Hyperliquid Perpetual Futures Setup

Connect your Hyperliquid account to SignalBee for automated perpetual contract trading. Important: Hyperliquid uses Ethereum wallet authentication—not traditional API keys. This guide walks you through setting up a dedicated trading wallet, exporting your private key, and configuring SignalBee.

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Prerequisites

Before you begin, make sure you have:

• Ethereum wallet - MetaMask, Rabby, or similar browser wallet
• USDC on Hyperliquid - Bridged from Arbitrum network
• SignalBee account - Ready to connect an exchange
• Password manager - For storing your private key securely
• Understanding of wallet security - Private keys grant full control

Strong Recommendation: Create a dedicated trading wallet specifically for SignalBee. Do NOT use your main wallet that holds significant funds. See Security Best Practices for details.

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About Hyperliquid

Hyperliquid is a decentralized perpetual futures exchange with a fully on-chain order book:

Why Hyperliquid is Different

Trading Fees

Hyperliquid offers highly competitive fees:

Note: These are among the lowest fees in the perpetual futures market.

Order Type Support

SignalBee supports the following Hyperliquid order types:

Time in Force Options for Limit Orders:

Note: Stop-loss and take-profit orders must be configured through Hyperliquid's conditional order system. SignalBee uses market and limit orders for signal execution.

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Understanding Wallet-Based Authentication

CRITICAL: This section explains a fundamental difference from all other exchanges.

Traditional API Keys vs. Ethereum Wallet

What is EIP-712 Signing?

Hyperliquid uses EIP-712 typed data signing for authentication. When SignalBee places an order on your behalf:

1. SignalBee constructs the order data
2. Your private key signs the order using EIP-712 format
3. Hyperliquid verifies your wallet authorized the order
4. Order is executed on-chain

SignalBee handles all signing automatically. You only need to provide your private key once.

The Critical Security Difference

WARNING: Your private key grants complete and irrevocable control over your wallet.

This is why we strongly recommend using a dedicated trading wallet with only the funds you intend to trade.

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Setting Up Your Wallet

Option A: Create a New Dedicated Wallet (Recommended)

Creating a dedicated trading wallet isolates your trading funds from your main holdings:

Using MetaMask:

1. Open MetaMask and click your account icon (top-right)
2. Click Add Account or Create Account
3. Name it something clear: "SignalBee Trading"
4. Click Create
5. A new wallet address is generated

Benefits of a Dedicated Wallet:

• Only trading funds at risk
• Main holdings completely separate
• If compromised, limited loss
• Easier to track trading activity

Option B: Use an Existing Wallet

If using an existing wallet, ensure:

• You understand the full risk (key = complete control)
• You're comfortable with the funds in that wallet being at risk
• You're NOT using your primary savings wallet

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Funding Your Hyperliquid Account

Hyperliquid uses USDC on Arbitrum for deposits:

Step 1: Get USDC on Arbitrum

If you don't have USDC on Arbitrum:

1. Bridge USDC from Ethereum mainnet to Arbitrum, OR
2. Purchase USDC directly on Arbitrum via a DEX or exchange
3. Send USDC to your trading wallet on Arbitrum

Step 2: Deposit to Hyperliquid

1. Go to app.hyperliquid.xyz
2. Click Connect Wallet and connect your trading wallet
3. Click Deposit in the top navigation
4. Enter the amount of USDC to deposit
5. Click Approve (first time only) to allow the contract
6. Click Deposit and confirm in your wallet
7. Wait for the transaction to confirm

Note: Deposits typically appear within 1-2 minutes after transaction confirmation.

Step 3: Verify Funds

After depositing:

1. Your balance should appear on the Hyperliquid trading page
2. Check both "Account Value" and "Available Balance"
3. You're ready to export your private key

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Exporting Your Private Key

SECURITY WARNING: Your private key grants complete control over your wallet. Never share it. Never enter it on suspicious websites. Verify you're on the real SignalBee site before entering.

From MetaMask

1. Open MetaMask
2. Click the three dots (⋮) next to your account name
3. Select Account Details
4. Click Show Private Key
5. Enter your MetaMask password
6. Your private key is displayed
7. Click the copy icon to copy it
8. Immediately paste into your password manager

Private Key Format

Your private key should look like one of these:

Both formats work with SignalBee. The key is always 64 hexadecimal characters (plus optional 0x prefix).

Safe Storage

After copying your private key:

1. Save to password manager (1Password, Bitwarden, etc.)
2. Never store in plain text files, notes, or emails
3. Never share via any communication channel
4. Never screenshot your private key

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Adding to SignalBee

Step 1: Navigate to Exchanges

1. Log in to your SignalBee account
2. Click Exchanges in the main navigation

Step 2: Add Hyperliquid Perpetual

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

Important: Select "Hyperliquid Perpetual" specifically—not "Hyperliquid Spot" if that option exists.

Step 3: Enter Your Private Key

Note: Hyperliquid only requires ONE field—your private key. Unlike other exchanges, there is no API Key, Secret Key, or Passphrase.

Step 4: Test the Connection

1. Click Save and Test Connection
2. SignalBee derives your wallet address from the private key
3. SignalBee verifies connection to Hyperliquid
4. Look for the success message

Step 5: Verify Your Setup

After successful connection:

1. Your USDC balance should appear in SignalBee
2. Verify the balance matches your Hyperliquid account
3. Your wallet address should be displayed

Tip: If balance shows $0, verify that you've deposited USDC to Hyperliquid (not just to your Arbitrum wallet).

