rules are Hyperliquid's. The essentials in one place: - Initial margin equals position value divided by leverage. Maintenance margin is half the initial margin at the market's maximum leverage, which works out to roughly 1.25 percent of position value on a 40x market and about 16.7 percent on a 3x market. - Liquidation begins when the equity backing a position falls below its maintenance margin, measured against the mark price, not the last trade. - Hyperliquid has four margin modes: cross, isolated, strict isolated (margin cannot be removed), and no-cross (isolated only, used by HIP-3 markets). You choose between Cross and Isolated; the stricter variants apply automatically where a market requires them. - When you remove margin from an isolated position, Hyperliquid keeps a cushion: your remaining margin must stay above the larger of the initial margin requirement and 10 percent of the position value. That is why the MAX removable amount stops short of everything. ## Your account health dashboard Because Hyperbeat uses a unified account with one balance across spot and perps, the account card shows metrics for your account as a whole: - Total Equity: the full value of your trading account including unrealized profit and loss. - Unrealized P&L: how your open positions are doing right now. - Perps Maintenance Margin: the total maintenance requirement of all your perp positions. - Unified Account Ratio: perps maintenance margin divided by total equity. The closer this gets to 100 percent, the closer your cross positions are to liquidation. Keep it low. - Unified Account Leverage: your total perps position value divided by total equity. This is your real, account-wide leverage, which can differ from the per-market setting. Checking these two or three numbers once in a while is the simplest habit that separates careful traders from liquidated ones. ## Keep learning - Understanding liquidation and how to avoid it - Order types on Hyperbeat Trade - Risk management basics for new traders Nothing in this article is financial advice. --- # Understanding Liquidation and How to Avoid It Source: https://hyperbeat.org/blog/understanding-liquidation Liquidation is the word every leveraged trader learns to respect. It is the mechanism that closes your position when losses approach your collateral, and it is the single most expensive lesson in perps trading. The good news: it is predictable, visible in advance, and avoidable with a few habits. ## What liquidation is When you trade with leverage, your margin backs a position larger than your deposit. The exchange must ensure your losses never exceed the collateral you posted. So when the market moves against you far enough that your remaining margin falls below a safety threshold called maintenance margin, the exchange steps in and closes your position at market. That is liquidation. For an isolated position, you lose the margin assigned to that position. For cross positions, losses draw on your whole account balance, which gives you more room but puts more at stake. ## The two margin thresholds - Initial margin is what you post to open a position: position value divided by your leverage. - Maintenance margin is the minimum required to keep the position open. On Hyperliquid it is set at half of the initial margin at maximum leverage. Liquidation triggers when your equity backing the position falls below this level. Notice something important: maintenance margin depends on the market's maximum leverage, not your chosen leverage. Trading at low leverage on a high-leverage market gives you a very wide buffer. ## A worked example Suppose BTC trades at 100,000 USDC and its market allows up to 40x leverage. Maintenance margin at max leverage would be half of 1/40, which is 1.25 percent of position value. You open a long worth 10,000 USDC using 10x leverage, posting 1,000 USDC of isolated margin. - Your maintenance requirement is 1.25 percent of 10,000, which is 125 USDC. - You get liquidated when losses eat your margin down to that level, roughly an 875 USDC loss. - That is about an 8.75 percent drop in BTC's price. At 10x leverage, less than a 9 percent move ends the trade. Run the same trade at 3x leverage with 3,333 USDC of margin and the market needs to fall roughly 32 percent before liquidation. Same position size, radically different survivability. You never have to do this math yourself. The order form shows your estimated Liquidation Price before you place the order, the Positions tab shows it live for every open position, and it is drawn as a line on the chart. ## Mark price, not last price Liquidations are calculated using the mark price rather than the last traded price. The mark price blends quotes from major outside exchanges with Hyperbeat's own order book, so a single rogue trade printing far from the real market cannot push you into liquidation. Your liquidation triggers on where the market genuinely is, not on one outlier tick. ## Under the hood: how a liquidation actually runs On Hyperliquid, a liquidation