Hyperliquid Exchange Setup

Connect your Ethereum wallet to Hyperliquid through SignalBee. This guide walks you through the unique wallet-based authentication that Hyperliquid uses and how to configure it securely for automated trading.

Important: Hyperliquid uses Ethereum wallet authentication, which is completely different from traditional API keys. Read this guide carefully before proceeding.

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Prerequisites

Before you begin, make sure you have:

• Ethereum wallet - MetaMask, Rabby, or any Ethereum-compatible wallet
• Small amount of ETH - For gas on Arbitrum (only needed for deposits/withdrawals)
• USDC deposited to Hyperliquid - Available for trading
• SignalBee account - Ready to connect an exchange
• Password manager - For storing your private key securely

Strongly Recommended: Create a dedicated trading wallet specifically for Hyperliquid trading. Do not use your main Ethereum wallet that holds significant funds.

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About Hyperliquid

Hyperliquid is a decentralized perpetual and spot exchange built on its own L1 with settlement on Arbitrum. Key highlights:

• Decentralized exchange - On-chain order book and settlement
• Built on Arbitrum L2 - Lower gas costs than Ethereum mainnet
• Very competitive fees - 0.01% maker / 0.035% taker
• Wallet-based identity - No email/password accounts, your wallet IS your account
• No traditional API keys - Uses Ethereum wallet signing for authentication

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Understanding Hyperliquid Authentication

This is Critical: Hyperliquid authentication works completely differently from every other exchange in SignalBee.

Traditional Exchanges vs. Hyperliquid

What This Means for You

When you connect Hyperliquid to SignalBee:

1. You provide your Ethereum wallet address (your public identifier, like 0x...)
2. You provide your wallet's private key (the secret that controls your wallet)
3. SignalBee signs trade requests using EIP-712 typed data signing
4. Your wallet address is your account - there's no separate login

Think of it this way: Instead of the exchange giving you a key to their door, you're giving them a copy of your house key. This is why a dedicated trading wallet is so important.

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Creating a Dedicated Trading Wallet

Strongly Recommended: Do not use your main Ethereum wallet with SignalBee. Create a separate wallet just for Hyperliquid trading.

Why Use a Dedicated Wallet?

Step 1: Create a New Wallet in MetaMask

1. Open MetaMask browser extension
2. Click your account icon at the top
3. Click Add account or hardware wallet
4. Select Add a new account
5. Name it something clear like "Hyperliquid Trading"
6. Click Create

Step 2: Fund Only What You Need

1. Decide your trading budget - Only transfer what you're willing to risk
2. Send USDC to your new wallet address on Arbitrum
3. Send a small amount of ETH for gas (0.01 ETH is usually enough)

Security Rule: Never fund this wallet with more than your intended trading amount. Treat it like a separate trading account.

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Setting Up Hyperliquid Access

Step 1: Get Your Wallet Address

Your wallet address is your public identifier on Ethereum:

1. Open MetaMask (or your wallet app)
2. Select your dedicated trading wallet
3. Click the address at the top to copy it
4. It looks like: 0x1234567890abcdef1234567890abcdef12345678

This address is safe to share - it's like your account number.

Step 2: Deposit Funds to Hyperliquid

Before you can trade, deposit USDC to Hyperliquid:

1. Go to app.hyperliquid.xyz
2. Click Connect Wallet and select MetaMask
3. Approve the connection with your dedicated trading wallet
4. Click Deposit in the top menu
5. Enter the amount of USDC to deposit
6. Approve the transaction in MetaMask
7. Wait for the deposit to confirm (usually 1-2 minutes)

Step 3: Export Your Private Key

Security Warning: Your private key gives complete control over your wallet. Never share it with anyone. Only enter it in trusted applications like SignalBee.

In MetaMask:

1. Click the three dots menu next to your account name
2. Select Account details
3. Click Show private key
4. Enter your MetaMask password
5. Copy the private key that appears (64 hexadecimal characters)
6. Save it in your password manager immediately

Private key format:

c4bbcb1fbec99d65bf59d85c8cb62ee2db963f0fe106f483d9afa73bd4e39a8a

Or with 0x prefix:

0xc4bbcb1fbec99d65bf59d85c8cb62ee2db963f0fe106f483d9afa73bd4e39a8a

Note: SignalBee accepts the private key with or without the 0x prefix.

