Table of Contents
What is Hyperliquid?
Hyperliquid is a high-performance blockchain built specifically for onchain finance, featuring HyperBFT consensus for single-block finality. It consists of two main components: HyperCore (supporting high-throughput perpetual futures and spot trading) and HyperEVM (a general-purpose smart contract platform). This unified system allows for seamless integration of trading, liquidity, and applications in one ecosystem that processes over 200,000 orders per second.
Understanding the Hyperliquid Ecosystem
Before diving into the process, let's clarify the key components:
The Four Account Types
- Hyperliquid Core (HyperCore) - Your assets ON the application (app.hyperliquid.xyz)
- Hyperliquid EVM (HyperEVM) - The L1 chain where assets appear in your wallet (like Rabby)
- Three Functional Accounts within HyperCore:
- Perpetual Account - For leveraged trading and vaults
- Spot Account - For non-leveraged assets and trading
- Staking Account - For staking on Hyperliquid L1 (8-day cooldown: 1+7 days)
- Cross-Chain Movement - Swapping between HyperCore and HyperEVM to interact with other protocols
The Portfolio page shows all your account balances and provides easy access to the most important transfer functions
What You'll Need Before Starting
Rabby Wallet with Two Types of Gas
- Arbitrum ETH for operations connecting to/from Arbitrum
- $HYPE (EVM) for interactions on the Hyperliquid L1
- Rabby provides native Hyperliquid support (MetaMask works too but requires custom network setup)
- Without both types of gas, you'll be limited in what transactions you can perform
Initial Funding Asset Options
- Arbitrum: USDC, USDT, and USDC.e
- Bitcoin: BTC
- Ethereum: ETH
- Solana: SOL and Fartcoin
- SOL offers one of the smoothest experiences for beginners
VPN (Potentially)
- Depending on your country of residence
- Ensure you're following all legal requirements for your region
Step-by-Step OnRamp Guide
1. Setting Up Your Wallet
Create a Rabby Wallet
- Go to rabby.io and follow their installation instructions
- Securely back up your seed phrase in multiple locations
- Create a strong password
Get Arbitrum ETH to Your New Wallet
Option A: In-wallet swap (Simplest but potentially higher fees)
- Use Rabby's built-in swap feature to convert ETH or other assets to Arbitrum ETH
- Follow the prompts and confirm the transaction
Option B: SimpleSwap or similar service (Good balance of ease and cost)
- Visit SimpleSwap.io
- Select your source asset and Arbitrum ETH as destination
- Enter your Rabby wallet address
- Complete the swap
Option C: Bridge service (Most cost-effective)
- Use Orbiter Finance or Synapse Protocol
- Follow their instructions to bridge to Arbitrum
Start with just 0.004-0.008 ETH (approximately $10-20)
Confirm the transaction appears in your Rabby wallet
2. Funding Your Hyperliquid Account
Connect Your Wallet to Hyperliquid
- Visit app.hyperliquid.xyz
- Click "Connect Wallet" and select Rabby
- Follow prompts to authorize the connection
Deposit Your Chosen Asset to Hyperliquid
- Navigate to the "Deposit" section
- Select your deposit asset (SOL, BTC, ETH, USDC, USDT, or USDC.e)
- Enter the amount you wish to deposit
- Follow the bridge instructions
- Allow a few minutes for confirmation
The deposit interface showing all available chains: Arbitrum, Bitcoin, Ethereum, and Solana
The SOL deposit interface - note the minimum deposit amount of 0.2 SOL and the warning about network requirements
Important: Verify Your Deposit Location
Critical Check
Double check how your assets are reflected in your HyperCore account and confirm whether they landed in your Spot or Perp equity. This verification is crucial before taking any further actions.
3. Converting Your Assets
Convert to USDC if Needed (SPOT)
- If you deposited something other than USDC:
- Go to the Spot trading section
- Select the appropriate trading pair (e.g., SOL/USDC)
- Create a market or limit sell order
- Confirm the transaction
The trading dashboard where you can trade assets and monitor your positions
Convert USDC (SPOT) to USDC (PERPS)
- Navigate to the account section
- Find the option to transfer between accounts
- Move a portion of your USDC from SPOT to PERPS account
- This step enables leveraged trading and vault participation
The interface for transferring USDC between your Perps and Spot accounts
Buy $HYPE with USDC (SPOT)
- Return to Spot trading
- Select the HYPE/USDC trading pair
- Create a buy order for $HYPE
- Confirm the transaction
Convert $HYPE (CORE) to $HYPE (EVM)
- Find the Core→EVM conversion option
- Select the amount of $HYPE to convert
- Approve the transaction
- This makes your $HYPE visible in your Rabby wallet for ecosystem interactions
Critical
Keep some $HYPE(EVM) in your wallet as gas for Hyperliquid L1 transactions
The interface for transferring assets between HyperCore (Spot) and HyperEVM
4. Optional: Setting Up Staking
Move SPOT $HYPE to Staking Account
- Navigate to the Staking section
- Transfer $HYPE from SPOT to Staking account
- Confirm the transaction
Delegate to a Validator
- Select a validator from the list
- Enter the amount to delegate
- Confirm the delegation
- Remember: an 8-day cooldown applies to unstaking
The Staking interface shows available validators, their performance metrics, and commission rates
What You Now Have Access To
After completing this guide, you'll have:
- Assets in your Spot Account - For buying/selling spot assets
- Assets in your Perp Account - For leveraged trading and vault participation
- $HYPE in your EVM wallet - For ecosystem interactions like providing liquidity
- Optional: Staked $HYPE - Earning staking rewards (subject to 8-day unstaking period)
Tips for a Smooth Experience
- Read All Prompts Carefully - You'll encounter multiple signing requests and confirmations
- Start Small - Test the process with smaller amounts before committing larger funds
- Keep Both Types of Gas in Your Wallet - Always maintain some Arbitrum ETH AND $HYPE(EVM) for transactions
- Check Account Balances - Verify assets appear in the correct accounts before trading
- Be Patient - Some transactions may take a few minutes to confirm, especially cross-chain
Why This Matters
Understanding the different account types isn't just technical trivia—it determines what you can actually do with your assets:
- Funds in your Perp account are the only ones you can use for leveraged trading or vaults
- Only $HYPE(EVM) in your wallet can interact with external protocols like HyperSwap
- Staked $HYPE generates yield but comes with that 8-day lockup period
This account structure gives you flexibility but requires intentional management of where your assets live.
Next Steps in the Ecosystem
Now that you're set up, you can explore:
- Providing liquidity on HyperSwap (HYPE-USDT0 pool)
- Setting up concentrated liquidity positions
- Participating in yield vaults in the Perp account
- Trading with leverage in the Perp markets
Referral Information
Referral Links
Referral Codes
If you prefer not to click links, you can manually enter these codes:
- Hyperliquid: 0XBRAWLIE
- HyperSwap: oxbrawlie
Need more hands-on help? Feel free to reach out to me directly.