Documentation

Plain-language guides to how Perpex works on Hyperliquid: what the product is, what it costs, how copy trading is set up, how trader statistics are calculated, and how Hyperliquid perpetual markets work.

Product guides

• About Perpex

  What Perpex is and is not, who develops it, where its data comes from and which features are live or coming soon.

• Fees

  Each cost component: Hyperliquid trading fees, funding and the Perpex builder fee, which is Perpex's only fee, including on copy trading, with a worked example.

• Copy trading setup

  The steps and checks needed before a copy relationship can start: wallet, agent authorization, builder fee approval and collateral.

• Trader performance methodology

  Definitions of PnL, ROI, win rate, drawdown, volume and trade count, plus data coverage, freshness and known limits.

• Hyperliquid perpetual markets

  Hub for Hyperliquid perpetual markets, with mark, oracle and funding explained.

• API status

  The current status of a public developer API for Perpex.

• Download app

  Official Perpex apps for iOS and Android.

Learn and market guides

• Hyperliquid perpetual markets explained

  Understand how Hyperliquid perpetual contracts, mark prices, funding and risk controls work before exploring BTC, ETH or HYPE markets.

• Hyperliquid funding rates: what traders should check

  Learn what a Hyperliquid perpetual funding rate means, when it is paid and why a displayed rate is not a forecast or trading profit.

• How to analyze a Hyperliquid trader wallet

  A checklist for reading a Hyperliquid trader wallet: PnL, ROI, win rate, drawdown, trade count, data coverage and leverage risk before you copy anyone.

• Hyperliquid copy trading risks: slippage, timing and fees

  The main risks of copy trading on Hyperliquid: execution delay, slippage, position sizing, leverage, liquidation, fees and trades that cannot be replicated.

• Hyperliquid builder codes explained

  How Hyperliquid builder codes work: fee approval from your main wallet, per-order builder fees, the protocol caps on perps and spot, and how to revoke approval.

• Hyperliquid vaults vs copy trading: key differences

  Compare Hyperliquid vaults with copy trading: where your funds sit, lock-ups, the leader's cut of profits, fees and why results differ between the two models.

• Hyperliquid HIP-4 outcome markets explained

  What HIP-4 outcome markets on Hyperliquid are: fully collateralized Yes and No contracts, fixed settlement ranges, merged order books and builder code fees.

• Hyperliquid BTC perpetual market

  Explore BTC perpetual mark price, oracle, funding and 24-hour volume on Hyperliquid with practical risk context.

• Hyperliquid ETH perpetual market

  View ETH perpetual market context from Hyperliquid and understand mark, oracle, funding and leverage considerations.

• Hyperliquid ZEC perpetual market

  Explore the Hyperliquid ZEC perpetual market with current public mark price, oracle, funding, 24-hour notional volume and open interest, plus practical risk context.

• Hyperliquid HYPE perpetual market

  Explore HYPE perpetual price, oracle, funding and liquidity context using Hyperliquid public market data.

• Hyperliquid NEAR perpetual market

  Explore the Hyperliquid NEAR perpetual market with current public mark price, oracle, funding, 24-hour notional volume and open interest, plus practical risk context.

• Hyperliquid PUMP perpetual market

  Explore the Hyperliquid PUMP perpetual market with current public mark price, oracle, funding, 24-hour notional volume and open interest, plus practical risk context.

• Hyperliquid SOL perpetual market

  Explore the Hyperliquid SOL perpetual market with current public mark price, oracle, funding, 24-hour notional volume and open interest, plus practical risk context.

• Hyperliquid XRP perpetual market

  Explore the Hyperliquid XRP perpetual market with current public mark price, oracle, funding, 24-hour notional volume and open interest, plus practical risk context.

• Hyperliquid ENA perpetual market

  Explore the Hyperliquid ENA perpetual market with current public mark price, oracle, funding, 24-hour notional volume and open interest, plus practical risk context.

• Hyperliquid LINK perpetual market

  Explore the Hyperliquid LINK perpetual market with current public mark price, oracle, funding, 24-hour notional volume and open interest, plus practical risk context.