Step 4: Store Securely

1. Open your password manager (1Password, Bitwarden, etc.)
2. Create a new entry for "Hyperliquid SignalBee"
3. Store both:
   • Wallet Address: 0x...
   • Private Key: ... (64 hex characters)
4. Save the entry

Never store private keys in:

• Plain text files
• Email or chat messages
• Screenshots or photos
• Unencrypted notes

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Adding to SignalBee

Step 1: Go to Exchanges Page

1. Log in to your SignalBee account
2. Navigate to Exchanges in the main menu

Step 2: Add New Exchange

1. Click the Add Exchange button
2. Select Hyperliquid from the exchange list

Step 3: Enter Your Credentials

Hyperliquid requires two values:

1. Wallet Address - Paste your Ethereum wallet address (starts with 0x)
2. Private Key - Paste your private key (with or without 0x prefix)
3. Label (optional) - Enter a name like "Hyperliquid Trading"

Step 4: Test the Connection

1. Click Save and Test Connection
2. Wait for SignalBee to verify your credentials
3. Look for the success message

Step 5: Verify Your Setup

After successful connection:

1. Your Hyperliquid balances should appear in SignalBee
2. Check that your USDC and any other assets are listed
3. Balances confirm the connection is working

Note: If you see "Invalid Signature" errors, re-copy both the wallet address and private key, ensuring no extra spaces.

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Hyperliquid-Specific Considerations

Ticker Format

Hyperliquid uses single asset names, not trading pairs:

SignalBee handles this conversion automatically. Use standard BASE-QUOTE format in your webhooks, and SignalBee will convert to Hyperliquid's format.

Supported Order Types

Hyperliquid spot trading supports:

Note: If your strategy requires stop-loss orders, these must be managed at the strategy/signal source level rather than as native Hyperliquid orders.

Time-In-Force Options (Limit Orders)

When placing limit orders, Hyperliquid supports:

On-Chain Settlement

Unlike centralized exchanges:

• Trades settle on-chain (Hyperliquid L1 → Arbitrum)
• Your funds remain in your wallet's control
• No custodial risk from exchange holding your funds
• Trade execution is transparent and verifiable

Trading Fees

Hyperliquid has some of the lowest fees in crypto:

These are significantly lower than most centralized exchanges (typically 0.1%).

API Rate Limits

SignalBee handles rate limiting automatically.

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Using Testnet (Optional)

Hyperliquid provides a testnet for testing your integration without risking real funds.

Testnet Access

1. Go to app.hyperliquid-testnet.xyz
2. Connect your wallet (same as mainnet)
3. Request testnet funds from the faucet
4. Test your trading strategies risk-free

Configuring Testnet in SignalBee

When adding Hyperliquid to SignalBee:

1. Use the same wallet credentials
2. Select Testnet mode if available
3. Or contact support to configure testnet access

Tip: Always test new trading strategies on testnet before using real funds.

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Troubleshooting

Common Hyperliquid-specific errors and solutions:

Connection Test Fails?

If your connection test fails in SignalBee:

1. Verify wallet address - Should start with 0x and be 42 characters total
2. Verify private key - Should be 64 hex characters (or 66 with 0x prefix)
3. Check for spaces - No leading/trailing spaces in either field
4. Confirm deposits - Ensure you've deposited to Hyperliquid (not just your wallet)
5. Try testnet first - Verify setup works on testnet

"Insufficient Balance" but You Have Funds?

• Funds must be deposited to Hyperliquid, not just in your Ethereum wallet
• Check your balance at app.hyperliquid.xyz
• Ensure you connected the correct wallet

For persistent issues, see our Error Codes Reference or contact support@signalbee.trade.

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Security Best Practices

Critical: Because Hyperliquid uses your wallet's private key, security is even more important than with traditional API keys.

Wallet Security

• Use a dedicated trading wallet - Never use your main wallet with SignalBee
• Fund only your trading budget - Don't deposit more than you're willing to risk
• Keep main funds separate - Use a hardware wallet (Ledger, Trezor) for savings
• Verify wallet address - Always double-check you're using the dedicated wallet

Private Key Security

• Store in password manager only - 1Password, Bitwarden, or similar
• Never share with anyone - No support agent will ever ask for it
• Never enter on unknown sites - Verify URLs carefully
• Never store in plain text - No notes, documents, or screenshots

Ongoing Security

• Monitor wallet activity - Check Arbiscan for unexpected transactions
• Review SignalBee trades - Verify only expected trades appear
• Keep MetaMask updated - Security updates are important
• Consider key rotation - Create new wallet periodically and migrate

If You Suspect Compromise

If you believe your private key may be compromised:

1. Immediately withdraw funds from Hyperliquid to a NEW wallet
2. Revoke SignalBee connection in your account settings
3. Create a completely new wallet for future trading
4. Never reuse the compromised wallet

Security Note: Unlike traditional API keys that can be revoked, a compromised private key means that wallet is permanently compromised. The only solution is to move funds to a new wallet.

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Comparison with Traditional Exchanges

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Related Resources

• API Key Best Practices - General security guidance
• Security Overview - How SignalBee protects your data
• Error Codes Reference - Common error messages explained
• Binance Exchange Setup - Example of traditional API key setup