is not one brutal event. When your equity hits the maintenance threshold, the system first tries to close your position with ordinary market orders into the book, and you keep any collateral left over. Only if your equity keeps falling, below roughly two-thirds of the maintenance margin, does a backstop step in: a liquidator vault takes over the position, and any surplus flows to the community pool (HLP) rather than to the exchange. Importantly, there is no separate liquidation or clearance fee. For an isolated position only that position and its margin are at stake; for cross positions your whole cross balance is on the line. If you like formulas, the liquidation price is: liq_price = price − side × margin_available / position_size / (1 − l × side) where side is +1 for a long and −1 for a short, l is 1 divided by the market's maximum leverage, and margin_available is your account value (cross) or the position's isolated margin, each minus the maintenance requirement. The order form computes this for you; the formula just shows what moves it. ## How to avoid liquidation - Use less leverage. This is 90 percent of the answer. Liquidation distance scales with leverage: at 20x a roughly 5 percent move can end you, at 3x you can survive a crash. - Always check the liquidation price before confirming an order. If a normal day's volatility could reach it, your position is too big. - Use stop losses. A stop loss closes your position at a level you choose, before liquidation does it for you at a worse one. Liquidation should be the backstop you never touch, not your exit plan. - Add margin to isolated positions when needed. The pencil icon in the Margin column lets you add collateral and push the liquidation price away. Do this deliberately, not as a reflex to defend a losing trade. - Watch your Unified Account Ratio. For cross positions, the account card shows maintenance margin against total equity. If that ratio climbs toward 100 percent, reduce positions or add funds. - Beware of funding drains. If you hold a position for weeks, funding payments can slowly erode the margin cushion you started with. ## If you do get liquidated It happens to almost everyone once. Treat it as tuition: review what leverage you used, where your liquidation price was relative to normal volatility, and whether a stop loss would have saved most of the position. Then size smaller. The traders who last are not the ones who never lose, they are the ones whose losses stay survivable. ## Keep learning - Leverage and margin explained - Managing positions with take profit and stop loss - Risk management basics for new traders Nothing in this article is financial advice. --- # Funding Rates Explained Source: https://hyperbeat.org/blog/funding-rates-explained Perpetual futures never expire, which raises a question: what keeps the perp price glued to the real price of the asset? The answer is the funding rate, a small periodic payment between traders. If you hold positions for more than a few hours, funding directly affects your bottom line, so it is worth five minutes to understand. ## The problem funding solves A traditional futures contract has an expiry date, and at expiry it settles to the real price. That settlement anchors the contract's price to reality. A perpetual contract never settles, so without a substitute mechanism, its price could drift far from the actual market. Funding is that substitute. It uses a simple incentive: make the crowded side of the market pay the uncrowded side. ## Who pays whom - When the perp trades above the underlying price, meaning longs are dominant, the funding rate is positive and longs pay shorts. Holding a long costs money, holding a short earns money, and the pressure nudges the perp price back down. - When the perp trades below the underlying price, the rate is negative and shorts pay longs, nudging the price back up. The payment flows directly between traders. The exchange does not take it. ## How often and how much On Hyperliquid, which powers Hyperbeat Trade, funding changes hands every hour. Hyperliquid computes the rate as an 8 hour figure and charges one eighth of it each hour, so a position pays or receives a small amount for every hour it stays open. The countdown next to the market name ticks down to the next hourly payment. The amounts are small per hour. Say the current rate is 0.001 percent per hour. On a 10,000 USDC position that is about 0.10 USDC each hour, or roughly 2.40 USDC a day. That sounds trivial, but two things can make it bite: - Leverage. Funding is charged on your full position value, not your margin. On a 20x position, funding relative to your actual margin is 20 times larger. - Time. During strong trends, funding can run high for weeks. Annualized, a persistently elevated rate can exceed 30 or even 100 percent against the crowded side. ## Under the hood: how Hyperliquid sets the rate The funding rate is built from two parts: an interest component and a premium. - Interest is a fixed 0.01 percent per 8 hours (0.00125 