This guide will walk you through the steps of connecting your SafePal Wallet to the Hyperliquid Decentralized Exchange (DEX), depositing funds, and executing your perpetual futures trade within SafePal wallet.
Prerequisites:
- The SafePal App (version 4.10.4 or above) installed on your phone device.
- A funded SafePal Software Wallet or a connected SafePal Hardware Wallet.
- Ensure you have sufficient funds (like $USDC and some $ETH on the Arbitrum blockchain) for gas fees and trading.
Step 1: Connect Your SafePal Wallet to Hyperliquid
1.Open the SafePal App and click the Trade tab from the bottom menu.
2. Select to click the Hyperliquid DEX from the Perpetuals list.
3. The SafePal App will automatically prompt you with a connection request, enter your App password to authorize the signature to connect your SafePal App to Hyperliquid Perp DEX.
Note: If you are using a wallet that is paired with your S1 hardware wallet, you will need to open your S1 hardware wallet to scan the QR code appearing on your SafePal App, and enter your S1 hardware wallet's PIN code for signing and confirmation.
Step 2: Deposit Funds into Your Hyperliquid Account
Before trading, you need to deposit assets from your SafePal wallet into your Hyperliquid margin account.
Notes： Users who use the Hyperliquid will be able to open and close perp positions with just an additional 0.05% fee to Hyperliquid’s existing taker and maker fee structure.
1. On the Hyperliquid interface, after you select one trading pair you will be directed to the deposit page, and click the Deposit tab.
2. A deposit menu will appear. You will see the assets available in your connected SafePal wallet that are supported by Hyperliquid (e.g., $USDC on Arbitrum), enter your deposit amount then tap Deposit.
3. A transaction confirmation pop-up from the SafePal App will appear. Verify the transaction details, including the gas fee, then tap Confirm.
4. Enter your App password to authorize the signature of the deposit transaction.
5. After the transaction is confirmed on the blockchain, the deposited balance will be reflected in your Hyperliquid account under the 'Total value' tab.
Step 3: Open a Perpetual Future Trade
Now that your account is funded, you can open a perpetual futures position.
- On the Hyperliquid trading interface, tap Enable Trading.
2. On the Hyperliquid interface, enter your App password to authorize the signature.
3. Use the Market selector to choose the perpetual contract you want to trade (e.g., BTC/USDC, ETH/USDC).
4. Choose Position Type:
- Long: You profit if the price of the asset goes up.
- Short: You profit if the price of the asset goes down.
Set Order Parameters:
- Order Type: Choose 'Market' for an instant execution at the current market price or 'Limit' to set a specific entry price.
- Size: Enter the amount of the asset you want to trade (e.g., 0.01 BTC). The interface will show you the estimated notional value.
- Leverage: Adjust the leverage slider to your desired level (e.g., 5x, 10x). Please use leverage cautiously as it significantly increases both potential profits and risks.
Once all parameters are set, click the Buy/Long button to place your order.
5. Click Buy/Long tab to confirm the perp Future order.
6. Your order will be executed, and your open position will be displayed in the Positions section of the interface.
Step 4: Close a Perpetual Future Trade
You can close a future order directly from your Future order book. Simply select the Close tab.
Tap Confirm to complete the process.
Important Security Notes
- Verify the URL: Always ensure you are on the official Hyperliquid DEX to avoid phishing scams.
- Review Transactions: Carefully check every transaction and signature request in your SafePal wallet before confirming.
- Understand the Risks: Trading perpetual contracts is highly risky. You can lose more than your initial deposit due to leverage. Always manage your risk appropriately.
You have now successfully connected your SafePal wallet to Hyperliquid, deposited funds, and opened a perpetual futures trade. Happy and safe trading!