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Hyperliquid-Specific Considerations

Ticker Format

Hyperliquid uses simple asset names without quote currency:

SignalBee automatically handles the conversion. When configuring webhooks or whitelists, you can use either format.

Important: All Hyperliquid perpetuals are USDC-margined, not USDT. This differs from most centralized exchanges.

Position Mode: One-Way Only

Unlike Binance or Bybit, Hyperliquid does NOT support hedge mode. You cannot hold long and short positions simultaneously on the same asset.

Leverage Settings

Leverage on Hyperliquid:

• Set per asset
• Range: 1x to 125x (varies by asset)
• Configure on Hyperliquid's interface or via API
• Start with low leverage (5x or less) until experienced

Margin Types

On-Chain Benefits

Trading on Hyperliquid provides unique advantages:

• Transparent execution - All orders visible on-chain
• Verifiable fills - Independently verify your executions
• No exchange custody risk - Funds in smart contract, not exchange wallet
• Censorship resistant - No account freezing
• 24/7 availability - No exchange maintenance windows

Considerations

• Smart contract risk - Different from but not zero risk
• No KYC recovery - Lose your key, lose your funds
• Gas costs - Minimal but present for deposits/withdrawals
• Slippage - On-chain execution may have different characteristics

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Troubleshooting

Common Hyperliquid-specific errors and solutions:

Authentication Errors

Balance and Margin Errors

Order Errors

Rate Limiting

Connection Issues

If your connection test fails:

1. Verify private key - Re-copy from MetaMask, check for spaces
2. Check key format - 64 hex characters (with or without 0x)
3. Verify correct wallet - Ensure you exported from the funded wallet
4. Check Hyperliquid deposit - Balance on Hyperliquid, not just Arbitrum
5. Try testnet first - Test with testnet.hyperliquid.xyz credentials

Balance Shows $0?

If SignalBee shows $0 balance:

1. Verify deposit to Hyperliquid - Not just to your Arbitrum wallet
2. Check the correct wallet - Private key from deposited wallet
3. Wait for deposit confirmation - May take 1-2 minutes
4. Check Hyperliquid interface - Verify balance appears there first

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

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Risk Warnings

CRITICAL: This section covers TWO types of risk unique to Hyperliquid. Read carefully.

Trading Risk (Same as All Perpetuals)

Leverage Amplifies Both Gains AND Losses

Higher leverage = faster liquidation. A 1% adverse price movement with 100x leverage results in complete loss.

Liquidation is Automatic and Final

• When margin is depleted, your position is forcibly closed
• You lose the entire margin allocated to that position
• There is no way to recover from liquidation
• On-chain, transparent, but still final

Funding Rates Affect Position Costs

• Perpetual contracts have funding payments every 8 hours
• If you're long and funding is positive, you pay shorts
• If you're short and funding is positive, you receive payment
• Funding can significantly affect profitability of longer-term positions

Wallet Security Risk (UNIQUE to Hyperliquid)

This risk does NOT exist with traditional exchange API keys.

Private Key = Complete Control

Why This Matters

With traditional exchanges:

• Compromised API key? Revoke it, funds still safe (if withdrawals disabled)
• Suspicious activity? Exchange may freeze account and help

With Hyperliquid:

• Compromised private key? Funds are gone. Immediately. No recovery.
• No central authority to appeal to

This is why we insist on using a dedicated trading wallet.

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Security Best Practices

Wallet Security (Most Important)

• Use a dedicated trading wallet - NOT your main holdings wallet
• Create a NEW wallet specifically for SignalBee trading
• Keep main funds separate - Use hardware wallet for savings
• Only deposit trading capital - Amount you're willing to lose
• Consider this wallet "hot" - Connected to internet = higher risk

Private Key Security

• Store in password manager - 1Password, Bitwarden, etc.
• Never store in plain text - No notes apps, no text files
• Never share with anyone - Not support, not friends, no one
• Never enter on other sites - Verify you're on real SignalBee
• Never screenshot or photo - Images can be compromised
• No cloud storage - Unless encrypted password manager

Operational Security

• Start with small amounts - Test with minimal funds first
• Verify transactions - Check Hyperliquid interface matches SignalBee
• Monitor positions regularly - Especially with leverage
• Use appropriate leverage - Start low (5x or less)
• Understand liquidation prices - Before entering positions
• Bookmark official sites - Avoid phishing through search

Defense in Depth

The recommended setup:

This way, even in worst case:

• Hardware wallet funds: Safe (key never online)
• Trading wallet funds: At risk, but limited to trading capital

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Testnet for Practice

Hyperliquid provides a testnet environment:

• Testnet URL: api.hyperliquid-testnet.xyz
• Testnet Interface: testnet.hyperliquid.xyz
• Practice trading without risking real funds
• Test your signal configurations before going live

Setting Up Testnet

1. Create a new wallet (or use your testnet wallet)
2. Go to testnet.hyperliquid.xyz
3. Connect your wallet
4. Request testnet USDC from the faucet
5. Export private key
6. Add to SignalBee as "Hyperliquid Perpetual (Testnet)" if available

Tip: Always test new strategies on testnet first, especially when using higher leverage.

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Summary: Key Differences from Other Exchanges

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Related Resources

• API Key Best Practices - General credential security guidance
• Security Overview - How SignalBee protects your data
• Error Codes Reference - Common error messages explained