percent per hour), the baseline longs pay shorts when the market is balanced. - Premium reflects how far the perp is trading from the oracle price of the underlying, using the order book's impact prices. The full rate is `premium + clamp(interest − premium, ±0.05%)`, and Hyperliquid caps funding at 4 percent per hour so it can never run away in a violent market. Each hour, your payment is `position size × oracle price × funding rate`, so it is measured against the position's full notional value, not your margin. You never compute this yourself, but it explains why the number moves the way it does. ## Where to see funding on Hyperbeat Trade - The stats strip next to the market name shows the current funding rate and a live countdown to the next hourly payment. Hover over it for an annualized figure. - The market selector has an 8H Funding column for every market, sortable, which is handy for comparing markets and spotting extremes. - The Positions tab has a Funding column showing the cumulative funding your position has paid or received since it opened. - The Funding History tab records every individual payment, and you can export it as CSV. ## What funding means for your trading - Short-term traders can mostly ignore it. If you are in and out within minutes or hours, funding is a rounding error next to spreads and fees. - Position holders must budget for it. If you plan to hold a long for a month while funding is strongly positive, you are paying rent the whole way. Factor it into your target. - Funding is a sentiment gauge. Extremely positive funding means the market is heavily long, which often accompanies overheated moves. Extreme readings in either direction are worth noticing, though they are not a timing signal by themselves. - Getting paid to hold. If your position happens to be on the uncrowded side, funding works for you. Some traders build entire strategies around collecting funding while hedged, but that is an advanced topic with its own risks. ## The one-line summary Funding is the perp market's balancing mechanism: the crowded side pays the uncrowded side, hourly, until prices realign. Check the rate before you open a position you intend to hold, and glance at your cumulative funding in the Positions tab while it is open. ## Keep learning - What are perpetual futures? - Managing positions with take profit and stop loss - Fees on Hyperbeat Trade Nothing in this article is financial advice. --- # Managing Positions: Take Profit, Stop Loss, and Closing Source: https://hyperbeat.org/blog/managing-positions-take-profit-stop-loss Opening a trade is the easy part. What separates disciplined traders from lucky ones is what happens next: defining exits, protecting downside, and closing with intention. This guide covers every position management tool on Hyperbeat Trade. ## Reading the Positions tab Every open position appears in the Positions tab at the bottom of the trade screen. Here is what each column tells you: - Market and direction: the asset, colored green for long and red for short, with your leverage. - Size and Position Value: how big the position is, in the asset and in dollars. - Entry Price: your average entry, weighted across fills. - PNL (ROE %): your unrealized profit or loss, with return on equity in percent. ROE is measured against your margin, so it moves faster than the raw price change. - Liq. Price: the price at which the position would be liquidated. Know this number. - Margin: the collateral backing the position, marked Cross or Isolated. - Funding: cumulative funding paid or received since the position opened. Your entry price and liquidation price are also drawn as lines directly on the chart, so you can see them against the price action. ## Take profit and stop loss: your exit plan A take profit (TP) automatically closes your position when the price reaches a target in your favor. A stop loss (SL) automatically closes it when the price moves against you beyond a level you set. Together they define your trade before emotions get a vote. There are two ways to set them: - When opening a trade: flip the Take Profit / Stop Loss switch in the order form. Your TP and SL are attached to the order and go live the moment it fills. - On an existing position: click the pencil in the TP/SL column of the Positions tab. The TP/SL dialog is flexible: - Enter a trigger price directly, or just type the gain or loss you want, in percent or dollars, and the price is calculated for you. Percentages are measured on your margin, so they account for leverage. - By default, TP and SL apply to your entire position and execute as market orders when triggered. - Configure Amount lets you apply them to only part of the position, for example taking profit on half and letting the rest run. - The Limit Price option makes the triggered order a limit order instead of a market order, giving you price control at the cost of guaranteed execution. One power feature worth knowing: TP and SL lines appear on the chart, and you can drag them to adjust the