Basket perps on Hyperliquid

Baskets can also be traded as perps on Hyperliquid: long or short, with leverage, in your own Hyperliquid account. bskts sends one order per leg, all at once and in the basket’s live weights, and shows the legs as one position with one price, one P&L and one close. Trade on the Perps page.

A spot basket is offered as perps when every holding has a Hyperliquid perp on the same asset (MAG6, FRONTIER, CRYPTOEQ, OPUS, FABLE, MAXBETA, SILICON, ETHSTACK). One with a holding that has none, or that only an index, a commodity or cash could stand in for, is not: its perps would follow the basket only loosely.

Some baskets exist only as perps (USCORE, METALS, ENERGY, MEMORY, BUILDOUT, RETAIL, CIRCUIT, NEARZEC, MAJORS, HYPEBTC), with no token on Robinhood Chain. They hold what has no token there, such as copper, natural gas and the Korean and Chinese memory makers, and an index, a metal or oil itself rather than a fund that tracks it. Each is a fixed bag of units like any basket, priced at 100 on the day it was set and from Hyperliquid’s prices since. What each one holds.

Your account and its trading keys

Positions sit in your own Hyperliquid account, under your login wallet. bskts never holds them. Enable trading is one signature: it approves a trading key for bskts that can place and cancel orders and nothing else. Hyperliquid does not let it withdraw or transfer. Take profit, stop loss and limit orders use a second key of the same kind, the bskts keeper, approved once, so they work with the page closed. Hyperliquid expires these keys after about 90 days; the page asks you to enable trading again when one has.

Orders

• Market. Every leg goes at once. Hyperliquid refuses any single order under $10, so a basket’s smallest position is $10 divided by its smallest weight. The page shows it before you trade.
• Limit. Set the basket price to buy or sell at. The keeper watches every leg’s best bid and offer on Hyperliquid around the clock. When the price the whole basket would fill at reaches your limit, every leg left goes at once, immediate or cancel, capped so the order never costs more (or fetches less) than the limit, earlier fills included. A leg that part-fills goes again on the next price that allows it. A limit order is good until you cancel it, and you can move its price at any time. An account can have up to 20 open. An open stops when Hyperliquid refuses it for margin, and a close stops when its position is gone.
• Take profit and stop loss on the basket’s return. Watched around the clock, they close the whole basket at market when reached. A close that part-fills sends the rest again until the position is gone. A level the position is already past is refused, since it would close the position at once.

Leverage, margin and funding

Hyperliquid sets a maximum leverage for every asset, so a basket goes as high as the lowest maximum among its legs. Legs are cross or isolated margin, where Hyperliquid allows the choice (some assets are isolated only). A leg whose margin runs out is liquidated by Hyperliquid, so a position can lose all the margin behind it.

Perps have no expiry. Each leg pays or receives funding every hour, depending on whether longs or shorts are in demand on its market, and a basket’s funding is the sum of its legs’.

Moving money in and out

From your bskts account it is one step: USDG crosses to Hyperliquid over Across and arrives as margin. You can also deposit USDC to Hyperliquid directly. The way back goes over Across too, gasless, into your bskts account as USDG. If Across can’t take it, the form offers Send over Arbitrum instead: the money goes to a forwarding contract of your account on Arbitrum, which passes it into Across to your bskts account. Each move shows its bridge fee before you confirm.

Costs

• Hyperliquid’s trading fee on each leg, at the base tier at most 0.045% of its value for crypto and 0.09% for stocks, indices and commodities. Each fill reports the fee actually charged.
• Funding, hourly, paid or received.
• The bskts fee: none on perps today.

New to perps? The perps guide walks through a first trade.