Before you open a position
- Opening a position is a real action that changes your account state
- Hyperliquid includes different market types: the screen opens on Spot by default, and in this guide we use Perps as the example
- Once executed, the result cannot be undone
- An open position immediately starts changing with the market
What this step does
Opening a position turns your available balance into an active trade in the market.
Until this point, funds are simply sitting on your balance. After opening a position, the result starts changing with price in real time.
This is the moment when you move from preparation to real trading.
Step 1 - Open the main trading screen
Screen: Chart + trading panel
Main trading interface: chart and order panel
The trading interface is divided into two main areas:
- the chart, which shows market movement
- the trading panel, where you choose the trade side, position size, and order type
This is where you select a market and prepare your trade.
Step 2 - Switch to Perps
Screen: Market selector
Market selection screen
By default, the interface may open on Spot.
In this guide, we use Perps - the market for Long / Short positions.
To switch, click the market ticker at the top of the screen (in this case, the BTC/USDC ticker above the chart) and choose a market marked Perp.
Step 3 - Configure position parameters
Screen: Order form
Order panel: direction, size, and Buy / Sell
In the trading panel, you choose what position you want to open.
You need to specify:
- direction - Buy / Long or Sell / Short
- position size
Long and Short
- Long - the position profits if the price rises
- Short - the position profits if the price falls
If you are unsure, start with a small Long position on a major asset like BTC or ETH.
Position size
Position size can be entered either as asset amount or as position value, usually in USDC, depending on the input mode selected in the panel.
These inputs determine your market risk once the order is executed.
Leverage increases both profit and risk
Leverage lets you open a larger position with less capital.
- low leverage (2x-3x): lower risk
- high leverage: higher risk of liquidation
If you are just starting, keep leverage low.
Check your liquidation price
Before submitting the order, check the liquidation price.
This is the price where your position will be automatically closed if the market moves against you.
If the liquidation price is too close to the current price, reduce your leverage or position size.
Once these settings look correct, submit the order.
You are opening a position, not buying the asset directly.
You can use a Market or Limit order. In this guide, we use a Market order for simplicity.
Additional settings like margin mode and leverage can be adjusted, but are not required for the basic flow.
Step 4 - Submit the order
Screen: Order confirmation
Confirm Order window before final submission
Before submission, Hyperliquid shows an order confirmation window.
Check the trade side, position size, order type, leverage, and liquidation price.
When you confirm the order, it is sent to the system.
After confirmation, the order is sent for execution.
If the order executes, the result cannot be reversed retroactively.
At this point, your wallet may ask for confirmation.
This is the moment when your decision becomes a real action.
Step 5 - Position is now live
Screen: Active position
Open position appears in the Positions tab with PnL, margin, and liquidation price.
After the order executes, the position appears in your account and immediately starts changing with the market.
At this point:
- part of your balance is used for the position
- the position reacts to price movement
- PnL starts updating in real time
There is no "activation" step after this.
What happens after you open a trade
The position appears in the Positions panel with real-time profit and loss.
You can close it at any time or manage it as the market moves.
What is happening now
A position is not a static record.
As the market moves:
- your PnL changes
- your margin changes
- your risk changes
This happens automatically. You do not need to click anything for the position to update.
Order to Position
Key idea
A position appears as the result of an executed order. After that, it immediately starts moving with the market: when price changes, PnL, margin, and risk change too.
Reinforcement
Opening a position follows a simple flow:
- you submit an order
- the system executes it
- the position appears immediately after execution
After submission, you cannot change your mind retroactively. To change the result, you need to take a new action: close the position, reduce its size, or open a new one.
What to be aware of
- Your position starts changing immediately after execution
- There is no pause between opening and market exposure
- Closing or adjusting requires a new action
You can move on when
- You understand how an order becomes a position
- You know where to see the open position
- You understand that PnL, margin, and risk update automatically
Start simple
Your first trades are for learning, not for maximizing profit.
- use small size
- avoid high leverage
- watch how the position changes after execution
This approach makes the next stage of position management much easier.
Common mistakes
- using too much leverage
- opening large positions too early
- not checking liquidation price
Next step
Now that your position is live, the next step is to understand how it changes over time and when it becomes unsafe.