levels without opening any dialog. ## Closing a position The Close All column gives you three buttons per position, in order Limit, Market, and Reverse: - Limit: opens a Limit Close dialog that places a reduce-only limit order to close at a price you choose, with a Mid button to start from the midpoint. Useful for exiting into strength rather than hitting the market. - Market: closes immediately at the current price. The Market Close dialog includes a Close Amount slider that snaps to 25, 50, 75, or 100 percent, so you can trim part of the position instead of all of it. Partial closes are sent as reduce-only orders, which guarantees they can never flip you into the opposite direction. - Reverse: closes your position and opens an equal one in the opposite direction in a single action, by sending a double-sized market order. This is an aggressive move for when your view has flipped completely; a confirmation dialog makes sure you mean it, and you can turn that confirmation off for next time. ## Adjusting margin on isolated positions If a position uses isolated margin, a pencil icon in the Margin column opens the Adjust Margin dialog. Adding margin moves your liquidation price further away; removing margin frees collateral but brings liquidation closer. A MAX button shows the limits in each direction, and the removable maximum stops short of your full margin because Hyperliquid keeps a safety cushion. On strict isolated markets you can add margin but not remove it. Use this deliberately. Adding margin to defend a losing trade is one of the most common ways small losses become large ones. Decide in advance how much a trade is allowed to lose, and let the stop loss do its job. ## Habits that keep you out of trouble - Set the stop loss when you open the trade, not after it starts hurting. - Place stops beyond your liquidation risk: your stop should always trigger well before your liquidation price. - Consider partial take profits. Banking some profit at a first target while trailing the rest is easier psychologically and often better statistically than all-or-nothing exits. - Check the Funding column on positions you hold for days. It quietly compounds. - Review your Trade History tab weekly. Your actual fills, fees, and PnL tell you more about your trading than your memory does. ## Keep learning - Order types on Hyperbeat Trade - Understanding liquidation and how to avoid it - Risk management basics for new traders Nothing in this article is financial advice. --- # Reading the Order Book Like a Trader Source: https://hyperbeat.org/blog/reading-the-order-book The order book looks intimidating at first: two columns of flickering numbers in red and green. But it answers a question no chart can: who wants to buy, who wants to sell, at what price, and in what size, right now. Ten minutes with this guide and it will start making sense. ## What the order book shows The order book is the live list of all resting limit orders in a market: - Asks, shown in red at the top, are sell orders. These are traders offering to sell at each price. The lowest ask is the cheapest price you can buy immediately. - Bids, shown in green at the bottom, are buy orders. The highest bid is the best price you can sell into immediately. Each row has three columns: Price, Size at that price, and Total, which is the running sum of size from the middle outwards. Total tells you how much you could buy or sell before pushing the price past that level. ## The spread Between the best ask and the best bid sits the spread, displayed in its own row in the middle of the book. The spread is the cost of immediacy: buy at the ask, sell at the bid, and you have paid the spread without the price moving at all. Tight spreads mean an actively traded, liquid market. Wide spreads mean fewer participants, and they make frequent in-and-out trading expensive. Major markets on Hyperbeat Trade typically have very tight spreads; smaller markets deserve a look at the book before you size up. ## Depth: how much can this market absorb? Depth is the total size resting near the current price. A deep book absorbs large orders with little price movement. A shallow book means even modest market orders will walk through several price levels, filling at progressively worse prices. This is exactly what slippage is. When you enter a market order in the order form, Hyperbeat estimates your slippage by walking your order through the live book. If you see a high estimate, the book is telling you your order is large relative to available liquidity. Options: reduce size, use a limit order, or use a TWAP order to spread execution over time. ## Makers and takers Every trade has two sides with different roles: - A maker places a resting order that waits in the book, providing liquidity. - A taker places an order that executes immediately against resting orders, consuming liquidity. Exchanges want deep books, so maker fees are lower than taker fees. On Hyperbeat Trade your two rates are shown in the order form. If you want to guarantee