Perpetual futures in THORWallet run on Hyperliquid. You deposit USDC margin from your own wallet, enable trading once with a signature, and place long or short orders with leverage. Perpetuals are high risk and you can lose your entire margin.
On this page
A perpetual future (perp) is a contract that follows the price of an asset and has no expiry date. You can go long or short, and you can use leverage, so a small margin controls a larger position. In THORWallet, perpetuals run on Hyperliquid.
Perpetuals are leveraged and high risk. You can lose your entire margin, and it can happen quickly. They are not available in every country. Nothing here is investment advice.
Where to find it
- Mobile app: tap Trade and choose Hyperliquid. The section has three tabs: Markets, Positions and Portfolio.
- Web app and THORWallet Terminal: open Pro Trading at app.thorwallet.org/pro. Chart, order book and order ticket are on one screen.
The market list also contains Hyperliquid spot markets. Spot orders use the same ticket, without leverage and without liquidation.
What you need
- A seed wallet in the mobile app. A vault or a watch-only wallet cannot place orders there. The web app also accepts a connected vault or another EVM wallet.
- USDC on Arbitrum and a little ETH on Arbitrum for the network fee. The minimum deposit is $5. See How to deposit to and withdraw from perpetuals.
Enable trading once
Before your first order, THORWallet shows Enable trading on Hyperliquid. When you tap Enable trading, your wallet signs two approvals:
- Permission for the app to place and cancel orders for this wallet. It cannot withdraw.
- THORWallet's builder fee, up to a ceiling of 1% per trade. The fee you actually pay is lower, see the table below.
No funds move. Trading can only be enabled once the account holds USDC, so deposit first.
Fees
Each order pays two fees. The ticket shows both under Fees before you confirm.
| Fee | Perpetuals | Spot |
|---|---|---|
| Hyperliquid | Set by Hyperliquid. Portfolio shows your taker and maker rate. | Set by Hyperliquid |
| THORWallet, Standard | 0.05% of the order value | 0.85% |
| THORWallet, Community | 0.035% | 0.6% |
| THORWallet, Community Plus | 0.025% | 0.425% |
Other costs:
- Funding. Longs and shorts pay each other a funding rate. It is charged hourly on the position value. It goes to other traders, not to THORWallet.
- Deposit. THORWallet charges no deposit fee. You pay the Arbitrum network fee.
- Withdrawal. Hyperliquid charges a flat fee of about $1 per USDC withdrawal.
The Community tiers follow your staked $TITN balance. $TITN is a utility token, not an investment; its value may fluctuate and could fall to zero. See Community Tiers.
What you can do
- Market and limit orders, and more order types under Pro.
- Take profit and stop loss.
- Leverage per market, up to the maximum Hyperliquid allows for that market.
- Cross or isolated margin.
See How to place a perpetual order and Margin, funding and liquidation.
Availability
Perpetual futures are restricted in a number of countries. It is your responsibility to check the rules where you live before you trade. If trading is not available, the app shows "Hyperliquid is unavailable".
Related
- How to deposit to and withdraw from perpetuals
- How to place a perpetual order
- Margin, funding and liquidation
- Trading troubleshooting
- Perpetuals
- Background: Perpetual futures explained
- Guide: How to trade Hyperliquid perpetuals from your phone
Common questions
Which exchange do THORWallet perpetuals run on?
Hyperliquid, an on-chain exchange with its own order book. THORWallet is the interface. Your wallet signs and Hyperliquid matches the order.
Does THORWallet hold my margin?
No. Your Hyperliquid account belongs to your own wallet address. You deposit from your wallet and withdraw back to your own address.
What does trading cost?
Each order pays Hyperliquid's trading fee plus a THORWallet fee. On perpetuals the THORWallet fee is 0.05 percent of the order value at the Standard tier, 0.035 percent at Community and 0.025 percent at Community Plus. Funding is separate.
Can I trade with a vault?
In the mobile app, Hyperliquid trading needs a seed wallet. In the web app you can also trade with a connected vault or another EVM wallet.
What is the smallest order?
Hyperliquid requires an order value of at least 10 dollars.
Thank you.
Sorry about that. Chat with support inside the app, or write to info@thorwallet.org. Support will never ask for your recovery phrase.