Spot

On Spot you buy the actual token: it lands in your Hyperliquid account and it is yours until you sell it. There is no leverage, no liquidation and no cost for holding it. Today everything on Spot is crypto.

You always buy and sell in USDC. A pair quoted in another currency (USDH, USDT0, USDE) can be looked at but not bought: its page says This pair is quoted in USDH. On Every you buy and sell in USDC. and, when there is one, offers a button to the same token’s USDC pair.

Buying

1. Open the market: from Invest → Spot, from search or from any list. Tap Buy.

2. Buy Bitcoin opens (with the name of what you are buying). Type how much you want to spend, in dollars, with the keypad or the amount shortcuts. Max fills in everything you can spend. Under the figure you see Available and, behind the ?, why you can invest a little less than your balance.

3. Tap Buy. A sheet comes up with the summary: You’re investing X in Bitcoin., the Price, what You pay, the Fee and the Estimated shares. If what actually goes out differs from what you typed, the Traded value too.

4. Tap Confirm purchase. If your money needs to be moved to Hyperliquid, the app does that first and shows you each step. The first time you buy, it also sets your account up in the same step; there is nothing for you to approve.

5. Once it fills, the screen says Bought with the amount and the name. Tap Done.

When it goes another way

• You’re X short. The money is not enough. The button becomes Add money. If what is missing is covered by what you have in Savings, the app asks you first whether to use it; you can say no.
• The purchase didn’t happen. The screen shows the price you saw, the price now and where your money stands. You can Buy at the price now or Leave it.
• Checking whether it went through. Hyperliquid did not answer in time and the app is looking for the order. Do not repeat it: wait for the answer or check Activity.

Selling

1. On the market’s page, tap Sell. It is grey if you have nothing to sell.

2. In Sell Bitcoin, Available is what your holding is worth. Type how much you want to sell, in dollars, or tap Max to sell all of it.

3. Tap Sell and check the sheet: You’re selling X of Bitcoin., the Price, what You get (net of the fee) and the Fee.

4. Tap Confirm sale. Once it fills, the screen says Sold. The money is in your Available.

Minimums

Hyperliquid does not take orders of $10 or less. The app applies that rule like this:

What you do	Minimum
Buy	$11. Below it, the figure turns red with The minimum is $11 and the button stays off.
Sell part of it	More than $10: the app asks for $10.01. Below it, it says The minimum is $10.01, or sell it all with Max.
Sell all of it (Max)	No minimum. It sells even if it is worth less than $10.

If a partial sale leaves you with less than the minimum, that is fine: the rest sells whole later with Max.

Each token’s steps

Every token is bought and sold in steps: Hyperliquid sets, for each one, the smallest amount that can move at once. That has two consequences the app tells you about before you confirm:

• A purchase can leave a remainder that cannot be sold. Hyperliquid takes its fee in the token you buy, so a little less than you asked for arrives and the last step is incomplete. The purchase sheet always says so (About X of Bitcoin will be left that can’t be sold.) and, when it is a tenth of what you pay or more, the amount screen flags it in amber. That remainder is still yours and frees up as soon as you buy a little more.
• When selling, whatever does not fill a step stays. When that happens, selling everything says That’s all of your Bitcoin that can be sold and how much is left, and the ? next to Available explains it under Why you can’t sell all of it.

The price you pay

Buying and selling are market orders: they fill at the best price on the book at that moment. So that a sudden move does not overcharge you, the order carries a cap:

• When buying, at most 2% above the reference price. That is why that share of your balance is held back while the order fills. If the price jumps further than that, the purchase does not fill and nothing is spent.
• When selling, the cap is 8%, wider on purpose so that a sale does not end up undone.

Either way it fills at the book’s price, not at the cap. It cannot be changed.

Fees

• Buying: Every charges nothing. Hyperliquid charges its own, in the token you buy.
• Selling: Every charges 1% of what you sell, on top of Hyperliquid’s. Both come out of the USDC you receive.

The confirm sheet shows the fee before you confirm. The details are in Fees.

After buying

• Invest → Your pots shows what you hold, with its value.
• The Spot card on Invest adds up what you hold on Spot, and lists it when you unfold it.
• On the token’s page, Yours shows the total value and how much you hold (Total value · 0.00012 BTC).
• The purchase and the sale show up in Activity. See Activity.
• What you hold on Spot counts as Invested, not as Available. To spend it on something else, sell it first.

Note

A small purchase of a token with large steps can leave a meaningful part that cannot be sold. The app tells you how much before you confirm: if it looks like a lot, buy a little more or pick another market.