maker treatment, use a limit order with ALO (Add Liquidity Only) time-in-force: it will only go through if it rests in the book. ## Practical ways to use the book - Place smarter limit orders. Instead of guessing entry prices, look at where liquidity actually sits. The Mid button starts you at the midpoint, then adjust. - Gauge your true cost to exit. Before entering a position, check the Total column for the size you would need to close. In a thin market, getting out can cost more than getting in. - Adjust the view. The aggregation selector groups price levels into coarser buckets, useful for seeing the bigger structure. You can also toggle sizes between the asset and USDC, whichever you think in. - Click to fill. Clicking a price in the book loads it into the order form, a small shortcut that saves typos. ## A word of caution about reading intent Traders sometimes try to read direction from the book, treating big bids as support or big asks as resistance. Be careful: resting orders can be canceled in an instant, and large players know everyone is watching. Treat the book as a measure of liquidity and cost, not as a crystal ball. ## Keep learning - Order types on Hyperbeat Trade - A tour of the Hyperbeat Trade interface - Fees on Hyperbeat Trade Nothing in this article is financial advice. --- # Markets on Hyperbeat Trade: Perps, Spot, Stocks, and More Source: https://hyperbeat.org/blog/markets-perps-spot-and-beyond Hyperbeat Trade is more than a crypto perps venue. From the same screen and the same balance, you can trade crypto perpetuals, buy and sell spot assets, and take positions on markets tracking stocks, ETFs, commodities, currencies, and indices. This guide explains the market types and how to find your way around them. ## Perpetual markets Perps are the flagship product: leveraged contracts on the price of an asset, with no expiry, settled in USDC. You can go long or short, choose your leverage up to each market's maximum, and manage the position with take profit, stop loss, and everything else covered in our other guides. If perps are new to you, start with our beginner's guide to perpetual futures before trading them. ## Spot markets Spot is the simple one: you buy the actual token and it lands in your balance. No leverage, no funding rate, no liquidation price. Sell it whenever you like. A few things to know about spot on Hyperbeat Trade: - The order form shows plain Buy and Sell buttons instead of Long and Short. - The stats strip shows Market Cap rather than perp metrics like open interest and funding. - Your spot holdings appear in the Balances tab, and thanks to the unified account they also count toward the collateral backing your perp positions. Spot suits assets you want to genuinely own and hold. Perps suit directional trades and anything you want leverage or short exposure on. ## Beyond crypto: stocks, ETFs, commodities, FX, and indices The market selector has category tabs that reveal the full range: Crypto, Stocks, ETF, Commodities, FX, and Indices. These markets track things like major tech stocks, index products, gold, and currency pairs, all tradable with the same USDC collateral and the same interface, around the clock. These markets are built on Hyperliquid's builder-deployed market standard, which lets specialized teams launch and operate markets beyond native crypto perps. On Hyperbeat Trade you will notice a few differences: - A deployer badge appears next to the market name, showing who operates the market. - A Details link near the badge explains how that market tracks its underlying and any special rules, with a Learn more link to the market's own documentation. - Many of these markets are isolated margin only, so the margin mode is locked to Isolated. This contains risk per position on newer markets. - Liquidity can be thinner than on major crypto perps. Check the order book and the volume column before sizing up, and consider limit orders over market orders. Keep in mind that these are derivative markets tracking their underlying assets. You are trading price exposure, not owning shares in a company. ## Finding markets Open the market selector by clicking the market name or pressing Ctrl+K (Cmd+K on Mac): - Tabs split the universe into Favorites, All, Perps, and Spot. - Category tabs narrow the list to Crypto, Stocks, ETF, Commodities, FX, or Indices. - Search matches names and symbols as you type. - Columns show Last Price, 24H Change, an 8H Funding column, Volume, and Open Interest, all sortable. Sorting by volume is a quick way to find the most liquid markets; sorting by 24 hour change surfaces the day's big movers. To keep the list clean, the selector only shows markets above a minimum daily volume, and any category with no live markets is hidden automatically. So the exact set of tabs and rows you see can change as markets come and go. Star anything you trade regularly. Favorites get their own tab and a quick-access bar above the chart. You can also navigate directly by URL, for example /trade/BTC for the BTC perp or /trade/HYPE/USDC for a spot pair, which makes markets easy to share. ## A note on prediction markets Hyperbeat also runs prediction markets, where you trade Yes or No on real-world questions rather than the price of an asset. They live on a separate page at /predict, not in the Trade market selector. Our prediction markets guide covers how they work. ## Choosing where to start For most new traders, a sensible progression: - Start with spot on a major asset to learn the interface with zero liquidation risk. - Move to a major crypto perp at low leverage, where liquidity is deepest and spreads are tightest. - Explore the stock, ETF, FX, and commodity markets once you are comfortable with margin, funding, and the mechanics of leveraged positions. ## Keep learning - What are perpetual futures? - Getting started with Hyperbeat Trade - Prediction markets on Hyperbeat Nothing in this article is financial advice. --- # Fees on Hyperbeat Trade: What You Pay and When Source: https://hyperbeat.org/blog/fees-on-hyperbeat-trade Knowing what you pay is part of knowing what you earn. The fee structure on Hyperbeat Trade is simple and fully visible in the interface, but a few concepts are worth spelling out, along with the costs that are not technically fees but affect your results just as much. ## Maker and taker fees Every order pays a trading fee based on its role in the trade: - Taker fees apply when your order executes immediately against resting orders, like a market order or an aggressive limit order. You are taking liquidity from the book. - Maker fees apply when your order rests in the book and someone else trades against it. You are making liquidity, and the market rewards that with a lower rate. Your current rates are displayed right in the order form, in the Fees row, shown as taker and maker percentages. Rates depend on your trading volume: as your volume grows, your fees shrink through Hyperliquid's fee tiers. Fees are charged on the notional value of the trade, meaning the full position size, not just your margin. If you want to make sure an order pays the maker rate, place a limit order with ALO (Add Liquidity Only) time-in-force. It will only execute if it rests in the book first. ## The Hyperbeat builder fee Hyperbeat adds a small builder fee of 0.025 percent on trades. This is how Hyperbeat sustains the product while keeping everything else free: no gas, no deposit fees, no subscription. You approve this fee once during your initial trading setup, and the maximum it can ever be is capped onchain, so it cannot be silently increased beyond what you approved. ## What you do not pay - No gas fees. Orders, cancels, deposits, and withdrawals within Hyperbeat do not require you to hold gas tokens or sign gas-paying transactions. Trading feels like a centralized exchange while your funds stay self-custodial. - No deposit fee from Hyperbeat. Moving money into your trading account is free on Hyperbeat's side. The only exception is an external network's own fee when you deposit from a native chain or bridge in from another network, and it is shown before you confirm. - No liquidation fee. Hyperliquid charges no separate clearance fee when a position is liquidated, unlike many exchanges. - No fee on funding payments. Funding flows between traders; the exchange takes no cut. ## Costs that are not fees Some of the biggest trading costs never appear on a fee schedule: - The spread. Buying at the ask and selling at the bid costs you the spread even if prices never move. Tight on major markets, wider on small ones. - Slippage. Market orders larger than the top of the book fill at progressively worse prices. The order form estimates this before you submit, and your maximum slippage setting caps the worst case. That cap defaults to 8 percent for market orders and closes, and 10 percent for a triggered take profit or stop loss. Large orders can often be executed more cheaply with limit, Scale, or TWAP orders. - Funding. If you hold perp positions across funding intervals, you pay or receive funding hourly. Over weeks this can exceed your trading fees many times over. Check the funding rate before opening positions you plan to hold; our funding guide covers this in depth. ## Seeing what you actually paid Transparency lives in the bottom tabs: - Trade History shows the fee on every fill, alongside price, size, and realized PnL. - Funding History records every funding payment, exportable as CSV for your records or taxes. ## Keeping costs low: a quick checklist - Use limit orders where your strategy allows; maker fees beat taker fees. - Check estimated slippage before submitting market orders, and split large orders with TWAP or Scale. - Mind funding on positions you hold for days or weeks. - Trade liquid markets when possible; spreads are the silent cost of illiquid ones. ## Keep learning - Reading the order book - Funding rates explained - Order types on Hyperbeat Trade Nothing in this article is financial advice. --- # Risk Management Basics for New Traders Source: https://hyperbeat.org/blog/risk-management-basics Ask any trader who has survived a few years and they will tell you the same thing: strategy gets the attention, but risk management pays the bills. New traders rarely blow up because their market view was wrong. They blow up because when they were wrong, they were wrong big. This guide is the set of habits that keep you in the game long enough to get good. ## Rule 1: Size positions so single losses do not matter The most reliable risk rule in trading: risk only a small fraction of your account on any one trade. A common guideline is 1 to 2 percent of your account per trade, where "risk" means the amount you lose if your stop loss is hit, not the position size. An example. With a 1,000 USDC account and a 1 percent risk budget, you can lose 10 USDC per trade. If your stop loss sits 5 percent below your entry, your position size should be about 200 USDC. Note what this implies: your position size is an output of your stop distance and risk budget, not a number you pick because it feels exciting. Sized this way, a losing streak of five trades costs you around 5 percent of your account. Annoying, survivable, recoverable. The same streak with 20 percent risked per trade is the end of the account. ## Rule 2: Treat leverage as a tool, not a lottery ticket Leverage does not change the odds of your trade. It only scales the outcome, in both directions, and moves your liquidation price closer. - Keep leverage low while learning. There is no shame in 2x or 3x. Most professional risk-taking happens at leverage levels that would bore social media. - Check the liquidation price on every order before you confirm it. Hyperbeat shows it in the order form. If a normal volatile day could touch it, the position is too large. - Watch your account-wide leverage on the account card, not just the per-trade setting. Several small positions can add up to one big exposure. ## Rule 3: Decide your exit before you enter Every trade should have two predefined exits: where you take profit and where you accept the loss. On Hyperbeat you can attach both to the order itself with the Take Profit / Stop Loss switch, so your plan goes live the moment your entry fills. Why before, and not after? Because once money is moving, your judgment is worse. The trader who sets a stop loss calmly before entering is smarter than the same trader deciding mid-drawdown whether to hold "just a bit longer." Two supporting habits: - Never widen a stop loss. Moving your stop away from the price to avoid taking the loss converts a small planned loss into an unplanned large one. - Do not use liquidation as your stop. Liquidation exits you at the worst price with the maximum loss. Your stop should always trigger well before it. ## Rule 4: Respect the costs Fees, spread, slippage, and funding each look tiny in isolation. Together, over dozens of trades, they decide whether a marginal strategy makes or loses money. Prefer liquid markets, check estimated slippage before market orders, use limit orders when your approach allows, and mind the funding rate on positions you hold. Our fees guide breaks these down. ## Rule 5: Manage yourself The market is only half the problem. The most expensive patterns in trading are behavioral: - Revenge trading: doubling size right after a loss to win it back. This is how bad days become account-ending days. After a painful loss, step away. - Overtrading: taking trades out of boredom rather than conviction. Every trade pays costs; only good trades pay you. - Averaging into losers with leverage: adding to a losing leveraged position drags your liquidation price toward the market. It is the opposite of a plan. - Ignoring the record: your Trade History tab is an honest mirror. Review it weekly. Which trades made money? Which habits lost it? ## Rule 6: Start small, scale with evidence Trade a size where losses genuinely do not stress you for your first months. Increase size only when your own track record, not your confidence, says your process works. The market will still be there next year; most new traders' accounts are not, and the difference is almost always risk management. ## The checklist Before every trade, five seconds of discipline: - Do I know my stop loss and take profit levels? - Is my risk on this trade around 1 to 2 percent of my account? - Is my liquidation price far outside normal volatility? - Have I checked the slippage estimate and fees? - Am I taking this trade for a reason, or a feeling? ## Keep learning - Understanding liquidation and how to avoid it - Leverage and margin explained - Managing positions with take profit and stop loss Nothing in this article is financial advice. Trading involves significant risk of loss, and no risk management technique eliminates it. --- # Prediction Markets on Hyperbeat, Explained Source: https://hyperbeat.org/blog/predict-markets-explained Alongside perps and spot, Hyperbeat runs prediction markets. Instead of trading the price of an asset, you trade the outcome of a real-world question: will an event happen or not. They live on their own page at /predict, separate from the Trade screen, and settle in USDC. This guide explains how they work. ## What a prediction market is A prediction market turns a question into something you can trade. "Will this team win the tournament?" "Will this number land above a threshold by a certain date?" Each question resolves to one answer, Yes or No, once the real-world result is known. Until then, you can buy and sell your view on the outcome. The price of a market is a live estimate of how likely the crowd thinks the answer is Yes. ## Yes and No shares Every question has two sides, Yes and No, and each is a share priced between 0 and 1 dollar: - A Yes share pays 1 USDC if the answer turns out to be Yes, and nothing if it is No. - A No share pays 1 USDC if the answer turns out to be No, and nothing if it is Yes. Because a winning share always pays exactly 1 USDC, the current price reads directly as a probability. Hyperbeat shows this as the % Chance in the market's stats, next to Price (Yes). A Yes share trading at 0.40 means the market prices the event at roughly a 40 percent chance. Here is the intuition with numbers. You buy Yes at 0.40 USDC per share: - If the event happens, each share pays 1 USDC. You made 0.60 per share. - If it does not, the shares expire worthless and you lose your 0.40 per share. You do not have to hold to the end. As the odds move, the price of your shares moves with them, and you can sell to lock in a gain or cut a loss at any time before the market settles. ## Single questions and multi-outcome markets Some markets are a single Yes or No question. Others bundle many possible outcomes under one event, for example each team in a tournament. In a multi-outcome market, the page lists every outcome as its own row with its own Yes and No prices and % chance, and a search box helps when the list is long. Pick the outcome you want a view on, then choose Yes or No on it. The stats strip shows the market's Total 24H Volume, Open Interest, and, for a multi-outcome market, the number of Outcomes. ## Placing a prediction trade The order form works much like the Trade order form, adapted for outcomes: - Choose a side. Toggle between Yes and No (some markets label the sides by name, such as a team, rather than plain Yes and No). - Enter your size. Prediction size is measured in Contracts, where one contract pays 1 USDC if it wins. The form shows what your position would return if the outcome goes your way. - Buy or sell. Buy to open or add to a position; sell to reduce or close it before settlement. As with the rest of Hyperbeat, trading is gasless and one-click once your account is set up. ## Following your positions Your open predictions appear in the Predictions tab at the bottom of the page, separate from your perp and spot positions. There you can watch each position's value move with the odds and close it whenever you like. Every market also has a Rules button that opens a Market Rules dialog spelling out exactly how the question is defined and what counts as Yes or No. Read it before you trade, so you know precisely what you are betting on. ## How a market settles Each market has a settlement time, shown as a Settles In countdown in the stats strip. When the countdown ends, the market moves through two states, and the order form is replaced by a settlement panel: - Awaiting Settlement: trading is closed and the result is being finalized. - Market Settled: the outcome is confirmed. The panel shows the winning side, and if you traded the market, your realized result: "You won" or "You lost" a dollar amount on the total you staked. If you sat this one out, it simply notes you did not trade this market. Winning shares pay out 1 USDC each and losing shares expire at zero. For recurring markets, a Trade next market shortcut jumps you straight to the next question in the series. ## How predictions differ from perps - No leverage, no liquidation. You can only lose what you put into a position; there is no margin call and no funding rate. - Prices are capped. A share lives between 0 and 1 USDC, and the answer is ultimately binary, so the payoff is defined from the start. - They settle. Unlike a perp, a prediction market has an end date and a final answer. That makes prediction markets one of the more approachable ways to take a view, since the downside on any single share is simply its price. ## A note on risk Prediction markets are still speculation. Odds can move sharply on news, thin markets can be volatile, and a confident-looking price can still resolve against you. Trade sizes you are comfortable losing, and read the market rules so there are no surprises at settlement. ## Keep learning - Getting started with Hyperbeat Trade - Markets on Hyperbeat Trade: perps, spot, stocks, and more - A tour of the Hyperbeat Trade interface Nothing in this article is financial advice. Prediction markets involve risk, and you should never trade with money you cannot afford to lose.